Net Worth:

$1.6 billion +7%

Last Year:

$1.5 billion

Age:

60

Residence:

Beverly Hills

Source of Wealth:

Real Estate

The Money:

A large chunk of net worth comes from the sale of his apartments portfolio to Apartment Investment & Management Co. (Aimco) six years ago, netting $700 million. Received an additional $250 million from Aimco for consulting after the sale was complete. Current portfolio holds nearly $500 million in commercial property and saw appreciation over the past year.

Buzz:

Work continues on Casden’s Palazzo Westwood, a $300 million mixed-use facility which drew criticism from the community. When completed, the project will have 50,000 square-feet of retail and 350 residential units. Casden purchased land last year in Beverly Hills and plans to develop condos on Wilshire Boulevard between Saks Fifth Avenue and Barneys New York. Also has stake in planned luxury residential project in Tel Aviv. Scored a victory in March when a jury rejected brother Henry’s financial claims, the latest battle in an eight-year war with brother who sued to recover severance and dividends after leaving Casden’s real estate company.