The 50 Wealthiest Angelenos: Robert Maguire – #31

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The 50 Wealthiest Angelenos: Robert Maguire – #31
Maguire outside one of his Van Nuys Airport businesses.

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

THE MONEY: Famously mercurial developer told Business Journal net worth rose modestly due to improvement in commercial real estate and private aviation. Owns sizable natural gas holdings and about 5.5 million square feet of office buildings. Largest terminal operator at Van Nuys Airport.

BUZZ: Founder and former chief executive of Maguire Properties recently made play for three of the best office developments in public company’s portfolio – two in downtown Los Angeles and one in Pasadena. Was critical of company management in letter and offer turned down. This month, company changed name to MPG Office Trust Inc. to sever link with Maguire, ousted from company two years ago. Maguire wouldn’t rule out making another attempt to buy properties. Has plans to convert 14-story downtown parking structure into 430 apartments. Built city’s most iconic office building, 73-story U.S. Bank Tower. Second-generation pilot. Father Robert was famous for flying Jewish refugees to Israel after war. Remains largest individual shareholder of MPG.

• NET WORTH: $1.09 billion +5%

• LAST YEAR: $1.04 billion

• AGE: 75

• SOURCE OF WEALTH: Real estate

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