The 5 richest billionaires living in New Jersey

There are only 813 billionaires living in the United States, according to Forbes' latest billionaires list. Five of those choose to live in the Garden State.

If you think they’re famous rock stars or movie stars, not even close. Someone as famous and long-established as Jack Nicholson is said to be worth $400 million. Not even Bruce Springsteen, who was reported last summer to be worth $1.2 billion largely due to the sale of his music catalog, is actually a billionaire. He says his fast-spending habits on “superfluous things” puts him far short.

Maybe you think it’s one of our too-rich-for-the-room governors like Murphy or Corzine? As rich as this is, Phil Murphy is said to be worth only roughly $50 million. Jon Corzine at this point in his life is worth about the same. He once was worth much more (still not a billionaire though) and gave up $300 million in a divorce. Ouch!

No, the five billionaires making New Jersey their home are not households names. I’m going to bet you never heard of them before. But here’s who they are.

Let’s start with the ones “struggling” the most (said tongue-in-cheek) and work our way up in net worth to No. 1.

5 — Duncan MacMillan

Net worth $1.8 billion

This 87-year-old Princeton resident left Salomon Brothers years ago to partner with Mike Bloomberg and they co-founded Bloomberg LP with two others. He designed many of their computer systems.

4 — Larry Robbins

Net worth $2.2 billion

He’s only 55 years old and is the founder and CEO of the New York hedge fund Glenview Capital Management. Robbins lives in Alpine. His luck is known for running hot to cold with wild swings on his returns from one year to the next. He also has a heart, fighting poverty by serving as chairman of the Robin Hood Foundation.

3 — Peter Kellogg

Net worth $4.9 billion

Still riding high 25 years after selling his brokerage house to Goldman Sachs, Kellogg is 82 and lives in Short Hills.

2 — Rocco Commisso

Net worth $6.4 billion

He used to be the CFO of Cablevision Industries but now is the founder and CEO of MediaCom. In 2019 he purchased an Italian soccer team. He’s 75 and lives in Saddle River.

Finally, the richest billionaire living in New Jersey…

1 — John Overdeck

The wealthiest person in New Jersey is the co-founder and co-chair of Two Sigma, a conglomerate that contains a data-driven hedge fund, a private equity firm, a venture capital division and other businesses under the same umbrella. He is 55 and lives in Millburn. Where there's no Walmart or Dollar Tree by the way.

Weird!

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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