Connecticut
15 Connecticut residents on Forbes list of wealthiest Americans. Here’s who they are
With the volatile stock market still setting records this year, Connecticut’s rich are getting richer.
That is documented in Forbes magazine’s latest annual listing of the 400 wealthiest Americans.
Connecticut has 15 residents on an extended list of billionaires, which has been growing with stock prices and real estate values climbing. For years, the list marked a compilation of those whose wealth had reached $1 billion.
But now with a new cutoff of $2.9 billion to qualify for the top 400, many billionaires and wealthy Americans are no longer on the traditional list. Former president Donald J. Trump did not make the cut as Forbes calculated his net worth, which has been much in dispute, at an estimated $2.6 billion.
In Connecticut, the richest resident is Steve Cohen, the longtime hedge fund manager who is most widely known for buying the New York Mets baseball team in 2020 for $2.4 billion. Cohen’s worth is calculated at $19.8 billion.
He is followed by fellow Greenwich resident Ray Dalio, who clocks in at $15.4 billion, which is down from last year’s estimate at $19.1 billion and allows Cohen to take the top spot in Connecticut.
Dalio and his wife, Barbara, have stepped more into the public eye by trying to help at-risk youth who are in danger of dropping out of high school. A report by a consulting group said that nearly 20% of Connecticut youths between the ages of 14 and 26 in 2022 had either already dropped out of high school, were at risk of not graduating, did not have a job or college plans, or were in prison.
The Dalios appeared on stage with Gov. Ned Lamont in East Hartford High School’s gymnasium in April 2019 to talk about the problem, which is a long-running issue in the state. The Dalios pledged $100 million over five years in a high-profile partnership with the state, but the partnership was eventually dissolved over various controversies including concerns about public disclosure and the state’s freedom of information laws.
Anja Niedringhaus / AP Greenwich resident Ray Dalio is currently rated by Forbes magazine as Connecticut’s second-richest resident. He is the founder of the world’s largest hedge fund, Bridgewater Associates.
Everything is relative in the stratosphere of billionaires. Cohen and Dalio stand head and shoulders beyond the other Connecticut billionaires and their relative net worth.
At $19.8 billion, Cohen has more than six times as much wealth as Greenwich resident Vince McMahon, who has an estimated $3.1 billion from his World Wrestling Entertainment empire.
McMahon has vastly expanded the Stamford-based business that he bought from his father, and WWE matches are now shown in more than 30 languages in nearly 150 countries worldwide in a highly successful business.
As WWE has increased sharply in value since going public more than two decades ago, the parent company disclosed recently that McMahon would be selling $300 million in company stock. McMahon, 78, stepped down from running the company following various controversies and public allegations that he has denied.
Bill Pugliano, Getty Images
WWE chairman Vince McMahon, center, had his head shaved by Donald J. Trump and Bobby Lashley after losing a bet in the Battle of the Billionaires at the 2007 World Wrestling Entertainment’s Wrestlemania at Ford Field in Detroit, Mich.
Connecticut state income tax
The billionaires and near-billionaires are important players in the Connecticut economy because they pay a large share of the state income tax.
The top 2% of tax filers pay 40% of the state income tax, according to statistics by Gov. Ned Lamont’s budget office. The top 2% covers filers earning more than $500,000 per year. At the other end of the income spectrum, the bottom 54% of filers — representing more than half of the total — paid 4% of the income tax.
Besides prominent celebrities like McMahon, many of those on Forbes list have relatively lower profiles by comparison.
Todd Boehly, a Darien resident, has risen to prominence as co-owner of the Los Angeles Dodgers baseball team and L.A. Lakers basketball team. His picture was featured on the cover of Forbes, which will clearly boost his profile.
Boehly’s Greenwich-based private holding company, known as Eldridge Industries, has more than 3,000 employees and has invested in numerous ventures, including the song rights of rock superstar Bruce Springsteen.
Karen Pritzker of Branford, who is a member of the wealthy family that made its money from the Hyatt hotel chain, is tied with Boehly at $6 billion each, according to Forbes.
Mark J. Terrill/AP
Darien resident Todd Boehly is worth an estimated $6 billion, according to Forbes. As co-owner of the Los Angeles Dodgers baseball team, he is shown here watching a game on April 30, 2022 against the Detroit Tigers.
Other Connecticut billionaires on the list include relatively low-key financiers and investors who are generally out of the public spotlight.
They include:
– Brad Jacobs, a Greenwich resident who founded XPO Logistics. At $3.7 billion, his wealth dipped slightly from last year’s estimate of $3.8 billion.
– Douglas Ostrover of Greenwich, co-founder and chief executive officer of Blue Owl Capital in Manhattan and Greenwich, at $2.9 billion.
– Michael Rees of New Canaan, a former executive at the Lehman Brothers investment bank and co-president of Blue Owl Capital, at $1.9 billion. Ostrover and Rees merged their separate firms to create Blue Owl Capital.
– Clifford S. Asness of Greenwich, a hedge fund manager and New York City native who holds a Ph.D. in finance, at $2 billion. He runs AQR Capital Management, which is named after Applied Quantitative Research. In 2009, he gained attention for criticizing then-President Barack Obama in an essay titled “Unafraid in Greenwich” after Obama had complained about hedge funds related to the bankruptcy of Chrysler.
“Angering the President is a mistake, and my views will annoy half my clients,” Asness wrote. “I hope my clients will understand that I’m entitled to my voice and to speak it loudly, just as they are in this great country. … The managers have a fiduciary obligation to look after their clients’ money as best they can, not to support the President, nor to oppose him, nor otherwise advance their personal political views. That’s how the system works.”
Alexandra Daith of Old Lyme and Lucy Stitzer of Greenwich, two sisters who have inherited wealth from Cargill, a global food giant that is privately held and still mostly owned by billionaires in the family that founded it in 1865. The company operates in low-key fashion and is less known to the general public than other giants in the food business like General Mills, Kellogg’s, and Archer Daniels Midland. Their worth is estimated at $2 billion each.
Greenwich resident Mario Gabelli, 82, is well known in the finance world for running an investment company since the 1970s. His wealth is estimated at $1.8 billion, and his philanthropic contributions prompted Fordham University to place his name on its business school.
Two Connecticut homeowners are now listed by Forbes in their home countries:
Darien resident O. Andreas Halvorsen, who co-founded a hedge fund in Greenwich known as Viking Global Investors and served on the board of Greenwich Academy, is now listed in his home country of Norway at $7.2 billion.
In the same way, Alex Behring, who co-founded 3G Capital in Greenwich, is now listed in Brazil at $6.3 billion.
Biden in Greenwich
Stephen Mandel, Jr., a longtime hedge fund manager with a Harvard MBA degree, founded Lone Pine Capital in 1997. Public records show that he contributed $1 million in 2020 to the Lincoln Project, which is operated by former Republican strategists who helped blocked Donald J. Trump’s attempt at reelection.
Mandel’s name came into the public eye when President Joe Biden visited Mandel’s Greenwich home for a fundraiser in June 2023.
“As Americans, we all owe a big thanks to the President for what he’s done the last two years,” Mandel said, according to the pool report filed by a Washington-based reporter.
For years, Republicans have predicted that some of the wealthiest residents would flee from Connecticut if taxes were raised too high. During the tenure of then-Gov. Dannel P. Malloy, taxes were increased and the three highest top rates of 6.7%, 6.9% and 6.99% were added to the state income tax. The state now has seven different income tax rates, up from three rates when Malloy took office in 2011.
Lamont, however, has repeatedly stated that he favors no increases on the state income tax beyond the current 6.99% level. Lamont has been able to block any attempts over the past six years, and Democrats do not currently have enough votes in the state House of Representatives to override a potential veto.
Lawmakers have said that some wealthy residents quietly moved out of the state at an increasing pace — taking their wealth with them to states like Florida, where there is no state income tax. Those who have moved to Florida include major Greenwich investors like Edward Lampert, Paul Tudor Jones, Thomas Peterffy, C. Dean Metropoulos, William R. Berkley, and Barry Sternlicht, according to public accounts and statements by fellow Greenwich residents.
For years, Republicans and Democrats have argued over whether the tax flight is a myth and whether wealthy, older residents move primarily for better weather as opposed to lower taxes.
Lamont himself ranks among the highest-earning tax filers in the state. During the 2022 election campaign, Lamont released his tax returns that showed that his adjusted gross income for 2021 was $54 million. That included $52.7 million in capital gains as Wall Street set records in 2021 before falling back in the following year.
The booming stock market in 2021 made a major difference as Lamont’s previous adjusted gross income had been reported as $7.77 million in 2018, $10.14 million in 2019, and $8.02 million in 2020.
Estate tax
While the Forbes list tracks those who are still working or at least collecting stock dividends, Connecticut also has ultra-wealthy families who are paying the state’s estate tax.
Anyone who died in 2023 with an estate of less than $12.9 million owed no tax in Connecticut or at the federal level — as the state exemption that has increased sharply from the past.
In Connecticut, 138 people had more than $10 million in their estate when they died, based on statewide probate records for 2021. The records show that 39 of those estates were above $15 million each and six were above $100 million.
Based on interpretations of probate law, state officials declined to reveal the names of those with some of the largest estates. Those included estates of $124.5 million from a resident of Wilton, $121.5 million from Essex, and $108 million from the Riverside section of Greenwich. Those totals reflect the size of the estates, rather than the amount of taxes paid.
The estate tax is highly volatile because state officials cannot predict the timing of anyone’s death and the exact amount of money that they will have.
As such, the projected tax collection for the current fiscal year has been reduced by $45 million, down from a projection by the legislature of $178 million to the new level of $133 million. Lamont’s budget office said in a letter to the comptroller that the reason is that “the tax continues to underperform each month” as there is slightly more than two months remaining in the fiscal year that ends on June 30.
With the state relying on fewer individuals to pay the bulk of the bills, officials at the state tax department traditionally keep a close eye on the top 100 taxpayers. Former Department of Revenue Services Commissioner Kevin B. Sullivan has said that the top 100 taxpayers, collectively, are tracked quarterly and annually to help forecast the state’s tax fortunes.
State Rep. Stephen Meskers of Greenwich, a moderate Democrat who worked in the finance industry, said that keeping the billionaires is important because they never move to Florida alone when they move the hedge fund there.
“When we drive them to Florida, they take another 50 to 100 associated individuals,” Meskers said in an interview. “The impact isn’t the individual. People tend to want to curry favor with the boss. They could be earning $400,000, $500,000 or $600,000 salaries.”
Meskers added that the state does not need to lose many individuals to have a significant impact.
“If you lose three or four of the major taxpayers, you could be down 200, 300, 400 million bucks directly,” Meskers said of the state income tax. “The question is how do we get more of them and not how much to tax them.”
Christopher Keating can be reached at ckeating@courant.com
Connecticut
Man convicted almost 4 years after body found in the Connecticut River
HOLYOKE, Mass. (WGGB/WSHM) — A 24-year-old man has been convicted of first-degree murder in connection to the deadly shooting of Elis Vizcarrondo back in 2022, according to Hampden District Attorney Anthony D. Gulluni.
On July 3rd, 2022, officers arrived to the scene at the Connecticut River, finding Vizcarrondo’s body after he had been shot in the back of the head and through his right eye.
During the investigation, officials received information from witnesses that led them to 131 Clemente Street in Holyoke, where it was confirmed, the victim was killed. Officials were also able to find out there were multiple others involved.
One of the others, William Bell, was charged, but had already passed away in April 2025, while in custody at the Berkshire County Jail and House of Correction. Officials say Miguel Morales was also later charged, as an accessory after the fact.
During the trial of 24-year-old Elijah Melendez of Holyoke, it came out that Melendez had admitted to multiple people that he worked alongside Bell to kill Vizcarrondo, due to their connection with a separate homicide investigation.
Melendez was found guilty by a jury of first-degree murder, possession of a firearm without a license, and possession of ammunition without a license. His sentencing is scheduled for Friday, May 1st, in Hampden Superior Court.
The investigation was conducted through a coordinated effort between the Massachusetts State Police Detective Unit assigned to the Hampden District Attorney’s Office, along with the Holyoke Police Department and the Chicopee Police Department.
Copyright 2026 Western Mass News (WGGB/WSHM). All rights reserved.
Connecticut
Opinion: When getting care means going into debt
The email is sitting in my inbox like a countdown clock: $5,000 due to secure my surgery date. Another $7,000 required on the day of the procedure. Before even getting there, I had already paid $800 just for a consultation and thousands more from emergency room visits, trying to manage the pain.
As a college student in a single-parent household, these costs are not just overwhelming; they are destabilizing. For my family, this isn’t just a medical decision; it’s a financial crisis that affects bills, groceries, and basic stability.
This isn’t an unusual story; it’s what accessing healthcare looks like for too many people in Connecticut today. When the cost of care becomes this overwhelming, patients are forced to make impossible choices: delay treatment, go into debt, or simply go without.
This is why Connecticut lawmakers must pass SB3: An Act Concerning Health Care Affordability. The bill directly addresses one of the most urgent public health issues in our state: the rising cost of healthcare and the barriers it creates for everyday citizens. SB3 is not just a general attempt to “lower costs.” It proposes specific, actionable solutions.
The bill would establish a Connecticut Affordable Health Care Trust Fund to stabilize costs and protect residents from rising premiums, particularly as federal subsidies become uncertain. It also includes a “Connecticut Option” program designed to expand access to more affordable insurance coverage and, in the short term, replace federal premium subsidies for many residents earning up to 600% of the federal poverty level.
Healthcare affordability is not just an economic issue; it is a public health crisis. According to a report from theKaiser Family Foundation, nearly half of U.S. adults report difficulty affording healthcare, and many delay or skip necessary services as a result. These delays can lead to worsening conditions, more emergency visits, and higher long-term costs for both patients and the healthcare system. In my case, postponing treatment for endometriosis only led to repeated ER visits, each one adding to the financial and physical burden.
Ella Nocera-DeJulioConnecticut is not immune to these trends. Reports show that residents across the state, especially those with low and moderate incomes, struggle with high premiums, deductibles, and out-of-pocket costs. Even those with insurance often face significant financial barriers when seeking care. This reality contradicts the very purpose of a healthcare system: to provide timely, effective treatment without causing financial harm.
Some critics argue that bills like SB3 could increase government spending or place additional strain on healthcare providers. Others question whether it goes far enough, pointing out gaps in coverage, such as limited inclusion of certain populations. These concerns deserve attention, but they do not outweigh the urgency of the problem. In fact, SB3 is designed as both a short-term solution to stabilize costs and a long-term framework to explore broader reforms.
Passing SB3 would help more than just individual patients. When people can afford regular checkups and early treatment, long-term illnesses are easier to manage, fewer people end up in the emergency room, and healthcare costs go down overall. This leads to healthier communities and a better-functioning healthcare system. In simpler terms, making healthcare more affordable isn’t just the right thing to do; it’s also a smart decision.
My experience is just one example, but it reflects a much larger issue affecting communities across Connecticut. No one should have to delay a necessary surgery or accumulate thousands of dollars in debt just to receive basic medical care. Healthcare shouldn’t be something only available to people who can afford it, but a basic right supported by strong and effective policies.
Connecticut has a real chance to fix a system that is clearly not working for many people. Passing SB3 would help lower costs and make it easier for residents to get the care they need without financial stress. It’s time for lawmakers to take action and make healthcare more affordable and accessible for everyone.
Ella Nocera-DeJulio is a sophomore at Sacred Heart University, majoring in Health Sciences, concentrating in Occupational Therapy.
Connecticut
6 Little-Known Towns In Connecticut
Connecticut sat out most of the suburban-era tear-down that reshaped New England, and the smaller towns kept hold of specific, improbable things that anywhere else would have been paved over by 1975. A 1769 ferry still crossing the river on schedule. A 1784 law school, the country’s first, still standing as a museum. A pink Gothic cottage with the original 1846 boxwood parterre in the yard. A stone castle built by the actor who made the curved Sherlock Holmes pipe famous on stage. A 1752 house where George Washington and Rochambeau actually sat down and mapped out Yorktown. These six towns are where that kind of specificity survives, and where walking a block still puts you next to the real thing.
Litchfield
Litchfield’s claim to national history is that Judge Tapping Reeve started teaching law out of his home here in 1784, making this the site of the country’s first formal law school. Reeve taught Aaron Burr, two future Vice Presidents, a hundred and one members of Congress, and enough Supreme Court justices that the graduate roster reads like a founding-era directory. The Tapping Reeve House and the adjoining Law School, now a museum, are exactly where they were.
The rest of the town played to that register. Litchfield was a Revolutionary War supply hub and later an abolitionist center. The Litchfield History Museum fills in the wider picture, with rotating exhibits on local industry, abolition, and 18th-century domestic life. For an afternoon outside, the White Memorial Conservation Center sits on the edge of town with more than 4,000 acres of woods, meadow, and trail, and Bantam Lake, the largest natural lake in the state, is minutes south. The Litchfield Hills Farm-Fresh Market draws a Saturday crowd at the Litchfield Firehouse, just outside the Historic District and its 18th-century buildings.
Old Saybrook
Katharine Hepburn grew up summering in Old Saybrook and kept a house on Fenwick Point until her death in 2003. The Katharine Hepburn Cultural Arts Center, known locally as “The Kate,” now occupies the 1911 former town hall and runs a full theater calendar built around her memory. That is only the most famous thread in a town that has been here since 1635, when Old Saybrook was chartered at the mouth of the Connecticut River as an independent colony before folding into the Connecticut Colony in 1644.
Fort Saybrook Monument Park covers the original fortification site. Saybrook Point opens up wide water views across the river mouth, and Harvey’s Beach shallows out gently enough for families to wade in. Come late June, the Celebrate Saybrook Street Party shuts down Main Street for live music and food vendors.
Wethersfield
The room where Yorktown got planned is on the second floor of the Joseph Webb House, at the north end of Main Street. In May 1781, George Washington rode into town with a small staff, met French General Rochambeau at the Webb House, and the two of them sat there for five days working out the campaign that would end the Revolutionary War five months later. The house has been here since 1752 and still looks essentially as it did that week.
Wethersfield claims the title of Connecticut’s “most ancient town” and dates its founding to 1634. The Old Wethersfield Historic District holds more than 300 historic houses, around 50 of them built before the Revolution, which is a lot by American standards. The Webb-Deane-Stevens Museum tours three of them on adjacent lots: the 1752 Webb House, the 1769 Silas Deane House, and the 1789 Isaac Stevens House, each staged to a different period. The Keeney Memorial Cultural Center fills a red-brick Victorian building with local artifacts. September brings CornFest at Cove Park, where Wethersfield Cove also handles the kayak and waterfront walk traffic the rest of the year.
Chester
The Chester-Hadlyme Ferry has been pushing across the Connecticut River since 1769, and it still runs a seasonal schedule of short crossings between the two banks. When you board, you are stepping onto Connecticut’s second-oldest continuously operating ferry, behind only the Rocky Hill-Glastonbury Ferry, which has been running since 1655. The ride is short, five to ten minutes depending on the current, and the river views frame Gillette Castle on the ridgeline across the water.
The rest of Chester grew up around industry: the town was incorporated in 1836 and turned out ivory combs, bits, and augers during the Industrial Revolution. The small downtown is a lived-in two-block stretch, best in summer and early fall when the Chester Sunday Market sets up with produce, baked goods, and live music. Cedar Lake, just outside the village, handles the swim-and-paddleboard side of the weekend.
Woodstock
The house that anchors Woodstock is Pepto-Bismol pink. Built in 1846 for New York publisher Henry Chandler Bowen, Roseland Cottage was an early and very loud piece of Gothic Revival architecture, complete with gabled rooflines, stained glass, and an original boxwood parterre garden laid out in the same year. Presidents from Grant to McKinley showed up for Fourth of July parties here. The cottage is now a National Historic Landmark open for tours, and the pink still looks right.
Settled in 1686, Woodstock occupies Connecticut’s northeastern “Quiet Corner” and butts up against Massachusetts. Woodstock Academy, founded in 1801, is among the oldest secondary schools in the state and still holds classes in several of its 19th-century buildings. Woodstock Orchards and Bakery Barn keep the pick-your-own and cider-donut traditions running. The Labor Day weekend Woodstock Fair, running since 1860, is one of the largest in the state, and the Air Line State Park Trail, built on an old rail bed, handles the hiking and biking.
East Haddam
William Gillette was the actor who did more than anyone to define Sherlock Holmes on stage, and his version of the detective lent the curved calabash pipe to a century of pop culture imagery. (The deerstalker came earlier, from Sidney Paget’s Strand Magazine illustrations.) What Gillette did with the royalties is Gillette Castle, a 24-room fieldstone medieval-style mansion he designed himself and built between 1914 and 1919 on a bluff over the Connecticut River. The house is full of personal eccentricities: 47 hand-carved doors, each with a unique wooden latch; a sliding table on rails; a system of mirrors he used to see who was at the front door without leaving the parlor. Gillette Castle State Park opens the house and grounds to the public.
East Haddam was founded in 1734 along the river. The Goodspeed Opera House, completed in 1877, still puts on musical theater. The venue has sent 21 productions to Broadway, including the world premieres of Annie, Man of La Mancha, and Shenandoah. The Nathan Hale Schoolhouse is the one-room building where the Revolutionary War hero taught before enlisting. Chapman Falls drops about 60 feet through Devil’s Hopyard State Park, a short drive north. The East Haddam Swing Bridge, built in 1913 and recently reopened after a major repair, is the kind of thing you photograph before crossing.
The Final Word
A pattern holds across these six: the thing that matters is still exactly where it always was. Washington and Rochambeau’s table is still upstairs at the Webb House. The 1769 ferry is still hauling cars across the river. Tapping Reeve’s law office is still standing next to the house. Gillette is still rigging his 47 doors for a century-old audience. Connecticut’s smaller towns never let the specific get replaced with the generic, and that is the whole reason to go.
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