Four Alts. Chiefs The Richest In Their States

Aug 6 2014 | 4:40am ET

Everyone knows that hedge fund managers are rich: There were, after all, at least 78 entrants from the alternative investments universe in this year’s Forbes magazine ranking of global billionaires, led by Carl Icahn and George Soros. But how many are the richest in their neighborhood?

Real-estate blog Movoto takes up that challenge, and finds that only four alts. billionaires earn the title “richest man in the state.” Neither Icahn nor Soros even come close in New York, where their fortunes are dwarfed by that of David Koch.

In neighboring Connecticut and New Jersey, however, hedge-fund managers rule. Ray Dalio is the richest man in the Nutmeg State with $14.4 billion, and David Tepper stands astride the Garden State with $10 billion. (Both are among the top 10 wealthiest hedge fund managers, according to Forbes.) Further up Interstate 95, Providence Equity Partners’ Jonathan Nelson ranks as the wealthiest man in Rhode Island.

The only other hedge fund manager to make the cut was Citadel Investment Group’s Kenneth Griffin, Illinois’ richest with $5.5 billion. Griffin’s hold on that title may be tenuous, however: He recently filed for divorce and will have to part with some of his billions.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR