THE MONEY: Net worth unchanged from 2013 as 5 percent rise in Occidental share price more than offset by 9 percent drop in number of unrestricted shares owned. Severance payout offset by his loss of executive compensation.
BUZZ: Forced to watch from sidelines after being kicked off Occidental’s board last May as successor Chief Executive Stephen Chazen began dismantling oil and gas empire Irani had built up in more than 20 years at helm. First came announced intent to sell chunk of overseas operations; Occidental said in February it would spin off California operations and move corporate headquarters to Texas. Downfall at Occidental began in 2011 with shareholder revolt over outsized compensation package ($857 million in total compensation between 2000 and 2009, according to Wall Street Journal) and culminated in failed attempt early last year to oust Chazen as chief executive. Used compensation and dividend payouts to launch personal investment portfolio now worth roughly $480 million. Born in Lebanon, moved to Los Angeles in 1953; received doctorate in chemistry from USC. Worked as researcher, amassing more than 150 patents before joining corporate ranks. Came to Occidental in 1983 and succeeded legendary Armand Hammer as chief executive in 1990. Recently set up personal office in Westwood.
$1.29 billion t0.4%
LAST YEAR: $1.29 billion
RESIDENCE: Bel Air
SOURCE OF WEALTH: Occidental Petroleum Corp.
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