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Sunday, May 22, 2022

Glazer

39) Guilford Glazer (up arrow)

Age: 77

Residence: Beverly Hills

Source of Wealth: Real estate

Net Worth: $633 million

Last Year’s Rank: 41

Background: Born in Knoxville, Tenn., where he inherited and expanded his father’s welding shop. Moved to L.A. in 1960. Has served on the boards of the Torrance Co., Rand Corp. and First Interstate Bank. Graduate of the University of Tennessee.

Money Track: Got into development by building an apartment house for his widowed mother in 1950. Went on to much bigger projects after that, developing office buildings in Atlanta, Boston and Pittsburgh, as well as Holiday Inns (including one near the Staples Center arena in downtown L.A.), industrial buildings and a shopping center in his native Tennessee. Best known locally for building the 3 million-square-foot Del Amo Fashion Center in Torrance almost 30 years ago, the county’s largest mall, which he still owns.

Buzz: Officially retired three years ago to spend more time with his grandchildren and play golf. But associates say he remains active in the business, as he passes the reigns to his son and daughter. Downtown Holiday Inn property has been incorporated into the 28-acre site where the Staples Center developers plan to build an entertainment district, adjacent to the new arena. To facilitate that future project, Glazer sold developers a minority stake in his Holiday Inn earlier this year. He has also been involved in numerous charities, including the L.A. Holocaust Memorial, the Jerusalem Fund and the L.A. County Museum of Art.

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