Two New Jersey families listed among richest in country by Forbes

Kyle Morel, NorthJersey.com
Updated 3 min read
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Two New Jersey families, including the New York Jets' owner and former White House official under President Donald Trump, are among the richest in America for 2024, according to Forbes.

The Dorrance family, heirs to the Campbell Soup Company, and the Johnson family, owners of pharmaceutical giant Johnson & Johnson, made the business magazine's list of the 45 families worth at least $10 billion, released last month. The Dorrances, valued at $17 billion, came in at 23rd on the list, while the Johnsons slotted in at 26th, with a $16 billion net worth.

The richest American family by a wide margin is the Walton family, descendants of Walmart founders Sam and Bud Walton. The seven family members share a net worth of $267 billion, more than double the Mars family — owners of the candy empire — who came in at No. 2 on the list, at $117 billion.

First classic red label of Campbell Soup made in Camden when the business was first called Joseph Campell Preserve Co.
First classic red label of Campbell Soup made in Camden when the business was first called Joseph Campell Preserve Co.

Dorrance family

Family patriarch John T. Dorrance invented the formula for condensed soup in 1869 and served as president of the company from 1914 until his death in 1930, according to Forbes' website. Today, Campbell's is a global food brand based in Camden that generates more than $9 billion in annual revenue.

Three family members sit on the company's board: Dorrance's granddaughter, Mary Alice Malone, along with her cousin Archbold van Beuren and her nephew Bennett Dorrance Jr.

Johnson family

Robert Wood Johnson founded Johnson & Johnson in 1886 to sell dental floss and first-aid kits, according to Forbes. His son Robert Wood Johnson II became president in 1932 and soon turned the New Brunswick-based family business into a global empire.

The expansion produced large fortunes for the younger Johnson, known as "The General," and his brother, Seward Johnson. The General left much of his money to the Robert Wood Johnson Foundation upon his death, and the rest of the brothers' assets were passed down to heirs.

The founder's great-grandson, Robert Wood "Woody" Johnson IV, is best known as the owner of the NFL's New York Jets since 2000. He also served as the U.S. ambassador to the United Kingdom during the Trump presidency.

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The Forbes website shows that the Johnson family's net worth has nearly tripled over the past decade, rising from $5.9 billion in 2014 to $16 billion today.

Richest families

Here is the list of top 10 richest families in the U.S., compiled by Forbes, with the primary source of their net worth:

  1. Walton family, $267 billion; Walmart.

  2. Mars family, $117 billion; candy.

  3. Koch family, $116 billion; diversified.

  4. Cargill-MacMillan family, $60.6 billion; Cargill Inc.

  5. (Edward) Johnson family, $44.8 billion; money management.

  6. Pritzker family, $41.6 billion; hotels, investments.

  7. S.C. Johnson family, $38.5 billion; cleaning products.

  8. Cathy family, $33.6 billion; Chick-fil-A.

  9. Duncan family, $30 billion; pipelines.

  10. Cox family, $26.2 billion; media.

This article originally appeared on NorthJersey.com: Richest families in New Jersey according to Forbes

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