Bouncing back: a rising stock market, increased real estate values and plain old savvy investing have boosted the net worth of the super-wealthy.SUMNER REDSTONE Sumner Murray Redstone (born Sumner Murray Rothstein on May 27 1923 in Boston, Massachusetts) is majority owner and Chairman of the Board of the National Amusements theater chain. Through National Amusements, he is majority owner of Midway Games, Viacom and CBS Corporation. Net Worth: $8.9 billion Last Year: Not on list Age: 80 Residence: Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. Source of Wealth: Media, entertainment Background: Chairman and chief executive of Viacom Inc. Orchestrated growth of company into the third-largest U.S. media company. Assets include CBS (Cell Broadcast Service) See cell broadcast. and MTV networks MTV Networks is a division of media conglomerate Viacom that oversees the operation of many TV network and Internet brands, including the first MTV channel. The company was established in 1984 after Warner Communications and American Express decided to divest the basic cable , Paramount Pictures, publisher Simon & Schuster Simon & Schuster U.S. publishing company. It was founded in 1924 by Richard L. Simon (1899–1960) and M. Lincoln Schuster (1897–1970), whose initial project, the original crossword-puzzle book, was a best-seller. and Infinity Broadcasting, in addition to radio and television stations and outdoor advertising business. Married former schoolteacher Paula Fortunato in April 2003 and took up residence in $14 million Beverly Hills home, which he bought from Sylvester Stallone. Formerly based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , he now spends most of his time here. Through movie theater operator National Amusements National Amusements, Inc. is a privately owned media and entertainment company based in Dedham, Massachusetts. The company was founded in 1936 as the Northeast Theatre Corporation by Michael Redstone. Inc., he controls 93.6 million, or 70.8 percent, of Viacom's Class-A shares, which traded recently at $39 each. Price is down 13 percent from the year-ago period and significantly off summer 2000 high of more than $70 per share. Citing under-valuation, company bought back $937 million of its stock last year; may buy even more in 2004. Strong first quarter results, with advertising revenues up 21 percent. Ongoing reports of tension with President Mel Karmazin Melvin Alan "Mel" Karmazin, a native New Yorker, (born August 24, 1943)[1] is an executive who has held several top jobs in the broadcasting industry and is currently CEO of Sirius Satellite Radio. , although the two insist they get along just fine. Daughter Shari, also a Viacom director, has taken a more active role. Redstone increased stake in videogame publisher Midway Games Midway Games (NYSE: MWY) (formerly Midway Manufacturing) is an American video game publisher. Midway's legacy includes landmark titles such as Ms. Pac-Man, Spy Hunter, Tron, Mortal Kombat, and NBA Jam. Inc. to more than 50 percent, seeking to place new members on the board, including daughter Shari. Earned Harvard undergraduate degree “First degree” redirects here. For the BBC television series, see First Degree. An undergraduate degree (sometimes called a first degree or simply a degree in two and half years. Served during World War II in the Military Intelligence Division, breaking Japanese code. After brief law career, joined father's National Amusements Inc. in 1954 and built it into 1,400-screen chain. National Amusements acquired controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Viacom in 1987. Active in the Dana-Farber Cancer Institute and the American Cancer Society American Cancer Society, n.pr established in 1913, this national volunteer-based health organization is committed to the elimination of cancer through prevention and treatment and to diminishing cancer suffering through advocacy, scholarship, research, . Supports John Kerry  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. . KIRK KERKORIAN Kerkor "Kirk" Kerkorian (Armenian: Քըրք Քըրքորյան) (born June 6, 1917) is an American billionaire, and president/CEO of Tracinda Corporation, his private holding Net Worth: $7.4 billion [up arrow] 117.6% Last Year: $3.4 billion Age: 86 Residence: Beverly Hills Source of Wealth: Investments Background: Stocks much kinder this year. Volatile MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. bounced back to reach January 2002 levels of $20 per share, up more than 75 percent since last May. Controls 74 percent; generous one-time dividend of $8 per share issued earlier this month meant roughly $1.4 billion tax-free for Kerkorian. Company withdrew $11.5 billion bid for Vivendi Universal's entertainment unit last July and may finally be purchased itself. In talks with Sony Corp. about possible $5 billion acquisition, MGM postponed shareholders meeting to consider "strategic alternatives." Controls 81.2 million MGM Mirage MGM Mirage (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. The company began operations on May 31, 2000 after the completion of a merger of MGM Grand Inc. and Mirage Resorts, Inc. shares, which are up nearly 60 percent in the last 12 months. Plans for a 928-room hotel tower at Las Vegas' Bellagio casino in the works. Lawsuit with DaimlerChrysler over purchase of Chrysler Corp. continues (though he no longer owns the stock). Testified in December, trial wrapped in February and decision expected by year's end. Seeks $1 billion, saying he was deceived about the 1998 merger. Fresno-born son of Armenian immigrants, started peddling newspapers in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. at age nine, became amateur boxer, flew in Royal Air Force during WWII WWII abbr. World War II WWII World War Two . Started amassing fortune in 1947 with purchase of charter airline in Los Angeles. Owns stakes in both MGM and MGM Mirage through private investment company Tracinda Corp. MARVIN DAVIS Marvin H. Davis (August 31, 1925 in Newark, New Jersey – September 25, 2004 in Beverly Hills, California) was American industrialist and philanthropist. He made his fortunes as the chairman of Davis Petroleum and at one time owned 20th Century Fox, Pebble Beach, the Beverly Net Worth: $6 billion [up arrow] 9.1% Last Year: $55 billion Age: 78 Residence: Beverly Hills Source of Wealth: Oil, real estate, entertainment Background: Good year thanks to big oil finds and high petroleum prices. Listed his legendary 11-acre Beverly Hills estate. "The Knoll," for $70 million. Grandson Jason Davis Jason Davis may refer to:
in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. to be aired later this year. Son of a wildcatter wild·cat·ter n. 1. One who is engaged in speculative mining or well drilling in areas not known to be productive. 2. A promoter of speculative or fraudulent business enterprises. 3. , struck it rich in oil, then Denver real estate. Tried movies with Twentieth Century Fox. Bought out onetime fugitive Marc Rich Marc Rich (born Marc David Reich on December 18, 1934) is an international commodities trader. He fled the United States in 1983 to live in Switzerland while being prosecuted on charges of tax evasion and illegally making oil deals with Iran during the hostage crisis. and later sold studio to Rupert Murdoch. Bought and flipped Beverly Hills Hotel The Beverly Hills Hotel is a hotel in Beverly Hills, CA, at 9641 Sunset Boulevard. It was opened on May 12, 1912 and started by Margaret J. Anderson and her son, Stanley S. Anderson, who had been managing the Hollywood Hotel. , Pebble Beach resort and Fox Plaza Fox Plaza is the name of a couple of buildings:
ELI BROAD Eli Broad (born June 6, 1933) a native of Detroit, Michigan is a Jewish American billionaire who lives in Los Angeles, California. His last name is pronounced as rhyming with road. Broad is well known for his philanthropy and extensive art collection. Net Worth: $5.3 billion [down arrow] 10.2% Last Year: $59 billion Age: 70 Residence: Brentwood Source of Wealth: Homebuilding, insurance Background: Most active now' as a booster of the Los Angeles business and cultural scene. Has led efforts to develop the Museum of Contemporary An, backed candidates for the board of the Los Angeles Unified School District The Los Angeles Unified School District (the "LAUSD") is the largest (in terms of number of students) public school system in California and the second-largest in the United States. Only the New York City Department of Education has a larger student population. , jump-started Walt Disney Concert Hall This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. and is turning his attention and financial backing to the redevelopment of Grand Avenue. Appears tired of pumping time and money into bringing a pro football team to Los Angeles and says the ball is now in the NFL's court. Gave away $409 million of his fortune last year, including a $100 million pledge toward the development of the Eli Eli (ē`lī), in the Bible, high priest and judge of Israel, teacher of the boy Samuel. 1. (language) ELI - An early system on the IBM 705 and IBM 650. [Listed in CACM 2(5):16 (May 1959)]. 2. and Edythe L. Broad Institute, a joint venture between Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. and the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, that will find medical applications from human genuine research. Renowned art collector. Formed homebuilder KB Home and insurance firm SunAmerica, which was later sold to American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. in 1998 for $18 billion. DAVID David, in the Bible David, d. c.970 B.C., king of ancient Israel (c.1010–970 B.C.), successor of Saul. The Book of First Samuel introduces him as the youngest of eight sons who is anointed king by Samuel to replace Saul, who had been deemed a failure. GEFFEN Net Worth: $3.5 billion [up arrow] 2.9% Last Year: $34 billion Age: 61 Residence: Malibu Source of Wealth: Entertainment Background: Co-founded DreamWorks SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global with Steven Spielberg Noun 1. Steven Spielberg - United States filmmaker (born in 1947) Spielberg and Jeffrey Katzenberg in 1994. Last year was a tough one for the studio, with domestic box office receipts halved, to $238 million. Studio struggling in first five months of 2004: banking on "Shrek 2" and "The Terminal" to revive box office. After securing distribution deal for films and videos. Vivendi Universal SA bought DreamWorks Records for an estimated $100 million. Started out in William Morris Agency Founded in 1898, the William Morris Agency is the largest diversified talent and literary agency in the world, with offices in New York City, Beverly Hills, Nashville, Miami, London, and Shanghai. mailroom, later becoming an agent. Founded Geffen Records in 1980 and sold it a decade later to MCA MCA in full Music Corporation of America Entertainment conglomerate. It was founded in Chicago in 1924 by Jules Stein as a talent agency. In the 1960s it bought Decca Records and Universal Pictures, and today it produces films, music, and television shows. , netting $710 million when MCA sold it to Matsushita. Avid art collector; paid estimated $40 million for Jasper Johns painting. Donated $200 million to UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX School of Medicine. A. JERROLD PERENCHIO Net Worth: $2.9 billion [up arrow] 11.5% Last Year: $26 billion Age: 73 Residence: Beverly Hills Source of Wealth: Entertainment Background: Chairman and chief executive of Univision Communications Inc., which saw its first-quarter 2004 profits more than double on news of record ratings for its Spanish-language radio and television broadcasts. Teamed up with Emilio Azcanaga, head of Mexican broadcaster Grupo Televisa to buy the struggling company from Hallmark in 1992. Bankrolled first Spanish-language soap opera, or telenovela A telenovela is a limited-run television serial melodrama of the type made famous in Latin America. The word is a portmanteau of tele, short for television, and novela ("novel/soap opera"). Telenovelas are essentially soap operas in miniseries format. , shot and produced entirely in Los Angeles. Project debuted in December. Notoriously media-shy: does not take a salary. Shares are up 7.8 percent in the last 12 months. Helped raise $3.5 million for the Republican National Committee at a fundraiser at his Beverly Hills home. Sued late last year by environmentalists who claimed his private Malibu golf course was responsible for pesticides and fertilizers discharged into Malibu Lagoon and Surfrider beach. The case is still pending in L.A. Superior Court. STEVEN FERENCZ UDVAR-HAZY Net Worth: $2.6 billion [up arrow] 44.4% Last Year: $1.8 billion Age: 58 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Sold, along with Leslie and Louis Gonda, International Finance Lease Corp. to insurance giant American International Group Inc. for stock. Shares of AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group are up more than 24 percent in the past year. Holds $150 million in shares of other public companies, more than $80 million in real estate, $63 million in what he termed "other investments" and an an collection valued at $14.5 million. Chairman and chief executive of the ILFC ILFC International Lease Finance Corporation ILFC International Lunar Finance Commission (TV show: Space: 1999) unit, founded in 1973. Company went public in 1983, became nation's leading lessor and financier of commercial jet aircraft. Also director of Skywest Inc., parent of Skywest Airlines. Certified jet pilot. Received flak for showing a restored version of the Enola Gay, the airplane that dropped the atomic bomb atomic bomb or A-bomb, weapon deriving its explosive force from the release of atomic energy through the fission (splitting) of heavy nuclei (see nuclear energy). The first atomic bomb was produced at the Los Alamos, N.Mex. on Hiroshima, in the National Air & Space Museum's Steven F. Udvar-Hazy Center The Steven F. Udvar-Hazy Center is the Smithsonian National Air and Space Museum (NASM)'s annex at Washington Dulles International Airport in the Chantilly area of Fairfax County, Virginia, United States. in Washington, D.C. Born in Budapest in 1946, migrated to U.S. in 1958. STEVEN SPIELBERG Net Worth: $2.4 billion [up arrow] 9.1% Last Year: $2.2 billion Age: 56 Residence: Pacific Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). Source of Wealth: Entertainment Background: Director of top-grossing films "Jaws," "E.T." and "Jurassic Park;" received best director Oscars for "Schindler's List" and "Saving Private Ryan." Started DreamWorks SKG with David Geffen and Jeffrey Katzenberg in 1994. Said to collect percentages of Universal theme park receipts in Florida and Japan for consultant work, pan of a deal set up in the 1980s to reward his creative success. Next film is "The Terminal" with Tom Hanks, coming out in June. Future projects include "Indiana Jones 4" (directing) and "Jurassic Park IV" (producing). Regularly ranked as one of the most powerful people in Hollywood, has received numerous honors including being knighted by British Empire. BRADLEY WAYNE HUGHES & FAMILY Net Worth: $2 billion [up arrow] 17.6% Last Year: $1.7 billion Age: 70 Residence: Malibu Source of Wealth: Storage facilities Background: Chairman of Glendale-based Public Storage Inc. got a boost as stock climbed 23 percent in the last 12 months. Hughes and his family control 46 million shares of the business, which started with a single property in 1972; it merged 18 affiliated REITs into Public Storage from 1994 to 1998. Today, the real estate investment trust has interests in nearly 1,400 storage facilities in 37 states. Hughes owns two adjacent beachfront beach·front n. A strip of land facing or running along a beach. adj. Situated along or having direct access to a beach: beachfront hotels; beachfront property. Noun 1. properties of two acres each. Had $60,000 salary as chief executive until his retirement in March. Owns several racehorses; sold 10 percent interest in Kentucky Derby fourth place finisher Atswhatimtalknbout to Steven Spielberg and other Hollywood executives. RON BURKLE Net Worth: $1.9 billion [up arrow] 11.8% Last Year: $1.7 billion Age: 51 Residence: Beverly Hills Source of Wealth: Supermarkets, investments Background: Busy year for his private equity firm Yucaipa Cos. Sold off his 51 percent stake in Golden State Foods, which stocks McDonald's Corp. with hamburger patties and buns and condiments, for $110 million. Dove into the world of hip-hop by buying piece of Sean "P. Diddy" Comb's clothing company (featuring the Sean Jean brand) for $100 million; will become partner in the company. Bought Louisiana home-style cooking chain Piccadilly Cafeterias out of bankruptcy for $80 million. Made big money in the food industry with Yucaipa's ownership of Fred Meyer, Food 4 Less and Ralphs supermarket chains, all sold to Kroger in 1999. Flexed political muscle by helping Democratic presidential candidate John Kerry raise $3 million at fundraisers hosted at his San Diego and Los Angeles homes. Longtime connections with former President Bill Clinton. DAVID MURDOCK Net Worth: $1.9 billion [up arrow] 18.8% Last Year: $1.6 billion Age: 81 Residence: Los Angeles Source of Wealth: Real estate, agriculture Background: Revenues are up at Dole Foods Co. since Murdock took it private in March 2003, but company carries more than $1.9 billion in debt, with bonds downgraded to "junk" level last year due to the buyout. Murdock has completed 11 such going-private deals, including real estate firm Castle & Cooke Inc. High school dropout (1) On magnetic media, a bit that has lost its strength due to a surface defect or recording malfunction. If the bit is in an audio or video file, it might be detected by the error correction circuitry and either corrected or not, but if not, it is often not noticed by the human who made fortune, lost it, made it again in California real estate market. Healthy eating advocate, broke ground in March on well-being complex that will include medical facilities and a five-star hotel next to Dole headquarters in Westlake Village. Breeder of more than 200 Arabian horses; has orchid collection with 30,000-plus plants. Republican party supporter. TOM GORES Net Worth: $1.8 billion [up arrow] 5.9% Last Year: $1.7 billion Age: 39 Residence: Beverly Hills Source of Wealth: Leveraged buyouts Background: Platinum Equity, the company he founded when he left older brother Alec's Gores Technology Group in 1995, is among the largest private companies in Los Angeles, as ranked by revenues. Further solidified by buying up Hays Logistics, a supply chain company and unit of Hays Plc, for $174 million in December. The move brings another 16,000 workers into the Platinum fold and overall annual revenues to $5.5 billion. Platinum targets mature technology-related businesses and legacy products that are past their prime and ripe for turnaround. In a deal brokered by another brother, Paradigm agency cofounder co·found tr.v. co·found·ed, co·found·ing, co·founds To establish or found in concert with another or others. co·found Sam Gores, a group backed by both Tom and Alec bought 2.5 million shares of Canadian film and television production company Lions Gate Entertainment
HAIM SABAN Net Worth: $1.7 billion [up arrow] 6.3% Last Year. $1.6 billion Age: 59 Residence: Beverly Hills Source of Wealth: Entertainment Background: Known for "Mighty Morphin' Power Rangers" and "Teenage Mutant Ninja Turtles." Personal take was almost $1.5 billion in 2001 Disney/Fox Family deal. After much delay, bought 36 percent stake and majority voting Majority voting Voting system under which corporate shareholders vote for each director separately. Related: Cumulative voting. majority voting rights in ProSiebenSat. 1 Media AG, Germany's largest private TV broadcaster, from KirchMedia GmbH with aid of private equity firms. With overhauled management and reduced costs, broadcaster posted profit in first quarter and shares have more than doubled since last August. Also eyeing music-TV broadcaster Viva Media AG and British media company ITV Plc. Born in Egypt, moved to Israel at age 12. Staunch Democratic fundraiser; also pledged $100 million to health and education entities last year, including $40 million to Childrens Hospital Los Angeles. FRANKLIN OTIS BOOTH JR. Net Worth: $1.7 billion [up arrow] 21.4% Last Year. $1.4 billion Age: 80 Residence: Bel-Air Source of Wealth: Investments Background: Still holds 17,000 shares of Berkshire Hathaway, valued at more than $88,100 each. Stock up 20 percent since last May. Great-grandson of Times Mirror founder Harrison Gray Otis
Harrison Gray Otis . Entered college at age 16, received engineering degree from Caltech and M.B.A. from Stanford. Stint as vice president of Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). ; left to start printing business that failed. Met Charles Munger and invested $1 million in Warren Buffett's Berkshire Hathaway in 1963. Real estate holdings include 2,500-acre orange grove and 4,000-acre cattle ranch. Has contributed to President Bush's re-election campaign. LOUIS GONDA Net Worth: $1.6 billion * 14.3% Last Year: $1.4 billion Age: 55 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Saw spike in wealth thanks to American International Group stock. Partners Steven Udvar-Hazy and father Leslie Gonda co-founded International Lease Finance Corp. in 1973 and sold out in 1990 for AIG stock. Started Lexington Commercial Holdings Inc. to cash in on real estate. Entered other markets through Lexington Entertainment Group and Lexington Funding LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Established partnership with Miramax in 2003 to launch start-of-the-art facility providing high-end digital graphics and image editing. Lexington is partner on two mixed-use projects in Beverly Hills involving luxury hotel and condominiums, office space and a public plaza. Born in Venezuela. Also owns stakes in technology' company Advanced Remote Communications Solutions and StorAmerica, a national chain of self-storage units. CHARLES T. MUNGER Net Worth: $1.5 billion * 15.4% Last Year: $1.3 billion Age: 80 Residence: Los Angeles Source of Wealth: Investments Background: Came to Los Angeles as lawyer in the 1950s and still has name on door of Munger Tolles & Olson. Met famed investor Warren Buffett Warren Buffett Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making in 1959. Vice chairman at Berkshire Hathaway; owns more than 16,000 shares, which were trading recently at just above $88,100 each. Chairman and chief executive at Wesco Financial (80 percent Berkshire-owned), as well as chairman at Daily Journal, which has seen its stock rebound on improved net income, Owns less than $4 million through Munger Marshall & Co. Sits on board of Costco. Known for demanding analysis of investments. Strongly opposes legalized gambling ("I think it is disgusting"). Donated 100 shares of Berkshire stock to private Harvard-Westlake School in December. Like Buffett, a lover of bridge; morning regular at the downtown California Club, where he often sits alone in the dining room reading the papers. LESLIE GONDA Net Worth: $1.4 billion * 16.7% Last Year: $1 2 billion Age: 84 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Co founded International Finance Lease Corp. with son Louis Gonda and friend Steven Udvar-Hazy with $150,000 and a $1.7 million bank loan in 1973. Left the American International Group unit this year. where he had held a director position. Born in Hungary. Holocaust survivor fled to Venezuela alter World War II and later came to U.S. Gives heavily to philanthropic causes through Leslie and Susan Gonda (Goldschmied) Foundation, formed in 1988. Donated small amount to Walt Disney Concert Hall. Also supports Ben-Gurion University, Bar-Ilan University in Israel, UCLA, Mayo Clinic and City of Hope, for research into diabetes, neuroscience, genetics and other medical research. PATRICK SOON-SHIONG Net Worth: $1.4 billion Last Year: Not on list Age: 51 Residence: Los Angeles Source of Wealth: Pharmaceuticals Background: Controversial founder of privately held biotech firm American BioScience owns 80 percent of the company, which in turn owns 68.4 percent in American Pharmaceutical Partners Inc., a publicly traded maker of injectable generic drags. Stock has been bouncing around on news of breast cancer drug Abraxane in the pipeline. Fast track application recently submitted to FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. : company looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. approval in time for fourth-quarter launch. Drug trial results published in December show Abraxane slowed rumor growth more than competitor drug Taxol but questions raised about study methodology. Company also facing shareholder lawsuits over loss in stock value due to allegedly misleading statements about Abraxane. Born in South Africa in 1952: graduated medical school fourth in class of 189. Joined UCLA medical school faculty in 1983, explored concept of encapsulated delivery of drugs tot diabetes and left to start VivoRx to pursue research. Started second company, which became American BioScience, for cancer research and eventually founded and took public APPX APPX Appendix APPX Application eXcellence (4GL software development tool) . Has been sued twice by brother Terrence. JOHN E. ANDERSON Net Worth: $1.3 billion * 8.3% Last Year: $1.2 billion Age: 86 Residence: Bel-Air Source of Wealth: Investments Background: Owner of Topa Equities, holding company for more than 40 companies: investments in real estate, beverage distributors, car dealerships, insurance and agriculture, with revenues in the $1 billion range. Real estate buying spree has continued, with a 122,000-square-foot shopping center in Woodland Hills and small retail space on Westwood Boulevard. In 1998, sold what is now Mellon 1st Business Bank and netted $180 million. Namesake of Anderson School of Business, result of a $15 million donation in 1987. Son of Minneapolis barber, came to UCLA for undergraduate work on hockey scholarship. Went to Harvard for MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration ; enlisted in Navy and passed CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. exam on shore leave. Got law degree at night while working for Arthur Andersen. Started Ace Beverage Co. in 1956, an early distributor of Budweiser. Plans to turn charitable foundation into major force, building it from current $5 million to around $100 million. FREDERICK "TED" FIELD Net Worth: $1.2 billion Last Year. $1.2 billion Age: 50 Residence: Beverly Hills Source of Wealth: Inheritance, entertainment Background: Resigned as chief executive of ArtistDirect Inc., where he was charged with transforming the lagging business into a traditional music company. Remains partner and head of ArtistDirect Records, which has lost $45 million as it vies against the major label competition. Company now exists largely in name only, as operations have been "significantly downsized" and there are no employees. Industry background dates to Field's founding of Interscope Records, which he sold to Universal for $330 million. His Radar Pictures produced the Tom Cruise film "Last Samurai." Projects in the pipeline for Radar include "Hip-Hop Cops" with director Peter Berg and an untitled film in the "Mask" series starring Jamie Kennedy. Much of his wealth comes from his status as an heir to Marshall Field & Co. fortune. Thrice thrice adv. 1. Three times. 2. In a threefold quantity or degree. 3. Archaic Extremely; greatly. divorced, he's been known over the years as a man about town. ALEC GORES Net Worth: $1.2 billion * 54.8% Last Year: $775 million Age: 51 Residence: Beverly Hills Source of Wealth: Leveraged buyouts Background: Filed this month to take a new closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. , Gores Investment Corp., public. Plans to raise as much as $250 million to invest in the debt of medium-sized technology and telecommunications companies. Mainstay business Gores Technology Group is going strong, taking over ownership of software, hardware, technology services and telecommunications companies with revenues between $10 million and $1 billion. Agreed to buy the troubled Web hosting and networking arm of British company Cable & Wireless for $125 million. Announced the closing of its first private equity fund worth $400 million. Founded the company in the late 1980s after selling off computer systems business he had started in his father's basement. Brother Tom worked with Alec until forming Platinum Equity in 1995. Highly competitive, the two joined in an unsuccessful bid for assets of Global Crossing Ltd. in 2002. Alec's biggest splash came in 2002 acquisition of educational software developer The Learning Co., which it acquired from Mattel Inc. for no cash and a share of future profits. Sold business a year later to Riverdeep Group Pie for $40 million in stock and $20 million in debt. GEORGE RANDOLPH HEARST George Randolph Hearst I (April 23, 1904 – January 26, 1972) was the oldest son of William Randolph Hearst. Though he never held a title higher than Vice-President at the Hearst Corporation, he was listed above many with higher-sounding titles when executives were JR. Net Worth: $1.2 billion * 9.1% Last Year. $1.1 billion Age: 74 Residence: Los Angeles Source of Wealth: Inheritance DAVID HEARST JR. Net Worth: $1.2 billion * 9.1% Last Year: $1.1 billion Age: 57 Residence: Los Angeles Source of Wealth: Inheritance Background: Cousins are heirs to the fortune built by their grandfather, media tycoon William Randolph Hearst, and great-grandfather, gold and sliver mine owner George Hearst. George became chairman of Hearst Corp. after death of Randolph Hearst, William Randolph's last surviving son. Proposal last year by Hearst Corp. to sell 1.8 square miles of coastal land between L.A. and San Francisco and put 128 square miles under conservation received mixed reception from environmentalists and is still pending. David's sister, Millicent Boudjakdji, president of the William Randolph Hearst Foundation and a member of the Richest List, died in 2002. In addition to the San Simeon estate, Hearst family has holdings in local and cable television stations and newspapers. ROLAND ARNALL Net Worth: $1.2 billion Last Year: Not on list Age: 65 Residence: Holmby Hills Source of Wealth: Financial services Background: Founded sub-prime lender Ameriquest Mortgage in 1980 as Long Beach Savings & Loan. Didn't become major sub-prime lender until it sold off depository operations in 1994 and wholesale mortgage operations in 1997. Reorganized retail business under current name. Said to be intensely private, Arnall might be considering a public offering for his company, though no details have been made public. Politics span both sides of aisle: Was a big donor to former Gov. Gray Davis Davis, city (1990 pop. 46,209), Yolo co., central Calif.; settled in the 1850s, inc. 1917. It is an education center with light industry; machinery, processed foods, and computer equipment are produced. The extensive Univ. , who officiated at his wedding in 2000; also a donor to President Bush's re-election bid. Bought 650-acre Aspen, Colo., ranch from movie executive Peter Guber for $46 million. Also purchased singer Engelbert Humperdinck's $30 million, 10-acre compound in Holmby Hills. JOHN SHEA & FAMILY Net Worth: $1.1 billion Last Year. $1.1 billion Age: 77 Residence: Pasadena Source of Wealth: Homebuilding Background: John Shea heads a company founded by his grandfather in the 1880s as a plumbing supply business. His father moved it from plumbing to a multi-division corporation that helped construct the Golden Gate Bridge Golden Gate Bridge, across the Golden Gate from San Francisco to Marin Co., W Calif.; built 1933–37. Its overall length is 9,266 ft (2,824 m); its main span across the strait, 4,200 ft (1,280 m), is one of the longest bridges in the world. Joseph B. and Hoover Dam. Today, Shea is the largest privately owned homebuilder. Company plans to redevelop the 33.5-acre University of Colorado Health Sciences Center The University of Colorado Health Sciences Center (UCHSC) is part of the University of Colorado System. It has recently been merged with the University of Colorado at Denver (UCD) to form the University of Colorado at Denver and Health Sciences Center. campus, which will include a mixed-use community with residential units, retail and office space. John and cousins Peter and Edmund, who worked together on tunnel projects growing up, now split ownership of the company. John has the master stake with 50 percent. ALFRED E. MANN Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. Net Worth: $1.1 billion Last Year: $1.1 billion Age: 78 Residence: Mulholland Estates Source of Wealth: Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. devices Background: Expected to cash in $56.7 million when he sells 65.9 percent stake in biopharmaceutical company MannKind Corp., which has filed for an $86.25 million initial public offering. Will remain chairman and chief executive, taking a $100,000-per-year salary, according to filings. Has been a prolific producer of biotech companies, founding Medical Research Group Inc. and MiniMed. In 2001, sold off both companies to Medtronic Inc., which produced $3.7 billion in cash and stock. Has announced intention to give $100 million to the Technion-Israel Institute of Technology to start a biomedical engineering Biomedical engineering An interdisciplinary field in which the principles, laws, and techniques of engineering, physics, chemistry, and other physical sciences are applied to facilitate progress in medicine, biology, and other life sciences. center. ROY E. DISNEY Roy Edward Disney, KCSG, (born January 10, 1930) was a longtime senior executive for The Walt Disney Company, which his father Roy Oliver Disney and his uncle Walt founded. Net Worth: $1 billion * 17.6% Last Year. $850 million Age: 74 Residence: Toluca Lake Source of Wealth: Inheritance, entertainment Background: An unlikely boat rocker, the nephew of Walt Disney made headlines when he resigned as a director, along with ally Stanley Gold. Claimed he was ousted for his outspoken opposition to then-Chairman and Chief Executive Michael Eisner. At the forefront of shareholder rebellion that stripped Eisner of chairman's title (he's still agitating ag·i·tate v. ag·i·tat·ed, ag·i·tat·ing, ag·i·tates v.tr. 1. To cause to move with violence or sudden force. 2. for full removal). Though complaining that Disney management has not maximized shareholder value, he became a billionaire thanks to a 28 percent increase in Disney's stock over the last year and the sale in 2003 of 800,000 shares. Inherited large portion of Disney shares currently valued at $382 million. Chairman of investment company Shamrock Holdings Inc., with estimated $2 billion under management. Has spent a lot of time in New Zealand New Zealand has two time zones. The main islands use New Zealand Standard Time (NZST), 12 hours in advance of Coordinated Universal Time (UTC), while the outlying Chatham Islands use Chatham Standard Time (CHAST), 12 hours 45 minutes in advance of UTC. lately racing an 86-foot yacht: owns a castle in Ireland. GEORGE JOSEPH Net Worth: $1 billion * 8.1% Last Year: $925 million Age: 82 Residence: Los Angeles Source of Wealth: Insurance Background: Founded Mercury Casualty Corp. in 1961; changed named to Mercury General Corp. alter going public in 1985. Owns 35 percent of stock, which is up 9 percent since last May. Mercury became third-largest auto insurer in California in 2003, moving up from sixth place. Expanded coverage in New Jersey last August and in Arizona last month. Higher premium prices improving the bottom line. Chief supporter of a "longtime customer discount" bill. taking heat from consumer advocate groups upset about it being signed into law by outgoing Gov. Gray Davis. Charges filed in February accusing Mercury of defrauding consumers through deceptive ads that misrepresented premiums by omitting broker fees. The company denies wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do . Started career as actuarial trainee at Occidental Life, Mew jealous of paychecks in sales department and subsequently became an entrepreneur. EDWARD ROSKI JR. Net Worth: $977 million * 3.7% Last Year. $942 million Age: 65 Residence: Toluca Lake Source of Wealth: Real estate Background: His Majestic Realty is developing massive 424-acre Beltway Business Park in southwest Las Vegas with Thomas & Mack Co. Together, firms are responsible for 6.3 million square feet of development in the Las Vegas Valley. Known for pulling long hours, sometimes working from 7 a.m. to 1 a.m. Part owner of the Los Angeles Kings The Los Angeles Kings are a professional ice hockey team based in Los Angeles, California, USA. They are members of the Pacific Division of the Western Conference of the National Hockey League (NHL). , he also has a small stake in the Los Angeles Lakers, the most valuable team in the NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= at $447 million. Built Staples Center with Denver-based billionaire Philip Anschutz. Has teamed up with Anschutz and Casey Wasserman to bring an NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga team to Los Angeles. Was a dominant figure in the build-out of City of Industry. Native Angeleno, played football at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission and was a Marine before jumping into Majestic, the family business, in the 1960s. Loves sports cars. DONALD STERLING Net Worth: $949 million * 0.6% Last Year: $943 million Age: 67 Residence: Beverly Hills Source of Wealth: Real estate Background: The real estate magnate and owner of perennially losing Clippers basketball franchise spent much of the year entangled en·tan·gle tr.v. en·tan·gled, en·tan·gling, en·tan·gles 1. To twist together or entwine into a confusing mass; snarl. 2. To complicate; confuse. 3. To involve in or as if in a tangle. in legal matters. The California Supreme Court will hear arguments in his dispute with Malibu property owner Larry Taylor over the validity of a deal for Sterling to buy Santa Monica apartment properties. Sterling was also sued by a former employee of his real estate business for sexual harassment sexual harassment, in law, verbal or physical behavior of a sexual nature, aimed at a particular person or group of people, especially in the workplace or in academic or other institutional settings, that is actionable, as in tort or under equal-opportunity statutes. and by a housing rights group for allegedly discriminating against blacks and Latinos. A U.S. District Court Judge issued a preliminary injunction A temporary order made by a court at the request of one party that prevents the other party from pursuing a particular course of conduct until the conclusion of a trial on the merits. A preliminary injunction is regarded as extraordinary relief. in August halting Sterling from using the word "Korean" in his apartment's names or in marketing. His company, Donald Sterling Corp., said it had already complied with the ruling. Company owns a batch of apartment buildings scattered throughout Los Angeles and Orange counties, as well as the Beverly Hills Plaza Hotel and Malibu Yacht Club. Clippers are still considered by many to be the worst team in all of sports but the franchise turns a consistent profit by maintaining a low payroll. MICHAEL MILKEN Michael Milken As an executive at Drexel Burnham Lambert Inc. during the 1980s, Milken used high-yield junk bonds for financing and corporate takeovers. While his personal wealth was enormous, he spent two years in prison after pleading guilty to charges of securities fraud. Net Worth: $850 million * 4.5% Last Year: $890 million Age: 57 Residence: Los Angeles Source of Wealth: Investments Background: Has taken a hit on LeapFrog Enterprises Inc. stock after first quarter sales decline at educational toymaker
Toymaker (real name Cosmo Krank) is a brand new, original villain in The Batman. He first appeared in Cash for Toys. He is voiced by Patton Oswalt. . Still, LeapFrog is up 75 percent from IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. price in July 2002. Holding company Knowledge Universe, which bought LeapFrog in 1997, dispersed most of its remaining shares to Milken. his brother Lowell. and business partner Oracle Corp. Chairman Lawrence Ellison in April. Graduated UC Berkeley for undergraduate and Wharton for MBA. Started at Drexel Burnham Lambert Drexel Burnham Lambert was a major Wall Street investment banking firm, which first rose to prominence and then was driven into bankruptcy in the 1980s by its involvement in illegal activities in the junk bond market, driven by Drexel employee Michael Milken. in 1969, became head of junk bond junk bond, a bond that involves greater than usual risk as an investment and pays a relatively high rate of interest, typically issued by a company lacking an established earnings history or having a questionable credit history. trading. Indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. 20 years later on securities fraud, pleaded guilty to six felony counts, served 22 months in prison and paid over $1 billion in fines. In 1996, co-founded Knowledge Universe with Lowell and Ellison. Has lost 10 family members to cancer. Diagnosed with prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. in 1993, now in full remission. Major supporter of education and cancer research through Milken Family Foundation Milken Family Foundation is a charity trust established by Lowell Milken and Michael Milken in 1982. External links
ROBERT ADDISON DAY JR. Net Worth: $812 million * 24.9% Last Year: $650 million Age: 60 Residence: Beverly Hills Source of Wealth: Financial management Background: Founder and large stakeholder in TCW TCW Total Carat Weight TCW Temporal Cold War (Star Trek Enterprise) TCW Troop Carrier Wing TCW Turnbuckle Championship Wrestling TCW Tasty Coma Wife (Scrubs episode) Group sold 51 percent interest in 2001 to French bank Groupe Societe Generale SA for $880 million in stock. Societe Generale stock has risen 25 percent in the last 12 months. Started Trust Co. of the West in 1971 with $1.5 million from investors. Chairman of W.M. Keck Foundation, oversees $1 billion in assets. Maternal grandfather, William M. Keck, founded Superior Oil Co. Foundation makes grants in medical research, science and engineering. Republican party supporter. JEFFREY KATZENBERG Net Worth: $800 million * 5.9% Last Year: $850 million Age: 53 Residence: Beverly Hills Source of Wealth: Entertainment Background: Grew up on Park Avenue and was a childhood friend of Walt Disney Co. Chief Executive Michael Eisner. Started entertainment career in 1975 as an assistant to Barry Diller at Paramount Pictures, moving quickly through the ranks to become president at age 31. Head of feature production at Disney from 1984 to 1994. Falling out with Eisner resulted in his departure and a court battle over unpaid compensation. Received $250 million judgment. Co-founded DreamWorks SKG with Geffen and Spielberg in 1994. Studio struggled at the box office last year; none of its movies hit the $100 million mark. Co-producing reality boxing show "The Contender" for NBC, set to air in January. Democratic supporter, gave directly to tour presidential hopefuls in latest cycle. WILLIAM BARRON HILTON Net Worth: $720 million * 40% Last Year: $514 million Age: 76 Residence: Holmby Hills Source of Wealth: Hotels Background: Some reshuffling at the top of Hilton Hotels Corp. has him sharing the chairman position with a non-Hilton family member, Chief Executive Stephen Bollenbach. He also relinquished the role of president to Chief Financial Officer Matthew Hart. Generally has taken a backseat in business operations. Owns more than 23 million shares of Hilton, which owns, manages or franchises more than 2,000 hotels, and almost 24 million shares of Caesar's Entertainment (formerly Park Place). Hilton stock has rebounded over the last year, trading just below its 52-week high of $17.95. Caesar's has done even better, rising 73 percent. DAVID GOLD & FAMILY Net Worth: $710 million * 25.3% Last Year: $950 million Age: 71 Residence: Mid-Wilshire Source of Wealth: Discount retail Background: Stock down more than 30 percent from last year due to disappointing profits, particularly in Texas operations. Also faces class-action lawsuit over wages. Son of Russian immigrant. Started out running liquor store in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or . While there, noticed items priced 99 cents sold better than those priced a few pennies more. Opened first 99 Cents Only outlet in Inglewood in 1982. Took company public in 1996 and now operates 195 stores in California, Texas, Arizona and Nevada. Very much a family affair. David Gold's sons Howard and Jeff are senior vice presidents and son-in-law Eric Schiffer is president. Family holds about third of the company through direct ownership and Au Zone Investments #3 LLC partnership. Plans to open 48 stores in existing markets in 2004 and launch new sales strategy in Texas. LOWELL J. MILKEN Net Worth: $670 million * 4.3% Last Year: $700 million Age: 55 Residence: Los Angeles Source of Wealth: Investments Background: Younger brother of Michael, also attended UC Berkeley. Received law degree from UCLA and joined L.A. firm Irell & Manella. Left in 1978 when Michael moved to L.A. Worked as brother's tax consultant and main adviser at Drexel Burnham Lambert. Also indicted for securities fraud; charges were dropped when Michael pleaded guilty. Head of Milken Family Foundation, which focuses on education and medical research. Founded Milken Archive of American Jewish Music. Involved in international real estate, chairing London-based Heron International, a property investment and development company. Decline in stock value of LeapFrog Enterprises Inc., part of the Knowledge Universe orbit of companies, nipped into Milkens' net worth. ALAN CASDEN Net Worth: $652 million * 6.9% Last Year. $700 million Age: 57 Residence: Beverly Hills Source of Wealth: Real estate Background: Real estate high-flyer had a tough 2003. A legal battle with Apartment Investment & Management Co., the real estate investment trust that bought his apartment portfolio for $1.5 billion in 2001, ended with an $83 million settlement--including $48 million out of Casden's pocket. Eleven of his subcontractors and one of his executives were indicted for allegedly handing out illegal campaign contributions to local politicians. Failed in bid to buy Dodgers from News Corp. He was awarded $1.6 million in a countersuit coun·ter·sue tr.v. coun·ter·sued, coun·ter·su·ing, coun·ter·sues Law To bring proceedings against (a plaintiff) in direct opposition to a suit brought against onself. filed against his brother, who sued to recover severance and unpaid dividends after leaving Alan's real estate company, but the award was overturned. One bright spot was the recent Planning Commission approval of his $100 million Westwood Village mixed-use project, despite earlier opposition from local merchants (the L.A. City Council has yet to consider the plan). Trained as an accountant, Casden got into real estate in 1975. Donated $100.000 to 2000 Democratic National Convention. ROBERT PETERSEN Net Worth: $642 million * 13.2% Last Year: $567 million Age: 77 Residence: Beverly Hills Source of Wealth: Publishing Background: Publishing magnate has once again put up for sale Jesse James' ranch hideout in San Luis Obispo San Luis Obispo (săn l  `ĭs ōbĭs`pō), city (1990 pop. 41,958), seat of San Luis Obispo co., S Calif., near San Luis Obispo Bay; inc. 1856. County. He tried to sell the 14,880-acre spread in 2001 for $27.5 million but deals fell through. Now puts a price tag of $19.5 million on the estate, which includes 260 acres of vineyards, a 1,200-square-foot house, bunkhouse bunk·house n. A building providing sleeping quarters on a ranch or in a camp. , barn, helicopter pad and five wells. Sold off part of his gun collection at a well-publicized auction in Anaheim. Controls 1.4 million shares in San Diego pharmaceutical firm Hollis Eden, value of which has declined 8.7 percent over last 12 months. Also has a 40 percent stake in privately held restaurant franchiser Kahala Corp. Cashed in interest in Petersen Publishin, in 1996. AUBREY CHERNICK Net Worth: $641 million * 50.1% Last Year. $427 million Age: 55 Residence: Los Angeles Source of Wealth: Software Background: Agreed this year to sell Candle Corp. to International Business Machines Corp. for undisclosed amount. Software and services company had been seeing years of declining revenues because of lagging mainframe market. Company reported 2003 revenues of $271 million, down nearly 15 percent from the year earlier level. Typical IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) deals have valued similar companies at a 5 percent premium to sales. Started Candle in 1976 after being inspired by a message inside a fortune cookie. Started Candle Foundation in 1982, which has a global focus on issues such as medical research, hunger and homelessness. PHILIP EVANS KAMINS Net Worth: $620 million * 3.3% Last Year. $600 million Age: 67 Residence: Beverly Hills Source of Wealth: Chemicals, plastics Background: Owner and chief executive of--Sun Valley-based PMC (1) See Portable Media Center. (2) (PCI Mezzanine Card) A PCI-based mezzanine card that is widely adapted to VMEbus, CompactPCI and PCI cards. Global Inc., a diversified international company. Through numerous subsidiaries, both here and abroad, produces semiconductors, memory chips, film, plastics, chemicals, foam. pipes and bubble bath. Cosrich Group division manufactures and markets children's bath products and play cosmetics while ASC ASC Ambulatory surgery center, see there Group Inc. specializes in electronics for aerospace and military markets. Revenues estimated at $600 million in 2003, holding steady over the past few years but down from 1990 when sales exceeded $1 billion. GUILFORD GLAZER Net Worth: $605 million * 6.9% Last Year: $566 million Age: 82 Residence: Beverly Hills Source of Wealth: Real estate Background: Finally closed on the $442 million sale of the Del Amo Fashion Center Del Amo Fashion Center is a two-level regional shopping mall in Torrance, California, USA. It is currently managed and co-owned by Simon Property Group. With a current gross leasable area (GLA) of 2.5 million ft², it is one of the largest shopping malls in the United States. to Mills Corp. Supporter of Jewish charities: donated $1 million to strengthen Israel's international information and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most efforts in 2004. A welder's son, he built his first apartment building in 1950 for his mother, then expanded to Atlanta, Boston, Pittsburgh and West Virginia. Built Del Amo, nation's second largest shopping mall: added hotels to the mix. Though there has been talk of his retirement, he still attends meetings at the offices of Torrance Co.. his primary investment vehicle. Has claimed to carry little debt. TOM WERNER Net Worth: $600 million * 14.3% Last Year: $700 million Age: 55 Residence: Pacific Palisades Source of Wealth: Entertainment Background: Has confirmed that his independent television production company, Carsey-Werner-Mandabach, is for sale. Company, which created "The Cosby Show," "Roseanne" and "That '70s Show That '70s Show is an American television sitcom that centers on the lives of a group of teenagers living in Point Place, Wisconsin, a fictional suburb of either Kenosha or Green Bay<ref name="That'70sShowFAQs"/> from May 17, 1976 to December 31, 1979. ," has hired investment banks in the past to valuate the company, but this time could be the real deal, as Werner and co-founder Marcy Carsey are looking for other projects. Much of the value of the company, which has been placed at $1.2 billion, comes from the library, which includes 222 episodes of "Roseanne" and 201 episodes of "Cosby." Helped start Oxygen cable network with Oprah Winfrey and Carsey. Also maintains a stake in the Boston Red Sex. The team has a debt ratio of 45 percent and is valued at $533 million. Was appointed by Gov. Arnold Schwarzenegger to the California Film Commission Has maintained a long-running relationship with NBC's Katie Couric. JOHN TU Net Worth: $600 million Last Year: Not on list Age: 63 Residence: Rolling Hills Source of Wealth: Computer memory Background: Founded Orange County computer memory products firm Kingston Technology Co. in 1987 with friend David Sun. Lives in Rolling Hills and commutes to the company's Fountain Valley headquarters every day. The partners made a fortune by selling 80 percent of Kingston to Japan's Softbank Corp. for $1.5 billion in 1996, after which Tu gained attention when he handed out $100 million in bonuses to its workers. Partners bought Kingston back for $450 million three years later. Tu, originally from China, moved to the U.S. in 1972. Married with two children. Tu is an avid Elvis fan who plays drums in his own band and dreams of playing with the Rolling Stones. In early days, made a point of foregoing contracts and instead struck deals on handshakes. Has an electrical engineering degree from Technische Hochschule Darmstadt in Germany. MARCY CARSEY Net Worth: $597 million * 0.5% Last Year: $600 million Age: 59 Residence: Brentwood Source of Wealth: Entertainment Background: After more than 20 years with partner Tom Werner at television production company Carsey-Werner-Mandabach, the pair is shopping around lot buyers of the business that produced "The Cosby Show," "Roseanne," and "That '70s Show." Donated $1 million to groups focused on defeating President Bush. Also gave $2.5 million leadership gift to the University of California, Santa Barbara History The predecessor to UCSB, Santa Barbara State College, focused on teacher training, industrial arts, home economics, and foreign languages. Intense lobbying by an interest group in the City of Santa Barbara led by Thomas Storke and Pearl Chase persuaded the State , for the new Center for Film, Television and New Media. Worked her way up through the networks, moving from NBC tour guide to ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. senior vice president. Along with Oprah Winfrey and partner Werner, helped back launch of Oxygen cable network. NEIL NEIL Nuclear Electric Insurance Limited NEIL Network Engineering and Integration Lab KADISHA Net Worth: $595 million * 38.4% Last Year: $430 million Age: 48 Residence: Beverly Hills Source of Wealth: Telecommunications, investments Background: Merged satellite-communications company Omninet with Qualcomm in 1988. Retired from Qualcomm board in 2002; still owns more than six million shares. Stock has rebounded in the past year, more than doubling but still significantly off from January 2000 peak. Chief executive of investment firm Omninet Capital LLC in Beverly Hills, involved in real estate, private equity and venture capital, focusing on wireless communications. Active in Jewish community, on board of Jewish Federation of Greater Los Angeles. STEWART RESNICK Net Worth: $590 million * 19.2% Last Year: $730 million Age: 66 Residence: Beverly Hills Source of Wealth: Mail-0rder merchandise Background: Through Roll International Corp. holding company owns Franklin Mint, Teleflora (floral delivery service), Paramount Farms (pistachios and almonds) and Paramount Citrus. Franklin Mint, Roll's largest segment, has suffered along with rest of collectibles industry. After three waves of layoffs since 1999, the company has reduced its 1,500 workforce to fewer than 50, as it refocuses on Internet and wholesale business. Has also shuttered Franklin Mint Museum in Philadelphia and its 30 retail stores. Started out as lawyer, founded Roll with wife Lynda. Avid art collector of French and Italian works from the 17th and 18th centuries. Has donated to field of Democratic presidential hopefuls, including John Kerry. GARY WINNICK Net Worth: $570 million * 5% Last Year: $600 million Age: 55 Residence: Bel-Air Source of Wealth: Telecommunications, investments Background: Paid $55 million in March to help settle roughly 70 lawsuits brought by former Global Crossing employees and investors. Other lawsuits pending include a $1.7 billion case brought by J.P. Morgan Chase, accusing Winnick and 22 former officers and directors of hiding Global Crossing's poor financial health to get loans. Long Island, N.Y., native worked with Michael Milken at Drexel Burnham Lambert in the 1980s. Founded Global Crossing in 1997, building undersea fiber-optic network valued at $60 billion during peak in 1999 (when he was ranked richest Angeleno). Sold more than $500 million worth of stock before company filed Chapter 11 in January 2002. Resigned as chairman in December 2002. Federal government did not pursue criminal charges against Winnick and other company executives. Founded and invests through Pacific Capital Group Inc. Donated $10 million to Simon Wiesenthal Center  This article is currently semi-protected to prevent sock puppets of currently blocked or banned users from editing it. to support museum of tolerance The Museum of Tolerance is a multimedia museum in Los Angeles, California, with an associated museum in New York City, designed to examine racism and prejudice in the United States and the world with a strong focus on the history of the Holocaust. in Israel and established the Winnick Family Clinical Research Center at Cedars Sinai. MICHAEL EISNER Net Worth: $570 million * 9.6% Last Year: $520 million Age: 62 Residence: Hollywood Hills Source of Wealth: Entertainment Background: Walt Disney Co. chief executive survived tough year, losing post as chairman and contending with a shareholder revolt led by former board members Roy Disney and Stanley Gold. Lost valuable partnership with Pixar Animation Studios. Disney still hasn't found a buyer for the Mighty Ducks hockey team, which had a losing season. Saw net worth jump this year as Disney profits improved. The former head of Paramount Pictures, Eisner went to Disney as chairman and chief executive, overseeing a glorious turnaround before stumbling with the $20 billion purchase of Capital Cities/ABC in 1996. Cal State Northridge recently renamed its College of Education for Eisner after a $7 million donation by foundation. GLORIA JOSEPH Net Worth: $500 million * 8.7% Last Year: $460 million Age: 80 Residence: Los Angeles Source of Wealth: Insurance Background: Served as vice president of Mercury General Corp. with husband George Joseph from 1961 until 1985 divorce, same year Mercury went public. Received half of couple's joint shares under California community property laws. Served on the Mercury board until last July, when she stepped down. Owns 17 percent of the company's outstanding stock. MERV GRIFFIN Net Worth: $500 million * 8.7% Last Year: $460 million Age: 78 Residence: Beverly Hills Source of Wealth: Entertainment Background: Sold Beverly Hilton Hotel last year for $130 million. Owns a slew of other hotel properties, including two resorts in Arizona and a castle in Great Britain. Working on a reality television show based on a "school of comedy" in Toronto. New version of kitschy "Dance Fever" said to be on hold. Radio singer in the 1940s, he became known to couch potatoes as host of "The Merv Griffin Show" in the 1960s. Parlayed that fame into a media empire with TV staples "Wheel of Fortune" and "Jeopardy"; sold business to Columbia Pictures for $250 million in 1986. Sold Paradise Island casino and gambling boats for an undisclosed amount in 1984. Donated his Arizona dude ranch to children's charity in 2000. |
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