Founder, Meruelo Group

Embracing a turnaround opportunity, Meruelo is re-building the Arizona Coyotes pro hockey team after buying a majority stake a few years ago; it’s a persistent underperformer that, by many estimates, was the National Hockey League’s least valuable franchise when he stepped in. The Coyotes lack a permanent home though that presents opportunities for Meruelo, whose interests include construction. He also has a background in hospitality and gaming, which offer synergies as sports betting gets legalized. Meruelo is a self-made billionaire, whose other interests include radio and TV, real estate, engineering, financial services and achieving turnarounds after buying struggling businesses.

YEARS ON THE LA500: 7