Wealthiest Angelenos: 30, Bruce A. Karsh

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Net Worth: $1.84 billion, down 2.6 percent

LAST YEAR: $1.89 billion

AGE: 60

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Money management, private equity

THE MONEY: Wealth essentially fell for co-founder and co-chairman of downtown L.A. private equity firm Oaktree Capital Group despite depressed stock price of his public firm and other holdings.

THE BUZZ: Founded Oaktree in 1995 with former L.A. resident Howard Marks. Took firm public in 2012 and has grown assets under management to $97 billion by the end of last year. Oaktree expanded presence in Asia Pacific region, opening an office in Sydney in March. Before breaking into private equity, started career as an attorney, clerking for now U.S. Supreme Court Justice Anthony Kennedy, then presiding over U.S. Court of Appeals for the Ninth Circuit. St. Louis native bought Ritz-Carlton in nearby suburb of Clayton in 2012 for $56 million. Holds minority stake in Golden State Warriors. Chairman of Tribune Media Co.; announced in February that Chicago firm had enlisted financial advisers to explore strategic alternatives such as selling certain business lines or assets.

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