New Jersey home to three billionaries on Forbes 400 list of richest people in US

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.