Wealthiest Angelenos: John Shea – #43

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

John Shea

NET WORTH: $880 million +1%

LAST YEAR: $870 million

AGE: 84 RESIDENCE: Pasadena

SOURCE OF WEALTH: Homebuilding, real estate

THE MONEY: Year of treading water for homebuilder. Value of family company J.F. Shea Co. held steady along with stock prices and revenues of rival public homebuilders.

BUZZ: Very private Shea had up-and-down year, marked by death of cousin and partner Edmund in August. Didn’t stop homebuilding unit from buying spree, acquiring cheap development properties in Florida, Nevada and Washington state even as company pulled out of long-stalled 820-acre project in Tustin. Real estate unit opened downtown L.A. office in April. Investment unit sold part of stake in Cayman Islands-based tech firm Fabrinet, which went public. Shea is chairman of J.F. Shea Co., private Walnut company that controls eight businesses. One company owns 6,300 apartment units and 6 million square feet of office, industrial and retail space. Business founded in 1881 by patriarch J.F. Shea. Construction unit built Golden Gate Bridge and Hoover Dam.

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