AP NEWS

Forbes: Greenwich billionaire’s wealth tops $18B

March 5, 2019

Forbes estimated at $18.4 billion the personal fortune of Bridgewater Associates founder Ray Dalio, ranking him 57th on the magazine’s annual list of global billionaires.

Dalio was one of 17 Connecticut residents to make this year’s list, of more than 600 in the United States and 2,150 globally, with Forbes calculating an $800 million increase in Dalio’s net worth last year leading the world’s largest hedge fund based in Westport.

Amazon founder Jeff Bezos led the list a second straight year with $131 billion in assets, with the United States adding 21 billionaires last year on a net basis including Kylie Jenner, at age 21 the youngest self-made billionaire ever as defined by Forbes based on the estimated value of her Kylie Cosmetics brand.

The next four richest Americans were Bill Gates, Warren Buffet, Larry Ellison and Mark Zuckerberg. President Trump’s net worth was flat from a year ago at $3.1 billion, nearly half of those assets representing New York City real estate he controls.

Steve Cohen of Greenwich ranked second among Connecticut billionaires and just outside the top 100 globally, with $12.9 billion in personal assets leading Point72 Asset Management in Stamford. Tudor Investment Corp. founder Paul Tudor Jones II of Greenwich had estimated worth of $5.1 billion to rank inside the top 350.

China had the biggest net drop in billionaires from a year ago, with 49 fewer this year according to Forbes estimates.

Alex.Soule@scni.com; 203-842-2545; @casoulman