Eight County Billionaires Make Forbes Richest List

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Richest man in Connecticut is Steven Cohen, 55, of Greenwich, worth more than $8 billion. Cohen's wife, Alexandra, is at right. Photo Credit: Photo provided by Peppe Communications

FAIRFIELD COUNTY, Conn. – The rich keep getting richer. At least in Fairfield County, and Greenwich in particular, which is home to eight of Connecticut's 11 billionaires and the five richest people in the state.

Two of the state’s remaining three billionaires also reside in Fairfield County.

Forbes magazine released its new list of the 400 Richest People in America just days after Connecticut was named the second richest state in the country in an article on 24/7 Wall St. The article says Connecticut's wealth gets a big boost from commuters who work in New York City and are involved in hedge funds in Fairfield County.

The hedge fund connection to the super rich is also shown on the Forbes list.

The richest person in Connecticut, according to Forbes, is Steven Cohen of Greenwich, founder and manager of SAC Capital Advisors, a hedge fund with $16.6 billion in assets. Ranked 35th overall in the U.S., Cohen's net worth is listed at $8.3 billion.

Right behind at No. 44 overall with $6.5 billion is Ray Dalio, also of Greenwich and founder of Bridgewater Associates, considered the world's largest hedge fund.

Thomas Peterffy, another Greenwich resident and Hungarian immigrant, is founder and chief executive officer of Interactive Brokers. He ranks third in Connecticut and 60th overall with a net worth of $5 billion, according to Forbes.

Yet another hedge fund operator and Greenwich resident, Paul Tudor Jones II, is fourth in the state with $3.2 billion and an overall rank of 107. Jones founded Tudor Investment Corp. in 1980.

Rounding out the five richest in Connecticut at 117 on the Forbes list is Edward Lampert of Greenwich. The chairman of Sears Holdings Corp. and founder, chairman and chief executive officer of ESL Investments is worth $3 billion.

Next is Danbury resident Peter Buck, ranked 188 overall on the Forbes list with a net worth of $2.2 billion. A former nuclear physicist and founding partner in the Subway restaurant chain, Buck helped build a business that has more than 30,000 franchised locations in 91 countries.

Greenwich has three of the final four Fairfield County residents on the Forbes rankings, including Stephen Mandel Jr. with a net worth of $1.5 billion. Mandel is the founder of hedge fund Lone Pine Capital and is ranked 293 overall.

Darien resident Richard Chilton Jr., founder, chairman and chief investment officer of Chilton Investment Co., with a net worth of $1.3 billion, is next in the Connecticut rankings, and 331 on the overall Forbes list.

Rounding out the list in Connecticut at 359 overall with an estimated $1.2 billion, are Greenwich residents William Macaulay, chairman and chief executive officer of First Reserve Corp., a Greenwich-based energy industry investor, and C. Dean Metropoulos, also at $1.2 billion, executive chairman of private equity firm Metropoulos & Co., which in June paid $250 million for the Pabst Brewing Co.

Only Branford resident Karen Pritzker, a resident of New Haven County who ranks 273 on the Forbes list with a net worth of $1.6 billion through investments and involvement in the hotel industry, lives outside Fairfield County.

Bill Gates, founder of Microsoft Corp., of Medina, Wash., placed first in the overall list with a net worth of $59 billion and remains the nation's richest individual, according to Forbes.

To reach Richard Weizel, email rweizel@mainstreetconnect.us. 

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Comments (2)

dsparta:

I think it is far more newsworthy to talk about all the other people in CT who are trying to make ends meet in these tough times. Why is hearing about a few billionaires important news to our community? Are they heros in some way? Are they doing some good with their money? Or just continuing to do what we have seen hedge funds and brokerage firms do all along? It was disappointing to see The Daily Fairfield put this as a top news story.

sema43:

It's interesting how much wealth is in the state, yet 99% of the people living here are struggling to get by. Are they hiring? Are they providing new opportunities for the unemployed? What is the point? Should we be thankful they are living here and enjoying their tax breaks? You decide.

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