The 50 Wealthiest Angelenos: Barbara Davis & Family – #49

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

THE MONEY: Widow of legendary oil and entertainment tycoon Martin Davis lives quietly on the Westside off what remains of late husband’s formerly multibillion-dollar fortune. Lawsuits by their children alleged mishandling of assets before and after his 2004 death. Former wildcatter Martin leveraged oil wealth into control of 20th Century Fox studios, Pebble Beach golf resort and resort owner Aspen Ski Co., all sold years ago.

BUZZ: Barbara Davis still presides over her biannual Carousel of Hope gala, held in its heyday at family’s historic Knoll estate in Beverly Hills, which was sold a few years ago. Pet causes –diabetes and multiple sclerosis research – inspired by her children’s battles with the diseases. Children continue to fight over father’s estate, but more quietly than in years past. High-profile lawsuit by daughter Patricia Davis Raynes in 2005 alleged father pilfered her trust fund, later was settled out of court. Another daughter, Nancy, unsuccessfully attempted to sue brother Greg over handling of family’s last tie to oil business, Davis Petroleum Corp., which went bankrupt in 2006.

NET WORTH: $490 million -33%

LAST YEAR: $725 million

AGE: 80

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Oil, real estate, entertainment

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