$1.18 billion 12%
LAST YEAR: $1.05 billion
RESIDENCE: Holmby Hills
SOURCES OF WEALTH: Communications, real estate, private equity
THE MONEY: Has money spread out across several categories through Mapleton Investments LLC: chiefly real estate, art, and stocks and bonds. First two categories had “a very good year,” he told the Business Journal, particularly his vast collection of pop art, which continued to accrue value. Made more investments in high-end real estate, including an apartment building in Seattle near Space Needle.
BUZZ: Founded cable TV operator Falcon Communications in 1975; sold in 1999 to Microsoft co-founder Paul Allen for $3.7 billion. Now far more involved in politics, philanthropy and art than in business world. Longtime arts patron endows with wife, Jane, an artist-in residence seat at Aspen Art Museum. Gallery on ground floor at Broad Contemporary Art Museum at Los Angeles County Museum of Art named for couple. Political relationships run national and local. Friend of the Clintons; appointed by Hillary Clinton to board of the East-West Center in Honolulu. Backed former San Fernando Valley Rep. Howard Berman in his losing bid for another term; gave $90,000 to a Super PAC affiliated with the candidate. Has also contributed, along with fellow L.A. billionaires Stewart and Lynda Resnick and Eli Broad, to Coalition for School Reform – group seeking to influence elections for Los Angeles Board of Education. Personal friends with Resnicks; Stewart is executor of his estate.
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