50 Wealthiest: Ron Burkle #5

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50 Wealthiest: Ron Burkle #5
Wealthiest Angelenos: Ron Burkle

NET WORTH: $4.5 billion +5%

LAST YEAR: $4.3 billion

AGE: 59

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Logistics, supermarkets, real estate, media, retail

THE MONEY: Self-made supermarket mogul continues to diversify with more than $7 billion in global holdings through L.A. investment company Yucaipa Cos. Greater emphasis on media, hospitality and luxury retailers, but so far only nominal gains.

BUZZ: Savvy deal-maker did a lot more buying and building than selling this past year. This month converted debt holdings in New York retailer Barneys into near-majority ownership, adding to retail portfolio that includes U.K. crown jeweler Garrard.

Media holdings grew with purchase of 14-radio station Integrity Broadcasting in New York and a debt stake in West Hollywood indie film studio Relatively Media. Nearly 20 percent stake in bookseller Barnes & Noble has more than doubled in value over last year to $214 million.

His London home now a base for overseas deal-making. In February, took majority stake in London’s Independent Talent Group, Europe’s leading talent agency. Also took new majority stake in high-end, members-only club chain Soho House, which has L.A. location.

Labor-friendly entrepreneur partnered with financier Wilbur Ross to invest $100 million in New York’s Amalgamated Bank, nation’s only union-owned bank. Majority stake in National Hockey League’s Pittsburgh Penguins continues to appreciate, with team getting kudos for multiple Stanley Cup wins and innovative licensing deals.

Maintains L.A. roots at historic Beverly Hills’ Green Acres estate. Last July, acquired and is renovating historic Frank Lloyd Wright-designed Ennis House in Los Feliz. Grocer’s son made first fortune in his father’s industry, and his global cold-storage giant, Americold, is considered the largest single player in China’s storage industry.

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