The skinny on the fat wallets of L.A.’s 50 wealthiest.

George Joseph

NET WORTH: $1.23 billion -2%

LAST YEAR: $1.25 billion

AGE: 89 RESIDENCE: Los Angeles

SOURCE OF WEALTH: Insurance

THE MONEY: Founder of property and casualty insurer Mercury General took hit as stock fell 10 percent from last year. Drop partially offset by $44 million in dividend payments on 18 million-plus shares. Earned nearly $900,000 chairman’s salary.

BUZZ: Got political in 2010, giving $1 million to PAC that supported Republican candidate for state insurance commissioner. Led fight for Proposition 17; controversial measure would have allowed insurers to offer discounts to drivers who switch providers. Bill was defeated in June. Also donated more than $40,000 to Republican campaigns. Father of five came under fire last year from consumer group for not disclosing nephew works as Mercury executive. Piloted bomber in World War II, earned dual Harvard degrees and worked as door-to-door insurance salesman before founding Mercury in 1961.