The 50 Wealthiest Angelenos: Donald Sterling – #20

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The 50 Wealthiest Angelenos: Donald Sterling – #20
Donald Sterling

The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Sterling told Business Journal his portfolio of apartment buildings appreciated strongly since last year. Owns 84 buildings in prime markets of Santa Monica, Beverly Hills, Brentwood and Westwood. Forbes valued his Los Angeles Clippers at $295 million, slightly lower than last year.

BUZZ: Once again, controversial year for Sterling, who was back in courthouse. Agreed in fall to pay record $2.7 million to settle allegations he discriminated against African-Americans, Hispanics and families at his apartments. In February 2009, sued by former Clippers General Manager Elgin Baylor, who accused Sterling of being racist; Sterling denies accusation. Trial date could be set in fall. This year, former coach Mike Dunleavy filed for arbitration, alleging team cut off guaranteed salary since dismissing him in March. Clippers again finished in bottom half of league, winning only 29 games. Team seems jinxed. Selected Blake Griffin first overall in 2009 draft, but power forward injured knee before start of season and missed entire campaign. Sterling’s trophy holdings include Beverly Hills Plaza Hotel and headquarters building Sterling World Plaza.

• NET WORTH: $1.81 billion +25%

• LAST YEAR: $1.45 billion

• AGE: 76

• RESIDENCE: Beverly Hills

• SOURCE OF WEALTH: Real estate

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