The skinny on the fat wallets of L.A.’s 50 wealthiest.

Gary Michelson

NET WORTH: $1.45 billion -3%

LAST YEAR: $1.5 billion

AGE: 62 RESIDENCE: Los Angeles

SOURCE OF WEALTH: Surgical devices

THE MONEY: Spinal surgeon and inventor spent charitable foundations’ money faster than investments in energy, distressed real estate and large multinationals could replenish it. Bulk of wealth built on $1.3 billion patent settlement from Medtronic for spinal surgery innovations.

BUZZ: Medical device inventor channels passion and fortune into animal welfare, medical research, environmental reclamation and access to higher education. Found Animals Foundation just opened first pet supply and adoption center at South Bay’s Lakewood Center Mall with hopes of creating model for rescue groups. Continues to offer $25 million award for safe one-time, nonsurgical means to sterilize cats and dogs. Michelson recently tapped former state Sen. Dean Florez to oversee new 20 Million Minds Foundation, which seeks to make digital textbooks available at low cost for struggling community college students. Gary Karlin Michelson Charitable Foundation continues to fund innovators in medical sector. In Panama, Michelson successfully planted more than 40 square miles of teak trees on former clear-cut rain forest. Holds 600 U.S. and foreign patents, many developed in garage lab after finishing rounds at Inglewood’s Centinela hospital. Won Medtronic case in 2005 after jury decided he was shortchanged on royalties. Philadelphia native inspired to become spinal surgeon after grandmother developed rare spinal condition. Lives simply in a sprawling canyon home with growing menagerie of rescue animals.