The richest Angeleno on last year’s list is nowhere to be found this year. That’s not because Rupert Murdoch is any poorer. It’s because, like many wealthy people who exert a huge influence in Los Angeles, he lives here only part time.

Murdoch is one of a group of moguls whose members include entertainment tycoons Barry Diller, Kirk Kerkorian and Edgar Bronfman Jr., Microsoft Corp. co-founder Paul G. Allen and real estate magnate Sam Zell. They all have homes in L.A. generally Beverly Hills or Malibu and, in most cases, major investments here.

But none is actually based here.

“Los Angeles is a place people want to be part of the year. That’s why you have this increased New York-L.A. access happening,” said Linda May, executive director of Coldwell Banker’s Beverly Hills office. “You have this whole L.A. ambiance. It’s definitely a pulse point in the world. People want to be here. It’s chic to be here.”

For some moguls, such as Bronfman and Diller, having an L.A. address is a business necessity.

“If they run an international business, they will spend time in L.A.,” said Realtor Fred Sands. “It could be anything from a high-rise penthouse to a big mansion.”

But for many of the super rich, their L.A. pads serve more as a getaway spot than a place to crash at the end of the workday. That’s because places like Malibu offer a level of privacy that New York, or even the Hamptons, don’t have, May said.

“People can come out here and be very casual, drive a car and go places without being jumped on. They can do dinner and a screening at a friend’s,” May said.

Entertainment is a major magnet. Bronfman, chief executive of Montreal-based Seagram Co., has a primary residence in New York, as well as a home in Malibu. The sometime filmmaker and music buff, whose net worth is estimated at $2.8 billion, spends considerable time in L.A. since he bought control of Universal Studios.

Bronfman retooled the company by getting rid of its television arm, cutting back on movies and then buying PolyGram, making it the biggest music company in the world. He is taking a hands-on approach to managing his entertainment holdings, meaning he has little choice but to spend time in Los Angeles.

Diller, whose primary residence is also New York, frequently travels to L.A., where he stays at his home in Beverly Hills. The chairman and chief executive of USA Networks (whose net worth is $425 million) acquired Universal’s television assets last year and has other investments here, including Ticketmaster Group Inc.

In fact, Ticketmaster has drawn Diller to L.A. on a weekly basis lately. Earlier this month, USA Networks called off plans to buy Lycos, but signed a deal to partner Pasadena-based Ticketmaster Online-CitySearch with the Internet portal company.

The deal falls short of Diller’s original plan to build a $22 billion e-commerce and home shopping company. But he is nonetheless pushing for Ticketmaster to become a powerhouse.

Another big name drawn to L.A. is Paul Allen, reportedly the third-wealthiest person in the United States with a net worth estimated at $22 billion.

Allen’s principal residence is in Mercer Island, Wash., but he bought a 120-acre Beverly Hills estate for a reported $20 million. While that property is being renovated, he stays at a $9 million Beverly Hills mansion he bought a couple of years ago.

Allen has vast media and technology holdings here, including a $660 million stake in DreamWorks SKG (at 24 percent, he’s the studio’s largest shareholder). He also acquired L.A.-based Charter Communications last year.

Not all high-powered part-timers are drawn by the entertainment industry.

Sam Zell, chairman of Chicago-based Equity Office Properties Trust, bought a home in Malibu last year for $13 million. The home was designed by John Lautner, one of Frank Lloyd Wright’s apprentices, and has 400 feet of beach frontage. He flies here on his Gulfstream IV a couple of times a month using Camarillo Airport, the closest all-weather airport to his home.

Zell’s empire includes office properties, apartments, mobile-home parks, radio stations, cruise ships, an insurance company and wiring company. And Equity owns six office buildings in Los Angeles.

Then there are the part-timers who don’t have a permanent residence in town, such as Sumner Redstone, chairman and chief executive of Viacom Inc. His primary residence is Newton Centre, Mass. When Redstone, who is estimated to be worth $6.4 billion, stays in L.A., it’s in a hotel.