$1.37 billion +15%Last Year:
Los AngelesSource of Wealth:
The Money: Co-founder and chairman of asset management firm TCW Group. Last year, French bank Societe Generale completed acquiring a 70 percent ownership stake. Day exchanged much of his ownership position for Societe Generale shares, which were up 49 percent in U.S. dollars each of the past two years. Has a stake in the remaining 30 percent of TCW divided among key employees as a retention program.
Buzz: Day owns 2.9 million Soc Gen shares and sits on Paris-based company's board. No longer chief executive of the Los Angeles-based asset management firm he founded in 1971, but signed eight-year employment agreement to ensure continuity. Among his other holdings is Cabo del Sol, a master planned Baja community with a golf course designed by champion golfer and designer Jack Nicklaus that has been called the "Mexican version of Pebble Beach." Day also is chairman of W.M. Keck Foundation, a $1.5 billion non-profit that makes grants for medical research, science and engineering. Inherited money from grandfather William M. Keck, founder of Superior Oil Co. Also has significant stock and income-producing real estate holdings, including 550 acres of Florida timberland. Grandfather's heritage is reflected in some stock holdings with obvious sentimental value: a small oil and gas exploration company and a natural gas conversion company, both of whose stocks have flagged. Conversely, Freeport-McMoRan Copper & Gold Inc., a mining company with major operations in Indonesia, has done quite well. Day sits on the board of all three companies.
*Recalculated to reflect re-evaluation of stock holdings.
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