Four NJ residents land on Forbes 400 list of America’s richest people

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The basics:

• Four NJ-based billionaires named to 2025 Forbes 400 list
• John Overdeck leads Garden State names with $8 billion from Two Sigma
• U.S. billionaires’ combined net worth surged to $6.6 trillion in 2025

Of the 400 richest people in the U.S., four of those billionaires live right here in New Jersey, according to a new ranking from Forbes.

In its 44th annual roundup of the nation’s wealthiest individuals, the business publication reported the net worth of the included entrepreneurs, investors and heirs at $6.6 trillion. The figure marks a $1 trillion increase from 2024.

Despite tariffs, inflation and slowing employment, the magazine said “surging stock markets and AI mania” have ensured the rich grew even richer over the past year.

“A decade ago, when it took $1.7 billion to make The Forbes 400, a net worth of $3.8 billion was comfortably within the top half of the ranking—now that lofty sum is the minimum required,” Forbes wrote.

How they did it

To compile the 2025 Forbes 400 list, Forbes evaluated Americans’ net worth based on the value of their assets — including stakes in public and private companies, real estate, art and other holdings, as of Sept. 1.

Reporters also reviewed other materials, such as public documents, stock filings, private estimates and interviews to assess wealth. Additionally, Forbes assigned a “self-made score” to reflect how much of the wealth was earned versus inherited.

The richest people from New Jersey on the list are:

These billionaires don’t currently live here but have ties to New Jersey:

• No. 41: David Tepper $23.7 billion
  Hedge-fund leader and founder of Appaloosa Management
• No. 66: Donald Newhouse $15.6 billion
  Owner of broadcasting empire Advance Publications, the parent company of The Star Ledger/NJ Advance Media
• No. 109: Josh Harris $11 billion
  Co-founder of alternative investment firm Apollo Global Management; and co-founder of Harris Blitzer Entertainment, owner of the New Jersey Devils, Philadelphia 76ers and Prudential Center

As for the richest person in America, Tesla and SpaceX CEO Elon Musk remained at the top of the list. This year, he broke the $400 billion mark.

President Donald Trump ranked No. 201 on the list with a net worth of $7.3 billion. Within the real estate industry, Trump was eighth in the sector, led by Donald Bren of California (net worth of $19.2 billion) and Stephen Ross of Florida (net worth of $17 billion).

Here are the top 10 ranked by wealth, according to Forbes:

1. Elon Musk $428 billion – co-founder of Tesla and SpaceX
2. Larry Ellison $276 billion – co-founder of tech giant Oracle
3. Mark Zuckerberg $253 billion – co-founder of Facebook and CEO of Meta
4. Jeff Bezos $241 billion – founder of Amazon
5. Larry Page $179 billion – co-founder of Google and former CEO of its parent company, Alphabet
6. Sergey Brin $166 billion – co-founder of Google and former president of Alphabet
7. Steve Ballmer $153 billion – former CEO of Microsoft
8. Jensen Huang $151 billion – co-founder, CEO and president of graphics-chip maker Nvidia
9. Warren Buffett $150 billion – investor, CEO and chairman of Berkshire Hathaway
10. Michael Dell $129 billion – chairman and CEO of Dell Technologies