Occidental Petroleum Corp.
Ray Irani, former chief executive of Occidental Petroleum, succeeded company founder Armand Hammer in 1990. Occidental’s market capitalization increased 15-fold to more than $80 billion during his tenure, which ended in 2011. Irani these days has a portfolio that includes OXY shares, investments in medical-related real estate properties, private equity and bonds. He is No. 42 on the Los Angeles Business Journal’s list of Wealthiest Angelenos with an estimated net worth of $1.7 billion. Lebanon-born Irani moved to Los Angeles in 1953 and received a doctorate in chemistry from USC. He has amassed more than 150 patents as a researcher. He donated $20 million toward the residential college at USC Village. He was, until earlier this year, on the board of Wynn Resorts Ltd., but resigned in the wake of sexual harassment allegations against founder Steve Wynn.