$2.6 billion +15%Last Year:
Toluca LakeSource of Wealth:
The Money: Chief executive of Majestic Realty Co., one of the nation's oldest and largest privately held real estate companies and largest commercial developer in Southern California. Net worth is fed by rising value of industrial office parks here and several other states. Portfolio exceeds 70 million square feet, much of it in warehouse and distribution space as international trade booms at the ports.
Buzz: His industrial business parks here and in Vegas are regularly signing leases for warehouse and distribution space in the tens of millions of dollars. Branched into gaming a few years ago on Vegas Strip with Silverton Casino, which is undergoing a $150 million expansion. Former USC football player also is part owner of pro hockey's L.A. Kings and has a small stake in the L.A, Lakers, second most valuable team in the National Basketball Association. Oklahoma native grew up in Westchester, earned bachelor's degree in finance at USC and served in the Marines before joining family business in 1960s. Expanded Majestic exponentially, hitting it big in industrial development in City of Industry, Commerce and Chino. The company also developed Staples Center with Denver billionaire Philip Anschutz, a relationship that created opportunities for his sports team investments. Avid mountain climber, has scaled Mount Kilimanjaro. Also active on boards of L.A. County Museum of Art, California Science Center and USC. Majestic Realty Foundation beneficiaries have included Walt Disney Concert Hall, Cathedral of Our Lady of Angels and the Boys and Girls Clubs. Honored this year as Business Journal's Businessperson of the Year.
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