The 50 Wealthiest Angelenos: Alan Casden – #11

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The 50 Wealthiest Angelenos: Alan Casden – #11
Alan Casden

The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Portfolio of apartment buildings made gains after recession-related swoon. Portfolio said to be nearly fully leased. Believed to have made major stock buys during downturn, taking advantage of depressed values. Now enjoying gains.

BUZZ: Taciturn and tenacious Casden won approval in February for West Hollywood mixed-use development that could be worth more than $300 million when completed. Another mixed-use development next to planned West L.A. light-rail station could be worth upwards of $750 million, if built. Prominent supporter of Israel. Has plans for high-end apartment building in Tel Aviv, though project caught up in city bureaucracy. Serves on Holocaust Memorial Council overseeing Holocaust Memorial Museum in Washington, D.C. Owns renowned ancient Jewish coin collection valued at $40 million. USC trustee gave nearly $11 million to alma mater for its Institute for the Study of the Jewish Role in American Life. Scored big eight years ago, netting nearly $800 million from sale of apartment portfolio to Apartment Investment & Management Co.

• NET WORTH: $2.5 billion +22%

• LAST YEAR: $2.05 billion

• AGE: 64

• RESIDENCE: Beverly Hills

• SOURCE OF WEALTH: Real estate

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