NET WORTH: $1.05 billion +11%
LAST YEAR: $950 million
RESIDENCE: Holmby Hills
SOURCE OF WEALTH: Communications, real estate, private equity
THE MONEY: Diversified but conservative investments that include stocks, commodities, real estate, and oil and gas limited partnerships were up about 10 percent in the past year. “The real estate sector, particularly in Southern California, has stabilized and is doing a little better,” he told the Business Journal.
BUZZ: Cable TV entrepreneur and philanthropist keeps a low profile these days, mostly overseeing investments through Mapleton Investments family office. Made fortune in media, starting Falcon Communications in 1975 and selling to billionaire Paul Allen in 1999 for $3.7 billion. Sits on boards of Aspen Institute, UCLA Anderson School of Management and Los Angeles Philharmonic. Art collector owns Warhols and Lichtensteins, and has donated $10 million to Los Angeles County Museum of Art with wife, Jane, who sits on museum’s board. Democratic donor and longtime friend of the Clintons considered for ambassador post in Obama administration but declined. Recently appointed by Secretary of State Clinton to East-West Center board. Vice chairman of non-profit National Democratic Institute. Sold cable door to door while student at University of Denver and started Falcon at 28. Now chairman of Falcon Waterfree Technologies, waterless urinal maker he helped start. Sons Adam and David went into media industry. Adam handles portfolios for Mapleton.
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