Net Worth: $1.51 billion, down 4.7 percent

LAST YEAR: $1.57 billion

AGE: 54

RESIDENCE: West Hollywood

SOURCE OF WEALTH: Private equity

THE MONEY: Investor and philanthropist manages family fortune through Berggruen Holdings Inc. Company has interest in diverse industries such as for-profit education, hotels, publishing, and health care. Net worth ticked down slightly due to decline in value of certain public holdings. Also has huge real estate portfolio and is developing projects across the globe. Frequent angel investor in tech startups.

THE BUZZ: Born in Paris with dual U.S. and German citizenship. Son of wealthy international art dealer founded Berggruen in 1985. Long known as “homeless billionaire” and used to move from hotel to hotel. In recent years, gypsy financier settled down and owns reported nine units and maid’s quarters in exclusive Sierra Towers on Beverly Hills-West Hollywood border. Named one of Forbes’ most eligible bachelors. Also a father: Two surrogates gave birth to a boy and girl three weeks apart in March. His biggest public-facing project since 2010 has been tending to Berggruen Institute, which now has two separate wings: Berggruen Institute on Governance and Berggruen Philosophy + Cultural Center, which he says have $1 billion endowments. Plans to award inaugural $1 million annual philosophy prize this year. Has purchased acreage in Brentwood with intent to establish permanent campus for institute. Joined Giving Pledge and plans to give away majority of wealth. Sits on board of Los Angeles County Museum of Art.