Ashtyn Asay New Jersey is home to plenty of successful business leaders, entrepreneurs, and billionaires, but one Essex County resident stands above the rest. According to Forbes’ 2026 list of the Richest Person in Every State, New Jersey’s wealthiest resident is Peter Kellogg, a billionaire investor from Short Hills. With an estimated net worth of $5.8 billion, Peter ranks No. 1 in New Jersey and No. 780 among the richest people in the world. His fortune comes largely from a career in finance, including the sale of a major Wall Street brokerage firm to Goldman Sachs. Here’s what to know about New Jersey’s richest resident.
The Wealthiest NJ Resident
Forbes released its annual Richest Person In Every State ranking on October 14th. This list tracks the wealthiest residents across the nation with estimates based on business ownership, investments, and other assets. The publication’s 2026 ranking listed Short Hills resident Peter Kellogg, 84, as New Jersey’s wealthiest person, estimating his net worth at $5.8 billion. At the time of this article, Peter was also ranked as the 724th richest person globally.
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This is the first time Peter has been listed as New Jersey’s richest person. John Overdeck, co-Founder and co-chairman of Two Sigma, took the top spot in 2025 with a net worth of $7.4 billion. According to Forbes, John has since moved to Palm Beach, Florida.
Rocco Commisso, founder and CEO of New York-based Mediacom and a Saddle River resident, ranked as New Jersey’s richest person in 2024 with a net worth of $8 billion. He passed away on January 16th at the age of 76.
Who Is Peter Kellogg?
So, who is the Garden State’s wealthiest person? According to his Forbes profile, Peter is a longtime Wall Street executive and investor. He earned a bachelor’s degree from Babson College and began his career at the brokerage firm Spear, Leeds & Kellogg in 1973, where his father was a partner. Peter eventually took on a leadership role at the company, helping grow it into a major player in the stock market. Under his leadership, Spear, Leeds & Kellogg became the first specialist brokerage firm to control more than 10% of the stocks traded on the New York Stock Exchange.
In 2000, Peter sold the brokerage firm to Goldman Sachs in a deal valued at $6.5 billion in cash and stock. The sale marked a major milestone in his career and helped establish the fortune behind his current billionaire status. Peter later served as CEO of IAT, an insurance and reinsurance company, until 2015. He continues to serve as the company’s chairman.
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Beyond his business career, Peter has donated more than $4 million to the U.S. ski and snowboard teams. He is married and has three children.
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