Net Worth:
$3.4 billion +36%
Last Year:
$2.5 billion*
Age:
54
Residence:
Beverly Hills
Source of Wealth:
Supermarkets, investments
The Money:
Bagged several big paydays over the past year. Sold 2-year-old stakes in natural foods chain Wild Oats to Texas-based rival Whole Foods Market, and Pathmark Stores to Great Atlantic & Pacific Tea Co. Also saw holdings in Metro PCS soar since the Dallas based wireless provider raised $1.32 billion in an April IPO.
Buzz:
It’s been a busy year for the leveraged buy out king who rose from a grocery bag boy to lead Los Angeles-based holding company Yucaipa Cos. Burkle failed in his attempt with fellow billionaire Eli Broad to acquire Los Angeles Times parent Tribune Co., but Yucaipa still hit the shopping aisles. Source Interlink Co., the nation’s largest magazine distributor which Burkle controls, acquired Primedia Inc.’s specialty magazine group, with titles ranging from Motor Trend to Horse & Rider. Yucaipa also in process of taking over Georgia-based Allied Holdings Inc., nation’s largest hauler of new cars, as part of Allied’s reorganization plan. Yucaipa late last year acquired British jeweler Garrard & Co. Has invested in former Vice President Al Gore’s Current TV, and rapper Sean Jean’s clothing empire. Uses his historic Green Acres mansion in Beverly Hills and an estate in La Jolla to raise millions of dollars for Democrats. Former president Bill Clinton, the Rev. Jesse Jackson and former Los Angeles Times publisher Jeffrey Johnson are among movers-and-shakers who serve as Yucaipa advisors.
*recalculated to better reflect past gains
