The skinny on the fat wallets of L.A.’s 50 wealthiest.
Ron Burkle
NET WORTH: $4.3 billion +8% LAST YEAR: $4 billion
AGE: 58 RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Supermarkets, investments
THE MONEY: Self-made mogul continues to augment fortune with diversified L.A. company Yucaipa Cos., which has seen appreciation of some portfolio companies, including Whole Foods Market Inc.
BUZZ: At first glance, wasn’t good year for savvy deal-maker, who suffered setback in losing bitter proxy war with Barnes & Noble management to acquire larger stake in faltering bookseller. Also stepped back from plan to bankroll Harvey and Bob Weinstein’s bid to regain control of Miramax Films after deciding film library was overpriced. But also notched several successes, including cold-storage REIT Americold receiving $375 million investment. Doubled debt holdings in luxury retailer Barney’s and owns U.K. crown jeweler Garrard, which crafted Princess Diana engagement ring now worn by newlywed Princess Catherine. Holds majority stake in NHL’s increasingly valuable Pittsburgh Penguins franchise, which continues winning ways. Staying more in London residence, but keeps Lakers season tickets and historic Beverly Hills’ Green Acres estate, site of glitzy fundraisers for Democratic candidates and favorite charities such as Santa Monica’s Rape Crisis Treatment Center. Grocer’s son made fortune turning around underperforming groceries. Yucaipa, which has minority investors, has holdings valued at more than $7 billion.
