PROFILES—Background and Latest Buzz on L.A.’s Richest People

0



Kirk Kerkorian


Net Worth:

$7.5 billion


Last Year:

Not on list


Age:

83


Residence:

Beverly Hills


Source of Wealth:

Airlines,

automobiles, entertainment


Background:

Fresno-born son of Armenian immigrants Self-made multibillionaire Began amassing fortune at age of nine by selling newspapers and hustling odd jobs Dropped out of eighth grade to become amateur boxer Nicknamed “Rifle Right Kerkorian” Eventually became Pacific amateur welterweight champion Opted to pursue commercial pilot’s license instead of professional boxing career Flew “suicide missions” out of Montreal for the Royal Air Force during World War II In ’47, purchased Los Angeles Air Service, a small charter line Changed name to Trans International Airlines and took company public in ’65… In ’68, sold company and walked away with about $85 million First began buying stock in MGM Studios in ’69. Has bought and sold controlling interest in MGM two times since then In the early ’90s, began buying shares of Chrysler Corp. stock Original investment of $1.5 billion exploded to $5 billion when Daimler-Benz agreed to buy Chrysler in ’99.


Money Track:

Currently owns 82.2 percent of Metro-Goldwyn-Mayer Inc., in addition to 58.5 percent of MGM Mirage casino Early this year, dumped about 16 million shares of DaimlerChrysler AG stock, collecting about $672 million Maintains approximately 17 million shares of DaimlerChrysler, or 1.7 percent of the company Is locked in bitter lawsuit filed against the German-American company for $8 billion, claiming that Daimler-Benz deceived investors and that the 1999 deal between the two companies was not “a merger of equals.”


Buzz:

Spends much of his time hopping between Los Angeles and Las Vegas in his private 747 which includes, among other amenities, a personal gym Despite advanced age, showing no signs of losing steam Avid tennis player Was more than a bit flustered by DaimlerChrysler Chairman Juergen Schrempp’s assertion that a “merger of equals” was never his intent in Chrysler deal Began planning lawsuit filing almost immediately after reading Schrempp’s comments in Oct. 30, 2000 article in the Financial Times Since then, a series of copycat class-action suits have been filed.


Eli Broad


Net Worth:

$6.5 billion s18.2%


Last Year:

$5.5 billion


Age:

66


Residence: Brentwood


Source of Wealth:

Homebuilding,

financial services


Background:

Became a millionaire before age of 30 by co-founding Kaufman & Broad Home Corp., recently renamed KB Home and one of the nation’s largest residential developers Parlayed that success into the founding of financial services giant SunAmerica Inc Sold that company to insurance giant American International Group in 1998 Retired as CEO last year Now has new career as “venture philanthropist,” earmarking considerable portions of his wealth for new civic-oriented philanthropic programs Big mover and shaker in Democratic circles and in local civic affairs Close with L.A. Mayor Richard Riordan, with whom he frequently vacations Broke with him, however, in not backing Steve Soboroff for mayor, Riordan’s personal choice to succeed him Avidly backing former Assembly Speaker Antonio Villaraigosa in his mayoral bid Calls Villaraigosa a “leader and bridge-builder who will follow Riordan’s agenda.”


Money Track:

Made millions by selling low-cost homes to baby boomers through Kaufman & Broad Went on to sell financial retirement plans to that same group through SunAmerica Inc . Cleaned up thanks to that company’s stock After sale of SunAmerica to American Insurance Group Inc., $1.6 billion in SunAmerica stock was converted to AIG stock His AIG holdings have since doubled in value to $3.2 billion Still has real estate holdings. Sizeable modern art collection, which includes works by Andy Warhol and Roy Lichtenstein Collection’s value has increased 40 percent over the past 12 months, to $325 million… Has private museum in Santa Monica to showcase collection.


Buzz:

Has made waves in education circles with his Broad Foundation Was started with a $100 million endowment in 1999 to improve the governance and management/labor relations at school districts across the country Announced last month $10 million for local school reform efforts Advises new L.A. school superintendent Roy Romer Making big push into biomedical field with $23 million contribution for Broad Center for Biological Sciences at Caltech Considering other biomedical ventures Driving force behind largely successful Democratic National Convention at Staples Center last summer Not able to fully deliver on pledge to make convention primarily privately funded Host committee which he-co-chaired fell short in fundraising and had to seek $4 million in city funding Leading visionary behind concept of downtown Grand Avenue cultural corridor, with linchpin of Disney Concert Hall that he rescued from oblivion.


Marvin Davis


Net Worth:

$6.3 billion s28.6%


Last Year:

$4.9 billion


Age:

75


Source of Wealth:

Oil, real estate, entertainment, gaming


Background:

Self made Born in grubby Lower East Side neighborhood of Manhattan. Headed out West to make mark Scored first million drilling oil Made big name for himself in Denver Established Charity for Hope ball after daughter diagnosed with diabetes Stars attend, providing crucial Hollywood contacts… Relocates to L.A. in 1980s with purchase of 20th Century Fox Unloads studio to Rupert Murdoch but keeps famed Pebble Beach golf course Sells course in 1990 to Japanese investors for $841 million, just as market is peaking Impeccable market timing Also makes big money on Aspen resort, another studio property sold independently Buys and sells Beverly Hills Hotel Made failed $6.2 billion bid for United Airlines in 1990.


Money Track:

Has Midas touch Back drilling again in Louisiana, Texas and the Rockies, claiming biggest year ever Son, Greg, is hands-on guy at Davis Petroleum Company staffed up in Houston and Denver, taking advantage of 10-year high in oil prices and huge spike in natural gas prices Back in L.A., made a reported $80 million-plus profit last year by selling Fox Plaza to Irvine Co. for $350 million That was second time he profited from selling that building Was one of the building’s original developers in ’86 before selling out back then Has encountered some hurdles Couldn’t get hands on Bank of America Center in San Francisco when owner pulled it off market Gaming ventures going bust Bid to buy Desert Inn fizzled Backed out of Missouri casino project Involved in lawsuit over Illinois project Now shifting gaze to the Twin Cities for possible casino Despite gaming disappointments, still way ahead with oil wealth.


Buzz:

With wife, Barbara, rules L.A. society scene Throws Hollywood parties left and right Biennial Carousel Ball biggest social event in town outside of Oscars Everyone who’s anyone goes… Ricky Martin provided up the loca entertainment last year Snubbed when President Clinton backed out No-show particularly prickly since Davis had plunked down big bucks for Hillary’s U.S. Senate campaign Wife Barbara now threatening to go GOP Probably won’t matter With the oil experience, Davis says he has known Dubya since the younger Bush was a kid Biggest disappointment past 12 months? Closure of the original Spago, where Davis held court at center table for years But no tears for Davis The new Spago is closer to his home.


David Geffen


Net Worth:

$3.3 billion s17.9%


Last Year:

$2.8 billion


Age:

58


Residence:


Source of Wealth:

Entertainment


Background:

Brooklyn College dropout in the early ’60s Got a job in the mail room of the William Morris Talent Agency by saying he had a degree from UCLA Entered music business by managing singer/songwriter Laura Nyro in the late ’60s In the ’70s, founded Asylum Records, stoking the careers of Joni Mitchell, Jackson Browne and the Eagles In the ’80s, founded Geffen Records and produced such movies as “Risky Business,” “Beetlejuice” and the Broadway blockbusters “Cats” and “Dreamgirls” Sold Geffen Records to MCA Records in 1990 In 1994, co-founded film studio DreamWorks SKG with Steven Spielberg and Jeffrey Katzenberg Currently running company’s records division.


Money Track:

Entered the top-tier of L.A.’s wealthiest Angelenos by selling his record company to MCA for $550 million Before that, made a bundle by building and selling his record label and producing movies In 1990, bought film mogul Jack Warner’s Beverly Hills estate for $47.5 million Owns one-third of DreamWorks SKG Company has a total estimated value of more than $3 billion.


Buzz:

Weathered the brouhaha last year from unauthorized biography called “The Operator” by Wall Street Journal reporter Tom King Book made the Los Angeles Times list of bestsellers It recounted Geffen’s affair with pop star Cher before he went public with his homosexuality in ’93 Major contributor to Democratic Party With Eli Broad and Ron Burkle, one of the local co-chairmen of the Democratic National Convention in Los Angeles last August Brother Mitch says Geffen has “an uncanny sense of what the public likes. He’s just a genius.”


A. Jerrold Perenchio


Net Worth:

$2.8 billion s12%


Last Year:

$2.5 billion


Age:

70


Residence:

Beverly Hills


Source of Wealth:

Entertainment, media


Background:

Son of a vintner from Fresno A former Hollywood talent agent schooled by Lew Wasserman at MCA Became multimillionaire in ’86 when he and Norman Lear sold their Embassy Communications to Coca-Cola for $485 million Teamed with Mexico’s Televisa and Venezuelan TV company Venevision to buy Univision Communications Inc. in ’92 for $550 million Contributed about $34 million to the deal… Is now chairman and controlling shareholder of Univision, the nation’s largest Spanish-language broadcast television network Lives in $20 million Bel-Air estate made famous for its use in the “Beverly Hillbillies” TV sitcom.


Money Track:

Value of his stake in Univision fell slightly last year, following an August 2-for-1 stock split… Stock had soared past $100 a share in recent years, as company capitalized on nation’s growing Latino market… Value backed off to about $40 a share recently, taking value of his stake from $2.2 billion to about $1.8 billion Univision’s annual revenues now exceed $1 billion, up from less than $250 million five years ago Last month, Univision launched music division in bid to be player in rapidly growing Latino music sector Has extensive real estate holdings in Malibu and elsewhere on the Westside.


Buzz:

A boxer in his youth Got involved in promoting championship boxing bouts and other big-time sporting events in the ’70s, including the famed Bobby Riggs vs. Billie Jean King tennis match Returned to boxing promotion 25 years later Last year, signed up one of boxing’s best-known names, Oscar De La Hoya An active Republican One of California’s biggest political donors Famous for playing both sides of the political fence Contributed at least $235,000 to Gov. Gray Davis during last gubernatorial election cycle and $507,000 to George W. Bush and the Republican Party during the last presidential election cycle… Previously, poured $1.5 million into campaign on behalf of Proposition 227, the successful state ballot measure ending bilingual education in schools Backed the only Republican in L.A.’s mayoral race, real estate broker Steve Soboroff Gave $10,000 indirectly to Soboroff campaign through the state Republican Party… last week, announced the planning of a second national Spanish-lanquage tv network.


Steven Ferencz


Udvar-Hazy


Net Worth:

$2.7 billion s17.4%


Last Year:

$2.3 billlion


Age:

54


Residence:


Source of Wealth:

Aircraft leasing


Background:

Flight aficionado Studied airline industry at UCLA Founded International Lease Finance Corp. in ’73 with Louis and Leslie Gonda Each partner contributed $50,000 First deal was lease of a DC-8 to the Mexican government, largely financed by a $1.7 million bank loan… ILFC has become world’s leading commercial aircraft lessor Has fleet of more than 500 planes… Sold company to insurance giant American International Group in ’90 Like fellow ILFC co-founders, has enjoyed slight uptick in wealth due to AIG’s agreement this month to buy American General Corp. for $24.6 billion.


Money Track:

Holds 30.6 million shares of AIG after a stock swap last year Leasing company churned out record earnings of $706 million on record revenues of $2.5 billion last year Recently placed first orders for Boeing’s new longer-range 747-400.


Buzz:

No man-about-town Too busy running ILFC, where he shows no signs of letting go of reins Family man with four children Foundation established by him and his wife has given generously locally, including to the Harvard-Westlake School Gave $65 million to Smithsonian’s National Air and Space Museum for construction of a museum facility at Dulles Airport Scheduled to open in December 2003 on 100th anniversary of Wright Brothers first flight Facility will carry his name.


Ronald Burkle


Net Worth:

$2.2 billion s22.2%


Last Year:

$1.8 billion


Age:

48


Residence:

Beverly Hills


Source of Wealth:

Supermarkets, investments


Background:

Native of Claremont and son of an executive who worked for the Stater Bros. grocery chain Started out as supermarket box boy Ended up becoming one of the nation’s wealthiest supermarket moguls Built Ralphs chain into biggest supermarket group in L.A . Sold holdings to Kroger Co. in 1998 Retained ownership of about 4 percent of the stock Registered Republican, but savvy political power broker Plays both sides of fence Donated heavily to Gov. Gray Davis’ initial election bid and his current re-election fund Helped bring Democratic National Convention to L.A . Supports Democrat Antonio Villaraigosa for L.A. mayor.


Money Track:

Teamed up with his father and Berkshire Hathaway in the early ’80s in effort to buy Stater Bros., but they were rebuffed In ’86, formed investment vehicle Yucaipa Cos Has completed 16 mergers and acquisitions valued at $30 billion Among purchases: Jurgensen’s gourmet chain, Ralphs, Dominick’s Finer Foods In ’98, acquired Portland, Ore.-based Fred Meyer Inc., into which he folded several of his supermarket holdings Sold Yucaipa’s stake in Dominick’s to Safeway for $1.85 billion Sold Fred Meyer to Kroger for $13 billion Two deals boosted personal net worth to $1.8 billion in ’99 Dabbled in Internet ventures, including struggling file-sharing firm Scour Inc., which was sold last year to Centerspan Communications Corp . Returned to retail and distribution roots Invested $50 million for an 8.7 percent share in grocery distributor Fleming, which signed a major distribution deal with Kmart Corp . Bought 6 percent equity stake in Kmart, now valued at $180 million.


Buzz:

Contributed $1 million of his own money to Democratic National Convention host committee last year Raised another $2 million to $3 million Still needed to seek $4 million in public funds for event Indirectly contributed up to $100,000 to the Villaraigosa for L.A. mayor campaign through the state Democratic Party Gave $100,000 to underwrite a mayors’ conference in San Francisco, where one of his entities was seeking a contract to operate a marina Remains active on the sports front, even though his joint effort with Michael Ovitz to bring an NFL team to L.A. fizzled Invested $20 million in the Pittsburgh Penguins hockey franchise with hockey star Mario Lemieux Endowed Burkle Center for International Relations at UCLA Lives in Greenacres, the Beverly Hills estate formerly owned by silent screen star Harold Lloyd Holds frequent fundraisers there Estate is also used as international salon Former secretary of state George Schultz, former President Jimmy Carter and current U.N. Secretary General Kofi Annan have all spoken there.


Steven Spielberg


Net Worth:

$2.2 billion s10%


Last Year:

$2 billion


Age:


Residence:

Pacific Palisades


Source of Wealth:


Background:

Raised in suburbs of Haddonfield, N.J. and Tucson, Ariz . Started making amateur films while still in his teens Later studied film at California State University, Long Beach In 1969, his 22-minute short, “Amblin,” filmed on a $15,000 budget, was shown at the Atlanta Film Festival Became youngest director ever to be signed to long-term deal with a major Hollywood studio Made his feature film directorial debut in ’74 with a screenplay he co-wrote called “The Sugarland Express” Directed “Jaws” a year later, a major box-office success that opened up many Tinseltown doors Formed Amblin Entertainment in ’84 Film “Schindler’s List,” the story of Holocaust survivors, won him Oscars for best director and best picture.


Money Track:

Most of his celluloid endeavors have been huge hits, including “Close Encounters of the Third Kind,” “E.T.,” and “Raiders of the Lost Ark” In ’94, joined pals Jeffrey Katzenberg and David Geffen, with each putting in $33 million, to create a new Hollywood studio, DreamWorks SKG Six of his films including “E.T.,” “Jurassic Park” and “Raiders of the Lost Ark” are among top 25 highest-grossing films of all time “Saving Private Ryan” grossed more than $220 million Also has amassed a business empire that includes video games and toys Microsoft co-founder Paul Allen kicked in $500 million in 1995 for a 25 percent interest in DreamWorks SKG Company had revenues of more than $1 billion last year DreamWorks sold its interests in a $100 million video arcade business, GameWorks, in late 2000 to partners Sega Enterprises and Vivendi-Universal SA’s Universal Studios unit.


Buzz:

Former Eagle scout recently resigned from advisory board of Boy Scouts of America because organization excludes gays Says he will work to help the group end discrimination once and for all Getting ready to release “A.I.,” a summer flick for DreamWorks and Warner Bros. about artificial intelligence and robots that was the brainchild of director Stanley Kubrick Said to have exchanged 750 pages of notes for the movie with Kubrick before his death in 1999. “A.I.” is first directorial gig since 1998’s “Saving Private Ryan” It’s expected to pull in big money this summer. Louis Gonda goes between Spielberg & Winnick.


Louis Gonda


Net Worth:

$2.2 billion s46.7%


Last Year:

$1.5 billion


Age:

52


Residence:


Source of Wealth:


Background:

Venezuelan native Hungarian parents fled to South America after surviving the Holocaust… Emigrated to the United States with them and attended USC… Formed International Lease Finance Corp. in 1973, along with father, Leslie, and fellow Hungarian Steven Udvar-Hazy… Each of the three partners put up $50,000 Company is now the largest aircraft leasing firm in the world… ILFC went public in ’83 and was sold to American International Group in 1990.


Money Track:

Still sits on board of Century City-based ILFC, but is no longer actively involved in company operations Has turned his focus to real estate development through Lexington Commercial Holdings Struck a deal last year with prominent developer Jerry Snyder under which the pair will undertake six projects totaling $1 billion… Also formed Lexington Entertainment Group with Jeffrey Kramer, former president of David E. Kelley Productions… Company plans to make a handful of films each year, and also owns a digital post-production facility.


Buzz:

Has caught the Hollywood bug, presumably from his wife, Kelly, a former actress who has co-produced on the London stage… Has been dabbling in entertainment for a few years now Made the decision last year to bring his interests under one roof in the form of the Lexington Entertainment Group… Wife is running his East of Doheny Productions unit with Kramer Its first film, “A Time for Dancing,” is already in post production Kramer has said plan is to make the group into a “mini-studio” Like other International Lease Finance co-founders, Gonda and his wife also have their own foundation, which in their case focuses on supporting the arts and education Also like fellow ILFC co-founders, has enjoyed increase in wealth due to his real estate holdings and American International Group’s agreement this month to buy American General Corp. for $24.6 billion.


Gary Winnick


Net Worth:

$2.1 billion t44.7%


Last Year:

$3.8 billion


Age:


Residence:

Bel-Air


Source of Wealth:

Investments,

telecommunications


Background:

Long Island, N.Y. native Mastered art of the sale while working with Michael Milken at Drexel Burnham Lambert in the ’80s Took skills from Drexel to an office across the street in ’85, forming his own investment firm, now called Pacific Capital Group Exuberant dealmaker With three partners, bought undersea fiber-optic cable operation from AT & T; for $750 million in ’96 and renamed it Global Crossing Inc. Likes to make money and give it away in equally grand proportions Known for doing whatever it takes to poach talent from top firms.


Money Track:

Global Crossing reported massive loss of $1.7 billion on revenues of $3.8 billion for 2000 Stock has been wildly volatile, starting 2000 in the $50s and ending at about $15 a share Share price hit a year low last month of $8.77 Despite weak company performance, received a $1.03 million bonus in 2000 Received an $850,000 bonus in 1999 Received $785,833 salary in 2000, way up from $169,615 the previous year Was awarded 450,000 stock options in 2000 with an exercise price of about $53.63 Options would be worth $1.2 million if company’s stock price rises 5 percent annually over the option term Surging sales of data services helping Global Crossing grow revenues this year Company expects to generate cash revenues of $7.1 billion to $7.3 billion this year Despite selling around $500 million in stock in past year, Winnick is still largest shareholder in Global Crossing.


Buzz:

Global Crossing just did a major deal with Microsoft Corp. and Japan’s Softbank Corp. to build an advanced Asian telecommunications network Through Pacific Capital Group, Winnick recently purchased a 70 percent interest in Beverly Hills real estate investment company Colony Capital Inc., which has about $6 billion in real estate investments focused on real estate needed by New Economy ventures Bought fellow mogul David Murdock’s Bel-Air estate in a deal estimated to be worth as much as $95 million, possibly the largest price ever paid for a single family home Hooked up with Constellation Ventures, the venture arm of Bear Stearns & Co., to focus on getting Hollywood on board Global Crossing’s worldwide optical platform Gave $40 million to the Simon Wiesenthal Center to support a museum of tolerance in Jerusalem Major contributor to the L.A. Zoo and Cedars-Sinai Health System.


Leslie Gonda


Net Worth:

$1.8 billion s28.6%


Last Year:

$1.4 billion


Age:

81


Residence:

Beverly Hills


Source of Wealth:

Aircraft leasing


Background:

Survivor of Holocaust With wife Susan, fled Hungary after World War II for Venezuela… After spending nearly 20 years in South America, pulled up stakes again and settled in Southern California, where he began investing in real estate… In ’73, he and son, Louis, joined with another Hungarian, Steven Udvar-Hazy, to form International Lease Finance Corp . Took company public in ’83 Sold company to American International Group in 1990 Company is now the biggest aircraft lessor in the world.


Money Track:

AIG’s stock has taken off like a supersonic jet over the past decade Significant force driving AIG stock price higher is performance of ILFC, which posted record earnings and revenues in 2000… Company on track to best that performance this year Remains chairman of Century City-based ILFC subsidiary, despite stepping down from the board of parent AIG last year.


Buzz:

Now in semi-retirement Gonda family patriarch Signaled commitment to slow down last year with decision not to run for re-election to AIG board… Udvar-Hazy said elder Gonda, who is married with three children, wants to stay close to home and spend time with his family… Has continued to give generously to a variety of charities, including hospitals and Holocaust museums Enjoyed slight bump in wealth due to American International Group’s agreement this month to buy American General Corp. for $24.6 billion.


Haim Saban


Net Worth:


Last Year:


Age:

49


Residence:

Los Angeles


Source of Wealth:

Entertainment


Background:

Native of Israel who emigrated to the United States in 1973 Made fortune largely in children’s television programming.


Money Track:

Creator of such children’s TV content and accessories based on Teenage Mutant Ninja Turtles and Mighty Morphin Power Rangers Owns 49.5 percent of the Fox Family Worldwide network that broadcasts via the Fox Family Channel and Fox Kids’ Network Last December, exercised an option in his contract to sell his part of Fox Family to co-owner Rupert Murdoch’s News Corp Currently bickering with Murdoch over the fair market value of his portion News Corp. is said to be shopping the network in search of a buyer.


Buzz:

Has given millions of dollars to Democratic Party Recently co-hosted a $3.5 million fundraiser Longtime support was rewarded with his appointment to the President’s Export Council, advising the White House on trade issues When he learned that another donor had given $250,000 more than he had to the Democratic Congressional Campaign Committee, he sent a check for $250,000, with a $1 bill attached to it Other than his political activity, tends to remain behind the scenes.


Henry Yuen


Net Worth:

$1.5 billion t6.2%


Last Year:

$1.6 billion


Age:

53


Residence:

Pasadena


Source of Wealth:

Technology


Background:

Co-founder of Gemstar International Inc. Has knack for making complex gadgets user-friendly Born in Shanghai Came to United States in ’66 Has doctorate in applied mathematics from Caltech and law degree from Loyola Law School Prior to founding Gemstar, was a research scientist and technical fellow at TRW Inc . Held faculty positions at New York University’s Courant Institute of Mathematical Sciences and at CalTech Invented VCR Plus, electronic coding system that allows TV viewers to program their VCRs by entering one simple code on their remote control VCR Plus is embedded in about half the world’s VCRs Holds more than 25 patents and has more than 100 pending, mostly in the nascent world of interactive TV… Avid mah-jongg player Fan of novels by John LeCarre Hardly ever watches TV.


Money Track:

Chairman, president and CEO of Gemstar-TV Guide Salary alone last year was $1.9 million With bonuses and other compensation, 2000 pay was $5.3 million Uncanny ability to make huge sums of money off simple ideas Future earning power is assured if he can fulfill goal of making Gemstar the portal to the TV universe Possesses powerful combination of keen dealmaking skills and patent power Has been able to form lucrative alliances with media giants like Microsoft, Motorola, AOL and News Corp. Rupert Murdoch-controlled News Corp. recently became largest shareholder in Gemstar-TV Guide.


Buzz:

A few months after Gemstar’s acquisition of TV Guide closed in July 2000, the company released an incomplete quarterly financial statement News that it had omitted a $116 million net loss sent stock on downward spiral That misstep combined with blundered merger with Barnes & Noble and general investor wariness about interactive technologies have taken toll on personal wealth Share price plummeted to year-low of $20.25 last month, down from the $80 range it hovered at last summer Could become a player in Murdoch’s ongoing efforts to scoop up DirecTV from General Motors Corp… Last week, bought airline catalog firm SkyMall Inc. for $47.5 million.


Donald T. Sterling


Net Worth:

$1.3 billion s8.3%


Last Year:

$1.2 billion


Age:

64


Residence:

Beverly Hills, Malibu


Source of Wealth:

Real estate


Background:

Born Donald Tokowitz in Chicago Raised in East L.A.’s Jewish Boyle Heights neighborhood Attended Cal State L.A. and Southwestern University School of Law Graduated cum laude in 1961 Worked his way through school at a furniture store where he met his wife… Changed name to Sterling and opened Boyle Heights divorce and personal injury law practice Moved to Beverly Hills and began investing in real estate.


Money Track:

Owns Malibu Beach Club, Beverly Comstock Hotel and nearly half the apartment buildings in Beverly Hills… Bought what had been the San Diego Clippers for $12 million in ’81 Three years later moved the team to L.A. without permission of NBA, which fined him $6 million… Value of franchise has appreciated to at least $300 million through, among other factors, increased television revenues.


Buzz:

Spends liberally on marketing campaigns for Clippers basketball team, and especially so for this year’s flashy, young team Team missed playoffs, again, but finished strong down the final stretch, winning 13 of their last 16 home games Has been aggressively seeking and buying apartment complexes from West Hollywood to the Pacific Ocean and from Malibu to La Jolla Reportedly lining up a prominent international hospitality tenant for his Sterling World Plaza office building in Beverly Hills.


Franklin Otis Booth Jr.


Net Worth:

$1.2 billion s11.8%


Last Year:

$1.1 billion


Age:

77


Residence:


Source of Wealth:

Investments


Background:

Great-grandson of Times Mirror Co. founder Harrison Gray Otis Entered Caltech at age 16 Received MBA from Stanford University Started out in news business, doing brief gig as vice president with the Los Angeles Times Left to start his own printing business, which never materialized Known for practicality and down-to-earth personality Has lived in same home for 32 years Known to fly coach, observing that back half of plane gets there just as fast as front half.


Money Track:

Set out to launch his own publishing company, leaving running of Los Angeles Times to his cousins, including Otis Chandler Met Charles Munger, and the two partnered on $1 million 40-unit Pasadena condo project. Doubled their investment in two years In ’63, invested $1 million with Warren Buffet in fledgling Berkshire Hathaway Now owns 18,000 shares valued at more than $1 billion Has been director of the Clipper Fund in Beverly Hills, a $1 billion no-load fund, since its inception in ’84 Real estate holdings include a 2,500-acre orange grove and 4,000-acre cattle ranch.


Buzz:

Was honored last year at Dinosaur Ball at the Natural History Museum for his 1977 endowment of $350,000, which has since grown to approximately $80 million Sits on board of Good Samaritan Hospital, Planned Parenthood and Harvard/Westlake School in North Hollywood Planning to leave most of fortune to his six children Taking trip to Uruguay this month to go fishing.


Charles T. Munger


Net Worth:

$1.2 billion s9.1%


Last Year:


Age:


Residence:


Source of Wealth:


Background:

Came to Los Angeles in the 1950s as a lawyer Name still on nameplate of firm Munger, Toiles & Olson Spends most of his time managing his own investments An early partner and investor with billionaire Warren Buffett, who runs Berkshire Hathaway Inc., the investment holding company Serves as vice chairman of Berkshire Hathaway Has been chairman of the board and chief executive of Pasadena investment firm Wesco Financial Corp. since 1984 Wesco is 80 percent owned by Berkshire Hathaway Owns an interest in Daily Journal Corp., which publishes the Los Angeles and San Francisco Daily Journal newspapers Has eight children who will inherit his wealth.


Money Track:

Met Warren Buffett in 1959 Started investing in Berkshire Hathaway Owns 17,611 shares 1.3 percent of company Company’s shares trade for about $68,800 each Is vice chairman Has been a director since ’78 Investment company was highly criticized for not investing in tech stocks a few years ago, when Nasdaq was booming As other stocks plummeted, Berkshire’s shares have risen this year Berkshire primarily operates property/casualty insurance and reinsurance companies and owns stakes in See’s Candies, American Express, Coca-Cola and Gillette.


Buzz:

Shops at Costco, a discount retailer in which he owns a stake Last year, Berkshire Hathaway purchased 24 million Costco Wholesale Corp. shares, a stake of about 5 percent Pals around with fellow Berkshire Hathaway investor Franklin Otis Booth Jr. Avid fishermen who like to travel to South America to cast their rods for trout in Uruguay or Tierra del Fuego Chairman of Good Samaritan Hospital in Los Angeles.


David H. Murdock


Net Worth:

$1.2 billion s50%


Last Year:

$800 million


Age:

77


Residence:

Bel-Air


Source of Wealth:

Real estate,

agriculture, transportation


Background:

High-school dropout Made fortune, lost it, then made another one… After World War II, made a bundle building homes in Phoenix Then founded a bank… Bear market in ’64 cost him almost $100 million Promptly moved to Los Angeles and made it all back in California real estate Currently chairman of Dole Food Co., as well as owner of Castle & Cooke Co., a developer and property owner based in Los Angeles Undertakes much of his dealmaking through his private investment vehicle, Flexi-Van Leasing Inc., which also leases truck chassis to transport cargo containers.


Money Track:

Upped his 27 percent stake in Castle & Cooke to a full 100 percent last year Now has bragging rights to an entire island As owner of Castle & Cooke, controls 98 percent of Hawaiian island of Lanai, where the company operates two luxury resorts after pineapple operations were shut down in the early ’90s Didn’t get Castle & Cooke without a fight Stockholders all but laughed at his original offer of $12.06 per share Company eventually sold at $19.25, a 60 percent increase Spent about $650 million on the acquisition. His 24 percent equity stake in Dole is worth roughly $200 million.


Buzz:

Notorious for head-butting with government Cried bloody murder when United States and European Union recently reached settlement over EU banana-import rules Claimed the agreement was anti-free trade and, perhaps more importantly, favors competitor Chiquita Brands International Inc In the midst of his attempt to buy Castle & Cooke, the world’s richest man, Bill Gates, disclosed that he owned a 6.3 percent stake in the company through his private investment firm, Cascade Investments LLC Statement filed with SEC did not disclose when Gates bought the shares or what he paid for them Gates was married on the island of Lanai in ’94 and is reported to be a personal friend of Murdock’s.


Alfred E. Mann


Net Worth:

$1.2 billion s20%


Last Year:

$1 billion


Age:


Residence:

Mulholland Estates


Source of Wealth:

Biotechnology


Background:

Born in Portland, Ore . Displayed entrepreneurial talent early selling lemonade, magazine subscriptions during Depression… High school valedictorian… Master’s degree in physics from UCLA… Started optical technology company in 1956… Sold it and second, solar power company, in 1960, but stayed in charge… Started a pacemaker company called Pacesetter in ’69 Thrice divorced Six kids are grown Lives with lady friend he has known for years… Older brother founding member of Julliard String Quartet Sister a concert pianist.


Money Track:

Pocketed $75 million on sale of Pacesetter in ’85… Spun off technology for miniature insulin pump, creating MiniMed Inc. the same year… Pump eliminates diabetics’ needs for daily injections Company controls 80 percent of insulin pump market, and has $2.7 billion market cap… Despite double-digit revenue growth, MiniMed stock has been given a haircut as analysts worry that future growth might be tougher… Has interests in eight other biotech ventures… Plans to combine three of his privately held companies later this year, and take the combined entity public through an initial public offering… Another company, focused on advanced cochlear ear implants, also on deck for IPO.


Buzz:

MiniMed could hit jackpot with plans for implantable, internally regulated insulin pump Not slowing down despite age, or bout with esophageal cancer 14 years ago… Works 15-plus hours a day, sometimes seven days a week… Doesn’t play his favorite game, tennis, anymore… Has given away tons of money, including $100 million each to alma mater UCLA and USC… Successful IPOs could rocket him up the charts in months ahead.


Merv Griffin


Net Worth:

$1.2 billion t7.7%


Last Year:

$1.3 billion


Age:

74


Residence:


Source of Wealth:

Television, real estate, hotels


Background:

Radio singer in 1940s Launched global entertainment/hotel/real estate empire Owns movie and TV company, an Arizona dude ranch and the Beverly Hilton Hotel Hosted TV talk show Made fortune by creating game shows such as “Jeopardy” and “Wheel of Fortune” Griffin Advertising markets and promotes companies in the hospitality, entertainment and gaming fields Merv Griffin Productions handles corporate events and produced the city of Beverly Hills’ millennium party.


Money Track:

Sold production company to Columbia Pictures’ TV arm for $250 million in 1986 Unloaded five gambling boats plus casinos and hotels in Atlantic City and four casinos on Paradise Island in the Bahamas in ’94.


Buzz:

Still recording, including his recently released “It’s Like a Dream” Donated the $10 million Wickenburg Inn and Dude Ranch to Childhelp USA Received unwelcome attention when actor Robert Downey Jr. was recently arrested at Merv Griffin’s Resort Hotel and Givenchy Spa in Palm Springs Performed with Carol Burnett, Robert Goulet, Dick Van Dyke and Andy Williams at Society of Singers presentation of the Ella Award to film and stage star Julie Andrews.


Bradley Wayne Hughes


Net Worth:

$1.2 billion s37.1%


Last Year:

$875 million


Age:

67


Residence:

Malibu


Source of Wealth:

Personal storage facilities


Background:

Launched company in 1972 after stopping at a warehouse and learning it was full With family, owns 33 percent of country’s largest self-storage company Public Storage is product of merging more than 20 real estate investment trusts Initially called company Private Storage, but that led to widespread misconception that facilities were closed to the general public Changed name, customers came.


Money Track:

Invested $50,000 With partner raised another $650,000 to build first mini-warehouse Public Storage operates 1,306 properties in 37 states, with more than 700,000 customers In November 1998, Public Storage bought Storage Trust Realty, a rival mini-warehouse company, for $400 million Raised $3 billion for expansion during 80s Self-storage space generates 65 percent operating margin Net worth plunged to $875 million in 2000 from $1.3 billion the previous year, due to severe drop in stock price Stock has recovered nicely, and is up 17 percent so far this year Public Storage is off to a good start in 2001, reporting first-quarter net income of $74.6 million, almost 3 percent ahead of the like-period earnings last year Gain attributed to improved property operations and sale of real estate investments.


Buzz:

Moves quietly Drives his own car from his 13,000-square-foot estate on the coast to Glendale offices Raises and races thoroughbreds Owns stable of 80 horses Philanthropic activities include support for Hughes Institute at the University of Minnesota, which researches childhood cancers.


Alan I. Casden


Net Worth:

$1.1 billion s29.4%


Last Year:

$850 million


Age:

54


Residence:

Beverly Hills


Source of Wealth:


Background:

Parents moved from New York after World War II Dad was in the wholesale liquor business Has a twin sister, Claire, now a retired Downey elementary school teacher Grew up in Los Angeles Attended Hamilton High School Wanted to be a U.S. history college professor, but majored in accounting at USC where he graduated in 1968 First job was with Kenneth Leventhol & Co., an accounting firm specializing in real estate… Has an extensive Jewish coin collection, the oldest being about 2,500 years old.


Money Track:

Through his Casden Properties Inc., has been very active building apartments around the country Value of Beverly Hills-based firm has increased $1 billion in the last year, with Casden owning half of that Apartment developments range from low-income complexes to luxury digs Has acquired or developed more than 90,000 residential units valued at approximately $5 billion Two years ago, launched a $90 million, 624-unit development on the site of the former Centinela Drive-In Theater near Westchester Community is now 75 percent leased.


Buzz:

Putting finishing touches on first phase of his 1,381-unit addition to Park La Brea $300 million expansion at the 1950s-style apartments near the Los Angeles County Museum of Art and The Grove at Farmers Market is one of L.A.’s largest apartment developments in recent years Wants to buy 97 acres from Pinnacle Entertainment Inc. to build homes near Hollywood Park Last year, hosted Democratic fundraiser attended by Sen. Joseph Lieberman Funds went to a Lieberman political action committee Appointed to the Board of Trustees at USC where he endowed the Casden Institute for the Survey of the Jewish role in American life.


Arnon Milchan


Net Worth:

$1.1 billion s37.5%


Last Year:


Age:

56


Residence:


Source of Wealth:


Background:

Born in Israel Attended London School of Economics and University of Geneva Turned a failing fertilizer business and $61,000 left him by his father into a $100 million chemical business Has also dabbled in the arms trading business Described in ’89 Israeli newspaper article as “probably the country’s largest armaments dealer” Entered entertainment business in his early 30s Co-financed “The Medusa Touch,” which starred Richard Burton Started two commercial production companies in France and produced Roman Polanski’s stage play production of “Amadeus” Top film productions in ’80s included Martin Scorsese’s “The King of Comedy,” Terry Gilliam’s “Brazil” and Sergio Leone’s “Once Upon A Time in America.”


Money Track:

Founded independent film company New Regency Productions in ’91 Produced a slew of successful films and TV shows, including Oliver Stone’s “JFK,” which was nominated for eight Academy Awards Owns 50 percent of the company, the value of which has increased with the success of its movies and TV programs After New Regency’s distribution deal with Warner Bros. expired in ’98, inked a 15-year distribution and equity agreement with 20th Century Fox and moved his company to the Fox lot in Century City At the same time, created New Regency Television with Fox Television Studios TV arm of New Regency is working on an hour-long drama series based on the movie “L.A. Confidential,” which New Regency produced Company has filmed 10 TV pilots this year and has nine films in production.


Buzz:

Owns 300-year-old hunting lodge outside Paris Avid tennis player A 50 percent partner in a new Santa Ynez Valley vineyard near Santa Barbara Vineyard project being spearheaded by Barbara Levin, whose husband is AOL Time Warner Chief Executive Gerald Levin It is called Le’Mil Vineyard.


Frederick ‘Ted’ Field


Net Worth:

$1 billion t41.2%


Last Year:

$1.7 billion


Age:


Residence:


Source of Wealth:

Inheritance,

entertainment


Background:

Heir to Marshall Field & Co. retail fortune Came to L.A. in ’74 after squabble with half-brother Marshall First set out on career here as car racer, winning the 24 Hours of Daytona Forced liquidation of family’s retail and real estate fortune and then used his take to climb Hollywood ladder… Bought, sold movie-camera company Panavision Started Interscope Communications from scratch, which had hits with films like “Runaway Bride” and musical acts like The Wallflowers and Limp Bizkit… Major Democratic supporter and philanthropist Divorced three times and father of six daughters Has earned reputation as carouser… Probably Hollywood’s only billionaire badboy Destined for ArtistDirect Inc., an ailing L.A. music portal that he plans to lead as CEO.


Money Track:

Inherited $260 million of family estate Has been successful in selling and sometimes buying and reselling again stakes in film production and record companies to the big players In ’92, PolyGram paid him $35 million for a 51 percent share of Interscope Communications, which has now been passed on to Barry Diller’s USA Networks In ’95, sold a 50 percent stake in subsidiary Interscope Records to Time Warner for $125 million, only to buy it back at a discount when Time Warner got public heat for selling gangsta rap Resold Interscope to Seagram’s Universal Music Group for $200 million later that year Declines in tech and entertainment businesses have slammed his personal fortune hard, but he still clears the billionaire barrier.


Buzz:

Press-shy media mogul and financier has been spending recent months at ArtistDirect in Miracle Mile district Friends say he likes ArtistDirect because it’s cash-rich and offers an opportunity to bring together online and offline media offerings Dot-com’s uncertain future it’s on the verge of being delisted from the Nasdaq and isn’t making money makes his deal there anything but solid.


Selim K. Zilkha


Net Worth:

$1 billion s42.9%


Last Year:

$700 million


Age:


Residence:


Source of Wealth:

Natural gas, oil


Background:

Started in banking, switched to retail and finally made a fortune in energy technology… Born in Baghdad Family traces roots back 2,600 years to reign of Babylonian monarch Nebuchadnezzar II… Father and five siblings fled Baghdad after World War II… Worked for father Khedouri Zilkha’s bank from 1946 to 1960 before leaving to start British retail chain Mothercare plc, selling baby products and maternity clothes in the United States and Europe Sold interest in 1982, moved to Bel-Air and bought an oil company.


Money Track:

With a partner, acquired 42 percent stake in Ohio-based Towner Petroleum in 1983… Rescued company from bankruptcy and renamed it Zilkha Energy Co . Served as sole director and chief executive from 1984 to 1998… During worldwide oil glut of the late ’80s, purchased 1.5 million acres in Gulf of Mexico lease holdings at rock-bottom prices… Sold Zilkha Energy, which he owned together with son, Michael, to Birmingham, Ala.-based Sonat Inc. for more than $1 billion in stock, plus the assumption of debt… In ’99, Sonat bought by El Paso Energy Corp. as part of latter’s bid to create national transmission system for natural gas Now holds 12.8 million shares in El Paso Energy Value of those shares has soared, as natural gas shortage has driven prices higher… Invested $20 million in new wind power venture, Zilkha Renewable Energy, which is run by son Michael out of Houston… Also invested $10 million in Carlsbad-based Asia Web Holdings, which had hoped to set up premier Internet venture in Asia Late last year, after Internet venture was abandoned, Zilkha sued to get his investment returned.


Buzz:

Close friends with Mayor Richard Riordan Strongly supported Riordan’s charter reform proposal Backed unsuccessful mayoral bid of Riordan’s favored candidate, real estate broker Steve Soboroff… Active patron of Los Angeles Opera Occasionally appears in society pages at opera galas… Runs business ventures out of home office in Bel-Air.


Ed Roski Jr.


Net Worth:

$995 million s7.6%


Last Year:

$925 million


Age:

62


Residence:

Toluca Lake


Source of Wealth:

Real estate, sports, gaming


Background:

Born and bred in Los Angeles Father started Majestic Realty Co. in 1948 Played football at USC Earned degrees in finance and real estate… Served in Marine Corps Went into family business… Took over the business, expanding it into one of the largest commercial real estate developers in the region… A big sports fan Owns nearly 30 percent of the Los Angeles Kings hockey team Partner with reclusive Denver billionaire Philip Anschutz Together they also own 25 percent of the Los Angeles Lakers basketball team, valued at $360 million.


Money Track:

Joined father’s company in 1966 Worked to phase out the brokerage side of the business and concentrate on construction and management Other companies include Majestic Management Co. and Commerce Construction Co . Has developed more than 35 major business parks in California and 12 other states… Majestic’s portfolio has grown from 14 million square feet 12 years ago to 38 million square feet today… Built Staples Center, which opened in 1999 in downtown Los Angeles, with partner Anschutz.


Buzz:

Still dreams of bringing NFL team to Los Angeles, after earlier being outbid for expansion team by Houston Last year, said he would drop his quest to buy NFL franchise Also, Al Davis, managing partner of Oakland Raiders, is fighting over who owns rights to L.A. market Is refocusing efforts now on gambling and Las Vegas, where he owns the Silverton Hotel & Casino Tried unsuccessfully to buy Las Vegas Hilton last year for $365 million Missed September acquisition deadline… Filed suit early this year, asserting that Park Place Entertainment Corp., which operates the Hilton, failed to properly operate the hotel after the deal was announced and the value declined Unknown whether he plans to invest in another Las Vegas casino.


Roy E. Disney


Net Worth:

$990 million t 17.5%


Last Year:


Age:

71


Residence:

Los Angeles


Source of Wealth:

entertainment, investments


Background:

Son of Roy O., Walt’s older brother and co-founder of the Disney empire… Graduated from Pomona College in 1951with English degree… Began entertainment career in ’53 as assistant editor on “Dragnet” TV series In ’54, joined family business, first as an editor and then as a writer Went on to produce and direct more than 35 TV and theatrical productions Joined Disney’s board in ’67 after Walt’s death but left his job at the company 10 years later when it was going through a creative slump Resigned from board in ’83 Has since returned and is currently vice chairman of Disney Co.’s board and heads studio’s animation department Executive produced “Fantasia 2000,” a mild obsession of his.


Money Track:

Inherited hefty chunk of Disney stock, currently worth about $550 million. In past year, Disney Co. stock value has slumped 30 percent, yanking his personal net worth below the $1 billion mark Most of fortune tied up in Shamrock Holdings Inc., set up in 1978 to diversify his investments Shamrock now has around $1.5 billion under management Primarily invests in media, entertainment and related tech ventures Also invests overseas Has ventures in Israel, Europe, Australia and New Zealand Also chairman of Trefoil Investors Inc., the general partner of Trefoil Capital Investors LP, a $500 million investment partnership.


Buzz:

On the board of trustees for several organizations such as the Ronald McDonald House charities, American Ireland Fund, Big Brothers of Greater Los Angeles and the California Institute of the Arts When not at work, can often be found racing his yacht… Holds elapsed-time records for offshore passages on the Pacific Ocean, such as the Los Angeles to Honolulu Transpac race Rumored to be the primary force behind Jeffrey Katzenberg’s controversial and expensive departure from Disney Co Apparently felt Katzenberg was getting more credit than he deserved for the success of animated features.


Jona Goldrich


Net Worth:

$950 million s15.2%


Last Year:

$825 million


Age:

73


Residence:

Beverly Hills


Source of Wealth:

Real estate


Background:

Escaped Nazi occupation of Poland Schooled in Israel Arrived in L.A. in 1953 and started a construction site cleanup business the following year Formed Goldrich & Kest Industries with Sol Kest and built a 22-unit apartment building in North Hollywood Eventually became one of the biggest landlords in town Chief executive of the firm and majority stakeholder upon Kest’s retirement.


Money Track:

Goldrich & Kest of Culver City owns 20,000 apartment units, 38 retirement and convalescent facilities and 21 commercial and industrial developments Properties total more than 2 million square feet More than 50 percent are subsidized by the government as Section 8 housing… Portfolio getting significant boost as Section 8 contracts expire and apartments are converted to market rental rates.


Buzz:

Media-shy, but friendly with tenants Friend of Mayor Riordan and Gov. Davis Drives a hard bargain, but known for philanthropy Involved with creation of L.A. Holocaust Memorial Serves as chairman of California Holocaust Insurance Settlement Alliance Working on 99-unit apartment complex and yacht club in Marina del Rey.


Norman Lear


Net Worth:

$896 million s12%


Last Year:

$800 million


Age:

78


Residence:

Brentwood


Source of Wealth:

Entertainment


Background:

Voted “wittiest male” at New York City high school Used that talent to create sitcoms with political twist to them Started career as a writer in the ’50s for “Colgate Comedy Hour” Moved into making films that flopped With partner Bud Yorkin, had better luck with TV sitcoms In the early ’70s, produced string of hits “Sanford and Son,” “The Jeffersons” (one of the first TV shows to feature an interracial couple), “One Day at a Time,” “Maude” Most famous was “All in the Family” Groundbreaking sitcom pitted bigoted blue-collar worker Archie Bunker against his liberal daughter and son-in-law Described as the most influential producer who ever worked in TV for tackling issues that had once been taboo, including racial prejudices, homosexuality, anti-Semitism and women’s rights.


Money Track:

In 1981, left TV to found People for the American Way, a lobbying organization that fought against the political right wing Returned to entertainment business in the 1990s, using profits from his sitcoms to diversify his holdings into TV stations and movie theaters Sold ABRY Broadcast Partners in ’94 for $500 million and Act III theaters for $660 million Of that, $112 million ultimately went to his wife, Frances, in a divorce settlement She died of cancer in ’96 Currently operates through a media holding company called Act III Communications, which recently invested in Rotor Inc., a young company that has developed software enabling Internet presentations to be interactive Rotor technology now being introduced to TV producers and stations Also has an investment in an Internet jazz site.


Buzz:

Still very active on liberal political scene Actor/director Rob Reiner recently held dinner for New York governor hopeful Andrew Cuomo and invited Lear… He and daughter Maggie were on guest list of rich and famous invited late last year by former President Bill Clinton to celebrate the 200th anniversary of the White House Involved in several philanthropic causes, often through the Norman Lear Family Foundation Recently closed down the Business Enterprise Trust, a nonprofit group he founded in 1989 to laud companies for integrating social vision into their business plans.


Jeffrey Katzenberg


Net Worth:

$890 million s11.3%


Last Year:


Age:

50


Residence:


Source of Wealth:


Background:

Grew up on ritzy Park Avenue, not too far from childhood friend Michael Eisner, with whom he worked for many years at Walt Disney Co Got his feet wet in entertainment industry when ABC executive Barry Diller hired him as his personal assistant Tagged along when Diller traveled over to Paramount in the early 1970s to make movies Traveled up ranks of movie business, eventually ending up as president of Paramount at age of 31 A few years later, joined Eisner at Disney, heading company’s studio division Eisner refused to anoint him No. 2 man Left Disney in ’94 to form DreamWorks SKG with Steven Spielberg and David Geffen.


Money Track:

A well-paid Disney executive, making $100 million during his decade there… Ended up suing Disney for what he claimed was owed him as part of his contractual agreement Finally settled for a reported $250 million DreamWorks came out of the shoot slowly, but last year was stellar with such movies as “Gladiator,” which was co-produced with Universal Also enriched by other DreamWorks films that did well in the past year including “Chicken Run” and “What Lies Beneath” So far this year, the studio’s film “The Mexican” has done so-so… Fortunately, it was made on a $40-million budget, despite its high-cost stars Brad Pitt and Julia Roberts… DreamWorks revenues last year were up 12 percent, totaling $1.2 billion.


Buzz:

Heads film division of DreamWorks. Continues to be major cheerleader for producing big-budget animated films Latest focus: “Shrek,” a film about a fire-breathing ogre Some say film is a dig at former boss Eisner, who in court papers once said of Katzenberg, “I think I hate the little midget” Was instrumental at the negotiating table during the recent labor talks with television and film writers who were threatening to go on strike… Sometimes seemed to sit on both sides of the table In mid-April, seen sitting at Lakers’ game with Writer Guild of America president John Wells.


George R. Hearst Jr.


Net Worth:

$870 million t3.9%


Last Year:

$905 million


Age:


Residence:


Source of Wealth:

Inheritance


Background:

One of 10 grandchildren to newspaper super-mogul William Randolph Hearst, who was the inspiration for “Citizen Kane.” Previously publisher of the Los Angeles Herald-Examiner and Los Angeles Evening Herald Express Chairman of the Hearst Corp., president of Hearst Foundation and director of the William Randolph Hearst Foundation.


Money Track:

The Hearst Corp. publishes 12 daily newspapers nationwide, popular magazines such as Harper’s Bazaar, Esquire and Cosmopolitan Owns and operates 26 TV stations through Hearst-Argyle Television Produces and distributes television programming, a partner in ESPN, A & E;, History Channel and Lifetime cable networks Not bad, considering William Randolph Hearst acquired his first paper, The San Francisco Examiner, as payment for a gambling debt in 1880.


Buzz:

Hearst is father of four children, been widowed, divorced and remarried In 2000, Randolph Hearst, his uncle and sole surviving son of William Randolph Hearst, died after a massive stroke Randolph had been chairman of the Hearst Corp. until 1996, when asked to leave post George took over and still holds position Rumors were floating that Randolph lost the job as a result of wife’s inability to keep from interfering in company affairs.


Millicent Boudjakdji


Net Worth:


Last Year:


Age:

60


Residence:

Los Angeles


Source of Wealth:


Background:

Grandchild of media giant William Randolph and Millicent Hearst… Daughter of David Whitmire Hearst… Married with three children… Media shy and fiercely private Has avoided media attention, but family name and wealth has kept her in papers… Following ’74 kidnapping of cousin Patricia Hearst, daughter of Randolph Hearst, all court documents pertaining to Hearst family have been sealed.


Money Track:

See George R. Hearst Jr.


Buzz:

See David Hearst Jr.


David Hearst Jr.


Net Worth:

$870 million t3.9%


Last Year:

$905 million


Age:

55


Residence:


Source of Wealth:

Inheritance


Background:

Third of William Randolph Hearst’s grandchildren who lives in Los Angeles Single and private… Father, David Whitmire Hearst, was a newspaper reporter and publisher before becoming vice president and director of Hearst Corp.


Money Track:

One of 11 direct heirs to family fortune Receives an estimated $3.1 to $12.6 million a year from Hearst estate Grandfather’s will gave 99 percent of Hearst Corp. stock to the Hearst Foundation and the William Randolph Hearst Foundation instead of letting his sons inherit it directly Management of family estate left in the hands of 13 trustees, eight Hearst Corp. executives, five Hearsts William Randolph Hearst’s last son, Randolph Hearst, died late last year.


Buzz:

William Randolph Hearst’s will stated that professional managers would control his empire But managers must answer to a 13-person board of trustees Hearst children were given five of the 13 votes and trusts were set up to last until all of the then-living grandchildren had died Anyone who challenges the setup of the will is disinherited Today there are approximately 50 grandchildren and great-grandchildren benefiting from Hearst Corp. profits.


John Edward Anderson


Net Worth:

$865 million s8.1%


Last Year:

$800 million


Age:


Residence:

Bel-Air


Source of Wealth:

Law, investments


Background:

Son of a Minnesota barber Left his hometown of Minneapolis to attend UCLA on hockey scholarship Went to get MBA from Harvard and before completing degree was asked to join school’s faculty Declined and enlisted in Navy On shore leave, took and passed CPA exam Studied law at night while working for Arthur Andersen in Los Angeles In 1953, co-founded Kindel & Anderson, a law firm that quickly grew to more than 100 lawyers Many clients were beverage distributors Started Ace Beverage Co. in 1956 as a distributor of Hamm’s beer and became a Budweiser distributor In 1987, wrote a $15 million check to UCLA Graduate School of Management to pay for construction of a new facility The Anderson School regularly ranks among the top 10 business programs in the nation.


Money Track:

His holding company, Topa Equities Ltd., invests in insurance, beverage distribution, real estate, agriculture and auto dealerships Firm is dominant player in Hawaiian and Caribbean beer markets In ’98, sold what is now called Mellon 1st Business Bank to Mellon Bank Corp. and walked away with $180 million Still maintains a seat on the board Last year, Topa acquired two coffee companies and a rum maker in Hawaii In the process of acquiring several office buildings in Thousand Oaks Describes himself as a conservative investor.


Buzz:

At 83, continues to work 12-hour days Does take time off to enjoy his wealth Every August, family goes on its annual trip to Sun Valley, Idaho, a 15-year tradition Three grandsons have worked for Kayne-Anderson, the investment management firm he founded, for the past two summers He and wife, Marion, recently gave $6.5 million to Childrens Hospital of Los Angeles.


Guilford Glazer


Net Worth:

$850 million s13.3%


Last Year:

$750 million


Age:

79


Residence:

Beverly Hills


Source of Wealth:


Background:

Knoxville, Tenn. native Inherited and expanded father’s welding shop… Graduate of University of Tennessee Moved

No posts to display