Net Worth: $1.23 billion, down 7.7 percent
LAST YEAR: $1.29 billion
RESIDENCE: Los Angeles
SOURCE OF WEALTH: Software
THE MONEY: No disclosed holdings outside of El Segundo software firm National Center for Crisis and Continuity Coordination (NC4). While firm doesn’t disclose financials, results for similar companies not as lucrative as prior year. However, Chernick’s other holdings likely grew.
THE BUZZ: Has been active in crowdfunding space, launched El Segundo firm NextGeneration Crowdfunding in fall. Platform serves as educational resource for consumers and startups navigating Securities and Exchange Commission rules. NextGeneration also hosts crowdfunding conferences. Chernick told Business Journal he started venture to help startups get discovered by potential business partners and financial backers. Tech veteran also made $5.5 million investment in StartEngine this year. Started Candle Corp. in 1976 out of Marina del Rey apartment. Sold business in 2004 to IBM for $641 million. Later founded NC4, maker of situational awareness and threat-detection software used by law enforcement agencies and military. He and wife, Joyce, keep low profile but have continued to focus philanthropic work on conservative causes, education-focused nonprofits, and pro-Israel groups.
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