These LI Billionaires Are Among World’s Richest: Forbes

LONG ISLAND, NY — Those on the world’s billionaires list, which includes Long Island residents, aren’t as flush as they were a year ago, but collectively are still worth $12.2 trillion, Forbes said with the release of its annual list.

That’s down from $12.7 trillion last year. Nearly half the list is less wealthy than a year ago, including Elon Musk, who lost his No.1 spot after shares in Tesla fell when he bought Twitter. Musk is now No.2 on the list and was worth $192.8 billion Wednesday morning after having made about $12.8 billion since Tuesday.

Twenty-eight people fell off the list altogether, with the number of people with 10-figure fortunes now at 2,640. The United States has the most billionaires of any country — 735 people collectively worth $4.5 trillion. Overall, Forbes attributed the loss of wealth to falling stock markets, especially in the technology sector, and rising interest rates.

To calculate net worth, Forbes used stock prices and exchange rates from March 10 to determine the ranking, but updates wealth in real time. Below are the Long Island billionaires who made the list:

• Katherine Rayner, East Hampton
  • Inherited estimated 17% stake in media and automotive conglomerate Cox Enterprises
  • Worth $5.5 billion, ranked No. 463 in world
• Jim Simons, East Setauket
  • Founder of Renaissance Technologies (quantitative trading hedge fund firm)
  • Worth $28.1 billion, ranked No. 48 in world

• Mitchell Jacobson, Locust Valley
  • MSC Direct (office and industrial equipment distributor)
  • Worth $1.3 billion, ranked No. 2033 in the world
• Charles Dolan, Oyster Bay
  • Dolan and his family own controlling stakes in AMC Networks and Madison Square Garden's entertainment and sports companies
  • Worth $4.6 billion, ranked No. 615 in world
• Louis Bacon, Oyster Bay
  
  • Created hedge fund Moore Capital.
  • Worth $1.6 billion, ranked No. 1882 in world

• Don Vultaggio, Port Washington
  • Cofounded Arizona Beverages
    • Worth $7 billion, ranked No. 340 in world
• Pablo Legorreta, Sag Harbor
  • Founder of Royalty Pharma
  • Worth $3.4 billion, ranked No. 874 in world
• Axel Stawski, Sagaponack
  • Founded real estate firm Stawski Partners
  • Worth $1.5 billion, ranked No. 1982 in world
• Ken Langone, Sands Point
  • Early investor in Home Depot and helped cofound the chain
• Margaretta Taylor, Southampton
  • Inherited an estimated 17 percent stake in communications, media and automotive conglomerate Cox Enterprises.
  • Worth $5.5 billion, ranked No. 485 in world.

With Musk’s slip from the No. 1 position, Bernard Arnault, who heads luxury goods giant LVMH, tops the list as the richest person in the world.

It’s the first time a citizen of France has led the ranking, whose top 10 includes seven U.S. billionaires. Besides Musk, they are (net worth is reflected as of Wednesday and may not align exactly with their placement on the list):

• Jeff Bezos, Amazon, worth $126.9 billion;
• Larry Ellison, Oracle, worth $118.9 billion;
• Bill Gates, Bill and Melinda Gates Foundation, worth $109.9 billion;
• Warren Buffett, Berkshire Hathaway, worth $107.4 billion;
• Michael Bloomberg, Bloomberg Inc., worth $95.4 billion; and
• Steve Balmer, Microsoft, worth $90.1 billion.

Correction: The original version of this article mistakenly omitted seven billionaires from the list. This article has been updated to include them.