Top 10 Richest People in New York

  on March 11 2011 3:06 PM
  • Leonard Lauder, $6 billion, The Estée Lauder Companies
    Inherited the The Estée Lauder Companies from his parents Estée and Joseph Lauder. Was the chief executive until 1999. Previously served in the US Navy and is a major benefactor of the Whitney Museum of American Art. Reuters
  • Samuel Newhouse, $6.6 billion, Advance Publications
    Media mogul. Through Advance Publications, owns Vogue, Vanity Fair, The New Yorker, and social news aggregator reddit. Has an extensive modern art collection; owned Jackson Pollock’s No. 5, 1948, which was later sold for $140 million. Reuters
  • Rupert Murdoch, $7.6 billion, News Corp
    Media mogul. Through News Corp, owns HarperCollins, Fox, New York Post, Dow Jones, The Wall Street Journal, Barron’s, Marketwatch, and Factiva. Was born in Australia and started his business career there. Reuters
  • James Simons, $10.6 billion, Renaissance Technologies
    Secretive hedge fund manager who used complicated math models to rack up enormous profits. Was a code breaker during the Cold War. Taught mathematics and made academic contributions to the field. Reuters
  • Ron Perelman, $12 billion, Revlon
    Known for buying distressed companies and flipping them for enormous profits. Took his stake in Revlon in 1985. Also know for his four messy and public divorces and his commitment to Judaism. Reuters
  • Carl Icahn, $12.5 billion, Icahn Enterprises
    Legendary corporate raider Carl Icahn stands to gain from his bid on Clorox. Reuters
  • George Soros, $14.5 billion, Soros Fund Management
    The most famous hedge fund manager in the world and a pioneer in the industry. Very active in global politics and played a role in the democratization of Eastern Europe in the 1990s. Reportedly gave away more than $7 billion to philanthropy in the past few decades. Reuters
  • John Paulson, $16 billion, Paulson & Co
    Hedge fund manager who made it big by betting against subprime mortgages. Credited for making the ‘greatest trade ever.’ Currently very bullish on his gold investments. Said he should concentrate on making money now, then later on giving it away intelligently. Reuters
  • Michael Bloomberg, $18.1 billion, Bloomberg LP
    The former trader at Salomon Brothers is currently the Mayor of New York, making him America’s richest politician. Made his fortune through Bloomberg LP, which provides financial data and news. Reuters
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New York is the financial capital of the world. Not surprisingly, the city boasts 68 billionaires, according to Forbes’ 2011 list of billionaires in the world. Of the 10 richest, six have ties to the finance industry.

The richest man in New York is worth over $20 billion. The richest female New Yorker is Joan Tisch, who derives her fortune from holdings in Loews Corp. (NYSE: L). 

Interestingly, the list contains only two females and no racial minorities.

Click “Start” to view the 10 richest New Yorker in 2011.

 

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