Forbes' wealthiest: The superrich get richer
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Four Long Islanders were scattered among the annual Forbes list of the 400 wealthiest Americans released Monday.
James Simons, the East Setauket resident who made his fortune running a hedge fund that applied mathematical models to financial investing, is the richest Long Islander, with a net worth of $12 billion. Simons, 75, was ranked No. 34 on the list overall. Although his rank fell from No. 28 last year, Simons' net worth rose by $1 billion.
The other Long Islanders ranked are Cablevision's Charles Dolan and family, investment banker Kenneth Langone and hedge fund manager Louis Bacon. All saw their net worth rise year over year.
Ira Rennert, the junk bond trader known for his expansive Sagaponack home -- one of the largest in America -- remained on the list, but Forbes changed his primary residence from Long Island to New York City.
This year, America's superrich got richer. According to Forbes, the 400 people on the annual list posted a combined net worth of $2 trillion, up from $1.7 trillion a year ago. That marks their highest combined value ever in the history of the Forbes' rankings.
Although most of the top names on Forbes' list didn't change from a year ago, the majority of members of the elite club saw their fortunes grow over the past year, helped by strong stock and real estate markets.
Microsoft Corp. co-founder Bill Gates remains America's richest man, taking the top spot on the list for the 20th straight year, with a net worth of $72 billion. New York City Mayor Michael Bloomberg, the founder of the eponymous financial information company, rounds out the top 10 with his $31-billion fortune -- up $6 billion from 2012.
This year's list also included its first transgendered member: Hyatt Hotels heir Jennifer Pritzker, formerly known as James Pritzker, at No. 327 and worth $1.7 billion.
On Long Island, Simons has been the wealthiest resident for many years. The former Stony Brook math professor is the founder of Renaissance Technologies Corp.
Dolan, 86, and his family are ranked 151, down from 132 last year, with a net worth of $3.3 billion. The Oyster Bay resident is the founder of cable company Cablevision Systems Corp., which owns Newsday. The Dolan family's net worth is up $300 million.
Langone, 78, is ranked 260 on the list, up from 298, with $2.1 billion. The Sands Point resident is the current chairman of online retailer Geeknet Inc., and is known for his work on several high-profile initial public offerings, including Home Depot Inc. His worth rose $500 million from last year.
Louis Bacon, 55, is worth $1.4 billion and ranked 371, down from 347. He is the founder of Moore Capital Management LP -- which Forbes said had a return of 13.5 percent in the first half of 2013. On Long Island, the Oyster Bay resident is known for his aid in preserving Peconic Bay's Robins Island. Bacon's fortune increased $100 million.