Net Worth: $9.0 B

LAST YEAR: 8.6

CHANGE: 4.7%

AGE: 80

RESIDENCE: Malibu

SOURCE OF WEALTH: Auto financing



THE MONEY: Hankey began closing deals on the lot of his family’s Midway Ford dealership in the 1970s. Over the next 50 years he built an empire based largely on subprime auto lending but that includes a conglomerate of companies under The Hankey Group name spanning the automotive, finance, technology and real estate industries. Hankey oversees over half a million car loan accounts through his anchor business, Westlake Financial Services. Just this year alone the organization’s assets have grown 24%, from $18.2 billion to $22.6 billion as of the second quarter. Described as “returns obsessed,” Hankey operates with strict rules for all his businesses: achieve a 30% pretax return on equity and 20% revenue growth annually.



THE BUZZ: As in any ugly divorce, turns out “The One” didn’t have a strong enough foundation for long-term commitment. This, of course, refers to the Bel Air mega mansion project considered the most extravagant residential real estate dud seen in recent Los Angeles history. Hankey was one of the main financiers for the project, making three loans totaling more than $100 million to the home’s development company. Hankey reported he got all his capital commitments back after the property was auctioned off last year. Since then, Hankey’s real estate arm has delved into other developments in more urban parts of Los Angeles. Most recently, the Hankey Investment Co. filed for a 163-unit apartment project in Koreatown in July.