139 of the 400 Richest Americans are Jewish

Jacob Berkman has estimated in a Jewish Telegraph Agency article that 139 of the Forbes 400 are Jewish.

According to Berkman, the list of Jews on the Forbes 400 list follows.  The first number is their place on the Jewish list.  The second number is their place on the overall Forbes list.  The third number is their net wealth in millions of dollars.  The next number is their age, followed by their address, and finally the source of their wealth.  Those about whose Jewishness Berkman was not sure are marked with asterisks.  I guess that is why we have 149 listed.  Some may not be Jewish, but Berkman thinks at least 139 are.

  1. 3 Lawrence Ellison 27,000 65 Redwood City Oracle
  2. 8 Michael Bloomberg 17,500 67 New York Bloomberg
  3. 11 Sergey Brin 15,300 36 Palo Alto Google
  4. 11 Larry Page 15,300 36 San Francisco Google
  5. 13 Michael Dell 14,500 44 Austin Dell
  6. 14 Steven Ballmer 13,300 53 Seattle Microsoft
  7. 15 George Soros 13,000 79 Westchester hedge funds
  8. 16 Donald Bren 12,000 77 Newport Beach real estate – father is jewish
  9. 22 Carl Icahn 10,500 73 New York leveraged buyouts
  10. 23 Ronald Perelman 10,000 66 New York leveraged buyouts
  11. 24 George B. Kaiser 9,500 67 Tulsa oil & gas, banking
  12. 26 Sheldon Adelson 9,000 76 Las Vegas casinos, hotels
  13. 29 James Simons 8,500 71 East Setauket hedge funds
  14. 36 Steven Cohen 6,400 53 Greenwich hedge funds
  15. 42 Eli Broad 5,400 76 Los Angeles investments
  16. 44 Len Blavatnik 5,000 52 London Access Industries
  17. 44 David Geffen 5,000 66 Malibu movies, music
  18. 44 Ira Rennert 5,000 75 New York investments
  19. 49 Charles Ergen 4,900 56 Denver EchoStar **
  20. 50 Stephen Schwarzman 4,700 62 New York investments
  21. 52 Samuel I. (Si) Newhouse Jr. 4,500 81 New York publishing
  22. 56 Micky Arison 4,300 60 Bal Harbour Carnival Cruises
  23. 61 Ralph Lauren 4,200 70 New York fashion
  24. 65 Lester Crown & family 4,000 84 Wilmette investments
  25. 65 Richard LeFrak & family 4,000 64 New York real estate
  26. 65 Donald Newhouse 4,000 79 Somerset County publishing
  27. 65 Daniel Ziff 4,000 37 New York inheritance, hedge funds
  28. 65 Dirk Ziff 4,000 45 New York inheritance, hedge funds
  29. 65 Robert Ziff 4,000 43 New York inheritance, hedge funds
  30. 77 Henry Kravis 3,800 65 New York leveraged buyouts
  31. 77 Paul Milstein & family 3,800 87 New York Emigrant, real estate
  32. 77 Samuel Zell 3,800 68 Chicago real estate, private equity
  33. 84 Leonard N. Stern 3,600 71 New York real estate
  34. 85 Stanley Druckenmiller 3,500 56 Pittsburgh hedge funds
  35. 85 Bruce Kovner 3,500 64 New York hedge funds
  36. 85 George Roberts 3,500 66 San Francisco leveraged buyouts
  37. 97 Riley P. Bechtel 3,000 57 San Francisco engineering, construction**
  38. 97 Stephen D. Bechtel Jr. 3,000 84 San Francisco engineering, construction**
  39. 97 Leonard Lauder 3,000 76 New York Estee Lauder
  40. 97 Theodore Lerner 3,000 84 Washington real estate
  41. 97 Steven Spielberg 3,000 62 Pacific Palisades movies
  42. 97 Warren Stephens 3,000 52 Little Rock Stephens Inc. **
  43. 97 David Tepper 3,000 52 Milburn hedge funds
  44. 110 Stephen Ross 2,900 69 New York real estate
  45. 113 Daniel Och 2,800 48 New York hedge funds
  46. 113 Haim Saban 2,800 65 Beverly Hills television
  47. 118 Joan Tisch 2,600 83 New York Loews
  48. 123 Edgar M. Bronfman 2,500 80 New York liquor
  49. 123 Ronald Lauder 2,500 65 New York Estee Lauder
  50. 123 Mitchell Rales 2,500 53 Washington Danaher Corp **
  51. 123 Steven Rales 2,500 58 Washington Danaher Corp **
  52. 123 David Rubenstein 2,500 60 Bethesda leveraged buyouts
  53. 139 Mark Cuban 2,400 51 Dallas Broadcast.com
  54. 139 Malcolm Glazer & family 2,400 81 Palm Beach sports teams, real estate
  55. 141 Steve Wynn 2,300 67 Las Vegas casinos, hotels **
  56. 147 Tom Gores 2,200 45 Beverly Hills leveraged buyouts
  57. 147 Bruce Wasserstein 2,200 61 New York Wasserstein Perella, Lazard
  58. 158 Nicolas Berggruen 2,000 48 New York Investments
  59. 158 Leon Black 2,000 58 New York leveraged buyouts
  60. 158 William Gross 2,000 65 Laguna Beach bonds **
  61. 158 Michael Milken 2,000 63 Los Angeles investments
  62. 158 Sumner Redstone 2,000 86 Beverly Hills Viacom
  63. 158 Leslie Wexner 2,000 72 New Albany Limited Brands
  64. 158 Mark Zuckerberg 2,000 25 Palo Alto Facebook
  65. 183 Stewart Rahr 1,950 63 New York Kinray
  66. 193 Alan Casden 1,850 63 Beverly Hills real estate
  67. 196 Thomas Pritzker 1,800 59 Chicago hotels, investments
  68. 196 Jerry Speyer 1,800 69 New York real estate
  69. 204 Israel Englander 1,700 61 New York hedge funds
  70. 204 Penny Pritzker 1,700 50 Chicago hotels, investments
  71. 204 Sheldon Solow 1,700 81 New York real estate
  72. 212 Robert Friedland 1,650 59 Singapore mining
  73. 212 Henry Samueli 1,650 55 Newport Beach Broadcom
  74. 220 Thomas Friedkin 1,600 74 Houston Gulf States Toyota
  75. 220 Alec Gores 1,600 56 Beverly Hills leveraged buyouts
  76. 220 Irwin Jacobs 1,600 76 La Jolla Qualcomm
  77. 220 Anthony Pritzker 1,600 48 Los Angeles hotels, investments
  78. 220 Jay Robert Pritzker 1,600 44 Evanston hotels, investments
  79. 230 John Morgridge 1,550 76 Portola Valley Cisco ** (NETA with Jewish Agency)
  80. 230 Isaac Perlmutter 1,550 67 Palm Beach Marvel
  81. 230 Wilma Tisch 1,550 82 New York Loews
  82. 236 Neil Bluhm 1,500 71 Chicago real estate
  83. 236 Robert Kraft 1,500 68 Brookline New England Patriots
  84. 236 Stephen Mandel 1,500 53 Greenwich hedge funds
  85. 236 Daniel Pritzker 1,500 50 Marin County hotels, investments
  86. 236 James Pritzker 1,500 58 Chicago hotels, investments
  87. 236 Jean (Gigi) Pritzker 1,500 47 Chicago hotels, investments
  88. 236 John Pritzker 1,500 56 San Francisco hotels, investments
  89. 236 Karen Pritzker 1,500 51 New Haven hotels, investments
  90. 236 Linda Pritzker 1,500 55 St. Ignatius hotels, investments
  91. 236 Marc Rich 1,500 74 Meggen commodities
  92. 236 Lynn Schusterman 1,500 70 Tulsa oil & gas, investments
  93. 236 John Sperling 1,500 88 Phoenix Apollo Group
  94. 236 Mortimer Zuckerman 1,500 72 New York real estate, media
  95. 272 George Lindemann & family 1,450 73 Palm Beach investments
  96. 272 Bernard Marcus 1,450 80 Atlanta Home Depot
  97. 277 S. Daniel Abraham 1,400 85 Palm Beach Slim-Fast
  98. 277 John Arrillaga 1,400 72 Palo Alto real estate
  99. 277 Alfred Mann 1,400 83 Los Angeles medical devices
  100. 277 Michael Moritz 1,400 55 Mountain View venture capital
  101. 277 Michael Price 1,400 57 Far Hills investments
  102. 277 Tamir Sapir 1,400 62 New York real estate
  103. 277 Alfred Taubman 1,400 85 Bloomfield Hills real estate
  104. 289 Ken Fisher 1,350 58 Woodside Money management **
  105. 289 David Gottesman 1,350 83 Rye investments
  106. 289 Marc Lasry 1,350 49 New York hedge funds (92nd Street Y)
  107. 296 Edmund Ansin 1,300 73 Miami Sunbeam Broadcasting
  108. 296 Ron Baron 1,300 66 New York money management
  109. 296 Leon Charney 1,300 68 New York Real estate
  110. 296 Glenn Dubin 1,300 52 New York hedge funds
  111. 296 Donald Fisher 1,300 81 San Francisco Gap
  112. 296 Doris Fisher 1,300 78 San Francisco Gap
  113. 296 Jeremy Jacobs Sr. 1,300 69 East Aurora sports concessions
  114. 296 Gary Michelson 1,300 60 Los Angeles medical patents
  115. 317 Arthur Blank 1,250 67 Atlanta Home Depot
  116. 317 Jeffrey Greene 1,250 54 Miami Beach real estate, investments
  117. 317 Thomas H. Lee 1,250 65 New York leveraged buyouts
  118. 317 Herbert Simon 1,250 74 Indianapolis real estate
  119. 317 Peter Sperling 1,250 49 Phoenix Apollo Group
  120. 326 John E. Abele 1,200 72 Shelburne healthcare **
  121. 326 Norman Braman 1,200 77 Miami art, car dealerships
  122. 326 John Fisher 1,200 48 San Francisco Gap
  123. 326 Nicholas Pritzker 1,200 65 Chicago hotels, investments
  124. 326 Alexander Rovt 1,200 57 Brooklyn fertilizer
  125. 326 Margaret Whitman 1,200 53 Atherton Ebay
  126. 341 Leon Cooperman 1,150 66 Short Hills hedge funds
  127. 341 Barry Diller 1,150 67 New York IAC/InterActiveCorp
  128. 341 Joseph Mansueto 1,150 53 Chicago Morningstar **
  129. 347 Marc Benioff 1,100 45 San Francisco Salesforce.com
  130. 347 A. James Clark 1,100 81 Easton Construction **
  131. 347 Robert Fisher 1,100 56 San Francisco Gap
  132. 347 Alan Gerry 1,100 80 Liberty cable television**
  133. 347 James Irsay 1,100 50 Carmel Indianapolis Colts (Father, Bob was Jewish)
  134. 347 Michael Krasny 1,100 56 Highland Park CDW Corp 3
  135. 347 Daniel Snyder 1,100 44 Potomac Washington Redskins
  136. 347 Henry Swieca 1,100 52 New York hedge funds
  137. 366 Peter Lewis 1,050 75 Coconut Grove Progressive Corp
  138. 366 Nelson Peltz 1,050 67 Bedford Investments
  139. 371 William Fisher 1,000 52 San Francisco Gap
  140. 371 Pincus Green 1,000 74 Jerusalem commodities
  141. 371 Jeffry Picower 1,000 67 Palm Beach investments
  142. 371 Steven Schonfeld 1,000 50 Westbury Proprietary Trading
  143. 371 Walter Shorenstein & family 1,000 94 San Francisco real estate
  144. 371 Evgeny (Eugene) Shvidler 1,000 45 London Millhouse LLC
  145. 371 Charles Zegar 1,000 61 New York Bloomberg LP
  146. 394 Jeffrey Lurie 980 58 Haverford Philadelphia Eagles
  147. 396 Nancy Lerner 960 49 Cleveland inheritance
  148. 396 Norma Lerner 960 73 Cleveland inheritance
  149. 396 Randolph Lerner 960 47 Cleveland inheritance
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Democrats Reject Founding Fathers

The Democratic Party has rejected the one of the main ideas embodied in the Constitution by the Founding Fathers.  In Federalist Paper 10 James Madison argued  that the US government should be a republic, not a democracy.  A republic acts through representatives of the people, not by direct votes of the people themselves.  In defending this position Madison says:

A republic, by which I mean a government in which the scheme of representation takes place, opens a different prospect, and promises the cure for which we are seeking. Let us examine the points in which it varies from pure democracy, and we shall comprehend both the nature of the cure and the efficacy which it must derive from the Union.

The two great points of difference between a democracy and a republic are: first, the delegation of the government, in the latter, to a small number of citizens elected by the rest; secondly, the greater number of citizens, and greater sphere of country, over which the latter may be extended.

The effect of the first difference is, on the one hand, to refine and enlarge the public views, by passing them through the medium of a chosen body of citizens, whose wisdom may best discern the true interest of their country, and whose patriotism and love of justice will be least likely to sacrifice it to temporary or partial considerations. Under such a regulation, it may well happen that the public voice, pronounced by the representatives of the people, will be more consonant to the public good than if pronounced by the people themselves, convened for the purpose. On the other hand, the effect may be inverted. Men of factious tempers, of local prejudices, or of sinister designs, may, by intrigue, by corruption, or by other means, first obtain the suffrages,and then betray the interests, of the people. The question resulting is, whether small or extensive republics are more favorable to the election of proper guardians of the public weal; and it is clearly decided in favor of thelatter….

Excerpt From: Alexander Hamilton, James Madison & John Jay. “The Federalist.” Apple Books. https://itunes.apple.com/us/book/the-federalist/id809256982?mt=11

The Constitution did not originally say who was qualified to vote for the representatives of the republic; it left it to the states to decide who was eligible to vote.  Most states allowed only white, male, adult, property owners to vote for representatives.  This was far from a democracy where everyone had a say in the government, as is the case in some New England town meetings.  Over the years the right to vote has been greatly expanded by amendments to the Constitution.  This expansion has created some of the very problems foreseen by the Founding Fathers.  The Democratic Party believes it can get its representatives elected by promising free stuff, particularly to blacks, Hispanics, and recent immigrants, but also to whites, e.g., Medicare and Social Security.   Typically, it has made wider public provision of healthcare the focus of Democratic campaigns in the midterm elections. 

One of Madison’s arguments was that representative government would make it harder for special interests to influence the government, because the representatives would have a broad, diverse constituency.  In practice today, however, gerrymandering and lobbying have undermined this principle.  Congressional districts are not diverse, and the huge amounts of money controlled by the lobbyists give them inordinate power over the wishes of ordinary citizens.  The result has been a distortion that benefits both ends of the population spectrum.  Poorer voters get more government benefits because Democrats pander to their demands, and richer voters get more government benefits because their lobbyists bribe lawmakers to give them.  The middle class essentially gets left out.  Their votes are not for sale, but they can’t afford to buy politicians. 

Madison’s response would probably be that the elected representatives should be people of high moral character and intelligence who would serve the country’s interest, rather than a few of their constituents, but this does not seem to be the case today, with a few exceptions. 

Stopping immigration weakens the Democratic approach of winning over poorer voters with government benefits.  There are remedies for limiting the influence of wealth in the Republican Party, such as higher income and inheritance taxes, and limits on campaign contributions, perhaps requiring that all campaigns must be limited to public funding; however, I don’t see any movement toward these reforms. 

Jews and Trump

President Trump has attacked Fed Chair Jay Powell for being crazy, in an attempt to place the blame on Powell for the recent stock market declines. I like Powell because he is the first non-Jewish chair of the Fed in about 50 years, except for one year in the 1970s under William Miller. I think the Jewish chairmen have used their position to financially benefit their Jewish brethren at the expense of non-Jews. I don’t think they have done anything illegal, but when there are several approaches to dealing with problems, they have usually chosen the one that will benefit other Jews. This has been apparent for the last 10 years, when interest rates have been held close to zero, benefitting investors who take bigger gambles, typically Jews, rather than people who just want to invest conservatively for the long term. Before the 2008 crash, conservative investors could buy bonds or just put money in savings accounts for the interest they paid; after the crash bonds paid nothing, and for any return investors had to buy riskier assets. One result of this Jewish approach has been to radically increase income and wealth inequality, benefitting the wealthy, including Jews disproportionately, and penalizing the middle class, mostly non-Jewish whites. By increasing interest rates, Powell is taking away the Jews’ punchbowl.

Rather than hearing complaints from Jews in the financial industry, such as Goldman Sachs, we are hearing criticism from President Trump. How do we account for that? One answer is that Jewishness has nothing to do with the matter; it’s just about money! Another possibility is that the Jews don’t have to speak out because Trump is speaking for them.

I’m not sure what kind of relationship Trump has with Jews in general, or if he even sees it as a different relationship from his relations with other types of people, white Christians, Hispanics, etc. New York is a Jewish city, particularly Manhattan, where Trump has lived and worked most of his life. Roy Cohn, Jewish lawyer for Senator Joe McCarthy, was one of his mentors. I think New York real estate is a particularly Jewish profession, but Trump has succeeded at it while being a white Protestant. He has worked so closely with Jews that his son-in-law, Jared Kushner, is Jewish and his daughter Ivanka has converted to Judaism. Yet establishment Jews have broken with him on many of his key issues. Gary Cohn, who was supposed to represent the best of Jewish financial thought, has left his administration. Treasury Secretary Mnuchin is still there. Trump is a strong supporter of Israel, breaking with the rest of the world and moving the US embassy to Jerusalem.

On the other hand, his opposition to unlimited immigration and support for Southerners’ defense of their heritage have put him at odds with many liberal Jews. Most recently, his nomination of and support for Brett Kavanaugh for Supreme Court justice put him at odds with most of the Jews in the Senate, particularly Diane Feinstein, who led a Democratic Jewish attack casting filthy accusations against Kavanaugh in an attempt to block his approval. This vile confrontation was basically a religious one, with Jews opposing Kavanaugh because as a Catholic Christian he opposes abortion, while Jews support access to abortion.

I was pleased when Trump named a non-Jew, Jay Powell, to be chairman of the Fed, breaking with tradition. But now Trump is criticizing Powell for trying to raise interest rates to a normal level. Trump is now siding with the Jewish speculators against his own Fed chairman. Which is the real Trump? The one who named Powell, or the one who attacked him? I don’t know, but I want Powell to stay.

It looks like the conservative Jews who were so prevalent in previous Republican administrations — William Kristol, Paul Wolfowitz, Elliot Abrams, Scooter Libby, Richard Perle, and Douglas Feith, for example — are either opposed to Trump or missing in action. I’m sure that Trump has some Jewish friends and colleagues from his years of living and working in New York, but they are not too visible right now, except for his former lawyer Michael Cohen, and Trump would probably prefer that he had remained invisible.