The 50 Wealthiest Angelenos: Marc Nathanson – #36

0

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

THE MONEY: Cable television pioneer now big real estate investor. Told Business Journal he favors “very conservative” investments, which have rebounded from last year’s depths but couldn’t put exact number on value. Owns about 60 properties, mostly industrial and retail across country and hotels in Europe. Also in 30 limited partnerships, including in oil and gas. Didn’t object to estimated 20 percent gain in net worth.

BUZZ: Largely got out of communications industry after selling his Falcon Communications cable company to billionaire Paul Allen in 1999 for $3.7 billion. Started Mapleton Investments LLC, Westwood-based family investment vehicle in 1999. Today spends “at least half my time on philanthropic activities.” Has donated $10 million to the L.A. County Museum of Art with wife Jane. Serves on numerous boards, including Skirball Cultural Center, L.A. Philharmonic and Aspen Institute think tank. Active political donor and friend of Clintons. Served in Clinton administration as chairman of Broadcasting Board of Governors. Discussed possible Obama administration appointment, but turned down over divestiture policies: “A businessman who has multiple investment activities in public partnerships and venture capital, etc., would have to divest of a lot of overseas investments and I’m not prepared to do it in this economy.” Worked as door-to-door cable television salesman in college and started Falcon at 28. Sons Adam and David also in TV industry. Chairman of Falcon Waterfree Technologies, leading maker of waterless urinals.

• NET WORTH: $890 million +20%

• LAST YEAR: $740 million

• AGE: 64

• RESIDENCE: Holmby Hills

• SOURCE OF WEALTH: Communications, real estate, private equity

No posts to display