5 Billionaire Illinoisans Are the Richest of All

The wealthiest person in Illinois is the 157th richest person in the world. And his net worth increased by $1 billion in the last year, according to Forbes magazine, which ranked Citadel hedge fund founder Ken Griffin among the globe's leading billionaires.

Griffin's net worth is pegged at $7.5 billion.

Forbes' annual list of people who've gathered obscene amounts of cash was published this week.

"Ken Griffin's hedge fund firm, Citadel, has performed very well in recent years while most other hedge funds have disappointed," writes Forbes. "Griffin's great run continued in 2015, when his main hedge funds posted returns of 14.3% net of fees. Citadel's Global Equities hedge fund returned 17.2% net of fees and its Tactical Trading fund posted a 16% net return. Griffin's firm, however, did suffer losses at the start of 2016."

The collective net worth of the world's upper-upper-crusters dropped $570 billion from last year's Forbes report.

Sam Zell retained his second-place ranking in Illinois (No. 298 globally). The 74-year-old real-estate developer's net worth was listed at $4.8 billion. Writes Forbes: "In January 2016 investor Sam Zell closed his biggest deal since 2012, selling more than 23,000 apartments -- about 20% of his Equity Residential's portfolio -- to Barry Sternlicht's Starwood Capital. The sell-off involves suburban properties -- in Southern California, Seattle, Denver, Washington, D.C., and southern Florida -- and was part of a long-term plan to move to properties in core urban areas favored by Millennials and retirees."

Neil Bluhm, 78, founder of Walton Street Capital, ranked third among Illinoisans on the Forbes list (No. 477 in the world) with a net worth of $3.4 billion. Writes Forbes: "Neil Bluhm grew up in a cramped Chicago apartment and now owns several of the city's most prominent buildings -- along with real estate and casinos around the country. His father abandoned his family when he was 13, and Bluhm's mother raised him and his sister on a bookkeeper's salary. By 31, Bluhm made partner in a Chicago law firm. With three kids and a big mortgage on his house, he quit the legal world and partnered with his college roommate in hopes of striking it rich in real estate."

Zell and Bluhm each lost $100 million in net worth. Chump change in the grand scheme of things.

Every year for the last 30, Forbes counts the proverbial shekels amassed by the world's richest individuals and ranks them. They are the elite of the 1 percenters.

“For our 30th annual guide to the world’s richest, we found 1,810 billionaires, down from a record 1,826 a year ago," reports Forbes. "Their aggregate net worth was $6.48 trillion, $570 billion less than last year. It was also the first time since 2010 that the average net worth of a billionaire dropped — it is now $3.6 billion, $300 million less than last year.”

There are no new aces at the top of the country’s billionaire heap: Microsoft co-founder Bill Gates, Berkshire Hathaway’s Warren Buffett and Oracle’s Larry Ellison are the leaders. Again.

But making the Forbes 400 was tougher this year.

“Admission to the list starts at a record $1.7 billion, up $150 million from a year ago,” Forbes wrote. “It’s a high bar that 145 U.S. billionaires failed to clear. Still, 25 newcomers debut thanks to hot stocks, big deals and rising property values. And even in a volatile year, these titans climbed higher to a collective $2.34 trillion.

Only three Illinois residents made the Forbes 400 cut.

• see the full Forbes 400 Billionaires list

Further down the list, you have 51-year-old J.B. Pritzker (No. 527 globally), with a net worth of $3.2 billion, down $200 million. His 55-year-old brother Anthony's net worth was also ranked at $3.2 billion (tied at No. 527 in the world).

Writes Forbes: "J.B. Pritzker, an heir to the Hyatt Hotel fortune, works with his brother Anthony ("Tony") running The Pritzker Group, a private equity and venture capital firm with offices in Chicago and Los Angeles. Their firm went on a summer buying spree in 2015, acquiring three companies in two months. He still has about 6 million shares of the hotel chain, worth roughly $300 million."