LABJ WEEKLY EDITION

Leiweke’s New Look

AEG vet and music man Azoff bring $100M backer; partner with MSG on arena-sized challengeWestwood-based arena builder makes play in Seattle, success in L.A. still elusive.

Top Line on Wealthiest: $219 Billion

Moderate gain over course of unpredictable year; Soon-Shiong still tops

The members of the 2018 Wealthiest Angelenos list combined for an increase in fortune despite a slight decline in their ranks, according to Business Journal estimates.

New Beachhead for Biotech

HEALTH CARE: Veteran sets up in City of Industry

A biotech firm in City of Industry has secured nearly $12 million to market a newly approved drug to treat hypertension in a therapy paired with a digital monitoring platform to help ensure patient compliance.

KCET Set to Share Billing

MEDIA: Deal with OC station ends flight from PBS

KCETLink Media Group Inc.’s proposed merger with PBS SoCal/KOCE-TV Foundation in Orange County aims to create a new center for public broadcasting in Burbank as part of a two-headed public TV station.

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Millennials on Chains’ Menus?

RESTAURANTS: Signs point to trend of younger franchisees

It’s no surprise that the Business Journal’s list of the top restaurant chains is again dominated by fast-food and fast-casual restaurants – concepts based on large-scale operations.

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Hilton’s Other Career; Soon-Shiong’s Ripple

Our annual compendium of Wealthiest Angelenos and related coverage highlight this week’s Business Journal

Kite Adds Production in Europe

HEALTH CARE: Santa Monica-based biopharma to manufacture in Netherlands

The Santa Monica-based Kite pharmaceutical operation has leased a building in the Netherlands to produce its gene-based cancer therapies in Europe, the company announced last week.

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Duarte Startup Raises $9 Million

HEALTH CARE: Moves HQ from City of Industry

Prolacta Bioscience Inc., a biomedical company that develops human milk-based premature-infant formula, has raised nearly $9 million during a funding round.

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DivcoWest, CalSTRS Put L.A. in JV’s Sights

$300M in new commercial real estate fund

San Francisco-based investment firm DivcoWest Real Estate Services and the California State Teachers’ Retirement System last week said they will include Los Angeles as a target market for a $300 million joint venture for commercial real estate investments.

Live From LAX!

Terminal renovations bring bright spot for travelers, local performers

Dragons, music, dancing. What’s going on at LAX?

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1. Patrick Soon-Shiong

2018 Wealthiest Angelenos

Pharmaceutical and biotech billionaire Soon-Shiong has made his fortune starting, building and selling drug companies: APP Pharmaceuticals for $4.6 billion in 2008, and Abraxis BioScience for $2.9 billion in 2010.

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NBA All-Star Game Gives AEG Sponsorship Boost

$95M worth to start year spread over Staples, L.A. Live, StubHub

AEG scores $95 million in sponsorships.

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Deals & Dealmakers: International Calibre

biozol buy is third life sciences deal for PE firm in last two weeks

StoneCalibre continues deal streak.

Uncertainty at California-China Business Summit

Conference chance to normalize relations amid Trump’s tough trade talk

Dedicate discussions at California-China Summit.

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Snap Replaces CFO With Amazon Vet

Shares continue to dip as number of new users for messaging app disappoint

Snap’s CFO out; Amazon’s former VP in.

2. Elon Musk

2018 Wealthiest Angelenos

Shares of Tesla, Musk’s electric car company, were all over the map as this issue headed to press. Problems with producing its mid-market Model 3, and a recall of Model S sedans over a power steering issue caused a drop.

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3. Sean Parker

2018 Wealthiest Angelenos

Parker added a cool $1 billion plus to his net worth after Stockholm-based Spotify went public through a direct listing on April 3.

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Breaking Bread

Fabienne Souliès – Pitchoun French Bakery & Café

Don’t try to impress the staff at downtown’s Pitchoun French Bakery and Café by approaching the bakery counter to order a bag of fresh pitchouns to go.

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Why Wealth Matters

We don’t track the fortunes of the folks who populate our annual list of Wealthiest Angelenos simply to keep score on the money.

4. David Geffen

2018 Wealthiest Angelenos

Geffen’s name is synonymous with the music industry, and his fortune has grown steadily on investments made following Geffen Records’ sale in 1990.

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5. John Tu

2018 Wealthiest Angelenos

The wealth of Kingston Technology Corp. co-founder Tu tracks largely to his stake in the company, which bills itself as the “world’s largest independent manufacturer of memory products.”

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Musk’s L.A. Play

Plans for SpaceX, Boring Co. call for new role in public sphere

No. 2 Elon Musk is testing his influence on local government.

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Women & Wealth

L.A.’s wealthiest Women Include Business Leaders, Investors, Heirs

Just how far have women come in the business world?

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6. Eli Broad

2018 Wealthiest Angelenos

Broad built his fortune by co-founding KB Home, the sixth-largest U.S. homebuilder, and insurer SunAmerica, which AIG acquired in 1998 for $18 billion. Broad’s diversified holdings — including $3.2 billion in art along with real estate, annuities, etc. — likely saw gains on the generally strong market for most asset classes over the past yea

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7. Stewart & Lynda Resnick

2018 Wealthiest Angelenos

The sole owners of the Wonderful Co. oversee a network of citrus and nut farms and processing facilities spread across more than 120,000 acres in the San Joaquin Valley.

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Cultural Attraction

Affluent lift Los Angeles to new level in art world

Fine art and L.A.’s wealthiest are elevating L.A.’s reputation in the art world.

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8. Steven Udvar-Hazy

2018 Wealthiest Angelenos

Udvar-Hazy is a pioneer of aircraft leasing, a role that started with the founding of International Lease Finance Corp. in 1973.

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