$3.55 billion 54%
LAST YEAR: $2.3 billion
RESIDENCE: Los Angeles
SOURCE OF WEALTH: Real estate, development
THE MONEY: Chairman and chief executive of developer Majestic Realty Co. benefited from booming recovery in industrial real estate market. Minority owner of Los Angeles Lakers, Kings and Staples Center also saw small gains in sports holdings.
BUZZ: Might have gained advantage in landing National Football League team for Los Angeles now that rival AEG appears to be dropping its downtown L.A. stadium proposal. Has failed to bring football team to Los Angeles since announcing plans late last decade. Reportedly been in discussions with Los Angeles Angels to move team from Anaheim to as-yet-to-be-built Industry stadium site. Still working on 500-acre industrial park in Bethlehem, Pa. Majestic recently dropped by University of Nevada Las Vegas in its plans to build a $900 million, 60,000-seat stadium. Company was to contribute $360 million toward a 3,000-residence student village for the university, also not going forward. Purchased 88 acres of land in Pleasant Prairie, Wis., to build 1.2 million-square-foot warehouse distribution center. Vietnam vet has two Purple Hearts and member of famed Explorers Club.
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