23) David Hearst Jr. (Up arrow)
Age: 53
Residence: Los Angeles
Source of Wealth: Inheritance
Net Worth: $815 million
Last Year’s Rank: 34
Background: One of newspaper magnate William Randolph Hearst’s 10 grandchildren. The Hearst family flies almost entirely under the public radar.
Money Track: Hearst empire grows more powerful every year, with holdings now including 12 daily newspapers, magazines (Cosmopolitan and Esquire), cable channels (Lifetime and ESPN), Avon books and broadcasting units. Empire estimated to be worth $5.7 billion. The 11 remaining direct family heirs receive an annual living stipend ranging from $3.1 million to $12.6 million.
Buzz: More information leaking about the close-lipped family due to a drama currently playing out in a Los Angeles courtroom. David’s cousin, William Randolph Hearst II, has challenged the so-far impenetrable secrecy shrouding the family estate. His attorneys claim that the family heirs should have the right to ask executives of the privately held Hearst Corp. about the estate’s inner workings and holdings. The family has been denied this information for nearly 50 years, when Hearst gave the corporation’s executives near-absolute power to disinherit his own heirs if they interfered with the management of the estate.
