BY BOB HOLT

NEWJERSEYNEWSROOM.COM

According to Forbes magazine, the 1 percent is still getting richer.

Forbes has released its list of the 400 richest people in America, and five New Jersey residents were able to gain positions.

The people on the Forbes list increased their net worth by $0.2 trillion this year, according to NorthJersey.com, and two-thirds of them added to their wealth.

Forbes reported that Number 51 on their list was 82-year-old Donald Newhouse of Somerset County. Newhouse oversees Advance Publications, which operates newspapers in more than 25 American cities. Newhouse’s net worth is $6.6 billion.

Hedge fund analyst David Tepper, 55, checked in at Number 59 with a net worth of $5.5 billion. Tepper, from Livingston, is the president and founder of Appaloosa Management. Leon G. Cooperman, 69, of Short Hills, is the founder of Omega Advisors, Inc. He was worth $2.2 billion, earning position number 218 on the Forbes list.

72-year-old Peter Kellogg, also of Short Hills, came in at Number 229, worth $2.1 billion. Kellogg took over as Chief Executive of Spear, Leeds & Kellogg from his father in 1978, and continued to earn money through reinvestments. And coming in at Number 328 is Michael Price of Far Hills, with earnings of $1.4 billion. The 60-year-old Price is president of MFP Investors, Inc.

Chinadaily.com reported that Microsoft founder Bill Gates led the Forbes list for the 19th year in a row. Meanwhile, Facebook’s Mark Zuckerberg saw his fortune drop from $17.5 billion to a paltry $9.4 billion.

New Jersey’s own Jon Bon Jovi is not a billionaire, but he made the cover of the Forbes issue, according to philly.com. The issue highlights the charitable works of the rich, and Bon Jovi’s Soul Kitchen in Red Bank has served more than 10,000 meals.

The singer/entrepreneur is also involved in a number of projects in Philadelphia. He came in at number 25 on the Forbes Celebrity 100 in May with $60 million in earnings.