The 50 Wealthiest Angelenos: Frank & Jamie McCourt #27

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#27 – Frank & Jamie McCourt

Net Worth: $1.29 billion +7%

Last Year: $1.21 billion

Ages: Both 55

Residence: Holmby Hills

Source of Wealth: Real estate, sports



The Money:

Couple among few winners of L.A.? financial elite, with much of credit going to handling of Dodgers. Baseball team they bought in 2004 has seen value rise to $722 million in latest Forbes estimate. Dodgers also cut sweet deal with city of Glendale, Ariz., for new spring training home, valued at roughly $100 million and shared with Chicago White Sox.


Buzz:

Sports power couple, who are celebrating their 30th anniversary, was having time of their lives as team won record number of home games to start season. Then Manny Ramirez was hit with 50 game suspension for taking banned substance. Frank had brought back the superstar at cost of $25 million after facing down superagent Scott Boras, who sought substantially more. During negotiations, Jamie caused a minicontroversy after musing to reporter whether such huge player salaries would be better spent on charity. Couple moving forward with plans to develop retail space around stadium. Plans unveiled last year in entitlement phase and call for construction of shops and restaurants; $500 million proposal not yet funded. Other sports properties acquired over past year include operating rights for Los Angeles Marathon. Couple? personal real estate holdings include Malibu home and 100-acre Cape Cod estate. Jamie recently named to L.A. County Museum of Art board.

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