Net Worth:

$820 million

Last Year:

Not on list

Age:

85

Residence:

Beverly Hills

Source of Wealth:

Real estate

The Money:

Glazer, like others with large property holdings, had a good year as his investments continued to appreciate. His Torrance Co. owns a wide range of commercial real estate. Holdings have included local Holiday Inns and a stake in Pittsburgh’s Alleghany Center.

Buzz:

Big payday came in 2003 when Torrance’s 2.1 million-square-foot Del Amo Fashion Center, acquired in 1971 and expanded, was sold for $442 million to Mills Corp. The shopping center was the largest mall in the United States until 1992 when it was eclipsed by Mall of America in Minnesota. Glazer’s primary investment vehicle, Torrance Co., is still in operation but several properties have been sold off over the years. Aging Alleghany Center, no longer a retail mall, has been remade in recent years into a “telecom hotel” housing telecommunications companies switching equipment. The Tennessee native and son of a welder dropped out of college after Pearl Harbor to join the military. Returned home after the war to run family steel business. Entered retail arena when one of his companies was selected in 1951 to build a shopping center in Oak Ridge, Tenn. Built large multi-state mall and apartment portfolio starting with an apartment building for his mother. Moved to Los Angeles in the 1970s. Longtime financial supporter of Israeli causes and a proponent of economic development in order to achieve Palestinian peace. In 2005 he funded a $2 million Rand Corp. study on rebuilding Palestinian public transportation infrastructure.