The 25 richest people in New York, ranked

Mike Coppola/Getty Images for NYFW: The ShowsThe designer Ralph Lauren is No. 13 on the list of richest people in New York.

New York is home to many of the United States’ real-estate moguls, media empires, and hedge fund billionaires.

For years, New York City held most of the world’s ultra-wealthy population, until Hong Kong surpassed it in 2018. Still, with Billionaires’ Row for real estate, Wall Street for the stock exchange, and Fifth Avenue for fashion, many of the world’s richest people still work – and often live – in Manhattan.

Read more:
I spent a day on NYC’s Billionaires’ Row. Here’s your ultimate guide to one of the city’s glitziest streets, which borders Central Park and is home to the most expensive apartment ever sold in the US.

For this list, we included people and families whose companies are based in Manhattan. That left many notable tech titans out of the ranking, as many dwell in Silicon Valley. And though Ken Griffin recently purchased a $US238 million penthouse near Central Park, his hedge fund, Citadel, is based in Chicago.

Notable dynasties, such as the Waltons, also have companies based outside the Big Apple, leaving the bulk of the list to Wall Street brokers and real-estate moguls.

Keep reading for a look at the 25 richest people in New York.

25. Leonard Stern

Wikimedia CommonsNew York University’s Leonard N. Stern School of Business.

Source of wealth: Hartz Mountain Industries

Industry: Real estate

Net worth: $US4.8 billion

Stern built his real-estate empire by purchasing warehouses, most of which are in New Jersey. After over 50 years in the business, Stern owns over 42 million square feet of property. New York University’s business school bears his name, following his $US30 million donation to the university.

24. John Paulson

Source of wealth: Paulson & Co.

Industry: Finance and investments

Net worth: $US5 billion

Founder of the hedge fund Paulson & Co., Paulson previously worked at the New York investment company Bear Stearns. According to Forbes, Paulson “made his fortune betting against subprime mortgages at the peak of the 2007 credit bubble.”

23. Sheldon Solow

Flickr/Tony HisgettThe top of the Solow Building, named after Sheldon Solow.

Source of wealth: Solow Building Company

Industry: Real estate

Net worth: $US5.16 billion

Solow earned fame and fortune upon completion of the Solow Building, at 9 W. 57 St. on Billionaires’ Row. The skyscraper houses the fashion label Chanel, Leon Black’s Apollo Global Management and Henry Kravis’ KKR – two other New York billionaires who are on this list.

22. Bruce Kovner

Source of wealth: Caxton Associates LP

Industry: Finance and investments

Net worth: $US5.23 billion

Kovner headed his hedge fund Caxton Associates for three decades before retiring in 2011. According to Forbes, he has donated to the Met Opera, Lincoln Center, and Julliard.

21. Henry Kravis

Source of wealth: KKR

Industry: Finance and investments

Net worth: $US5.57 billion

Kravis is the co-chairman and co-CEO of KKR, founded with – and named after – him, Jerome Kohlberg, and George Roberts. The firm bought RJR Nabisco for $US25 billion in 1989. Kravis has donated $US125 million to Columbia Business School.

20. Charles Dolan

Source of wealth:

Industry: Media and entertainment

Net worth: $US5.64 billion

The chairman and founder of Cablevision, Dolan sold his company in 2016 for $US17.7 billion. In addition to this main source of wealth, Dolan is a major shareholder of AMC Networks and Madison Square Garden.

T19. David Siegel

Two Sigma

Source of wealth: Two Sigma Investments

Industry: Finance and investments

Net worth: $US6.14 billion

Siegel, the cofounder and co-chairman of Two Sigma Investments, is one of the most successful hedge fund managers. Today, the company manages over $US57 billion.

T19. John Overdeck

Brian Ach/GettyOverdeck and his wife, Laura, in 2017.

Source of wealth: Two Sigma Investments

Industry: Finance and investments

Net worth: $US6.14 billion

Alongside Spiegel, Overdeck founded and chairs Two Sigma Investments. The hedge fund is headquartered in Manhattan’s SoHo neighbourhood.

17. Richard LeFrak

Eugene Gologursky/Getty Images for Haute Living

Source of wealth: LeFrak Organisation

Industry: Real estate

Net worth: $US6.29 billion

LeFrak inherited the LeFrak Organisation from his father in 2003. He’s the CEO of the massive real estate company and plans to pass on the empire to his two sons. LeFrak City, a 5,000-apartment complex in Queens, also carries the family name.

16. Leon Black

Source of wealth: Apollo Global Management

Industry: Finance and investments

Net worth: $US6.35 billion

After the bank he worked at filed for bankruptcy protection, Black started Apollo Global Management with two colleagues in 1990. Today, the firm manages over $US269 billion, with Black owning about 21% of the company.

15. Israel Englander

Source of wealth: Millennium Management

Industry: Finance and investments

Net worth: $US6.4 billion

Englander, who started Millennium Management in 1989 with $US35 million, now oversees $US35 billion. He attended New York University and began his career at Kaufmann, Alsberg & Co.

14. James Chambers, Katharine Rayner, Margaretta Taylor

Wikimedia CommonsCox Enterprises in Atlanta, Georgia.

Source of wealth: Cox Enterprises

Industry: Media and entertainment

Net worth: $US6.42 billion

James Chambers, Katharine Rayner, and Margaretta Taylor inherited their family’s fortune when their mother, Anne Cox Chambers, died in 2016. Each received a 17% stake in Cox Enterprises, which their grandfather James M. Cox founded in 1898.

Today, the conglomerate is worth $US20.4 billion, with Taylor’s son, Alex, serving as president and CEO. The company is based in Atlanta, though it also has New York offices.

Rayner is on the New York Public Library’s board of directors.

13. Ralph Lauren

Mike Coppola/Getty Images for NYFW: The Shows

Source of wealth:
Ralph Lauren

Industry: Fashion and retail

Net worth: $US6.98 billion

Though he relinquished his title as CEO in 2015, Lauren is still his fashion label’s executive chairman and chief creative officer. The company began in 1967 in the Empire State Building and recently celebrated its 50th anniversary in Central Park with a star-studded guest list.

12. David Shaw

Google MapsThe midtown Manhattan building that houses D.E. Shaw & Co.

Source of wealth: D.E. Shaw & Co.

Industry: Finance and investments

Net worth: $US7 billion

The hedge fund manager who founded D.E. Shaw, Shaw is also a former Columbia University computer-science professor. Shaw has not worked at the firm since 2002, working instead at his research firm, D.E. Shaw Research, as the chief scientist.

11. Stephen Ross

Al Messerschmidt/Getty Images

Source of wealth: Related Companies

Industry: Real estate

Net worth: $US7.69 billion

Ross, a real-estate mogul, continues to make headlines for his rapidly growing $US25 billion project, New York’s Hudson Yards. Both his penthouse and his company offices are in the Time Warner Center. Additionally, Ross is the owner of the NFL’s Miami Dolphins.

10. George Soros

Win McNamee/Getty Images

Source of wealth: Soros Fund Management

Industry: Finance and investments

Net worth: $US8.3 billion

Following a 42-year career on Wall Street, Soros now lives upstate after retiring from Soros Fund Management.

Soros is perhaps most famous for his effect on the British stock market on Black Wednesday in 1992. According to Forbes, Soros “made $US1.5 billion in just a single month by betting the British pound and several other European currencies were priced too richly against the German deutsche mark.”

9. Ronald Perelman

Brad Barket/Getty Images for Tribeca Film Festival

Source of wealth: MacAndrews & Forbes

Industry: Finance and investments

Net worth: $US9.09 billion

The owner and chairman of the investment firm MacAndrews & Forbes, Perelman holds significant shares in companies such as AM General, Deluxe Entertainment, and Revlon. His daughter Debra is the cosmetics empire’s president and CEO.

In 2016, Perelman donated $US75 million for a new arts center at the World Trade Center, the Ronald O. Perelman Center for the Performing Arts, set to open in 2021.

8. Donald Newhouse

Ben Gabbe/Getty

Source of wealth: Advance Publications

Industry: Media and entertainment

Net worth: $US12.09 billion

Newhouse owns Advance Publications, the massive empire that includes Condé Nast publications, Reddit, and a stake in the Discovery Channel. Samuel Newhouse, his brother with whom he split the family fortune, died in 2017. Donald Newhouse is still the company’s president.

7. Stephen Schwarzman

Alex Wong/Getty

Source of wealth: Blackstone Group

Industry: Finance and investments

Net worth: $US13.46 billion

The founder, chairman, and CEO of Blackstone, Schwarzman heads the world’s largest buyout firm, which, according to Forbes, has $US439 billion in assets. Schwarzman has donated to the New York Public Library and other organisations.

6. Leonard Lauder

Source of wealth:
Estée Lauder

Industry: Fashion and retail

Net worth: $US15.71 billion

Currently the chairman emeritus, Lauder joined his mother’s company in 1958 and is responsible for the acquisition of MAC, Bobbi Brown, and Aveda brands during his career. Lauder retired as the company’s CEO in 1999.

5. Len Blavatnik

David M. Benett/Getty Images

Source of wealth: Access Industries

Industry: Diversified

Net worth: $US18.06 billion

Blavatnik’s fortune comes from Access Industries, which owns major shares in names across varied industries, from the chemical company LyondellBasell to the fashion brand Tory Burch.

4. Carl Icahn

Dealbook Conference

Source of wealth: Icahn Enterprises

Industry: Finance and investments

Net worth: $US18.13 billion

Icahn heads Icahn Enterprises, his holding company, and briefly served as a special adviser to the Trump administration in 2017.

3. Rupert Murdoch

Source of wealth:
News Corp

Industry: Media and entertainment

Net worth: $US19.09 billion

Rupert Murdoch is the co-chairman of Fox Corporation and the executive chairman of the News Corp media empire, which owns The Wall Street Journal. After starting with a small Australian newspaper, Murdoch acquired the New York Post, his first major US acquisition, in 1976.

Just this year, Murdoch finalised his newsworthy deal with the Walt Disney Company: Disney purchased Fox for $US71 billion, substantially growing his family’s fortune.

2. David Koch

Source of wealth:
Koch Industries

Industry: Diversified

Net worth: $US52 billion

Now the director emeritus, Koch was previously the executive vice president of his family’s business. His brother Charles, who shares the same net worth, still heads the company from its headquarters in Wichita.

According to Forbes, Koch has made major contributions to New York organisations such as Lincoln Center and Memorial Sloan Kettering Cancer Center.

1. Michael Bloomberg

Drew Angerer/Getty Images

Source of wealth:
Bloomberg LP

Industry: Media and entertainment

Net worth: $US59.44 billion

Beginning his career on Wall Street, Bloomberg cofounded his company in 1981 and owns 88% of it; it’s now worth over $US9 billion.

He was New York City’s mayor for over a decade, from 2001 to 2013, before resuming his role as Bloomberg’s CEO at the end of 2014.

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