45. John Shea
THE MONEY: The chairman of J.F. Shea Co. saw solid growth in the company’s homebuilding business, and its apartment holdings grew by 600 units, offsetting a slight decrease in its office, industrial, and retail portfolio to 5 million square feet in California, Colorado, and Washington state.
THE BUZZ: Development activity at Shea Homes, the nation’s largest privately held homebuilder, continued over the last year, including a project opening next month in Gilbert, Ariz. Shea Properties recently opened a mixed-use complex in Alhambra. John Shea turned over day-to-day duties at the parent company he co-founded, J.F. Shea Co., in 2005. His cousin and heir apparent, Peter O. Shea Jr., is chief executive. The holding company was founded by John Shea’s grandfather in 1881 in Portland, Ore., and is now headquartered in Walnut. Shea lives in Pasadena with his wife, Dorothy. The couple’s philanthropy is aimed at Catholic charities and institutions. He was recognized as a Knight of Malta and received the Cardinal’s Award from Cardinal Roger M. Mahony.
NET WORTH: $1.49 billion (+4.9%)
LAST YEAR: $1.42 billion
SOURCE OF WEALTH: Homebuilding, civil construction, real estate
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