Page 128 - Forbes - USA (October 2019)

• B E G I N N I N G S •
21. JIM SIMONS caddie at age 11. He launched Sam Zell (No. 119), who went
Bridgewater in 1975 from his on to become a repeat client at
$21.6 BILLION S SELF-MADE SCORE: * New York City apartment. Blackstone.
SOURCE: HEDGE FUNDS
AGE: 81 RESIDENCE: EAST SETAUKET, NY
27. LEN BLAVATNIK 30. CARL ICAHN
PHILANTHROPY SCORE:
The wealthiest hedge fund man- $18.3 BILLION S SELF-MADE SCORE: ( $17.6 BILLION S SELF-MADE SCORE: (
ager on the planet is the found- SOURCE: DIVERSIFIED SOURCE: INVESTMENTS
er of Renaissance Technologies, AGE: 62 RESIDENCE: LONDON AGE: 83 RESIDENCE: NEW YORK CITY
an esteemed quantitative trad- PHILANTHROPY SCORE: PHILANTHROPY SCORE:
ing firm that manages $68 billion. In November 2018 the Soviet- At 83, Icahn is still throwing his
124 A big chunk of that belongs to Si- born, U.S.-educated billionaire weight around markets. He has
mons and other Renaissance in- pledged $200 million through been fighting Occidental Petro-
siders. A code breaker for the U.S. his foundation to Harvard Med- leum’s $55 billion (including
T
S during the Vietnam War and a for- ical School, the school’s largest debt) acquisition of Andarko Pe-
I
L mer math teacher, Simons found- gift ever. It follows multimillion- troleum, which went through
ed Renaissance in 1982 and retired
E dollar gifts to Oxford, U Penn, in August. Icahn calls the deal
H in 2010, but remains involved as Columbia and Stanford. Blavat- “misguided and hugely over-
T
chairman. nik and partners bought former priced.” His main investing ve-
34. ABIGAIL JOHNSON Soviet state-owned oil compa- hicle is publicly traded Icahn
22. LAURENE POWELL JOBS $14 BILLION T ny TNK and sold it to Rosneft in Enterprises. His first job was
& FAMILY SELF-MADE SCORE: # 2013. He acquired Warner Music working as a beach boy at a club
on Long Island. Icahn, then 16,
Group in 2011 and engineered
SOURCE: MONEY MANAGEMENT
AGE: 57 RESIDENCE: MILTON, MA the creation of multinational made extra money playing poker
$21.3 BILLION S SELF-MADE SCORE: @ chemical company LyondellBa- with some of the members. The
SOURCE: APPLE, DISNEY PHILANTHROPY SCORE:
sell in 2007. longtime New Yorker is planning
AGE: 55 RESIDENCE: PALO ALTO, CA Johnson started out as a sum-
on moving his business to Flori-
PHILANTHROPY SCORE: mer intern at Fidelity, her fam- da, where taxes are lower.
Steve Jobs’ widow founded Em- ily’s mutual fund giant. She 28. LUKAS WALTON
erson Collective, a hybrid philan- joined the firm as an equity $18.1 BILLION S SELF-MADE SCORE: ! 31. THOMAS PETERFFY
thropic and investing limited lia- analyst in 1988. She took over SOURCE: WALMART
bility company, in 2016 to tackle as CEO in 2014 from her father AGE: 33 RESIDENCE: JACKSON, WY $17.5 BILLION T SELF-MADE SCORE: )
issues including securing human Edward “Ned” Johnson III (No. PHILANTHROPY SCORE: SOURCE: DISCOUNT BROKERAGE
rights for immigrants and improv- 79) and has moved the firm AGE: 75 RESIDENCE: PALM BEACH, FL
ing U.S. schools. Emerson Collec- into low-cost index funds and He inherited a stake in Walmart PHILANTHROPY SCORE: N.A.
tive owns stakes in media (Pop- socially responsible funds. She when his father, John, son of
Up Magazine, Axios, OzyMedia), owns an estimated one fourth founder Sam Walton, died in a The father of digital trading
sports (the NBA’s Washington Wiz- of Fidelity, the second-largest plane crash in 2005. He stud- stepped down in September
ards and NHL’s Washington Capi- mutual fund company (behind ied environmentally sustainable as CEO of Interactive Brokers,
tals) and tech startups. Vanguard), with $2.7 trillion in business at Colorado College which he founded in 1993. He
managed assets. and now invests in eco-friendly remains chairman of the firm,
funds. He has donated at least which markets a specialized
23. ELON MUSK $149 million to the Walton Fam- trading platform to sophisticat-
ily Foundation. ed investors. His first job at age
$19.9 BILLION S SELF-MADE SCORE: * man emeritus of the cosmetics
SOURCE: TESLA MOTORS, SPACEX 8 was helping his building’s su-
giant that he ran as CEO for 17 perintendent stack and deliv-
AGE: 48 RESIDENCE: LOS ANGELES 29. STEPHEN
years got a $5.4 billion boost to his er wood to other tenants. At 12
PHILANTHROPY SCORE: fortune in the past year as shares SCHWARZMAN he illegally sold Juicy Fruit gum
Musk is working to rehab his soared along with revenues, par- to classmates in his native Hun-
image following a tumultuous ticularly in markets like China, $17.7 BILLION S SELF-MADE SCORE: * gary at more than double the
2018, much of it the result of India and Russia. SOURCE: INVESTMENTS price. He immigrated to Ameri-
his Twitter usage. Things are on AGE: 72 RESIDENCE: NEW YORK CITY ca in 1965 at age 21.
the upswing at Tesla, his electric 26. RAY DALIO PHILANTHROPY SCORE:
carmaker, which churned out The Blackstone cofounder and 32. DONALD BREN
roughly 87,000 cars in the sec- $18.7 BILLION S SELF-MADE SCORE: * CEO began working at his
ond quarter, 33,700 more than SOURCE: HEDGE FUNDS family’s store, Schwarzman’s $17 BILLION S SELF-MADE SCORE: *
the same quarter last year. Still, AGE: 70 RESIDENCE: GREENWICH, CT Curtains and Linens, at age SOURCE: REAL ESTATE
shares are down 14% from the PHILANTHROPY SCORE: 10, wrapping gifts and fold- AGE: 87 RESIDENCE: NEWPORT
heady stock price 12 months ago. ing handkerchiefs. He start- BEACH, CA
Several times this year, the
Musk taught himself to code as a ed a lawn-mowing business
founder of Bridgewater As- PHILANTHROPY SCORE:
kid and sold his first video game, sociates, the world’s biggest at 14, employing his young- The nation’s richest real estate
Blastar, for $500. hedge fund firm, with $160 bil- er twin brothers to mow while baron owns 550 office build-
lion under management, called he brought in the clients. “Our ings and 125 apartment com-
25. LEONARD LAUDER out wealth inequality as a na- business lasted three full years plexes through his Irvine Com-
tional issue and voiced con- before we had an employee pany, mostly in Orange County,
$18.8 BILLION S SELF-MADE SCORE: % cerns about the limits of capi- strike,” Schwarzman says. In California. He also owns the
SOURCE: ESTÉE LAUDER his memoir, published in Sep-
talism. In April he and his wife Metlife Building in Manhattan.
AGE: 82 RESIDENCE: NEW YORK CITY
pledged to contribute $100 mil- tember, the Philadelphia na- Bren went to college on a ski-
PHILANTHROPY SCORE: lion to Connecticut’s lowest tive revealed that the first vis- ing scholarship and spent three
The eldest son of legendary Estée performing schools; the state itor to Blackstone in 1985, the years as a U.S. Marine Corps of-
Lauder is writing his memoir, set will match the funds. Dalio’s year it was founded, was then ficer. He built his first house in
to hit shelves in 2020. The chair- first job was working as a golf little-known real estate investor 1958 with a $10,000 bank loan.

O C T O B E R 3 1 , 2 0 1 9
F O R B E S . C O M
WEALTH INHERITED VS. SELF-MADE CHANGE IN WEALTH KEY: S UP T DOWN SIGNATORY OF THE PHILANTHROPY SCORE
! @ # $ % ^ & * ( ) WX UNCHANGED Ì NEW TO LIST 3 RETURNEE GIVING PLEDGE