14ED ROSKI JR.
Net Worth: $2.54 billion -2%
Last Year: $2.6 billion
Age: 69 - Residence: Los Angeles
Source of Wealth:
Real Estate, Development
The Money: The real estate market has tanked but Roski has just about held his own a testament to the strength of his holdings as owner and chief executive of Majestic Realty Co., one of the country's largest privately held commercial real estate development and management companies. While industrial vacancy rates are up a bit, the company has prime holdings centered in the San Gabriel Valley. Also benefiting from ownership of the Silverton Casino in Las Vegas.
Buzz: Roski made splash in April when he announced plans for an $800 million football stadium in City of Industry on land he owns. The stadium would be built without tax dollars, but not until a team agreed to move to L.A. Roski has experience in the field: His company developed Staples Center with fellow billionaire Philip Anschutz. Also co-owns Kings and has piece of the Lakers. Meanwhile, Roski's Silverton Casino is undergoing a $130 million expansion that should be completed early next year. A second phase of the casino development includes $300 million hotel tower with 365 rooms, nightclub and meeting space. A former Marine who graduated with a finance degree from USC, Roski hit it big after joining family business in the 1960s. An avid mountain climber, has scaled Mt. Kilimanjaro. Along with wife Gayle, is a big supporter of the arts. Is on board of L.A. County Museum of Art, California Science Center and USC.
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