L.A.'s Top 50: earning it, inheriting it, buying into it. (Rich in L.A. -- The Wealthiest Angelenos).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: $8 billion [up] 6.7% Last year: $7.5 billion Age: 84 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: Investments Background: Fiercely private octogenarian oc·to·ge·nar·i·an adj. Being between 80 and 90 years of age. n. A person between 80 and 90 years of age. failed in a not-so-quiet attempt to sell 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. early this year; potential suitors balked balk v. balked, balk·ing, balks v.intr. 1. To stop short and refuse to go on: The horse balked at the jump. 2. at reported $7.2 billion sale price. Still entrenched en·trench also in·trench v. en·trenched, en·trench·ing, en·trench·es v.tr. 1. To provide with a trench, especially for the purpose of fortifying or defending. 2. in $8 billion lawsuit against Daimler Chrysler; is selling shares of the German-owned automaker. Suing former wife, Lisa Bonder Kerkorian, for going public over a financial arrangement following the couple's one-month-long marriage. Bonder has gone to court to get $320,000 a month to support daughter, Kira, but Kerkorian wants the amount lowered to $50,000. Claims he is not the father of the child. 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 ("Rifle Right Kerkorian"), flew "suicide missions" in WWII WWII abbr. World War II WWII World War Two delivering Mosquito bombers from Montreal to Scotland through tough North Atlantic weather. Started amassing fortune in 1947 with purchase of charter airline in Los Angeles. Owns majority share of MGM; also has large stake in 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. . 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: $6.4 billion [up] A 1.6% Last year: $6.3 billion Age: 76 Residence: Beverly Hills Source of Wealth: Oil, real estate, entertainment Background: Despite high profile entertainment and real estate deals, much of his personal net worth is from natural gas and oil business. Last year, bought Chicago skyscraper for $239 million after selling Fox Plaza Fox Plaza is the name of a couple of buildings:
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. New York Post The New York Post is the 13th-oldest newspaper published in the United States and the oldest to have been published continually as a daily.[3] Since 1976, it has been owned by Australian-born billionaire Rupert Murdoch's News Corporation and is one of the 10 , recently pulled out of deal to buy a 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 office tower for $335 million. Moved to L.A. in L.A. In is a compilation of studio recording by Various Artists. It was originally released in 1979 as an LP by Rhino Records. Track listing Side One The Kats 1980s from Denver with purchase of 20th Century Fox, sold property to Rupert Murdoch. Kept Pebble Beach golf course, subsequently sold it to Japanese investors at market peak for $841 million. In 1980s bought and sold 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. and Aspen Ski Corp. Was unsuccessful in $6.2 billion bid for United Airlines in 1990. 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: $6.3 billion [down] 3.1% Last year: $6.5 billion Age: 67 Residence: Brentwood Source of Wealth: Homebuilding, insurance Background: Made first fortune with Kaufman & Broad (now KB Home) homebuilder, second with insurance giant SunAmerica. Much of his personal net worth is in American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. stock; insurance giant purchased SunAmerica for $18 billion in 1998. But 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 stock is down 20 percent from last year. Terms his third career "venture philanthropy Venture philanthropy takes concepts and techniques from Venture Capital finance and high technology business management and applies them to achieving philanthropic goals. Venture philanthropy is characterized by:
Warhol exhibit to Museum of Contemporary Art. Art collection worth $500 million. Active in local political scene (sometimes to the annoyance of politicos), most recently in fight against San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. secession. 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: $3.6 billion [up] 9.1% Last year: $3.3 billion Age: 59 Residence: Beverly Hills Source of Wealth: Entertainment Background: Gave $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 medical school, to be renamed David Geffen School of Medicine. Co-founder of 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 , originally touted to be a major studio but turning out to be focused mostly on film production; 2001 revenues estimated at $1.8 billion. Geffen-run DreamWorks Records DreamWorks Records was an American record label active from 1996 to 2005. In 1996, six years after David Geffen sold Geffen Records to Mushroom Records, he joined Steven Spielberg and Jeffrey Katzenberg to form DreamWorks SKG, which included the subsidiary DreamWorks Records. starting to get traction; artists Nelly Furtado  This page is currently protected from editing until disputes have been resolved. and Alien Ant Farm Alien Ant Farm are an alternative rock group that formed in the southern California city of Riverside in 1996. Their name comes from an idea former member Terry Corso had about aliens and the earth--"I was daydreaming at my dull desk job with my feet up, and I thought to myself, scored hits. Television unit still troubled. Brooklyn College Brooklyn College: see New York, City University of. 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 began his career in William Morris Noun 1. William Morris - English poet and craftsman (1834-1896)Morris mailroom; started Geffen Records Geffen Records is an American record label, owned by Universal Music Group, and operates as one third of UMG's Interscope-Geffen-A&M label group. Company history Beginnings in 1980s. Sold 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. for $550 million. Produced movies "Risky Business" and "Beetlejuice." Has branched out of entertainment, amassing $430 million stake in wholesale drug company McKesson Corp. Mellowing a bit from younger days, though those who know him say he doesn't handle stress well, reportedly getting physically sick in some instances. A. JERROLD PERENCHIO Net Worth: $2.4 billion * 14.3% Last year: $2.8 billion Age: 71 Residence: Beverly Hills Source of Wealth: Entertainment, media Background: As a talent agent in the 1960s represented Liz Taylor and Marlon Brando. Formed Embassy Communications with producer Norman Lear, sold to Coca-Cola in 1986 for $485 million. With partners, bought Univision for $550 million in 1992; now chairman and controlling shareholder. Invests in media through Chartwell Partners holding company. Extensive real estate holdings in Malibu. Son of a vintner from Fresno; was a boxer in his youth. Media-shy Republican is known to play both sides of political fence. Big donor to Gov. Gray Davis' re-election campaign. STEVEN SPIELBERG Net Worth: $2.3 billion * 4.5% Last year: $2.2 billion Age: 55 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, media Background: Has directed "Jaws," "E.T.," and "Jurassic Park"; received best director nod for "Schindler's List." With David Geffen and Jeffrey Katzenberg, started DreamWorks in 1994. Microsoft mogul Paul Allen kicked in $500 million for 25 percent stake in 1995. After rough start, studio has scored hits ranging from "Shrek" to "Saving Private Ryan." Despite billionaire status, felt inclined to return to California State Long Beach to finish degree. On May 31, plans to attend graduation, in cap and gown. STEVEN FERENCZ UDVAR-HAZY Net Worth: $2.3 billion * 14.8% Last year: $2.7 billion Age: 55 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: At 13, left native Hungary, studied airline industry at UCLA. With Leslie and Louis Gonda, founded International Lease Finance Corp. in 1973. Sold to American International Group in 1990; net worth largely a function of AIG's stock price, which is down 20 percent from last year. Remains ILFC's chief executive. Grabbed headlines last fall after ordering repossession The taking back of an item that has been sold on credit and delivered to the purchaser because the payments have not been made on it. For example, if an individual fails to render prompt payments on a new car, the car might be subject to repossession by the finance company, of 19 jetliners from Swissair. Always risky aircraft leasing business even tougher after Sept. 11. With wife has given to Harvard-Westlake school, also $65 million to Smithsonian's National Air and Space Museum The National Air and Space Museum (NASM) of the Smithsonian Institution is a museum in Washington, D.C., United States, and is the most popular of the Smithsonian museums. It maintains the largest collection of aircraft and spacecraft in the world. . RON BURKLE Net Worth: $2.1 billion * 4.5% Last year: $2.2 billion Age: 49 Residence: Beverly Hills Source of Wealth: Supermarket, investments Background: Retained former President Bill Clinton this year, boosting profile of Yucaipa Cos. investment vehicle. Clinton will consult with Yucaipa Corporate Initiatives Fund. A year ago, fund received $200 million from California Public Employees Retirement System to invest in low-income communities. Built fortune in supermarkets, has since backed off business. Kmart bankruptcy filing soured investment, about 1.1 million shares, but he dodged a big hit through collar arrangement allowing sale of some holdings for close to purchase price. Sold stake in Fleming Cos., $40 million profit. Recently tied to investment group led by Philip Anschutz looking to develop a football stadium just south of downtown (Burkle failed in a similar effort few years back). Claremont native, son of Stater stat·er 1 n. A resident of a particular state or type of state. Often used in combination: Lone Star staters; farm staters; the struggle between slave staters and free staters. Noun 1. Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . grocery chain executive. Registered Republican but plays both sides of the fence. Contributed to Gov. Gray Davis' re-election campaign. DAVID MURDOCK Net Worth: $2.1 billion * 75% Last year: $1.2 billion Age: 78 Residence: Del-Air Source of Wealth: Real estate, agriculture Background: Dole Food Co. Inc. chief executive owns 24 percent of company's stock; price more than doubled in last year. Took private Castle & Cooke, which owns 98 percent of Hawaii's island of Lanai Lanai (lənī`), island, 141 sq mi (365 sq km), central Hawaii, W of Maui island across the Auau Channel; Mt. Lanaihale (3,370 ft/1,027 m) is the island's highest point. For many years the island was used for sugarcane raising and cattle grazing. and two island resorts. Well diversified, owns hotels in Baltimore and Nebraska, various commercial and undeveloped real estate holdings. Owns FlexiVan Leasing, largest chassis maker in the U.S. Also invested in manufacturing, aviation and building supplies. Supports Bill Simon for governor, kicked in $100,000 to gubernatorial campaign. LOUIS GONDA Net Worth: $2.1 billion * 4.5% Last year: $2.2 billion Age: 53 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Made fortune in aircraft leasing business, but is no longer active in International Lease Finance Corp. Well-diversified in other investments, focuses on real estate development through Lexington Commercial Holdings and formed Lexington Entertainment Group. Wife, Kelly, runs East of Doheny Productions unit with producer Jeffrey Kramer. Has invested in technology companies with Lexington Ventures. Venezuelan native attended USC. Big holder of American International Group stock, shares down from last year. TOM GORES Net Worth: $2 billion Last year: Not on the list Age: 37 Residence: Beverly Hills Source of Wealth: Leverage buyouts Background: Immigrated to Michigan from Israel in 1968. Invested with brother Alec until going Out on his own in 1995 to form Platinum Equity, which acquires and operates technology companies. Portfolio has 24 companies with 15,000 employees, estimated revenues $2.4 billion. Thumbs nose at big business schools, mostly hires people he knows. Close-knit inner circle is spread out nationwide: chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. resides in Boston, head of marketing in New Jersey, Platinum's corporate data center in Atlanta. Competes with older brother Alec at Gores Technology group. Tom, Alec and third brother, Sam (head of Paradigm talent agency) live in same Beverly Hills community. BRADLEY WAYNE & HUGHES & FAMILY Net Worth: $1.6 billion * 33% Last year: $1.2 billion Age: 68 Residence: Malibu Source of Wealth: Storage facilities Background: With family, owns more than 39 million shares of Public Storage. Company also has significant ownership of PS Business Parks Inc., a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , owner/operator of commercial space. Endowed Parker Hughes Cancer Center in Minnesota with $200 million. Has funded cancer treatment causes since son died of disease. Began career as real estate executive; started Public Storage in 1972, took public in 1995. Company originally named "Private Storage" (confusing customers who thought facilities were closed to the public). With name change came the customers. Horse racer owns stable of 80 horses. HAIM SABAN Net Worth: $1.6 billion * 6.7% Last year: $1.5 billion Age: 50 Residence: Los Angeles Source of Wealth: Entertainment Background: Disney bought Fox Family Worldwide for $5.3 billion (including debt). Saban had a stake of $1.4 billion in the company. First success came with Mighty Morphin Power Rangers Mighty Morphin Power Rangers ("MMPR") is an American live-action television series, created for the American market, based on the sixteenth installment of the Japanese Super Sentai franchise, Kyōryū Sentai Zyuranger. , which he purchased in Japan and shopped around Los Angeles. Eight years later found a buyer in Fox. Born in Egypt, moved to Israel at age 12. Big Democratic party contributor, in March gave $7 million for new headquarters. Can't seem to figure out what to do with his money; told the Washington Post he wants to buy a newspaper. Said to be 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. new opportunities in family programming. LESLIE GONDA Net Worth: $1.5 billion * 16.7% Last year: $1.8 billion Age: 82 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Holocaust survivor fled native Hungary for Venezuela after WWII. After two decades, left with wife and son, Louis, for United States. Invested in real estate. With son and Steven Ferencz UdvarHazy, started aircraft leasing business. Enjoys semi-retirement with family, gives to various charities, including hospitals and holocaust museums. FRANKLIN OTIS BOOTH JR. Net Worth: $1.5 billion * 15.4% Last year: $1.3 billion Age: 78 Residence: Del-Air Source of Wealth: Investments Background: Great-grandson of Times Mirror founder Harrison Gray Otis
Harrison Gray Otis . Entered college at 16, engineering degree from Caltech, Stanford M.B.A. Began in news business, did stint as vice president at 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, invested $1 million in Warren Buffett's Berkshire Hathaway in 1963. Still holds 18,000 plus shares valued at more than $78,000 each. Plans to leave fortune to six children. Recovering from recent hip surgery. ALEC GORES Net Worth: $1.5 billion Last year: Not on the list Age: 49 Residence: Beverly Hills Source of Wealth: Leverage buyouts Background: Both Alec and brother Tom are bidding for scandal-ridden Global Crossing. Since its founding in 1992, Gores Technology Group has acquired 35 companies for more than $2 billion. Was mostly under the radar This article is about the magazine. For other uses, see Under the Radar (disambiguation). Under the Radar is an American magazine that bills itself as "The solution to music pollution." It features interviews with accompanying photo-shoots. until acquiring Learning Co. from Mattel for no money down and promise of undisclosed amount of future revenues. When acquired, Learning Co. was losing roughly $1.5 million per day; returned to profitability within six months. Said to have once raised $100 million in four hours. Received computer science degree from Western Michigan University Western Michigan University, at Kalamazoo, Mich.; coeducational; founded in 1903 as Western State Normal School, became accredited in 1927 as a college, gained university status in 1957. . Worked as systems programmer at General Motors before launching computer distributorship from father's basement. CHARLES T. MUNGER Net Worth: $1.4 billion * 7.7% Last year: $1.3 billion Age: 78 Residence: Los Angeles Source of Wealth: Investments Background: Harvard educated lawyer has his name on door of Los Angeles firm Munger Tolles & Olson. Luck and fortune came with 1959 introduction to 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 . Today owns more than 17,000 shares of Berkshire Hathaway. Vice-chairman of Berkshire and chairman of Wesco Financial Corp. subsidiary (80 percent Berkshire owned). Also runs Los Angeles-based legal publication house Daily Journal Corp., which has seen revenues shrinking and losses widening (most recently trying to develop a software system for the courts). Little effect on net worth: Munger's stake valued at less than $20 million. Avid fisherman--takes frequent trips with Berkshire buddy Franklin Otis Booth Jr. DONALD STERLING Net Worth: $1.4 billion [up] 7.7% Last year: $1.3 billion Age: 65 Residence: Beverly Hills, Malibu Source of Wealth: Real estate Background: Extensive real estate holdings including Malibu Beach Club, Beverly Comstock Hotel and scads of apartment buildings in Beverly Hills, Santa Monica and throughout Southern California. Said company has doubled in size since last year; is especially bullish on Koreatown. Owns Los Angeles Clippers, purchased for $13 million in 1981 and now valued at $170 million. Said team turns a profit even as most franchises do not. Settled dispute with City of Santa Monica over allegations he and representatives harassed tenants in rent-controlled apartments. FREDERICK "TED" FIELD Net Worth: $1.2 billion [up] 9.1% Last year: $1.1 billion Age: 49 Residence: Beverly Hills Source of Wealth: Inheritance, entertainment Background: Heir to portion of the Marshall Field & Co. retail fortune; has made a killing in the record business. Built Interscope records with acts like Snoop Dogg and Marilyn Manson, sold it to Universal for $330 million. Two months after leaving post as co-chairman of Interscope, took top job at ailing Internet destination ArtistDirect. Slashed company's Internet operations, dissolved talent business, formed record label, hired record business buddies and signed new acts. Despite billions, has aggressive employment contract. ArtistDirect fronts money for the label and incurs losses. Field gets half ownership in exchange for service as chief executive, which pays $500,000 annually, plus stock options. Thrice thrice adv. 1. Three times. 2. In a threefold quantity or degree. 3. Archaic Extremely; greatly. divorced, six children, now enjoying single life. MERV GRIFFIN Net Worth: $1.2 billion--0% Last year: $1.2 billion Age: 75 Residence: Beverly Hills Source of Wealth: Television, real estate Background: Parlayed early success into vast empire. Radio singer in the 1940's, hosted TV talk show. Real fortune came creating games shows like "Wheel of Fortune." Sold TV production company to Columbia Pictures for $250 million in 1986. Sold gambling boats, casinos and Atlantic City hotels for undisclosed amount in 1994. Owns Arizona dude ranch and Beverly Hills Hotel. While business dealings have made him a billionaire, continues to sing and release recordings. 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 [down] 8.3% Last year: $1.2 billion Age: 76 Residence: Mulholland Estates Source of Wealth: Biotechnology Background: Sold MiniMed and Medical Research Group last year to Medtronic Inc. for $3.7 billion in cash and stock. Owned more than 25 percent of MiniMed stock and more than half of Medical Research Group. Large share of proceeds will go to philanthropic causes. Will give at least $270 million to USC, UCLA (though he continues to squabble squab·ble intr.v. squab·bled, squab·bling, squab·bles To engage in a disagreeable argument, usually over a trivial matter; wrangle. See Synonyms at argue. n. A noisy quarrel, usually about a trivial matter. with the school over details) and Johns Hopkins. Portland native started selling lemonade and magazine subscriptions during World War II. Received M.S. in physics from UCLA; in 1956 started optical technology company, later sold. In 1969 moved to biotech with founding of a pacemaker company, called Pacesetter. Sold in 1985 for $75 million. Started MiniMed the same year with technology developed at Pacesetter. Has ongoing interest in multiple biotech startups. JOHN E. ANDERSON Net Worth: $1.1 billion [up] 27.2% Last year: $865 million Age: 84 Residence: Bel-Air Source of Wealth: Investments Background: Started as a lawyer but through Topa Equities holding company has invested in insurance, beverage distribution, real estate, agriculture and auto dealerships. Topa generated $865 million in 2001. In 1998 sold what is now Mellon 1st Business Bank for $180 million. With wife, Marion, supports education and health care causes. Namesake for UCLA's Anderson School of business, the result of a $15 million donation in 1987. Son of Minneapolis barber came to Los Angeles for undergraduate degree. After graduation went to Harvard for M.B.A.; enlisted in Navy (passed C.P.A. exam on shore leave). While working for Arthur Andersen studied for law degree at night. Started law firm Kindel & Anderson; many clients were beverage distributors. In 1956 started Ace Beverage Co.; early distributor of Budweiser. ED ROSKI JR. Net Worth: $1 billion [up] .5% Last year: $995 million Age: 63 Residence: Toluca Lake Source of Wealth: Real estate Background: With fellow billionaires Ron Burkle and Philip Anschutz is backing newly revealed plan to build a 64,000-seat football stadium near Staples Center. Failed in earlier effort to overhaul Coliseum for NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga expansion team. Los Angeles native and former USC football player has stakes in Staples, along with Kings and Lakers (Lakers said to be most valuable franchise in NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= ). Vietnam veteran joined father's company, Majestic Realty, in 1966. Worked to phase out brokerage business; focus now on construction and management. Company owns at least 40 million square feet commercial real estate. Past attempts to buy in Las Vegas have been unsuccessful. Loves the outdoors; known to take treks all over the world. Also, sports car fan. ALAN CASDEN Net Worth: $1 billion [down] 9.1% Last year: $1.1 billion Age: 55 Residence: Beverly Hills Source of Wealth: Real estate Background: Casden Properties agreed to be acquired late last year by Denver REIT Apartment Investment & Management Co. Deal valued at $1.5 billion, including debt. Aimco also agreed to invest up to $50 million for a 20 percent stake in Casden Development, his new company. Deal with public company sheds brighter light on net worth. Endowed Casden Institute at USC. Has extensive ancient coin collection, the oldest dating back 2,500 years. USC accounting major wanted to be a history professor; after graduation ended up at accounting firm specializing in real estate. In early 1980s began developing apartments; has since developed or sponsored over 90,000 units. Grew up in Los Angeles. GEORGE JOSEPH Net Worth: $1 billion [up] 53.8% Last year: $650 million Age: 80 Residence: Hancock Park Source of Wealth: Insurance Background: Owns 35 percent of Mercury General Corp., shares up about 50 percent since last year. But net worth has lagged in recent years (in 1997 was estimated at $1.3 billion). Founded Mercury Casualty Company in Los Angeles in 1961 when most insurers were wary of the automobile market. Cut down on claims and fraud by concentrating on personal information (rather than commercial and vehicle information) and aggressively investigating suspicious claims. Harvard-educated numbers man completed degrees in math and physics in less than three years. Started career as actuarial trainee at Occidental Life, grew jealous of the paychecks in the sales department and subsequently became an entrepreneur. NORMAN LEAR Net Worth: $992 million [up] 10.7% Last year: $896 million Age: 72 Residence: Brentwood Source of Wealth: Entertainment Background: With partner Bud Yorkin produced 1970s TV hits "All in the Family," "Sanford and Son Sanford and Son is an American sitcom that premiered on the NBC television network on January 14, 1972 and was broadcast for six seasons. The final original episode aired on March 25, 1977. Reruns were aired on NBC's daytime schedule from June 14, 1976 to July 21, 1978. ," "The Jeffersons" and "One Day at a Time One Day at a Time is a long-running American situation comedy that portrayed a divorced mother, played by Bonnie Franklin, her two teenage daughters (Mackenzie Phillips and Valerie Bertinelli) and their building superintendent (Pat Harrington, Jr.). ." Left entertainment in 1981, returned in 1990s, investing in TV stations and movie theaters instead of programming. In 1994 sold ABRY Broadcast Partners for $500 million in 1994 and Act III Theatres for $660 million. Wife received $112 million in divorce settlement; she died in 1996. Still invests in media companies through Act III Communications holding company and has seen franchises increase in value. Decades long liberal political activist. 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: $900 million [down] 9.1% Last year: $990 million Age: 72 Residence: Los Angeles Source of Wealth: Inheritance, entertainment Background: Nephew of Walt Disney has $440 million stake in Walt Disney Co. Vice-chairman. Balance of net worth tied up in Shamrock Holdings investment vehicle, estimated $2 billion under management. Decline in value of Disney stock kept net worth from climbing further. Still heads Disney's animation department. Son of Roy O. Disney Roy Oliver Disney (June 24, 1893–December 20, 1971, aged 78) was, with his younger brother Walt Disney, co-founder of what is now The Walt Disney Company. Roy served as the company's chief executive officer (1929–1971)-though title name wasn't given until 1968-, ; attended Pomona College in 1951, assistant editor on TV's "Dragnet Dragnet radio show in which justice is always served. [Radio: Buxton, 73] See : Crime Fighting " before joining family business in 1954 as editor and then writer. Yacht racer said to be driving force behind Jeffrey Katzenberg's departure from Disney--and $250 million severance. 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: $900 million [up] 3.4% Last year: $870 million Age: 74 Residence: Los Angeles Source of Wealth: Inheritance Background: One of the grandchildren of William Randolph Hearst. Today there are approximately 50 grandchildren and great-grandchildren benefiting from Hearst's will, which states that professional managers--not family members--control the empire. Trusts are to last until all grandchildren die. Hearst Corp. is still privately held (as William Randolph Hearst wanted) and operates 12 dailies 16 magazines. Company has a 40 percent stake in publicly traded Hearst-Argyle, which owns 27 TV stations and 2 radio stations. DAVID HEARST JR. Net Worth: $900 million [up] 3.4% Last year: $870 million Age: 56 Residence: Los Angeles Source of Wealth: Inheritance Background: Grandchild of William Randolph Hearst. MILLICENT BOUDJAKDJI Net Worth: $900 million [up] 3.4% Last year: $870 million Age: 61 Residence: Los Angeles Source of Wealth: Inheritance Background: Grandchild of William Randolph Hearst. JEFFREY KATZENBERG Net Worth: $900 million [up] 1.1% Last year: $890 million Age: 51 Residence: Beverly Hills Source of Wealth: Entertainment Background: Heads film division at DreamWorks, which after a slow start has built momentum. Last year's revenues up more than 30 percent, to $1.8 billion. After 10 years as well-paid Disney executive big score came upon departure, made reported $250 million after suing for unpaid compensation. Left childhood buddy Michael Eisner at Disney in 1994 to start DreamWorks SKG with Steven Spielberg and David Geffen. Started career as assistant to USA Networks mogul Barry Diller; ended up as president of Paramount at age 31. Later joined Disney as head of studio division. GARY WINNICK Net Worth: $900 million [down] 57.1% Last year: $2.1 billion Age: 53 Residence: Bel-Air Source of Wealth: Investments, telecommunications Background: Chairman of troubled telecommunications company Global Crossing, Winnick sold $750 million worth of stock before Chapter 11 bankruptcy filing. Also invests with Pacific Capital Group, has 70 percent interest in real estate investment company Colony Capital Inc. Subject of blistering press in recent months--New Times recently pictured him on cover, engulfed in flames, behind headline "Master of Disaster." Already press shy, Global Crossing news has kept him practically underground. Long Island, N.Y. native worked with 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. at Drexel Burn-ham Lambert in the 1980s. Philanthropic efforts include $40 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 a 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, contributions to L.A. Zoo and Cedars-Sinai Health System. STEWART RESNICK Net Worth: $900 million [up] 7.1% Last year: $840 million Age: 64 Residence: Beverly Hills Source of Wealth: Mail-order merchandise Background: Through Roll International Corp. holding company owns Franklin Mint mail order, Teleflora and Paramount Agribusiness, grower of almonds, olives, oranges and pistachios. Franklin Mint, based outside Philadelphia, is largest part of Resnick empire. Stock in Warnaco Group worthless, but Roll revenues up 19 percent in 2001; operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. estimated $87 million. Worked way through law school by running janitorial service, founded Roll with wife. Collects art from 17th and 18th centuries. GUILFORD GLAZER Net Worth: $870 million [up] 2.4% Last year: $850 million Age: 80 Residence: Beverly Hills Source of Wealth: Real estate Background: Son of welder from Knoxville, Tenn., graduate of University of Tennessee The University of Tennessee (UT), sometimes called the University of Tennessee at Knoxville (UT Knoxville or UTK), is the flagship institution of the statewide land-grant University of Tennessee public university system in the American state of Tennessee. . Built apartment building for mother in 1950, expanded to Atlanta, Boston, Pittsburgh and West Virginia. Moved to Los Angeles in 1960. Developed 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. . Retired. Owns at least 40 million square feet of industrial space in 16 states. Unlike industry brethren, does not like to carry heavy debt load. Involved in numerous Jewish causes. Booming California real estate market has boosted worth. MICHAEL MILKEN Net Worth: $810 million [up] 1.3% Last year: $800 million Age: 55 Residence: Encino Source of Wealth: Investments Background: Berkeley graduate went to Wharton School for M.B.A., first person to graduate with perfect 4.0 grade point average. 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 Philadelphia in 1969, moved to New York office in 1970. Joined firm's Beverly Hills office in 1978. Indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. for securities fraud, pleaded guilty to six felony counts and served 22 months in prison. With brother, Lowell and Larry Ellison, chairman of Oracle Corp., is partner in education company Knowledge Universe. In 1997 purchased LeapFrog toy maker, merged with Knowledge Universe. Said to be indirectly lobbying Clinton for pardon, failed. 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 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: $770 million [up] 1.3% Last year: $760 million Age: 58 Residence: Los Angeles Source of Wealth: Financial management Background: Founder and large shareholder 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 last year sold 51 percent interest in firm to Societe Generale, one of France's largest banks, for $880 million. More to come: Societe Generale plans to boost ownership stake to 70 percent between 2003 and 2006. Large parent likely will help TCW growth. Company recently purchased 24-story building in Beijing for $95 million. Started Trust Company of the West with $1.5 million from investors in 1971; assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. have grown to $90 billion. Republican political player was big donor to President Bush's election campaign. Maternal grandfather, William M. Keck, founded Superior Oil. Chairman of Keck Foundation, directs portfolio ROBERT E. PETERSON Net Worth: $760 million [up] 1.3% Last year: $750 million Age: 75 Residence: Beverly Hills Source of Wealth: Publishing Background: Started Hot Rod Magazine Hot Rod magazine is a popular American monthly magazine devoted the the hobby of hot rodding, or modifying automobiles for performance and appearance. History Hot Rod magazine is the oldest magazine devoted to hot rodding having been published since 1948. Robert E. in 1948 with $500, selling copies outside car shows for 25 cents. Added Car Craft, Rod and Custom, Chevy High Performance, Motorcyclist, Guns & Amino, Teen and Sassy. In 1996, sold 90 percent of publishing empire for $450 million. Two years later company was sold to Great Britain's Emap for $1.2 billion, Petersen received $120 million more for remaining 10 percent. Empire now includes Petersen Aviations charter airline service, 18,500-acre ranch near Paso Robles Robles is a common surname in the Spanish language meaning oaks, and may refer to:
TOM WERNER Net Worth: $700 million [up] 6.1% Last year: $660 million Age: 53 Residence: Brentwood Source of Wealth: Entertainment Background: Purchased Boston Red Sox The Boston Red Sox are a professional baseball team based in Boston, Massachusetts. The Red Sox are a member and currently champions of the Eastern Division of Major League Baseball’s American League. From to the present, the Red Sox have played in Fenway Park. early this year for $700 million as part of investment group. Was part owner of San Diego Padres from 1990 to 1995 (slammed for running team into the ground). Harvard graduate, set out to be a documentary film producer; left documentary to join 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. , where he met future business partner Marcy Carsey. Recent romance with "Today" show host Katie Couric has put behind-the-scenes man onto the gossip pages. NEIL NEIL Nuclear Electric Insurance Limited NEIL Network Engineering and Integration Lab KADISHA Net Worth: $700 million Last year: Not on the list Age: 46 Residence: Beverly Hills Source of Wealth: Telecommunications, investments Background: Merged satellite-communications company Omninet with Qualcomm in 1988; still holds large stake but retired from board early this month. In last few months has sold tens of millions dollars in Qualcomm shares. Also chairman of Switchpoint Networks, broadband provider. Presides over Beverly Hills-based Omninet Capital venture capital firm, owns stakes in multiple technology outfits. PHILIP EVANS KAMINS Net Worth: $700 million [up] 3.7% Last year: $675 million Age: 65 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 conglomerate with more than 20 distinct companies. Makes everything from children's toys to semiconductors for the aerospace industry. Revenues for 2001 were $784 million, down from 1990 when sales exceeded $1 billion; still one of the largest private companies in Los Angeles. PMC has focused recently on buying small- to mid-size businesses, many in the defense industry. Rebound in defense spending likely will boost revenues. Has also sold lagging assets in past years. Chicago native got a job at plastics scrap dealer after graduating from Northwestern. Started scrap yard, Kamco Plastics, in Los Angeles, 1964. Founded PMC Global, acronym for Plastic Management Corp., in 1971. MARCY CARSEY Net Worth: $680 million [up] 3% Last year: $660 million Age: 57 Residence: Brentwood Source of Wealth: Entertainment Background: Independent production house Carsey-Werner-Mandabach has been churning out fewer hits as of late--a contrast to its heyday in the late 1980s when it had "The Cosby Show," "Roseanne" and "A Different World." Laid off 35 of 130 employees earlier this month. Carsey started showbiz career as NBC NBC 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. tour guide, then production assistant for the "Tonight Show" in New York. Moved to Los Angeles with writer husband, John Carsey; eventually became senior vice president at ABC. Left when network rejected pitch for series starring Bill Cosby. Started her own production house and was joined one year later by partner Tom Werner. PETER MORTON Net Worth: $670 million [up] 1.5% Last year: $660 million Age: 54 Residence: Beverly Hills Source of Wealth: Restaurants, hotels, gaming Background: Son of steakhouse legend Arnie Morton. Started restaurant empire three decades ago in London with hamburger joint, "Great American Disaster." Added music to the hamburger-in-London concept and opened first Hard Rock Cafe Hard Rock Cafe is a chain of casual dining restaurants. It was founded in 1971 by Isaac Tigrett and Peter Morton, and their first Hard Rock Cafe opened near Hyde Park Corner in London, in a former Rolls Royce car dealerships showroom close to Hyde Park, where in 1979 they began to a year later. With financing from Hollywood types Steven Spielberg and Barry Diller among others, branched out in the U.S. and worldwide. Sold Hard Rock chain in 1996, walked away with $460 million. Today owns more than 90 percent of Hard Rock Hotel Inc. in Las Vegas; jets between L.A. and Vegas on private jet. After consecutive years of losses, Hard Rock Hotel returned to profitability last year. LOWELL J. MILKEN Net Worth: $660 million [UP] 1.5% Last year: $650 million Age: 53 Residence: Los Angeles Source of Wealth: Investments Background: Younger brother of Michael, also attended Berkeley. After UCLA law degree joined L.A. law 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. Chairman of the Milken Family Foundation, with $271 million in assets; dispenses funds to teachers, educational programs and medical research. Even more private than Michael. DAVID GOLD & FAMILY Net Worth: $650 million [up] 62.5% Last year: $400 million Age: 69 Residence: Los Angeles Source of Wealth: Discount retail Background: With family, owns more than 17 percent of 99 Cents Only Stores. Company shares, trading near 52-week high, are up nearly 50 percent from year-ago prices. Began retailing career with downtown liquor store, noticed 99-cent priced items sold better than other discount items. Opened first location in Inglewood in 1982, has never stopped growing despite numerous copycats. Unsuccessful with other concepts; two years ago purchased Minneapolis-based retailer in attempt to expand, but concept created earnings drag and was sold off late last year. Son of Russian immigrants still lives in Mid-Wilshire neighborhood he grew up in; known for work ethic and lack of attitude, isn't averse to manual labor. LLOYD COTSEN Net Worth: $650 million [up] 4.8% Last year: $620 million Age: 73 Residence: Beverly Hills Source of Wealth: Cosmetics Background: Harvard Business Grad came West in 1957 to work at father-in-law's cosmetics company, Natone. Became president in 1967, changed name to Neutrogena and began marketing soap to dermatologists. Neutrogena sold to Johnson & Johnson in 1994, took home $348 million from sale. Has invested in real estate through Cotsen Management Group. Besides investments, mostly retired. Collector of folk art; has donated to UCLA and Santa Fe Museum of International Folk Art The Museum of International Folk Art is a state-run institution in Santa Fe, New Mexico, USA. It is one of eight museums operated by the New Mexico Department of Cultural Affairs. . WILLIAM BARRON HILTON Net Worth: $650 million [up] 28.5% Last year: $506 million Age: 74 Residence: Holmby Hills Source of Wealth: Discount retail Background: Texas-born son of Hilton Hotels founder, Conrad, moved to Los Angeles in 1935. Joined family business in 1951 as elevator operator. Became president and chief executive in 1961, remains chairman. Owns more than 23 million shares in Hilton Hotels Corp., about 23 million shares Park Place Entertainment, Hilton's casino spin off. Despite 38 percent drop in first quarter profit, shares of Hilton up almost 50 percent this year. Avid outdoorsman, owns private duck hunting island in Northern California. MICHAEL EISNER Net Worth: $550 million [down] 6% Last year: $585 million Age: 59 Residence: Burbank, Malibu Source of Wealth: Entertainment Background: Disney stuck lagging, net worth has taken a hit. Company subject to sporadic takeover rumors, though nothing serious--yet. No. 2 man Robert Iger is likely successor, Eisner isn't talking. Trying to brighten Disney's corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. image; recently hired consultant to evaluate what critics say has been a rubber stamp board. Ardent stance on digital piracy supposedly created conflict with Pixar (and Apple) Chief Executive Steve Jobs. Pixar is partner in Disney animated features, but Eisner has hit Apple with negative comments on new technologies. New York native, Eisner began as clerk for NBC. Joined Disney in 1984 after stint as chief executive of Paramount Pictures. SELIM ZILKHA Net Worth: $550 million [down] 45% Last year: $1 billion Age: 75 Residence: Bel-Air Source of Wealth: Natural gas, oil Background: Owns 12.3 million shares of El Paso Corp., down almost 50 percent from last year, when net worth was at $1 billion. With son, Michael, owns wind power company Zilkha Renewable Energy. Born in Baghdad, family fled to London in WWII. From 1960 to 1982 was chairman of Mothercare PLC, retail chain catering to mothers-to-be and children in Great Britain, Europe and United States. Moved to Bel-Air in 1982. Began investing in oil. In 1998 sold Zilkha Energy company to Sonat for $1 billion; year later Sonat bought by El Paso Corp. Close friends with former L.A. Mayor Richard Riordan. GLORIA JOSEPH Net Worth: $500 million Last year: Not on the list Age: 78 Residence: Los Angeles Source of Wealth: Insurance Background: Worked with ex-husband, Mercury General Corp. founder George Joseph, from 1961 to 1985, serving as a vice president at Mercury. Still owns 17 percent of Mercury's outstanding stock, continues to hold seat on board. DAVID I. SAPERSTEIN Net Worth: $450 million Last year: Not on the list Age: 61 Residence: Holmby Hills Source of Wealth: Broadcasting Background: Former Metro Networks chief moved to Los Angeles from Houston last year; building 45,000 square foot mansion. Car dealer in the 1970s; sitting in traffic, came up with an idea for a firm that sold traffic reports to radio stations in exchange for free advertising for his dealerships. Metro Networks started charging fees, moved into sports, weather and news. Purchased by Westwood One in 1999, Saperstein owns more than $300 million in Westwood One stock. Shares have rebounded strongly following Sept. 11 decline, trading near 52-week high $40.50. Has been selling shares recently. With wife Suzanne, big supporter of GOP. |
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