Net Worth:
$900 million -1%
Last Year:
$910 million
Age:
51
Residence:
Beverly Hills
Source of Wealth:
Telecommunications, investments
The Money:
Former Qualcomm Inc. chairman maintains a significant stake in San Diego-based wireless communications giant, whose shares have fallen 14 percent in past year. However, gains in other businesses operated through investment firm Omninet Capital, where he is a partner and chief executive, partially offset Qualcomm decline, according to a spokesman.
Buzz:
It was a mixed year both financially and personally for Kadisha. Stake in Altra Inc., a Los Angeles-based ethanol producer that raised $50 million last year from Omninet and other investors, has grown in value. Also a majority shareholder of Sky Las Vegas, a $325 million condominium project on Las Vegas Strip completed this year. Is largest shareholder in Vernon-based PWP Industries, which make PETE plastic food containers. Kadisha, though, suffered adverse publicity when an L.A. judge ruled in December that he misappropriated millions of dollars in trusts meant for a family friend money allegedly used to buy his stake in Qualcomn. Kadisha’s attorneys noted the trusts grew in value from $6 million to $27 million over the 12 years he oversaw them. Initial $100 million judgment has been reduced to $65 million, but Kadisha continues appeal. Retired in 2002 from Qualcomm board served on since 1988. A Jewish Iranian immigrant, donates to Israeli and U.S. charities for homeless teenagers, abused children and school reform.
