Richest billionaires in New Jersey

Written by:
January 5, 2023
Thos Robinson // Getty Images for Code-to-Learn Foundation

Richest billionaires in New Jersey

The first billionaire ever is thought to be Standard Oil magnate John D. Rockefeller back in 1916, or perhaps Henry Ford in 1925. Fast forward some 100 years to 2021: as the COVID-19 pandemic continued to rage, a record-breaking 660 people became billionaires globally, growing the previous year's number by 30%. While the U.S. is home to the most billionaires out of any other country, Americans are somewhat split in their feelings on the billionaire class. According to Pew Research Center data, people in the U.S. became somewhat more critical of billionaires between 2020 and 2021. Although support for individual billionaires like Elon Musk or Bill Gates is relatively strong, many Americans view the ultra-rich—as a group rather than as individuals—negatively. Meanwhile, Amazon CEO Jeff Bezos is projected to become the world's first trillionaire by 2026.

The U.S.'s wealthiest billionaires are mostly concentrated within just a couple of industries: finance and investments, and technology. Other wealthy sectors include food and drink, fashion and retail, and media and entertainment. Stacker compiled a list of the richest billionaires that are residents of New Jersey, using data from Forbes. Billionaires are ranked by net worth as of January 3. Forbes lists 5 billionaires in New Jersey.

#5. Duncan MacMillan
- Net worth: $1.5 billion (#1,921 wealthiest in the world)
- Residence: Princeton, New Jersey
- Source of wealth: Bloomberg LP, Self Made

#4. Larry Robbins
- Net worth: $1.9 billion (#1,528 wealthiest in the world)
- Residence: Alpine, New Jersey
- Source of wealth: hedge funds, Self Made

#3. Peter Kellogg
- Net worth: $3.6 billion (#789 wealthiest in the world)
- Residence: Short Hills, New Jersey
- Source of wealth: investments

#2. John Overdeck
- Net worth: $6.8 billion (#345 wealthiest in the world)
- Residence: Millburn, New Jersey
- Source of wealth: hedge funds, Self Made

#1. Rocco Commisso
- Net worth: $6.9 billion (#336 wealthiest in the world)
- Residence: Saddle River, New Jersey
- Source of wealth: telecom, Self Made

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