$1.29 billion 7.5%
LAST YEAR: $1.2 billion*
RESIDENCE: Bel Air
SOURCE OF WEALTH: Occidental Petroleum Corp.
THE MONEY: Net worth rose as value of Occidental Petroleum stock jumped after shareholders voted to block his return as CEO; gains seen in personal investment portfolio. Slight drop in executive compensation of 8 percent to $46 million offset by increase in total Occidental shares held.
BUZZ: Forced off Oxy’s board in May after near revolt among shareholders over his reported attempt to oust his successor as chief executive, Stephen Chazen, amid prolonged stock price decline. Ejection from board comes two years after another shareholder revolt fueled by criticism over outsized compensation package forced him to give up chief executive post. Received $857 million in total compensation between 2000 and 2009, according to Wall Street Journal, ranking him third among all U.S. chief executives for the period. Used portion of funds to launch private investment portfolio now worth an estimated $430 million. In March 2012, named to chemistry faculty at USC, where he has donated heavily and is also a trustee. Born in Lebanon, moved to Los Angeles in 1953. Enrolled at USC; received doctorate in chemistry. Worked as researcher before entering corporate ranks; has more than 150 patents under his name. Came to Occidental in 1983 and succeeded legendary Armand Hammer as chief executive in 1990. Notoriously media shy. Has six children with wife, Ghada.
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