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Seven figures, 10 figures. (Rich in L.A.).


L.A.'s very rich have taken a slight breather. The cumulative net worth of the 50 wealthiest residents of 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.  grew only 1.3 percent from 2001, to $76 billion, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 the annual Business Journal survey. A year ago, the cumulative gain from 2000 was a whopping 20 percent, reflecting a then still-decent economy and stock market.

Again topping the list is 84-year-old financier 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 , with a net worth estimated at $8 billion. He's followed by oil magnate 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 , at $6.4 billion, and investor/philanthropist 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.
, at $6.3 billion. But the numbers would not impress Wall Street: while Kerkorian's net worth rose 6.7 percent from a year ago, Davis only saw a 1.6 percent increase and Broad suffered a 3.1 percent drop--mostly stock market related.

While the Business Journal 50 is cooling its collective heels, there's been movement at the other end of the affluent food chain: a jump in L.A. pentamillionaires (those with a net worth of more than $5 million).

As this week's 28-page Rich In L.A. section demonstrates, much of that commonplace wealth is still drawing from middle class sensibilities.

Section begins on page 21; the list of wealthiest Angelenos starts on page 41.
COPYRIGHT 2002 CBJ, L.P.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Kirk Kerkorian is Los Angeles's wealthiest resident
Comment:Seven figures, 10 figures. (Rich in L.A.).(Kirk Kerkorian is Los Angeles's wealthiest resident)
Publication:Los Angeles Business Journal
Article Type:Brief Article
Geographic Code:1USA
Date:May 27, 2002
Words:210
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