The 25 richest people in New York, ranked

Source of wealth: Hartz Mountain Industries, Inc.

Industry: Real Estate

Net worth: $4.80 billion

Leonard Stern built his real estate empire by purchasing warehouses, the majority of which are located in New Jersey. After over 50 years in the business, Stern owns over 42 million square feet of property. New York University's business school bears his name, following his $30 million donation to the university.

Source of wealth: Paulson & Co.

Industry: Finance & Investments

Net worth: $5.00 billion

Founder of hedge fund Paulson & Co., John Paulson previously worked at New York investment company Bear Stearns. According to Forbes, "John Paulson made his fortune betting against subprime mortgages at the peak of the 2007 credit bubble."

Source of wealth: Solow Building Company

Industry: Real Estate

Net worth: $5.16 billion

Sheldon Solow earned both fame and fortune upon completion of the Solow Building — otherwise known as West 57 Street on New York City's Billionaire Row. Along with fashion label Chanel, the skyscraper houses Leon Black's Apollo Global Management and Henry Kravis' KKR — two other New York billionaires who rank on this list.

Source of wealth: Caxton Associates LP

Industry: Finance & Investments

Net worth: $5.23 billion

Bruce Kovner headed his hedge fund Caxton Associates for three decades before retiring in 2011. According to Forbes, he has donated to New York funds for the Met Opera, Lincoln Center, and Julliard.

Source of wealth: KKR & Co.

Industry: Finance & Investments

Net worth: $5.57 billion

Henry Kravis currently serves as KKR's co-chairman and co-CEO, founded with — and named after — Henry Kravis and Jerome Kohlberg. The firm bought RJR Nabisco for $25 billion in 1989. Since the firm's success, Kravis has donated $125 million to Columbia Business School.

Source of wealth: Cablevision Systems Corp.

Industry: Media & Entertainment

Net worth: $5.64 billion

Chairman and founder of Cablevision Systems, Charles Dolan sold his company in 2016 for $17.7 billion. In addition to this main source of wealth, Dolan holds the majority shares for both AMC Networks and Madison Square Garden.

Source of wealth: Two Sigma Investments

Industry: Finance & Investments

Net worth: $6.14 billion

Cofounder and co-chairman of Two Sigma Investments, David Siegel is one of the most successful hedge fund managers. Today, the company manages over $57 billion.

Source of wealth: Two Sigma Investments

Industry: Finance & Investments

Net worth: $6.14 billion

Alongside David Spiegel, John Overdeck co-founded and co-chairs Two Sigma Investments. The hedge fund is headquartered in SoHo.

Source of wealth: LeFrak Organization

Industry: Real Estate

Net worth: $6.29 billion

Richard LeFrak inherited LeFrak Organization from his father in 2003. He currently serves as CEO of the massive real estate company and plans to pass on the empire to his two sons. LeFrak City — a 5,000-apartment complex in Queens — also carries the family name.

Source of wealth: Apollo Global Management

Industry: Finance & Investments

Net worth: $6.35 billion

After the bank he worked at filed for bankruptcy, Leon Black started Apollo Global Management with two colleagues in 1999. Today, the firm manages over $269 billion, with Black owning approximately 21% of the company.

Source of wealth: Millennium Management, LLC

Industry: Finance & Investments

Net worth: $6.40 billion

Founder of Millennium Management firm, hedge-fund manager Israel Englander started his company in 1989. After starting the company with $35 million, he now oversees $35 billion. He attended New York University and began his career at Kaufmann, Alsberg & Co.

Source of wealth: Cox Enterprises

Industry: Media & Entertainment

Net worth: $6.42 billion

James Chambers, Katharine Rayner, and Margaretta Taylor inherited their family's fortune when their mother — Anne Cox Chambers — died in 2016. The three children each received a 17% stake in Cox Enterprises, which their grandfather James M. Cox founded in 1898.

Today, the conglomerate is worth $20.4 billion, with Margaretta's son Alex Taylor serving as president and CEO. The company is based in Atlanta, though it also has major New York offices. Katharine serves on the New York Public Library board of directors.

Source of wealth: Ralph Lauren

Industry: Fashion & Retail

Net worth: $6.98 billion

Though he relinquished his title as CEO in 2015, New York native Ralph Lauren still serves as his fashion label's executive chairman and chief creative officer. The company began in 1967 in the Empire State building, and 50 years later celebrated its semi-centennial anniversary with a star-studded guest list in Central Park.

Source of wealth: D.E. Shaw & Co.

Industry: Finance & Investments

Net worth: $7.00 billion

Founder of self-named firm D.E. Shaw, hedge-fund manager David Shaw is also a former Columbia University computer science professor. Shaw has not worked at the firm since 2002, instead working at his research firm — D.E. Shaw Research — as the company's chief scientist.

Source of wealth: Related Companies

Industry: Real Estate

Net worth: $7.69 billion

Real estate mogul Stephen Ross continues to make headlines for his rapidly growing $25 billion project: New York's Hudson Yards. Both his penthouse and his company offices are in the Time Warner Center. Additionally, Ross is the owner of the Miami Dolphins football team.

Source of wealth: Soros Fund Management LLC

Industry: Finance & Investments

Net worth: $8.30 billion

Following a 42-year career on Wall Street, George Soros now lives upstate after retiring from his company, Soros Fund Management LLC. Soros is perhaps most famous for his impact on the British stock market in 1992, on a day that became known as "Black Wednesday."

According to Forbes, "Soros made $1.5 billion in just a single month by betting the British pound and several other European currencies were priced too richly against the German deutsche mark."

Source of wealth: MacAndrews & Forbes Incorporated

Industry: Finance & Investments

Net worth: $9.09 billion

Owner and chairman of investment firm MacAndrews & Forbes, Ronald Perelman holds significant shares in companies such as AM General, Deluxe Entertainment, and Revlon cosmetics. His daughter Debra is the cosmetics empire's reigning president and CEO.

In 2016, Perelman donated $75 million for a new arts center at the World Trade Center. The Ronald O. Perelman Center for the Performing Arts will open in 2021.

Source of wealth: Advance Publications

Industry: Media & Entertainment

Net worth: $12.09 billion

Donald Newhouse owns Advance Publications, the massive empire that includes Condé Nast publications, Reddit, and the Discovery Channel. Newhouse's brother Samuel — with whom he split the family fortune — died in 2017. Newhouse still serves as company president.

Source of wealth: Blackstone Group

Industry: Finance & Investments

Net worth: $13.46 billion

Founder, chairman, and reigning CEO of Blackstone private equity firm, Stephen Schwarzman heads the world's largest buyout firm. According to Forbes, the company has an estimated $439 billion in assets. Schwarzman has donated to the New York Public Library and other organizations.

Source of wealth: The Estée Lauder Companies

Industry: Fashion & Retail

Net worth: $15.71 billion

Currently the chairman emeritus, Leonard Lauder first joined his mother's self-named company in 1958 and is responsible for the acquisition of MAC, Bobbi Brown, and Aveda brands during his career. Lauder retired as the company's CEO in 1999.

Source of wealth: Access Industries

Industry: Diversified

Net worth: $18.06 billion

Len Blavatnik's fortune comes from his New York company Access Industries. The firm owns major shares in names across varied industries, from chemical company LyondellBasell to fashion brand Tory Burch.

Source of wealth: Icahn Enterprises

Industry: Finance & Investments

Net worth: $18.13 billion

Founder of Icahn Capital Management, Carl Icahn heads his successful holdings company as well as his investment fund Icahn Enterprises. Additionally, he briefly served as a special advisor to the Trump Administration during 2017.

Source of wealth: News Corp

Industry: Media & Entertainment

Net worth: $19.09 billion

Chairman and CEO of "media empire" News Corp, Rupert Murdoch heads publications such as The Wall Street Journal and conservative cable channel Fox News. After starting out with a small Australian newspaper, Murdoch's first major purchase in the US was in 1976 when he acquired The New York Post.

Just this year, Murdoch finalized his newsworthy deal with conglomerate The Walt Disney Company: Disney purchased Fox for a grand total of $71 billion, which will substantially grow his family's fortune.

Source of wealth: Koch Industries

Industry: Diversified

Net worth: $52.00 billion

Now the director emeritus, David Koch previously served as executive vice president of his family's self-named business. His brother Charles — who shares the same net worth — still lives and heads the company from its main headquarters in Wichita.

According to Forbes, Koch has made major contributions to New York organizations such as the Lincoln Center for the Performing Arts and Memorial-Sloan Kettering Cancer Center.

Source of wealth: Bloomberg LP

Industry: Media & Entertainment

Net worth: $59.44 billion

Beginning his career on Wall Street, Michael Bloomberg cofounded Bloomberg LP in 1981. Bloomberg owns 88% of the company — now worth over $9 billion. Additionally, Bloomberg served as New York City mayor for over a decade from 2001 to 2013 before resuming his role as company CEO in 2014.