#11 – Alan Casden

Net Worth: $2.05 billion -9%

Last Year: $2.25 billion

Age: 63

Residence: Beverly Hills

Source of Wealth: Real estate

The Money:

Casden? real estate portfolio fell like others, but drop cushioned by large portfolio of apartments ?an investment class that has better withstood recession. On average, rents are down by 6 percent at his properties but occupancy rates are up.

Buzz:

Opened Palazzo mixed-use project in October, rare new Westwood development featuring luxury apartments and popular Trader Joe?. Acquired land in the last year in Los Angeles and Ventura counties. Prominent supporter of Jewish causes. Just before President Bush left office he appointed Casden to serve on the Holocaust Memorial Council overseeing the Holocaust Memorial Museum in Washington, D.C. Casden Israel LLC is pursuing plans for luxury apartment tower in Tel Aviv, Israel, that? still in approval process. Casden owns a renowned ancient Jewish coin collection valued at $40 million at last appraisal. Wealth derived from $795 million sale of his apartment portfolio to Apartment Investment & Management Co. eight years ago.