LABJ SPECIAL REPORTS

Letter from the Publisher

Los Angeles is a place where people come to build a future and live their dreams.

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11. Steven Spielberg

2018 Wealthiest Angelenos

The Academy Award-winning director holds a stake in Amblin Partners, a content and entertainment company where he serves as chairman and chief executive.

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12. Donald & Rochelle Sterling

2018 Wealthiest Angelenos

Donald Sterling still holds nearly all of the real estate he has acquired since the 1960s.

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13. Rick Caruso

2018 Wealthiest Angelenos

The real estate developer best known for his Los Angeles County retail centers, The Grove and Americana at Brand, saw an uptick in his net worth thanks to a robust real estate market and the pending opening of his latest project, Palisades Village, a 125,000-square-foot retail center in Pacific Palisades, which is set to bow in September.

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14. Tamara Hughes Gustavson

2018 Wealthiest Angelenos

The largest shareholder of Glendale-based self-storage giant Public Storage, Gustavson has an 11 percent stake in the company.

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15. Haim Saban

2018 Wealthiest Angelenos

he chairman and chief executive of investment firm Saban Capital Group saw an increase in his wealth based largely on the value of his Saban Brands, which was tabulated before the May announcement that it has agreed to sell its Power Rangers and other entertainment brands to Hasbro Inc. for $522 million.

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16. Tom Gores

2018 Wealthiest Angelenos

Gores’ net worth increased this year based on an estimated growth in his private equity business and an increase in the value of the Detroit Pistons, 100 percent of which Gores owns.

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17. Sumner Redstone

2018 Wealthiest Angelenos

As of press time, Redstone’s family company, the Massachusetts-based National Amusements, was seeking to merge its Viacom and CBS Corp. units.

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18. Anthony Pritzker

2018 Wealthiest Angelenos

Pritzker is one of 11 heirs to the Chicago-based Pritzker family fortune, including the Hyatt hotel chain. He oversees the family-funded Pritzker Group’s private equity and venture capital businesses.

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19. David Murdock

2018 Wealthiest Angelenos

The primary sources of Murdock’s wealth are his ownership of produce distributor and marketer Dole Foods Co. in Westlake Village and its former parent company Castle & Cooke Inc.

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20. Do Won "Don" & Jin Sook Chang

2018 Wealthiest Angelenos

Husband and wife Do Won “Don” and Jin Sook Chang are 100 percent owners of fast-fashion chain Forever 21, one of the largest clothing retailers in the U.S.

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21. Eric Smidt

2018 Wealthiest Angelenos

Smidt, who owns 90 percent of the Harbor Freight chain, has in the past used debt to pay dividends, increasing his wealth.

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22. Jeffrey Skoll

2018 Wealthiest Angelenos

Skoll’s hedge fund portfolio grew and his stakes in public companies rose in value, though he continues to sell shares to fund his efforts to deliver socially conscious messages.

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23. Evan Spiegel

2018 Wealthiest Angelenos

Snap Inc. CEO Spiegel’s wealth surged upward in 2017 with the social media company’s explosive initial public offering

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24. Bobby Murphy

2018 Wealthiest Angelenos

Snap Inc. Chief Technology Officer Murphy’s wealth surged upward in 2017 with the company’s initial public offering

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