Editing Old Westbury, New York (section)

== Wealth ==
According to ''Bloomberg/Businessweek'', as of 2011, Old Westbury was the second "richest" town in the United States, trailing behind only [[Palm Beach, Florida]].<ref>{{cite journal|last=Stonington|first=Joel|author2=Venessa Wong|date=December 2011|title=America's Richest Zipcodes: Where the 1% Lives|url=http://images.businessweek.com/slideshows/20111206/america-s-richest-zip-codes-2011/slides/51|url-status=dead|journal=Bloomberg Businessweek|archive-url=https://web.archive.org/web/20120107175517/http://images.businessweek.com/slideshows/20111206/america-s-richest-zip-codes-2011/slides/51|archive-date=January 7, 2012|access-date=December 12, 2011}}</ref> The magazine previously dubbed the town "New York's wealthiest suburb."<ref name="images.businessweek.com" />

Based on a study done by ''Bloomberg'' in 2015, the average household income in the village was greater than $640,000.<ref>{{cite news|title=This Is America's Richest Zip Code|url=https://www.bloomberg.com/news/articles/2018-04-10/to-visit-america-s-richest-zip-code-first-you-ll-need-a-boat|access-date=July 11, 2019|newspaper=Bloomberg|date=April 10, 2018 }}</ref>

In 2011, ''Forbes'', having done a study of "America's Millionaire Capitals", found that the average net worth of Old Westbury households was $19.6 million and with an average annual income of $1.2 million.<ref>{{cite web|title=Millionaire Capitals: Old Westbury|url=https://www.forbes.com/sites/baldwin/2011/09/13/americas-millionaire-capitals/|access-date=December 12, 2011|work=America's Millionaire Capitals|publisher=Forbes Magazine}}</ref> The controlled study included only households with incomes greater than $200,000, which excluded only residents that are living in college dormitories and the staff of homeowners.

The village is famous for being the seat of many of New York's (and America's) wealthiest families, including the [[Phipps family|Phipps]]es, [[Vanderbilt family|Vanderbilt]]s, [[Whitney family|Whitney]]s, Webbs, [[Du Pont family|Du Pont]]s, Winthrops, Mortimers, Belmonts and Huttons. While many of these older families—the founding members of the social elite and those that emerged during the gilded age—still count members as Old Westbury residents, the village has also maintained a substantial set of industrialists, businessmen, collectors, athletes and entertainers.<ref>{{cite news|last=Fischler|first=Marcelle S.|date=August 4, 2011|title=Developers Building for 'Today's Gatsby' - In the Region/Long Island|work=The New York Times|url=https://www.nytimes.com/2011/08/07/realestate/developers-building-for-todays-gatsby-in-the-regionlong-island.html}}</ref>

The Old Westbury Fund is a hedge fund that is named after the town.

When ''[[Forbes]]'' asked billionaire investor Steven Schonfeld what the "wisest investment" he ever made was, his answer was "Old Westbury land".<ref>{{cite journal|last=Greenberg|first=Duncan|date=March 19, 2010|title=Billionaire Speaks Out: Steven Schonfeld|url=https://www.forbes.com/2010/03/18/billionaire-interview-wealth-trading-finance-schonfeld.html|journal=Forbes Magazine|access-date=July 21, 2013}}</ref>