#18 – Jeffrey Greene
Net Worth: $1.58 billion
Last Year: Not on list
Age: 54
Residence: Malibu
Source of Wealth: Real estate, Investments
The Money:
While most of his peers lost huge sums of money, Greene cashed in on the housing bust, famously becoming first individual investor to short subprime mortgage-backed securities using credit default swaps. That play netted him some $800 million and launched him into the ranks of L.A.? billionaires. Real estate mogul maintains significant portfolio of Southern California properties, including apartment buildings and single-family residences.
Buzz:
Grew up in Worcester, Mass., blue-collar family and worked multiple jobs to put himself through Johns Hopkins University and the Harvard MBA program. In housing downturn of early 1990s, lost all of his $35 million net worth, before slowly building it back up. Hedge fund star John Paulson turned Greene on to credit default swaps in 2006. Owns homes in Malibu, Hollywood Hills and Miami, as well as a 145-foot yacht and three private aircraft. Greene and wife, Mei Sze, recently started a charitable organization. Couple expecting first child.
