LABJ FORUM – Life of Luxury

The 50 Richest Angelenos, as compiled by the Business Journal, are a rarefied lot. Viacom Inc. Chairman Sumner Redstone has this year’s top spot, at $8.9 billion, but even the last person on the list, Merv Griffin, comes in at a cool $500 million. That’s more money than most of us can even imagine having but why not give it a try? So the Business Journal asks:

If you had $500 million, what would you do with it?

Alec Hudnut

President

Evolution Robotics Inc.

I think there is an opportunity in Los Angeles to start a venture capital community similar to what we have in the Bay Area. So I’d start a venture fund and seed a series of promising technologies like robotics, some of the animation coming out of the studios, communications and biotech coming out of Cal Tech and try and build as large a network of successful technology companies and capital firms as we have in the Bay Area. And then I’d go to Disneyland.

Mark Dorenfeld

Senior Vice President

Aspen Education Group Inc.

I would retire. I’d take half the money and put it in a foundation and donate it, focusing on poor children who need medical and educational help in Los Angeles. I live here and I was born here, so I’d focus my efforts here. And there’s enough here to keep busy. I’d take care of my own kids set them up. And I’d travel all around the world. First to Italy because my wife’s family is from there and she’s never been. Then to Hawaii to lie on the beach and golf.

Paul Malaty

General Sales Manager

Ford West

I would help people around me because at my age I don’t think I could spend it before I die. I would give it to people who need it, like hungry people, and contribute to charities. I don’t think my life would change a lot. We think money sometimes is a friend and brings peace of mind but it’s really not. It won’t bring us happiness because that comes from inside ourselves. I am a happy person. I have my family and kids I adore, and I see a lot of things that bring us happiness more than money.

Erin Kuhlman

Vice President, Corporate Relations

Parsons Corp.

I would have a lot of fun and make sure there would be some left over for altruistic means. That means travel, real estate, lots of time off from work, and good schools for my kids. I would travel internationally and in the United States to places like Hawaii, Africa and Europe. I would give money to charity and share with my family.

Michael Glynn

Managing Partner

Tanner Mainstain Hoffer & Peyrot

I would just buy municipal bonds and live very nicely for the rest of my life and give a good portion to charities, like medical and Jewish. I would work on a very limited basis doing what I want to do, but not what I have to. I’d try to travel as much as I could, enjoy time with my family, improve my golf game and not worry about the type of things you have to worry about when you have to make a living.

Manuel Urquiza

Director of Strategic Planning

Leo A. Daly

I would practice architecture as a hobby so I wouldn’t have to concern myself when clients negotiate the fees down to nothing but still demand everything. Then I would obviously pay for both my daughters’ education upfront, and I would donate the balance to education. One of my daughters is currently at the University of San Francisco studying psychiatry so I could build her first house; at least I’d like to.