NET WORTH: $1.57 billion, down 22 percent

LAST YEAR: $2 billion

AGE: 53

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Private equity

THE MONEY: Investor and philanthropist manages family fortune through Berggruen Holdings Inc. Dubbed a top Bitcoin investor, pumps money into slew of tech startups. Company has interest in diverse industries such as car rental services, for-profit education, hotels, publishing and health care.

BUZZ: Sold 133-year-old German department store chain Karstadt for 1 euro ($1.34) in August, which he bought at same symbolic price in 2010. Planned to restore retailer to profitability but failed after four years. With 83 stores throughout Germany, Karstadt valued at $515 million. Loss of asset represents decline in net worth. Sits on board of Los Angeles County Museum of Art. Invested in several startups in recent months, including Venice’s Cargomatic, “Uber for truckers.” Said to split time between New York and Los Angeles, spends much of his time working at Santa Monica think tank Berggruen Institute on Governance, founded in 2010. Born in Paris, but has dual citizenship in the United States and Germany. Son of wealthy international art dealer, founded Berggruen Holdings in 1985. Long known as “homeless billionaire,” used to move from hotel to hotel. Has joined Giving Pledge and plans to give away majority of wealth.