New heights: many of L.A's richest boosted their net worth.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: $8.3 billion [down arrow] 6.7% Last Year: $89 billion Age: 81 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 third-largest U.S. media company, Viacom Inc., which includes CBS (Cell Broadcast Service) See cell broadcast. , MTV MTV in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. , Paramount Pictures and Infinity Broadcasting. Married former schoolteacher Paula Fortunato in April 2003 and took up residence in a $14.5 million Beverly Hills home purchased from Sylvester Stallone (gloats that he paid $1.5 million less than Sly). Viacom shares are down 9 percent from last May at roughly $35 a share--and significantly off summer 2000 high of $70. Company spun off poor-performing Blockbuster last October. Redstone also won a power struggle with 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. , who was replaced in the number two spot by co-chief operating officers Tom Freston Thomas E. Freston (born 22 November 1945) is an American television executive who most recently served as President and Chief Executive Officer of the post-split Viacom, until his resignation on September 5, 2006. and Les Moonves. Redstone plans to remain chairman of Viacom, but announced his intention to step down as chief executive by December 2007. His pay reached $56 million last year, including a salary of nearly $5 million, a $16.5 million bonus and stock options valued at north of $34 million. Daughter Shaft is taking a more active role in the company, serving as president and director of 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. Born in Boston to drive-in-theater owner, Redstone earned a 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, also got his law degree there in 1947. Served in World War II Military Intelligence Division breaking Japanese code. After brief law career, joined father's National Amusements Inc. in 1954 and built it into 1,425-screen movie theater chain, acquiring a 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. Can be seen on occasion at Dan Tana's. Active in 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, ; supported John Kerry's presidential bid. 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: $8.1 billion [up arrow] 9.5% Last Year: $7.4 billion Age: 87 Residence: Beverly Hills Source of Wealth: Investments Background: Billionaire investor recently purchased 22 million shares of General Motors stock and offered to buy another 28 million for $868 million. Says the investment. which would amount to 8.8 percent of the struggling automaker's stock, is passive. But Kerkorian has a history as an active investor who can be patient when he wants to. In the 1990s, he pressured Chrysler Corp. to increase its dividend by launching a hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. bid. He eventually reached a detente dé·tente n. 1. A relaxing or easing, as of tension between rivals. 2. A policy toward a rival nation or bloc characterized by increased diplomatic, commercial, and cultural contact and a desire to reduce tensions, as through with Chrysler management and supported its merger with Daimler-Benz--only to sue later. He is appealing a U.S. District Court ruling last month against him in a $1 billion lawsuit over the 1998 merger between Chrysler and Daimler-Benz. Kerkorian has also bought and sold Metro-Goldwyn-Mayer Inc. three times, most recently selling to a consortium led by Sony Corp. last year, for $4.9 billion (netting over $2 billion). Still controls 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. Inc., which acquired Mandalay Resort Group Mandalay Resort Group was a hotel-casino operator based in Las Vegas, Nevada. Its major properties included Mandalay Bay, Luxor, Excalibur and Circus Circus, as well as half of the Monte Carlo. last year and now owns more than half the hotel rooms on the Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. . MGM Mirage shares have risen more than 50 percent in the past 12 months. The 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 an amateur boxer, flew in the Royal Air Force during World War II, pocketing a small fortune for flying dangerous missions. He began amassing a serious fortune in 1947 with purchase of charter airline in Los Angeles. Owns stakes in both GM and 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. through his private investment company, Tracinda Corp., based in Beverly Hills. BARBARA DAVIS Barbara Davis is the widow of Marvin Davis. Although the Davis' wealth exceeded $5 billion during Marvin’s life, it has recently been reported in multiple media outlets including Forbes that the majority the family’s wealth has been lessened to a few hundred million, if AND FAMILY Net Worth: $6.4 billion [up arrow] 6.7% Last Year: $6 billion Age: Would not disclose Residence: Beverly Hills Source of Wealth: Oil, real estate, entertainment Background: 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 died in September at the age of 79, leaving wife Barbara--they were high school sweethearts--and five children. (Family would not disclose details of how Davis' assets were distributed to his heirs.) She did sell the couple's legendary Beverly Hills home, "the Knoll," for $46 million, after it was originally listed for $70 million. Family owns several radio stations. Son Gregg runs Texas-based energy companies 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. Petroleum Corp., Davis Petroleum Pipeline and Davis Offshore, holding lucrative leases in Texas and the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . He has plans to re-enter re·en·ter also re-en·ter v. re·en·tered, re·en·ter·ing, re·en·ters v.tr. 1. To enter or come in to again. 2. To record again on a list or ledger. v.intr. the Colorado market where Marvin Davis first struck it rich in oil and real estate (later moving to Los Angeles). Son John is a producer, running Davis Entertainment Co. and Davis Entertainment Television, with titles including "Daddy Day Care" and "Dr. Doolittle." Barbara Davis long has been active in charitable causes. After daughter Dana was diagnosed with juvenile diabetes juvenile diabetes n. Insulin-dependent diabetes. in 1977, she founded the Children's Diabetes Foundation and the Barbara Davis Center for Childhood Diabetes in Denver. Also founded the Nancy Davis Foundation for Multiple Sclerosis in 1993 after daughter Nancy was diagnosed with the disease. Donates prolifically and often anonymously. Known for hosting the Carousel of Hope gala fundraiser for diabetes research. 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: $4.8 billion [down arrow] 9.4% Last Year: $5.3 billion Age: 72 Residence: Brentwood Source of Wealth: Homebuilding, insurance Background: May not be the richest, but generally regarded as the most influential Angeleno. Broad has made a goal of reshaping the city, and puts his money where his mouth is. Led efforts to turn around Museum of Contemporary Art and Los Angeles County Museum of Art The Los Angeles County Museum of Art, also known as LACMA, is the official and world-renowned art museum of the County of Los Angeles, California, located on Wilshire Boulevard along Museum Row in the Miracle Mile vicinity of Los Angeles. with major donations of his own art pieces. Placed LACMA LACMA Los Angeles County Museum of Art LACMA Los Angeles County Medical Association LACMA Latin American and Caribbean Movers Association on the contemporary art map and reshaped its board; brought in architect Renzo Piano Renzo Piano (September 14 1937) is a world renowned Italian architect and Pritzker Architecture Prize winner. Biography Piano was born in Genoa, where he still maintains a home and office (Building Workshop). for $156-million refurbishing project, including $60 million from Broad for new LACMA wing housing the Eli Broad Contemporary Museum. New project replaces Rem Koolhaas' highly contested proposal. Made his fortune co-founding homebuilder KB Home and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm SunAmerica. Sold SunAmerica to insurer American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. in 1998 for $18 billion. Broad has lost $700 million in 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 holdings after the stock plummeted on talk of earnings being manipulated. Put the brakes on a furious pace of philanthropy, giving away $100 million last year, compared with $409 million in 2003. Jump-started then-floundering 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. , now leads massive redevelopment project along Grand Avenue. 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. MURDOCK Net Worth: $4.5 billion [up arrow] 50% Last Year: $3 billion * Age: 82 Residence: Los Angeles Source of Wealth: Real estate, agriculture Background: It's been a good year for the owner of Dole Foods Co., which Murdock took private in March 2003. Earnings are up and debt leverage is down. Added to fresh and frozen fruit holdings last year by acquiring Coastal Berry and J.R. Wood. Real estate holdings also growing; Castle & Cooke's residential group delivered over 1,800 homes and lots last year in Hawaii, California, Arizona, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and Florida. Owns 98 percent of Hawaiian island 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. , the largest privately owned island in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Combined companies employ more than 67,000 in more than 90 countries. 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, lost and made fortune again in California real estate development and through acquisition and reorganization of undervalued companies. Healthy eating advocate, he is constructing a wellbeing complex that will include medical facilities, television production facilities and a five-star hotel next to Dole headquarters. Breeder of more than 200 Arabian horses. Has orchid collection with 30,000 plus plants. Big Republican Party supporter. * Revised JEFFREY SKOLL Jeffrey Skoll (born January 16, 1965) is a Canadian born businessman who lives in Los Angeles, California.[1] He was the second employee and first president of internet auction firm eBay, and used the wealth this gave him to become a philanthropist and to found the Net Worth: $4.5 billion Last Year: Not on list Age: 40 Residence: Los Angeles Source of Wealth: Internet Background: First president of eBay Inc. and one of its largest shareholders. Retired from company in 2001. Intensely private. Skoll splits his time between Los Angeles and the Bay area. Has more than $4 billion in volatile eBay stock, which has fallen to the mid-$30s range from nearly $60 in January. Started Skoll Foundation Skoll Foundation was found by Jeffrey Skoll in 1999. The Foundation supports "social entrepreneurship." Skoll chairs the Foundation and today makes grants in excess of $30M per year. in 1999 with about $380 million to support social entrepreneurship Social entrepreneurship is the work of a social entrepreneur. A social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. around the globe; serves as chairman. Foundation gave away more than $25 million last year to budding entrepreneurs in the U.S. and developing countries. Founded film production company Participant Productions that finances documentaries and feature films with socially conscious themes. Endowed the Skoll Centre for Social Entrepreneurship at the Said Business School at Oxford University, donated $7.5 million to University of Toronto Research at the University of Toronto has been responsible for the world's first electronic heart pacemaker, artificial larynx, single-lung transplant, nerve transplant, artificial pancreas, chemical laser, G-suit, the first practical electron microscope, the first cloning of T-cells, . Born in Canada, went to University of Toronto before going to Stanford Business School, class of 1995. DAVID GEFFEN Net Worth: $4.3 billion [up arrow] 22.9% Last Year: $35 billion Age: 62 Residence: Malibu Source of Wealth: Entertainment Background: Co-founded DreamWorks Studios with Spielberg and Katzenberg in 1994. Studio spun off animation unit last year before release of "Shrek 2," which helped Dreamworks Animation SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global gross over $1 billion in 2004, more than tripling 2003's grosses. Stock in animation company took a hit with lower-than-expected first-quarter earnings, but is still above 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. Vivendi Universal SA bought 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. for $100 million, after Geffen sold the music unit's Beverly Hills office for $33 million. Born in Brooklyn to working-class parents, Geffen dropped out of college to pursue career in entertainment, starting out in the 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. Founded 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 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, sold a rare drip painting by Jackson Pollock for $52 million to Steven A. Cohen For other persons with a similar name, see . Steven A. Cohen (born circa 1956), a self-made billionaire hedge fund investor, is the founder and manager of SAC Capital Partners, a Stamford, Connecticut-based hedge fund. . 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 in 2001. In 1991, invested $200 million with hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" manager Eddie Lampert. Stake could be worth more than $5 billion today, but Geffen won't elaborate. Must pay legal bills after losing battle to privatize beach in front of his Malibu 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. property. PATRICK SOON-SHIONG Net Worth: $3.6 billion [up arrow] 157.1% Last Year: $1.4 billion Age: 52 Residence: Los Angeles Source of Wealth: Pharmaceuticals Background: Hit it big when the Food and Drug Administration approved Abraxane cancer drug, sending shares of American Pharmaceutical Partners Inc. through the roof and confounding confounding when the effects of two, or more, processes on results cannot be separated, the results are said to be confounded, a cause of bias in disease studies. confounding factor Wall Street short sellers. Drug is a more effective form of the best-selling breast cancer drug Taxol and a big addition to the drug maker's cabinet of generics. Soon-Shiong founded and owns 80 percent of the privately held biotech firm American BioScience, which in turn owns 68.4 percent of public American Pharmaceutical Partners. Analysts project sales of Abraxane will top $250 million next year. The South African-born doctor joined UCLA medical school faculty in 1983. As surgeon, he helped pioneer procedure to transplant pancreatic cells to treat diabetes in 1986. Co-invented 30 patented compounds that form basis for Abraxane and other possible drugs. Went on to start VivoRx with brother Terrence to pursue diabetes research but company wound up in nasty dispute with brother and another pharmaceutical company. Formed American BioScience for cancer research. STEVEN FERENCZ UDVAR-HAZY Net Worth: $3 billion [up arrow] 5.4% Last Year: $2.6 billion Age: 59 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: The chairman and chief executive of International Lease Finance Corp. took a hit when stock in embattled insurance giant American International Group plummeted (with Leslie and Louis Gonda, he sold the jet leasing company to AIG in 1990). But he has more than made up for that loss; claims $750 million in non-AIG equity stakes, $380 million in securities and about $130 million in real estate. Values collections of art, autos, antiques and planes at $54 million. Founded jet leasing company in 1973 and took it public a decade later. Director of Skywest Inc. and certified jet pilot. 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. dedicated the 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 2003, in recognition of his $60 million donation. Gives to UCLA, the L.A. Science Center Museum, Stanford University and the Embry Riddle Aeronautical aer·o·nau·tic also aer·o·nau·ti·cal adj. Of or relating to aeronautics. aer  o·nau University. Born in Budapest, Hungary in 1946, immigrated to U.S. in
1958.EDWARD ROSKI JR. Net Worth: $2.8 billion [up arrow] 12% Last Year: $2.5 billion * Age: 66 Residence: Toluca Lake Source of Wealth: Real estate Background: Roski's Majestic Realty, the largest commercial developer in Southern California, put up Staples Center with Denver billionaire Philip Anschutz. Portfolio grew to 58.7 million square feet last year and Majestic is developing another 3 million or so square feet. Roski made it big not in corporate boardrooms, but in gritty places like City of Industry, Commerce and Chino Chino (chē`nō), city (1990 pop. 59,682), San Bernardino co., S Calif.; founded 1887, inc. 1910. It is the business and processing center of a diversified farming (notably dairying) area. . His business parks in Industry--Crossroads, Fairway and Grand Crossing --regularly sign leases for warehouse and distribution space in the tens of millions of dollars. Has branched into gaming, owns Silverton Casino in Las Vegas and adjacent 100 acres off Strip; casino undergoing $150-million expansion. Also developing 424-acre Beltway Business Park in Las Vegas with Thomas & Mack Co., and Northern Beltway, a 103-acre business park for heavy manufacturing and warehouses. Raised in Westchester, played football at USC An abbreviation for U.S. Code. , served in Marines before joining family business in 1960s. Part owner of L.A. Kings hockey team and has small stake in L.A. 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 $454 million. Working off and on with Anschutz and Casey Wasserman to bring NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga team to Los Angeles. * Revised BRADLEY WAYNE HUGHES & FAMILY Net Worth: $2.7 billion [up arrow] 35% Last Year: $2 billion Age: 71 Residence: Malibu Source of Wealth: Storage facilities Background: The chairman of Glendale-based Public Storage Inc. got a boost as stock climbed 50 percent over the course of the past year. Started Public Storage with one property in 1972; merged 18 affiliated real estate investment trusts into Public Storage from 1994 to 1998. Today, REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). has interests in nearly 1,400 storage facilities in 37 states. Drew $60,000 salary as chief executive until retirement last year. Owns two adjacent beachfront properties in Malibu of two acres each. Longtime racehorse racehorse refers usually to thoroughbred but may also include standardbred, trotter. owner, bought 773-acre Kentucky thoroughbred nursery Spendthrift Farm last June. Had four horses nominated this year for the Triple Crown; owns fourth-place Kentucky Derby finisher Don't Get Mad. STEVEN SPIELBERG Net Worth: $2.6 billion [up arrow] 8.3% Last Year: $24 billion Age: 57 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 Geffen and Katzenberg in 1994 with the hopes of building a full-fledged studio, but only the movie division has really prospered. Will capitalize on spinoff animation company, which went public last year. Says he gets to much credit for being an astute businessman, but he does have a way of locking up lucrative deals. Reportedly collects 2 percent of gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. at Universal parks in Florida, as well as a piece of Universal Studios Japan Universal Studios Japan (ユニバーサル・スタジオ・ジャパン receipts for consultant work--part of a deal set up in the 1980s to reward his creative success. Continues to direct and produce major blockbusters. Upcoming films include "War of the Worlds," a remake of the H.G. Wells classic starting Tom Cruise that will be released this summer. Future projects include "Indiana Jones 4" (directing) and "Jurassic Park IV" (producing). Founded Shoah Visual History Foundation to preserve memory of the Holocaust using video testimony. Received numerous honors, including being knighted by British Empire. JOHN SHEA & FAMILY Net Worth: $2.4 billion [up arrow] 118.2% Last Year: $1.1 billion Age: 78 Residence: Pasadena Source of Wealth: Homebuilding, apartments Background: Family patriarch John F. Shea started company as plumbing wholesaler in Oregon in 1881. Evolved into multi-division J.F. Shea Co., nation's largest privately held homebuilder. Helped build Washington, D.C., subway system, 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. , Hoover Dam. Divisions include Shea Properties (develops and manages commercial and apartment properties), Shea Homes (designs and builds homes and planned communities), and Shea Mortgage (home financing unit). Shea Properties holds portfolio exceeding 15 million square feet, worth $1.3 billion. John owns 50 percent, his cousins Peter and Edmund share the rest. Homebuilding is newest activity, with operations in California, Washington state, Arizona and North Carolina; autonomous operation of those units, ability to respond to local market credited with homebuilding division's growth from to $3 billion last year from $1.3 billion in 1999. HAIM SABAN Net Worth: $2.3 billion [up arrow] 35.3% Last Year: $1.7 billion Age: 60 Residence: Beverly Hills Source of Wealth: Entertainment Background: Egyptian-born Saban moved to Israel at age 12, founded Saban Entertainment in 1980, developed Japanese-style cartoon hits "Teenage Mutant Ninja Turtles" and "Mighty Morphin' Power Rangers." Sold "Power Rangers" to News Corp. for half ownership in Fox Family Network. Walt Disney Co. bought Fox Family Network for $5.3 billion, netting Saban $1.7 billion. His Saban Capital group bought 36 percent stake in German broadcaster ProSiebenSat.1 from bankrupt Kirch Media in 2003; his stake is now worth $685 million. Recently pledged with partners to pay $972 million for 30 percent stake in Bezeq, a telecom company with monopoly on domestic landlines in Israel. Saban donated $140 million in 2003 to children's health Children's Health Definition Children's health encompasses the physical, mental, emotional, and social well-being of children from infancy through adolescence. causes in the U.S. and Israel, including $40 million for Children's Hospital Los Angeles Childrens Hospital Los Angeles (founded 1901) is a private, non-profit teaching hospital in Los Angeles. It is affiliated with the Keck School of Medicine of USC and the Children's Miracle Network, an international non-profit organization dedicated to helping children by raising . Major contributor to Democrats, but slowed down political donations to $173,000 in last year's elections, from $9 million in 2002. A. JERROLD PERENCHIO Net Worth: $2.1 billion [down arrow] 27.6% Last Year: $29 billion Age: 74 Residence: Beverly Hills Source of Wealth: Entertainment Background: Famously reclusive re·clu·sive adj. 1. Seeking or preferring seclusion or isolation. 2. Providing seclusion: a reclusive hut. , seldom-photographed head of Spanish-language media behemoth behemoth (bē`hĭmŏth, bĭhē`–) [Heb.,=plural of beast], large, fanciful primeval monster, like Leviathan, evoking the hippopotamus mentioned in the Book of Job. Univision Communications Inc. takes no salary; heavy concentration in Univision and Coca-Cola stock makes wealth fluctuate. Regularly sells large amounts of Univision when TV ratings boost price; sold 1 million shares last year for $20 million and now owns 37 million Univision shares. Former Hollywood talent agent and boxing promoter teamed with Emilio Azcarraga to buy Univision from Hallmark in 1992. Benefited from explosion of Spanish-language media. Azcarraga became CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Televisa, which provides programming to Univision and is now a competitor. Appears to have won ownership battle for Univision with Azcarraga, who resigned as Televisa's CEO. Perenchio bankrolled first 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 entirely in Los Angeles. His more than 30 acres of beachside beach·side adj. Situated on or along a beach. real estate in downtown Malibu has gotten him into squabbles with environmental advocates. Built small golf course for his wife, a former competitive golfer, agreed to donate it to California after couple dies as compromise. Major political donor in both aisles, $4 million to each party. Gave $1.5 million to Gov. Arnold Schwarzenegger's initiative fund last year. Helped President Bush raise $3.5 million at fundraiser at his home in L.A. ROLAND ARNALL Net Worth: $2.1 billion [up arrow] 75% Last Year: $1.2 billion Age: 66 Residence: Holmby Hills Source of Wealth: Financial services Background: Founded Ameriquest Mortgage Co. in 1979 as a sub-prime lender called Long Beach Savings & Loan. Reorganized retail business and expanded to become a full-service mortgage lender last year. Intensely private, Arnall was once said to be considering a public offering for his company. But Ameriquest faces accusations of predatory lending in a California lawsuit seeking class-action status. Connecticut banking regulators also have moved to withdraw the company's lending license. Ameriquest entered into a 30-year partnership with the Texas Rangers, whose ballpark in Arlington, Texas, is now called Ameriquest Field. Partnership gives away 10,000 Rangers tickets to underprivileged children. Politics span both sides of the aisle: big donor to former Gov. Gray Davis, who officiated at his wedding in 2000; also donated to President Bush's re-election bid. Trustee to the California State University system California State University System, coordinating agency established in 1960 by the merger of individual California state colleges, now consisting of 23 campuses. , founding co-chairman of the Simon Wiesenthal Center  This article is currently semi-protected to prevent sock puppets of currently blocked or banned users from editing it. and the 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. . Owns 650-acre ranch in
Aspen, Colo. In 2002, purchased singer Engelbert Humperdinck's
10-acre compound in Holmby Hills for about $30 million. Born in Paris,
relocated to Montreal after World War II. Moved to California in the
1950s.RON BURKLE Net Worth: $2 billion [up arrow] 5.3% Last Year: $1.9 billion Age: 52 Residence: Beverly Hills Source of Wealth: Supermarkets, investments Background: Scaled supermarket industry from bag boy at dad's 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) . to owner of grocery empire. First buyout attempt at age 28, of Stater Bros., failed and got him fired. Made fortune buying out grocery chains through private equity firm Yucaipa Cos., founded in 1986. Owned Fred Meyer, Food 4 Less and Ralphs grocery chains, sold them all to Kroger in 1999; still owns millions in Kroger stock. Recently bought $150 million minority stake in grocery chain Pathmark; has bet on wildly growing natural foods specialty chains with purchase of 9.2 percent stake in Wild Oats. Last year bought cold storage company Ameri-cold Logistics and TDS TDS total dissolved solids. Logistics, which serves automotive industry for $100 million each. Through money management and hedge fund activities, Burkle is branching into entertainment and fashion. Bought Alliance Entertainment and invested $100 million in Sean "Puffy" Combs' Sean Jean; owns private 757 jet dubbed "Ron Air." Active fundraiser and friend of high-profile Democrats, including Bill Clinton and Jesse Jackson (who have been on Yucaipa's board), Al Gore and John Kerry. Messy divorce in 1990s led to recent court fight over alimony alimony, in law, allowance for support that an individual pays to his or her former spouse, usually as part of a divorce settlement. It is based on the common law right of a wife to be supported by her husband, but in the United States, the Supreme Court in 1979 payments to his ex-wife. Got some public documents from the divorce case sealed. TOM GORES Net Worth: $2 billion [up arrow] 11.1% Last Year: $1.8 billion Age: 40 Residence: Beverly Hills Source of Wealth: Leveraged buyouts Background: Younger of highly competitive Gores brothers, Tom once worked for Alec Gores but has surpassed his brother in wealth since leaving to form Platinum Equity, whose portfolio of 21 companies generates $8 billion in revenues. Last year invested in transportation and logistics technology companies; acquired 11 companies in 2004 including German textile dye manufacturer DyStar, which had 2003 sales of $1 billion. In a typical move, he acquired Dallas-based CompuCom Systems for cash in a public-to-private transaction last fall, then bought General Electric Co.'s information technology solutions unit and merged them, giving CompuCom $1.7 billion in revenues. Last year established $700 million fund, Platinum Equity Capital Partners. Owns office and residential real estate in Malibu and Beverly Hills, including former headquarters of Global Crossing, which Tom and brother Alec unsuccessfully tried to buy out of bankruptcy in 2002. Tom finally got a piece of Global Crossing--his Matrix Telecom unit agreed to purchase Global Crossing's small-business unit for $40.5 million cash, expected to close in the third quarter. Recent forays into entertainment include five-year pact with Frank Mancuso Jr. to launch 360 Pictures and produce formulaic youth action flicks on the cheap. Also bought European movie, music and game distributors Universal Group Direct (U.K.) and Dial (France) from Vivendi Universal. ROBERT ADDISON DAY JR. Net Worth: $1.7 billion [up arrow] 109.4% Last Year: $812 million Age: 61 Residence: Los Angeles Source of Wealth: Financial management Background: Founded investment manager 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, more than 14 million shares. Under agreement, holdings to increase to 71 percent by 2006. SG stock has risen modestly over the past year, but strong Euro has increased share value in dollars by 70 percent, vaulting Day's fortune past the billion-dollar mark. Owns 1,800-acre resort in Los Cabos, Mexico, called Cabo del Sol. Includes two golf courses, one designed by Jack Nicklaus. With two miles of beachfront property, resort has two premier hotels and a master-planned community. Started Trust Co. of the West in 1971 with $1.5 million from investors. Chairman of $1.5 billion W.M. Keck Foundation that makes grants in medical research, science and engineering. Maternal grandfather William M. Keck founded Superior Oil Co. and foundation. FRANKLIN OTIS BOOTH JR. Net Worth: $1.6 billion [down arrow] 5.9% Last Year: $1.7 billion Age: 81 Residence: Bel Air Source of Wealth: Investments Background: His 17,000 shares of Berkshire Hathaway took a hit this year amid an insurance industry scandal that ousted AIG chief Hank Greenberg and has extended to Berkshire's General reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. unit. Shares are trading around $82,000 after topping $90,000 earlier this year. Met Charles Munger and invested $1 million in Warren Buffett's Omaha investment company in 1963. Real estate holdings include more than 5,000 acres of orange groves and 4,000 acres of cattle ranch. Currently expanding Otis Orchards, now one of the largest independent orange growers in California. Great-grandson of Times Mirror founder Harrison Gray Otis
Harrison Gray Otis . Entered college at age 16, received engineering degree from Caltech and MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Stanford. Did 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). (pre-Tribune), and left to start printing business that failed. Married to Lynn Hirsch, widow of Newport businessman Clement Hirsch. Enjoys fly-fishing; flies own Learjet. CHARLES T. MUNGER Net Worth: $1.6 billion [down arrow] 5.9% Last Year: $1.7 billion * Age: 81 Residence: Los Angeles Source of Wealth: Investments Background: The investor and longtime friend of 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 saw his wealth decline as Berkshire Hathaway's shares slumped amid link to AIG scandal and other woes. Has about 16,000 shares of Berkshire, where he is vice chairman. Also is chairman and chief executive at Wesco Financial (80 percent Berkshire owned), which has seen stock price rebound on improved net income. Sits on the board of Costco. Known for demanding analysis of investments. Appears to be stepping up philanthropic contributions; with wife Nancy, donated 500 shares of Berkshire stock worth $43.5 million to Stanford University to help construct new graduate student residence (wife is an alumna of the university and daughter Wendy is a trustee). Previously donated $21 million to fund new wing at Huntington Library in Pasadena and gave 100 shares of Berkshire stock to private Harvard-Westlake School in 2003. * Revised 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: $1.6 billion [up arrow] 45.5% Last Year: $1.1 billion Age: 79 Residence: Mulholland Estates Source of Wealth: Biomed/biotech Background: Another good year for the serial entrepreneur Serial entrepreneur Business person that successfully starts (does not kill) a number of different businesses. . His latest company, biopharmaceutical firm MannKind Corp., went public last year and his stake is now worth $240 million. Also sold inner ear implant maker Advanced Bionics to Boston Scientific last year for $4.5 billion over 10 years (he will get about half). Founded diabetes treatment company Minimed and sold off in 2001 with a related company to Medtronic for $3.7 billion. Recently donated $50 million for his Alfred E. Mann Institute for Biomedical Engineering The Alfred E. Mann Institute for Biomedical Engineering, commonly known as the Alfred Mann Institute, AMI or Mann Institute of Biomedical Engineering, is located on the University Park campus of the University of Southern California (USC). at USC. Plans to fund 11 more research institutions at domestic and foreign universities, notably in Israel, where he has pledged $100 million to Technion-Israeli Institute of Technology. Became 40 percent owner of Eclipse Aviation as favor to friend. Maker of lightweight, inexpensive ($1.3 million each) private jets; makes no money now, but claims orders for 2,200 units. Residence on Mulholland features Koi pond that meanders through home. ANTHONY PRITZKER Net Worth: $1.5 billion Last Year: Not on list Age: 44 Residence: Holmby Hills Source of Wealth: Hospitality Background: Member of Chicago's Pritzker family, whose fortune is estimated at $15 billion. Family controls Hyatt hotel chain, has 25 percent stake in Royal Caribbean Cruises and major commercial real estate and industrial holdings. Started Seal Beach-based Pritzker Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control with brother J.B. in 2002, using family funds. The $300 million private equity firm invests $10 million to $100 million in companies the brothers believe undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . Also started private equity group Stainless Industrial Cos. in 1998. Graduated from Dartmouth College; worked in Silicon Valley and Japan before getting MBA from University of Chicago. Started working for the family business at Marmon Group and moved to Southern California to turn around a Valencia medical device company the family had bought. Avid triathlete tri·ath·lete n. One who competes in a triathlon. , Pritzker has participated in the Hawaiian Ironman competition. Fluent in Japanese. JOHN E. ANDERSON Net Worth: $1.4 billion [up arrow] 7.7% Last Year: $1.3 billion Age: 87 Residence: Bel Air Source of Wealth: Investments Background: Owner of Topa Equities, holding company for 42 businesses in real estate, beverage distribution, car dealerships, insurance and agriculture. Largest landowner in Westwood Village and on Montana Avenue's shopping area in Santa Monica. Recently purchased additional land in Hawaii, where beer distribution operation has doubled. Also bought the Corona and Budweiser beer franchises for Pasadena. In 1998, sold what is now Mellon 1st Business Bank and netted $180 million. Elected to bank's board in 2004. Namesake of UCLA's Anderson School of Business, the result of $15 million donation in 1987. Son of Minneapolis barber, received B.A. in business administration at UCLA on hockey scholarship. Went to Harvard for MBA; 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. Named the Business Journal's 2003 Man of the Year. GARY MICHELSON Net Worth: $1.4 billion Last Year: Not on list Age: 56 Residence: Los Angeles Source of Wealth: Surgical devices Background: Spinal surgeon and inventor won a $1.35 billion settlement from Medtronic Inc. in April, ending four-year patent dispute. Michelson invented medical devices that advanced back surgery techniques, allowed for less invasive procedures and improved healing times. Philadelphia native, came to L.A. in 1980. Went into spinal surgery because grandmother suffered from rare spinal condition. Worked at Centinela Hospital Medical Center while developing surgical instruments on side. Holds 600 U.S. and foreign patents for inventions. Founded Karlin Technology Inc. to manufacture devices, which at one time brought $3 million in revenues. Medtronic lawsuit stemmed from licensing disagreement between Karlin Technology and Medtronic subsidiary. Company sued Michelson in 2001 for exclusive fights to Karlin inventions, Michelson claimed Medtronic breached contract. Michelson poured $60 million into lawsuit. Settlement gives Medtronic ownership of more than 100 Michelson U.S. patents and 110 pending U.S. patent applications. Medtronic also gets exclusive rights to Michelson's future spinal inventions for next 15 years. Michelson plans to start medical research foundation with $200 million of the settlement. FREDERICK W. "TED" FIELD Net Worth: $1.4 billion [up arrow] 16.7% Last Year: $1.2 billion Age: 52 Residence: Beverly Hills Source of Wealth: Inheritance, entertainment Background: Made his money the old-fashioned way: wrestling with half-brother in court over inheritance of dad's Marshall Field & Co. department store fortune. Founded Interscope Records; sold it to Universal for $330 million. Was brought on to head ArtistDirect Inc. and turn dot-com into traditional music company, but it lost $45 million and continues to lose amid competition from major labels. Resigned, but remains head of ArtistDirect Records and Radar Pictures and Radar Records. Executive producer of films for Radar Pictures, including "The Last Samurai" and "Chronicles of Riddick." Recent films, including "Son of the Mask," a sequel to hugely successful "The Mask," have flopped, but "Amityville Horror" remake appears successful in box office and reviews. Member of President's Committee of American Civil Liberties Union American Civil Liberties Union (ACLU), nonpartisan organization devoted to the preservation and extension of the basic rights set forth in the U.S. Constitution. ; donated $25,000 to Democratic National Committee in 2004 election cycle. Divorced three times, has nurtured a playboy-type image around town. 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: $1.4 billion [up arrow] 16.7% 2Last Year: $1.2 billion Age: 78 Residence: Los Angeles Source of Wealth: Inheritance, media DAVID HEARST JR. Net Worth: $1.4 billion [up arrow] 16.7% Last Year: $1.2 billion Age: 60 Residence: Beverly Hills Source of Wealth: Inheritance, media Background: Iconic media family did well last year, despite stake in lagging newspaper industry. Hearst Corp.'s 20 percent interest in growing ESPN ESPN Entertainment and Sports Programming Network is paying off, and it owns a variety of strongly performing media titles. Hearst Magazines includes Cosmopolitan, Good Housekeeping, Harpers Bazaar and O, Oprah Winfrey's monthly. Also has SmartMoney, which is jointly owned with Dow Jones & Co. Television and cable holdings include Lifetime Television, which it owns jointly with Walt Disney Co. Cousins are heirs to the fortune built by their grandfather, media tycoon William Randolph Hearst, and great-grandfather, gold and silver mine owner George Hearst. Family reached resolution last year on future of 82,000-acre San Simeon estate. Some limited development will be allowed, but most of the property will be preserved. Hearst cousins William Randolph II and Patty filed suit in April to unseal the will of the family trust, citing suspicions of how the 13-member board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. has been administering the funds. Board is made up of five family members and eight company executives. Details of trust have been kept secret since Patty's 1974 kidnapping and ransom, in interest of family safety. GEORGE JOSEPH Net Worth: $1.2 billion [up arrow] 9.1% Last Year: $1.1 billion * Age: 83 Residence: Los Angeles Source of Wealth: Insurance Background: Shares of Mercury General are up 9 percent since last May. Joseph, who is chairman and chief executive, founded the company as Mercury Casualty Corp. in 1961 and took it public in 1985. Holds 35 percent of outstanding shares. Company increased annual dividend by 16 percent this year, despite first quarter hit from losses linked to record rainfall. Became third-largest auto insurer in California in 2003, with total assets of over $3 billion. Company is embroiled em·broil tr.v. em·broiled, em·broil·ing, em·broils 1. To involve in argument, contention, or hostile actions: "Avoid . . . in lawsuit alleging that Mercury defrauded customers through deceptive ads that misrepresented premiums by omitting broker fees. Harvard-educated numbers man, he completed degrees in math and physics in less than three years. Started career as actuarial trainee at Occidental Life, grew jealous of paychecks in sales department and subsequently became an entrepreneur. * Revised ALAN CASDEN Net Worth: $1.2 billion [up arrow] 9.1% Last Year: $1.1 billion * Age: 58 Residence: Beverly Hills Source of Wealth: Real estate Background: Mixed year for the real estate developer. Continues to be involved in six-year law suit with brother Henry, who sued to recover severance and unpaid dividends after leaving Alan's real estate company. Los Angeles City Ethics Commission fined Casden's associates after they pleaded no contest to laundering contributions to local politicians, including Jack Weiss. But Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. approved Casden's $300 million Westwood Village mixed-use project
last August despite local opposition. Project should be completed by the
end of 2006. Sold portfolio to Apartment Investment & Management Co.
(Aimco) in 2001 for $1.5 billion. Settled legal battle with Aimco for
$83 million, including $28 million out of Casden's pocket. Failed
bid to buy Dodgers from News Corp. in 2003. Former accountant got into
real estate in 1975. Helped start Simon Wiesenthai Center and its Museum
of Tolerance. Served as co-chairman for 25 years and still sits on
museum's board. Avid collector of ancient Jewish coins.* Revised LOUIS GONDA Net Worth: $1.2 billion [down arrow] 25% Last Year: $1.6 billion Age: 56 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Wealth dipped this year due to 25 percent dive in share price of embattled insurance giant AIG. Co-founded International Lease Finance Corp. with partners Steven Udvar-Hazy and father Leslie Gonda in 1973; sold to AIG in 1990. Founded Lexington Commercial Holdings real estate firm (a partner on two mixed-use projects in Beverly Hills involving luxury hotel and condominiums, office space and a public plaza). Entered entertainment business with Lexington Entertainment Group; established partnership with Miramax in 2003 to launch state-of-the-art facility providing high-end digital graphics and image editing. Owns Outpost Digital and Post Logic Studios. Started venture capital fund Lexington Ventures LLC, with $150 million in 2000. Also owns stakes in technology company Advanced Remote Communications Solutions and StorAmerica, a national chain of self-storage units. Born in Venezuela. LESLIE GONDA Net Worth: $1.1 billion [down arrow] 21.4% Last Year: $1.4 billion Age: 85 Residence: Beverly Hills Source of Wealth: Aircraft leasing Background: Sitting on American International Group stock has been costly for Gonda. He owns more than 19 million shares of the embattled insurance giant, which has taken a beating due to accounting questions centered on its former chairman, Hank Greenberg. Founded International Lease Finance Corp. with son Louis and friend Steven Udvar-Hazy in 1973 with $1.7 million bank loan and $150,000. Sold it to AIG for stock in 1990. Retired as AIG director in 2003 and gives heavily to philanthropic causes through the Leslie and Susan Gonda (Goldschmied) Foundation, formed in 1988. Supports Ben-Gurion University and Bar-Ilan University in Israel, UCLA, Mayo Clinic and City of Hope, for research in diabetes, neuroscience and genetics. Born in Hungary, survived the Holocaust, went to Venezuela after World War II. Later came to United States. 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: $1.1 billion [up arrow] 10% Last Year: $1 billion Age: 75 Residence: Toluca Lake Source of Wealth: Inheritance, Entertainment Background: Nephew of Walt Disney has become dissident shareholder over past two years. After resigning as director in 2004--he claimed he was ousted for opposing then-Chairman and Chief Executive Michael Eisner--he led the shareholder rebellion that stripped Eisner of his chairman's title. "Save Disney" campaign succeeded in garnering 40 percent vote of no-confidence against Eisner at the last annual meeting, which likely led to Eisner's decision to step down later this year. Sued company, Eisner and six current board members for misleading shareholders about search process for new CEO. Eisner's handpicked successor, President and 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. Robert Iger, got board's nod. Disney's suit seeks to void the appointment, claiming company was obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to conduct a more rigorous outside search. Disney stock has appreciated modestly this year; he inherited large chunk of Disney shares currently valued at more than $450 million. Chairman of investment company Shamrock Holdings Inc., with estimated $2 billion under management. Avid sailor, he spends 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. racing his 77-foot yacht. Owns 747 aircraft and castle in Ireland. ALEC GORES Net Worth: $1.1 billion [down arrow] 8.3% Last Year: $1.2 billion Age: 52 Residence: Beverly Hills Source of Wealth: Leveraged buyouts Background: Primary vehicle Gores Technology Group maintains pace by acquiring two to three tech and telecommunications companies a year; typically assumes full ownership of companies with $10 million to $1 billion revenues and then either sells them or takes them public. Withdrew initial public offering of Gores Investment Group filed a year ago, but made more than $100 million on public offering of Verifone credit card processing company. Highly competitive brothers Alec and Tom worked together until Tom formed Platinum Equity in 1995; unsuccessfully bid together for assets of Global Crossing Ltd. in 2002. Alec made it big with 2002 acquisition of educational software developer Learning Co. from Mattel Inc. for no cash and a share of future profits. Sold business a year later to Riverdeep Group Plc for $40 million in stock and $20 million in debt. Founded company in the late 1980s after selling off computer systems business he had started in his father's basement. DONALD STERLING Net Worth: $1.1 billion [up arrow] 15.9% Last Year: $949 million Age: 71 Residence: Beverly Hills Source of Wealth: Real estate Background: Owns Los Angeles Clippers and nearly 100 apartment buildings in Southern California. Owns 116-room Beverly Hills Plaza Hotel and Art Deco building on Wilshire Boulevard that is largely empty, except for office of his Donald Sterling Corp. Lost suit last year over alleged discrimination against blacks and Latinos under the Fair Housing Act by using "Korean" in property names. (Wife Rochelle was caught on tape impersonating health official to gain access to tenant apartments to determine ethnicity, according to court documents.) Was separately ordered to pay $30,000 for refusing to disclose his net worth in the lawsuit. In an unrelated lawsuit, testified in graphic detail about repeatedly paying to have sex with a woman, whom he sued. ("It was purely sex for money, money for sex, sex for money, money for sex," he said in a deposition.) Bought Clippers in 1981 for $12.5 million, now worth about $224 million according to Forbes; despite the team's tendency to lose, it is one of most profitable in the NBA because of low payroll. Has helped Sterling earn cheapskate cheap·skate n. Slang A stingy person; a miser. cheapskate Noun Informal a miserly person Noun 1. reputation. 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: $1 billion [up arrow] 17.6% Last Year: $850 million Age: 58 Residence: Los Angeles Source of Wealth: Investments Background: Involved in philanthropy since the early 1970s, Milken has donated $750 million personally and through foundations to medical and education programs. 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. (He has lost 10 family members to cancer). Founded think tank FasterCures/The Center for Accelerating Medical Solutions in 2003 to shorten time to find cures and improve treatment for diseases through economic incentives and regulatory efficiencies. Passive investor. Holding company Krest LLC (formerly Knowledge Universe), has taken a hit on LeapFrog Enterprises stock, which is down 50 percent from last year, but other investments have grown. Graduated from UC Berkeley as an undergraduate and Wharton with an M.B.A. 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, popularizing the notion that risky debt securities would be less volatile if investors purchased them from many issuers. After junk bond market collapsed in the late 1980s, Milken was indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. on securities fraud. Pleaded guilty to six felony counts, served 22 months in prison and paid $200 million in fines. Presents 100 outstanding teachers a year with a $25,000 check to recognize their work. WILLIAM BARRON HILTON Net Worth: $1 billion [up arrow] 38.9% Last Year: $720 million Age: 77 Residence: Holmby Hills Source of Wealth: Hotels Background: Revival in business travel and pending purchase of Caesars Entertainment by Harrah's Entertainment has pushed up the wealth of the Hilton Hotel chairman. Joined family business in 1954 as vice president. Won court battle for inheritance of controlling shares. Took Hilton into Nevada gaming with 1970 purchase of Las Vegas Hilton The Las Vegas Hilton is a hotel, casino, and convention center in Las Vegas, Nevada. It is a joint venture between Colony Capital, which owns 60 percent, and New York City-based REIT Whitehall Street Real Estate Funds, which owns the remaining 40 percent. and Flamingo Hilton, making it first Fortune 500 company in casinos. Owns big personal stake in Caesars. Texas native was Navy photographer-in World War II. Started pro football Los Angeles Chargers in 1960, later moved them to San Diego. First acquisition in 1965 was L.A.-based Vita-Pakt Citrus Products. Aviation enthusiast has half-million acre Flying M Ranch, one of world's premiere competition glider spots. Hilton's personal fleet includes helicopters, stunt planes, a private jet, sailplanes and hot air balloons. Owns duck hunting lodge in California delta. Has donated $1.5 million to found Conrad Hilton College of Hotel & Restaurant Management at University of Houston. STEPHEN L. BING & FAMILY Net Worth: $1 billion Last Year: Not on list Age: 40 Residence: Beverly Hills Source of Wealth: Inheritance, real estate Background: Heir to more than $600 million real estate fortune built by grandfather Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Bing, a developer of high-end apartments in the 1920s 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 . Father, Dr. Peter Bing, worked on public health policy in the Johnson White House before heading back to real estate in L.A. Bing's production company, Shangri-La Entertainment LLC, co-produced the 2004 Tom Hanks movie "Polar Express." Despite efforts at keeping private, Bing has earned a reputation as an international playboy. Fathered a child with supermodel Elizabeth Hurley in 2002. Chrysler baron Kirk Kerkorian in 2001 accused Bing of fathering a child with ex-wife; dispute was settled. Family has always been prolific givers: Leo S. Bing Theater at the Los Angeles County Museum of Art, endowment for Bing Research Fellowship at the Hoover Institution, Stanford University's Bing Nursery School and the Bing wing of Stanford's library, where Bing's father served as chairman of the board of trustees. Stephen Bing dropped out of Stanford after selling a screenplay his junior year. Typically donates anonymously; gave $16 million to Democratic candidates and causes in 2004. Also donated at least $4 million to Republicans in California. Pledged $10 million to the National Resources Defense Council's study of global warming. JEFFREY KATZENSERG Net Worth: $942 million [up arrow] 17.8% Last Year: $800 million Age: 54 Residence: Beverly Hills Source of Wealth: Entertainment Background: DreamWorks Animation SKG Inc.'s chief executive saw his net worth increase with company's initial public offering. DreamWorks scored with second installment of the "Shrek" franchise, which helped contribute to $1 billion in revenue in 2004, more than triple 2003. Plans to release two computer-animated films a year, including "Shrek 3" in 2007. Grew up on Park Avenue; lame-duck Disney Chief Executive Michael Eisner was a childhood friend. Started entertainment career in 1975 as an assistant to Barry Diller at Paramount Pictures and moved up through the ranks. Head of feature production at Disney from 1984-1994. Left after falling-out with Eisner and battled in court for unpaid compensation, winning $250 million. Co-founded DreamWorks SKG with Geffen and Spielberg in 1994. The publicly held animation unit took a hit after reporting disappointing "Shrek" home video sales. Katzenberg co-produced reality boxing show "The Contender" on 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. . Democratic supporter, gave to Edwards, Clark, Gephardt and Kerry. STEWART RESNICK Net Worth: $890 million [up arrow] 50.8% Last Year: $590 Age: 67 Residence: Beverly Hills Background: Pomegranates have been sweet for Resnick and his Roll International Corp. holding company. Began buying up pomegranate pomegranate (pŏm`grănĭt, pŏm`ə–), handsome deciduous and somewhat thorny large shrub or small tree (Punica granatum groves a few years ago and now Roll is making a splash in the marketplace with it POM Wonderful brand juice. Roll also made big play in the bottled water industry, buying Fiji Water, the sector's second largest importer. Franklin Mint is Roll's biggest operation; rebounded after two difficult years in collectible industry that forced mint to reduce staff to fewer than 50 and focus on Internet and wholesale business. Also has floral delivery service Teleflora and pistachio pistachio (pĭstăsh`ēō, pĭstä`shēō), tree or shrub (of the genus Pistacia) of the family Anacardiaceae (sumac family). The species that yields the pistachio nut of commerce is P. and almond producers. Started out as lawyer who worked his way through law school by running janitorial business. Founded Roll with wife Lynda. Avid art collector of French and Italian works from the 17th and 18th centuries. Active Democrat who donated heavily in last presidential election cycle presidential election cycle The tendency of the stock market to move in four-year cycles with rising markets occurring during the period before presidential elections. . TOM WERNER Net Worth: $852 million [up arrow] 21.7% Last year: $700 million * Age: 55 Residence: Pacific Palisades Source of Wealth: Entertainment Background: Production power duo with partner Marcy Carsey. Their $1.2-billion-firm is once again named Carsey-Werner since partner Caryn Mandabach left late last year. Will remain biggest independent TV production house after the pair decided not to sell out after flirtation with buyers. Duo created sitcom blockbusters "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. ." Have two new shows in production and will soon begin production of first feature film. Outside interest in baseball paying off big: Chairman of 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. , which he bought with former Florida Marlins owner John Henry in 1999 for $700 million. Raised team payroll to second-highest level in Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. , improved Fenway Park, raised ticket prices. Still, the Sox sold out every game last year. Team won World Series, breaking 84-year curse. Franchise valued by Forbes at $563 million, but that was before team won the series. Purchase price included cable television network and other moneymaking ancillary assets. "Today" show anchor Katie Couric is sometimes girlfriend. * Revised LOWELL J. MILKEN Net Worth: $800 million [up arrow] 19.4% Last Year: $670 million Age: 56 Residence: Los Angeles Source of Wealth: Investments Background: Chairman of Milken Family Foundation Milken Family Foundation is a charity trust established by Lowell Milken and Michael Milken in 1982. External links
JOHN TU Net Worth: $800 million [up arrow] 33.3% Last Year: $600 million Age: 64 Residence: Rolling Hills Source of Wealth: Computers Background: Strong year for the co-founder of Orange County computer memory maker Kingston Technology Co. Revenues were up by about a third, topping $2.4 billion. Founded the company with friend David Sun. Partners made fortune by selling 80 percent of Kingston to Japan's Softbank Corp. for $1.5 billion in 1996. Tu then handed out $100 million in employee bonuses. Three years later, the pair bought Kingston back for a song--$450 million. Tu and Sun are still equal partners. Lives in Rolling Hills and commutes to the office in Fountain Valley. Born in China and moved to the U.S. in 1972. Married with two children, Tu is an avid Elvis fan who plays drums in his own band with professional musicians. Has an electrical engineering degree from Technische Hochschule Darmstadt in Germany. GUILFORD GLAZER Net Worth: $733 million [up arrow] 21.2% Last Year: $605 million Age: 83 Residence: Beverly Hills Source of Wealth: Real estate Background: Real estate portfolio has appreciated, benefiting from hot market. Built large multi-state mall and apartment portfolio, starting in 1950 with apartment building for his mother. Developed nation's second largest mall, 2.1-million-square-foot 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. , in 1961; sold it two years ago for $442 million to Mills Corp. Still active through primary investment vehicle Torrance Co. Son of a welder, native of Tennessee, dropped out of college to serve in World War II following Pearl Harbor (no relation to Malcolm, who just bought the Manchester United soccer team). Proponent of economic development in order to achieve Jewish/Palestinian peace; last year 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; initiated and largely funded a $2-million Rand Corp. study this year on rebuilding Palestinian public transportation infrastructure. ROBERT PETERSEN Net Worth: $716 million [up arrow] 11.5% Last Year: $642 million Age: 78 Residence: Beverly Hills Source of Wealth: Publishing Background: Sold his 19,000-acre La Panza ranch near Paso Robles Robles is a common surname in the Spanish language meaning oaks, and may refer to:
AUBREY CHERNICK Net Worth: $705 million [up arrow] 10% Last Year: $641 million Age: 56 Residence: Los Angeles Source of Wealth: Software Background: Chernick and International Business Machines Corp. were made for each other. Founded closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. Candle Corp. in 1976, developing software to monitor IBM mainframe systems; grew to 2,000 employees. Completed sale of closely held Candle to 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) Corp. a year ago for $641 million. Candle's products are in place at 75 percent of Fortune 500 companies, including Coca-Cola, Ford and McDonald's, although the company lost money for years because of the declining mainframe market. Hundreds of employees laid off by Chernick in 2001 have started receiving checks for $1,000 for every year worked at Candle; remaining 800 employees work for IBM but Chernick is expected to exit Big Blue soon. L.A. native grew up in Canada, got chemistry degree from University of Manitoba Location The main Fort Garry campus is a complex on the Red River in south Winnipeg. It has an area of 2.74 square kilometres. More than 60 major buildings support the teaching and research programs of the university. . As student, he developed software for Manitoba government. Started Candle after being inspired by a fortune cookie. Began Candle Foundation in 1982 to aid medical research, hunger and homelessness. NEIL NEIL Nuclear Electric Insurance Limited NEIL Network Engineering and Integration Lab KADISHA Net Worth: $702 million [up arrow] 18% Last Year: $595 million Age: 49 Residence: Beverly Hills Source of Wealth: Telecommunications, investments Background: Merged satellite-communications company Omninet with Qualcomm in 1988. Primary source of wealth is in Qualcomm shares, which split in August 2004; now owns about 14 million. Stock has risen over the year, but remains significantly off January 2000 peak. Retired from Qualcomm board in 2000. Chief executive of investment firm Omninet Capital LLC in Beverly Hills. Involved in real estate, private equity and venture capital, focusing on wireless communications. Majority shareholder in Sky Las Vegas, $325 condominium project on Las Vegas Strip that broke ground this year. Active in Jewish community; on board of Jewish Federation of Greater Los Angeles. Donates locally and to Israeli causes ranging from homeless teenagers and abused children to school systems. PETER LOWY Net Worth: $700 million Last Year: Not on list Age: 46 Residence: Los Angeles Source of Wealth: Real estate Background: Son of Frank Lowy, whose Australian real estate firm, Westfield Group, has interests in 127 shopping centers in Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , the U.K and the United States, (including several in Southern California). Serves as managing director of Westfield's U.S. operations. Actual share of family's estimated $2.8 billion fortune is unclear because most of it is jointly owned with father and two brothers. Westfield America Inc. paid $420 million in April 2001 as part of developer Larry Silverstein's $3.2 billion bid for a 99-year lease on the World Trade Center. Westfield gained the rights to manage the center beneath the complex, but it was destroyed five months later in the 2001 terrorist attacks. (Insurance reimbursed the Silverstein group for its losses and it kept development rights.) Westfield sold its interest in the World Trade Center to the New York Port Authority in 2003 to simplify the rebuilding process, but retains right of first offer should the Port Authority seek to bring in a third party. Family removed $375 million of equity from the company in 1998 to establish a private nest egg Nest Egg A special sum of money saved or invested for one specific future purpose. Notes: Examples of the purposes for which nest eggs are usually intended include retirement, education, and even entertainment (vacations and cruises). . Serves as chairman of the University of Judaism. MARCY CARSEY Net Worth: $660 million [up arrow] 10.6% Last Year: $597 million Age: 60 Residence: Brentwood Source of Wealth: Entertainment Background: Caryn Mandabach left Carsey's production company last year and it's now just her and partner Tom Werner again; name changed back to Carsey-Werner. Flirted with selling out but decided against it. New reality show "The Scholar" has nation's best high school students competing in "sudden death" oral exams for $250,000 scholarship donated by Eli Broad. Past hits include "Cosby Show," "Roseanne," and "That '70s Show." Started female-focused Oxygen cable channel with Mandabach and Oprah Winfrey. Made waves with $1 million donation to campaign to defeat President Bush. Has turned attention to education, donating $2.5 million last year to UC Santa Barbara for new Center for Film, Television and New Media; also gives to alma mater University of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . Scaled corporate ladder from NBC studio tour guide to senior vice president at 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. . Started Carsey-Werner studio in 1981 with Werner. Was ranked 34th on Hollywood Reporter's 100 most powerful women in Hollywood last year. MICHAEL EISNER Net Worth: $621 million [up arrow] 8.9% Last Year: $570 million Age: 63 Residence: Hollywood Hills Source of Wealth: Entertainment Background: Eisner had tough year, losing Disney's chief executive post amid a shareholder revolt. Plans to step down in September, earlier than expected. Hand-picked Robert Iger as successor. But he's not leaving poor, given 14 million shares of Disney stock that rose more than 20 percent over past year. Credited with turning around company during 20-year tenure. Built theme parks overseas and developed incredibly profitable relationship with Pixar, producing "Finding Nemo" and other computer-animated hits. Roundly criticized after Pixar exec Steve Jobs broke off contract talks with Disney on renewing partnership. Developed lucrative partnership with Miramax film founders Harvey and Bob Weinstein ("Shakespeare in Love," etc.) that also broke off. Bought and then sold championship Anaheim Angels to Phoenix businessman Arturo Moreno for $180 million in 2003. Stumbles started with $20 billion acquisition of Capital Cities/ABC in 1996, though network has lately picked up steam with "Desperate Housewives." Cal State Northridge renamed College of Education for Eisner after a $7 million donation by the Eisner Foundation. Grew up in New York, started career as clerk at NBC, went to CBS, then got a job in programming at ABC. After eight years as president of Paramount Pictures, was named chairman and CEO of Disney. Future plans unclear. Preparing the List How does the Business Journal figure out how much money L.A.'s wealthiest residents have? We start by asking them. Each candidate--those who made it last year, almost made it or who float into our field of vision--is sent a questionnaire asking them to detail their holdings, net of debt. Business Journal reporters go over any information returned, ask questions and make adjustments, if necessary. There also is heavy use of Securities and Exchange Commission filings, other public documents and estimates from experts and other media reports. For those who derive most of their wealth from holdings in publicly held companies, it's relatively easy to document net worth. It's harder for those with holdings in private companies, especially if the subject is not talking. That's where interviews and, sometimes, best estimates come in. If a person's wealth can't be confidently determined to be above the threshold--this year more than $600 million--they are not included on the list. Miscellaneous Assets Values used to calculate some of the holdings of L.A.'s richest. One acre of orange grove in the San Joaquin Valley $10,000 Annual yield per acre of pomegranate orchard 5.76 tons One ton of pomegranates, wholesale $934 Collection of ancient coins $40 million Jackson Pollock painting $52 million One-time cash dividend, tax-free (Metro-Goldwyn-Mayer) $1.4 billion Used Gulfstream IV private jet (1993, low mileage, leather interior) $22.3 million Hot air balloon $2,000 Bionic ear implant to treat nerve deafness $60,000 Smith & Wesson .44-caliber revolver (dented) believed used to kill outlaw Jesse James $300,000 Arabian Stallion with pedigree (12 years old) $1,200 Arabian Stallion stud fee $450 Boston Red Sox (before winning World Series) $563 million Court-imposed penalty for refusing to disclose net worth $30,000 |
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