The 12 richest people in Connecticut

According to Forbes, there are 735 billionaires in the United States this year. Twelve of them come from the Constitution State. Below is a list of these 12 billionaires and how they made their fortunes. They are the richest people in Connecticut and have a combined net worth of $68.8 billion.

1. Ray Dalio

Net worth$22 billion
Source of wealthHedge funds
Global rank#71
ResidenceGreenwich, Connecticut

Connecticut’s wealthiest individual is the founder and co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates — which he started in 1975 from his two-bedroom apartment in New York City. The firm has $154 billion worth of assets under management.

Dalio was named by Forbes as one of the highest-earning hedge fund managers in 2019 after taking home about $1 billion in 2018. He has been the state’s richest person since 2019. Last year he was ranked #36 on Forbes 400 with a net worth of $20.3 billion.

Ray worked as a futures trader and broker at Shearson Hayden Stone before starting Bridgewater. The billionaire has donated over $1 billion to charitable causes through his Dalio Foundation. He’s the world’s third-richest hedge fund manager after Jim Simons and Ken Griffin.

2. Steve Cohen

Net worth$17.4 billion
Source of wealthHedge funds
Global rank#96
ResidenceGreenwich, Connecticut

Steve Cohen is the world’s 4th wealthiest hedge fund manager. He’s the founder of the hedge funds Point72 Asset Management and S.A.C. Capital Advisors. The latter was forced to shut down after it pleaded guilty to insider trading charges. Cohen paid $1.8 billion in penalties and was banned from managing outside money for two years.

The billionaire owns the New York Mets of the MLB. His art collection is reportedly worth about $1 billion. Cohen and his family live in a 35,000-square-foot property that spans 14 acres in Greenwich. He’s a father of seven.

3. Karen Pritzker

Net worth$5.8 billion
Source of wealthHotels, investments
Global rank#438
ResidenceBranford, Connecticut

She’s the richest woman in the Constitution State. Karen is a member of the Pritzker family which owns Hyatt Hotels and owned the industrial conglomerate Marmon Group, which was acquired by Warren Buffet’s Berkshire Hathaway.

According to Forbes, Karen does not only own stakes in the family business but also in firms such as Apple and dozens of other public and private corporations. She donates to the physical and mental health of children through her Seedlings Foundation. Pritzker is the 26th wealthiest woman in the United States.

Also Read: The richest billionaire in every state

4. Todd Boehly

Net worth$4.5 billion
Source of wealthFinance and investments
Global rank#637
ResidenceDarien, Connecticut

Todd is the owner of Eldridge Industries, a Greenwich-based holding company through which he has investments in the insurance, technology, real estate, media, and asset management sectors.

He’s a part-owner of the Los Angeles Dodgers of the MLB. Boehly also co-owns the Los Angeles Lakers and the Los Angeles Sparks of the NBA. In May this year, he led a group of investors to acquire Chelsea FC for $5.4 billion. He now serves as the chairman of the soccer team. Todd Boehly joined the billionaire ranks in 2022. He also owns the fantasy sports firm DraftKings.

5. Stephen Mandel Jr.

Net worth$3.9 billion
Source of wealthHedge funds
Global rank#764
ResidenceGreenwich, Connecticut

With a fortune of $3.9 billion, Stephen Mandel Jr. is one of the richest people in Connecticut. After working as a managing director at Julian Robertson’s Tiger Management, Mandel founded Lone Pine Capital in 1997 — which as of March 2021 had $36 billion in assets under management.

The billionaire also founded two philanthropic foundations, the Lone Pine Foundation and the Zoom Foundation. As of 2019 Stephen is no longer managing investments for Lone Pine Capital but remains a managing director.

6. Brad Jacobs

Net worth$3.7 billion
Source of wealthLogistics
Global rank#801
ResidenceGreenwich, Connecticut

He’s the founder of the logistics firm XPO Logistics, a commercial trucking corporation that transports goods to warehouses and distribution centers. The company also connects drivers with shipments. He owns about 14% of the public traded company.

Apart from XPO Logistics, the billionaire has built other billion-dollar companies from scratch including United Waste Systems, which he founded in 1989 as his third company. It was acquired by Waste Management, Inc. in 1997 for $2.5 billion. Brad also founded United Rentals and built it into the world’s largest equipment company.

The billionaire dropped out of Brown University and is one of the richest people in Connecticut.

7. Alexandra Daitch

Net worth$2.4 billion
Source of wealthCargill
Global rank#1292
ResidenceOld Lyme, Connecticut

Daitch has a net worth of $2.4 billion and is the second wealthiest woman in the state. Her fortune comes from a 3% stake in Cargill, which she inherited from her father who died in 2006. Cargill is the world’s largest food company and the largest private company in the United States by revenue ($134.4 billion). Daitch is the 61st richest woman in the United States. One of her three sisters, Lucy Stitzer is also a billionaire and lives in Greenwich, Connecticut.

Also Read: The 10 Richest American Presidents

7. Lucy Stitzer

Net worth$2.4 billion
Source of wealthCargill
Global rank#1292
ResidenceGreenwich, Connecticut

Stitzer is one of four daughters of W. Duncan MacMillan who inherited their father’s stake in Cargill, the largest food company in the world. Like each of her billionaire sisters, Lucy owns about 3% of the company, which was founded by her great-great-grandfather W.W Cargill as a single grain warehouse in 1865 on the end of an Iowa railroad line.

Cargill also provides financial services, transportation and logistics, beauty and personal care products, as well as pharmaceutical products. The Cargill family owns about 90% of the agricultural corporation.

9. Vincent McMahon

Net worth$2.2 billion
Source of wealthEntertainment
Global rank#1397
ResidenceGreenwich, Connecticut

On June 17, 2022, McMahon willingly stepped down as chairman and CEO of WWE, waiting for the completion of an internal investigation following accusations that he had paid $3 million “hush money” to a female employee whom he’s said to have had an affair with.

The billionaire joined his father’s small wrestling company as a commentator in 1972. He bought the business 10 years later. WWE generates about $1 billion in revenues every year. It’s the world’s largest professional wrestling promotion.

McMahon lives in a $40 million mansion in Greenwich. He also owns a $12 million penthouse in New York City and a $20 million vacation home. He has a yacht nicknamed “Sexy Bitch”. The billionaire is one of the richest people in Connecticut.

Also Read: The 20 richest billionaires in New York

10. Mario Gabelli

Net worth$1.9 billion
Source of wealthMoney management
Global rank#1579
ResidenceGreenwich, Connecticut

He’s the oldest on the list. Gabelli is the chairman and chief executive of Gamco, a New York-based mutual fund — which he founded in 1977. Gamco provides investment advice and brokerage services to mutual funds and institutional investors. He owns the majority of the firm which has about $41.3 billion in assets under management.

The billionaire also serves as the executive chairman of Associated Capital Group, an investment management business that span off from Gamco in 2015. He’s a member of the Giving Pledge.

11. Clifford Asness

Net worth$1.6 billion
Source of wealthMoney management
Global rank#1818
ResidenceGreenwich, Connecticut

11th on the list is the co-founder of AQR Capital Management, a Greenwich-based hedge fund managing about $120 billion worth of assets. He founded the firm in 1998 when he was 31. Clifford’s $1.6 billion fortune makes him one of the richest people in Connecticut.

12. Michael Rees

Net worth$1 billion
Source of wealthPrivate equity
Global rank#2578
ResidenceNew Canaan, Connecticut

Rees is the co-founder and co-president of Blue Owl an investment firm managing over $90 billion worth of assets. Blue Owl was founded in 2021 after Michael’s Dyal merged with Owl Rock Capital. The billionaire still heads Dyal as a branch of Blue Owl.

Dyal has made investments in other private equity companies like Vista Equity Partners and Platinum Equity. It has also been acquiring stakes in professional sports teams including the Phoenix Suns and the Atlanta Hawks.

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