New Jersey
New Jersey home to three billionaries on Forbes 400 list of richest people in US
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Besides music icons like Whitney Houston and Bruce Springsteen, New Jersey is also home to a few billionaries.
Three to be exact!
And the three belong to an elite club on Forbes’ list of the 400 Richest People in America for 2024.
The business magazine yearly edition collects snapshots of each member’s wealth in September and releases estimates of their net worth to determine who makes the list, according to the report.
As it turns out, these 400 billionaires are raking in the dough with a combined net worth of $5.4 trillion up $1 trillion from 2023 and a dozen have $100 billion-plus fortunes. The report also stated that for entry to this exclusive club a minimum net worth of $3.3 billion was required for 2024 which is up from the $400 million admission from 2023.
Two billionaires from the Garden State cracked the top 200 list and all three have a combined estimated net worth of $18.4 billion.
New Jersey richest residents: 2024
Here’s what Forbes editors wrote about the Garden State billionaires:
John Overdeck: $7.4 billion
No. 160: John Overdeck is the richest resident in New Jersey with an estimated net worth of $7.4 billion. He is the cofounder of Two Sigma, a quantitative investing powerhouse with $60 billion in assets under management. In high school he was a math prodigy who won a silver medal at the International Mathematical Olympiad at age 16 and has given $380 million through his family’s charitable foundation, which supports education. Overdeck also chairs Princeton’s Institute for Advanced Study.
Rocco Commisso: $6.4 billion
No. 200: Rocco Commisso is second richest resident in New Jersey and has an estimated net worth of $6.4 billion. He is the founder and CEO of the cable company Mediacom. At the age of 12 Commisso immigrated to America from Italy in 1962. In high school he earned a full scholarship to Columbia University, in which the soccer stadium bears his name in recognition of his donations to the school.
Peter Kellogg: $4.6 billion
No. 288: Peter Kellogg is the third richest resident in New Jersey and has an estimated net worth of $4.6 billion. He held a leadership position at the brokerage house Spear, Leeds & Kellogg several years after joining in 1973. In 2000, he sold the brookerage house to Goldman Sachs for $6.5 billion in cash and stock. He was also the CEO of IAT, until 2015 and still chairs. Kellogg has donated more than $4 million to the U.S. ski and snowboarding teams.
New Jersey
Light snow forecast expands to nearly half of N.J. after rain, high winds today
A cool, damp day is in store for New Jersey with rain during the day and northwestern areas of the state getting a dusting of snow at night, forecasters say.
Rain totals have been dialed back but Thursday’s moisture is “still a generous and much needed precipitation event,” especially for North Jersey, the National Weather Service said in its morning forecast discussion.
“The signal remains clear that the heaviest rain will fall across our northern zones with considerably less to the south, but overall, forecast precipitation has diminished slightly.”
By the time the last of the moisture pushes away from the state on Friday night, precipitation amounts will range from 1.5-2 inches in northwestern regions to a tenth to quarter inch in southern New Jersey. Central portions of the state should wind up with a half-inch to an inch of rain.
Overall, the rain will help New Jersey’s drought, but won’t come close to alleviating it.
“The drought is much too extensive and too significant to be resolved by one storm,” AccuWeather.com said.
The other story Thursday will be gusty winds that could reach as high as 25 mph inland and 40 mph along the Jersey Shore.
Rain will be mainly light, though heavier showers are possible at times, according to the weather service’s New York office, which covers Bergen, Essex, Hudson, Passaic and Union counties.
High temperatures will top out in the low 50s around mid-afternoon.
Rain will change to light snow tonight in northern New Jersey with less than an inch expected in general. Hilly areas in Sussex and parts of Passaic counties could see slightly higher totals. Lows will be in the 30s.
Some scattered light rain is expected Friday before it tapers off at night from west to east, according to forecasters. It’ll be a chilly, breezy day with highs only in the 40s before temps dip into the 30s overnight.
Dry weather returns for the weekend with mostly sunny conditions and highs in the low 50s both days. The forecast is the almost the same for Monday and Tuesday, though temps will be slightly warmer.
Current weather radar
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Jeff Goldman may be reached at jeff_goldman@njadvancemedia.com.
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New Jersey
Tolls to rise again on NJ Turnpike, Garden State Parkway in 2025
Attention drivers using New Jersey roads, tolls are about to go up again on two major highways next year.
The New Jersey Turnpike Authority approved a 2025 budget that includes a three percent increase to tolls on the turnpike and the Garden State Parkway.
According to a spokesperson with the authority, the annual Turnpike toll will go up by 16 cents. Some examples include:
- From Interchange 4 to Interchange 7A to go up by 10 cents
- From Interstate 95 through Interchange 6 to the Newark airport (Interchange 13A) will go up by 30 cents
- To travel south from Interchange 4 to the Delaware Memorial Bridge will go up 13 cents
Officials said that the tolls at the main plazas on the Parkway will go up by eight cents. Some of those include:
- Cape May
- Great Egg
- Sommers Point
Meanwhile, tolls at Parkway ramp plazas will go up by just three cents.
The increase goes into effect for both roads on Jan. 1.
This is the fourth increase since the Turnpike Authority board approved annual toll hikes back in 2020.
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