The 50 Wealthiest Angelenos: Robert Day Jr. – #39


The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Founder of L.A investment giant Trust Co. of the West rebounded from rough 2008. Parted ways with French bank Société Générale, which acquired controlling interest in TCW in 2001. Unloaded remaining 300,000 shares at profit. Stakes in oil and gas producer McMoran Exploration and Freeport-McMoran Copper & Gold. Big stock gains for both.

BUZZ: Ended six-year tenure on SocGen’s board under cloud of controversy. Had sold $200 million in bank’s shares in late 2007 shortly before bank revealed $7 billion loss in rogue trading scandal. Move prompted inquiries by SEC but no charges. Day now under investigation by French market regulator for insider trading, which he denies. Remains chairman of TCW, which he founded in 1971. TCW ran into trouble in late 2009 when investors withdrew billions after firm fired star investment officer Jeffrey Gundlach in ugly fight. Grandson of Superior Oil Co. founder William M. Keck, Day also heads W.M. Keck Foundation. Personally donated $200 million in 2007 to alma mater Claremont McKenna College, thought to be the largest gift ever to a liberal arts college. Donated more than $25,000 in 2009 to Republican and Democratic campaigns.

NET WORTH: $840 million +15%

LAST YEAR: $730 million

AGE: 66

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Financial services

No posts to display