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.
The six-county region — Bergen, Essex, Hudson, Morris, Passaic and Union — is home to 2.6 million residents, six major league teams and four NCAA Division I athletic programs that collectively drew 12.7 million in attendance during our study.
Home base: The region is home to sports business companies including: 16W Marketing; BetMGM; Goldklang Group; Mars Wrigley (U.S. operations); Prudential Financial; Samsung; Skanska; and ZRG Partners.
Over the past three years, MetLife Stadium (which will host eight 2026 FIFA World Cup matches, including the final), and Prudential Center (which added the PWHL Sirens to its busy roster) each reported record revenues, and Sports Illustrated Stadium snagged a new naming-rights deal and will be the official NY/NJ World Cup 26 Jersey Fan Hub.
Recent events and wins for the area include WrestleMania in 2019; the SheBelieves Cup, presented by Visa in March; 2025 NCAA Division I Men’s Basketball East Regional; and Brazil’s base camp at the Red Bulls’ Columbia Park Training Center.
Previous Rankings
2023: #2 (with New York City)
2024 Event Hosting: #7 (with New York City)
2025 Soccer: #2 (with New York City)
A black bear was spotted in the area of Frederick Court in Princeton on Saturday night, according to an alert issued to residents. A bear was also spotted May 15 in the area of Heather Lane between Cherry Valley Road and Great Road. It is unclear whether the latest sighting is the same bear.
Residents are advised not to approach the bear and to remain indoors if they see it.
According to the New Jersey Department of Environmental Protection’s Division of Fish and Wildlife, black bears are common in parts of New Jersey, and they sometimes travel through residential neighborhoods as part of their natural movement patterns.
Residents should not leave food or garbage outdoors because bears can quickly become attracted to human food sources. Bears may eat garbage, pet food, birdseed, and other easily accessible items. Bears that gain access to food in residential neighborhoods may lose their fear of people and repeatedly return to the area. Some nuisance bears eventually must be trapped.
State wildlife officials urged residents in bear-prone areas to take precautions to reduce the chances of attracting bears.
Recommended precautions from the The information was provided by the NJDEP Division of Fish and Wildlife include:
- Use certified bear-resistant garbage containers.
- Store garbage in containers with tight-fitting lids.
- Keep garbage in a secure location until the morning of pickup.
- Do not feed bears.
- Do not approach bears.
- Do not run from bears because running may trigger a chase response.
- Avoid direct eye contact with bears.
- Remain calm and slowly back away if encountering a bear.
- Make noise by yelling, clapping, singing, or using an air horn.
- Make yourself appear larger by waving your arms or lifting a jacket overhead.
- Stay together if you are in a group.
- Make sure the bear has an escape route.
Officials also advised residents to watch for warning behaviors from bears, including huffing sounds, jaw popping, and swatting at the ground, which can indicate the animal feels threatened.
Bears may stand on their hind legs to get a better view or detect scents in the air, which is not always considered threatening behavior.
Residents can report black bear damage or nuisance behavior to the NJDEP’s 24-hour hotline at 1-877-WARN-DEP, or 1-877-927-6337.
Tuesday, May 17, 1977 ― 49 Years Ago
Worldwide shortages of oil could cripple the global economy by the early 1980s if nations do not immediately pivot toward conservation and alternative energy. That was the stark warning issued on the front page of the Asbury Park Press on this date from the Workshop on Alternative Energy Strategies, a respected international think tank, as reported by the Associated Press.
Organized in 1974 by Carroll L. Wilson, a professor at the Massachusetts Institute of Technology, the 35-member panel of government and business leaders concluded that the supply gap would likely reach a critical breaking point between 1985 and 1995, the AP wrote. While the experts suggested that aggressive conservation efforts might push the crisis as far back as 2010, the consensus was that the era of abundant, cheap energy was over.
2 Murderers Escape From Marlboro Psychiatric Hospital
MARLBORO ― Two convicted murderers escaped early this morning from the Rahway Prison Unit located on the grounds of Marlboro Psychiatric Hospital, according to township police.
Raymond Bukowski of Plainfield, serving up to 25 years for murder and armed robbery, and Nicholas Gallicchio of Newark, serving up to 30 years for murder, were both reported missing at 1:30 a.m. today; police said.
Mayor Arthur Goldzweig, who has previously asked the state to close the prison unit here, said early today that the township will now seek a court order to close it.
The mayor, who is a Democratic candidate for state Assembly, said he will also ask the governor to provide immediate additional security at the prison unit, either through the New Jersey State Police or with increased security staff.
The Marlboro Township Police Department did not release details early today on how the murderers got out of the unit. Three other prisoners have escaped from the hospital grounds recently.
Jordan Drops Governor Bid; To Back Byrne
TRENTON ― Jersey City Mayor Paul T. Jordan yesterday withdrew as a candidate for the Democratic gubernatorial nomination and endorsed Gov. Brendan T. Byrne as the party’s standard-bearer.
Previously, Jordan said Byrne’s nomination would be a “disaster” and that New Jerseyans would breathe a “collective sigh of relief” if the governor did not run for re-election.
Jordan, whose withdrawal from the primary election race came after the one-sided defeat of his candidate in the Jersey City mayoral election last week, said he will now campaign actively for Byrne.
Byrne, through a spokesman, welcomed the endorsement, saying that Jordan’s philosophy closely paralleled his own.
Richard Coffee, Byrne’s campaign director, said the move “projects the governor as the solid front-runner” in the Democratic primary field.
Fire Damages 2 Stores in Monmouth Mall
EATONTOWN ― Firemen battled a smoldering, smoky blaze at the Monmouth Mall for nearly two hours last night and into this morning.
Fire Chief Joseph Gaetano of the Eatontown Fire Department said the blaze was confined to rear portions of the Rite Aid Pharmacy and the Puppy Love Pet Shop in the northwest section of the main level of the mall.
He said this morning it still had not been determined whether the fire started inside or outside the drug store, although most of the fire damage was located in the storeroom of the pharmacy.
All animals in the pet shop, including a prize monkey and cockatoo, were rescued by firemen who groped through thick smoke in the store.
Several firemen were treated at the scene for smoke inhalation by the Eatontown First Aid Squad, said Assistant Fire Chief William Stalfa.
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