The 50 Wealthiest Angelenos: Gary Michelson – #25

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Michelson with Aimee Gilbreath

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

THE MONEY: Spinal surgeon and inventor’s wealth built on $1.3 billion patent settlement from Medtronic in 2005. Investments in oil futures and energy-related partnerships doing well. Most gains fund philanthropy.

BUZZ: Very busy pursuing animal welfare, medical research and environmental passions. For-profit C&M Investments owns reforested land in Central America, with goal of sustainable harvesting of scarce, valuable hardwood in 20 years. Made news suing former friend and partner for fraud involving Costa Rican properties, but said Panama hardwood interests doing fine. His Found Animals Foundation offering $25 million award for safe, one-time, nonsurgical means to sterilize male and female cats and dogs. Thinks answer to overpopulation may come from genetics research funded through his Gary Karlin Michelson Charitable Foundation. New cause is underwriting creation of low-cost digital textbooks for community college students. Also lobbying Congress for patent reform, something he knows about. Holds 600 U.S. and foreign patents, many developed in garage lab after finishing rounds at Inglewood’s Centinela hospital. Philadelphia native inspired to become spinal surgeon after grandmother developed rare spinal condition. Lives simply in sprawling canyon home with growing menagerie of rescued animals.

NET WORTH: $1.5 billion +4%

LAST YEAR: $1.44 billion

AGE: 61

RESIDENCE: Los Angeles

SOURCE OF WEALTH: Surgical devices