Net Worth:
$1.3 billion +37%
Last Year:
$950 million Ages: 69
Residence:
Beverly Hills
Source of Wealth:
Collectibles,agriculture
The Money:
Estimated revenues were up 72 percent to $1.5 billion in 2006 for Resnick’s holding company Roll International Corp. The company’s portfolio includes POM Wonderful, almond and pistachio producer Paramount Farms, Paramount Citrus and Fiji Water. Last year sold off Franklin Mint for undisclosed price.
Buzz:
Pomegranates have proven to be one of the biggest winners for Resnick and his wife Lynda. They began buying up and planting pomegranate groves in 1996 and continue to reap rewards from the POM Wonderful brand, which has been a popular drink. The company has also developed patent-pending pills and concentrated liquids to deliver the fruit’s antioxidants. Paramount Farms is the nation’s largest almond and pistachio grower and processor. Marketing under the Sunkist brand allows Paramount to charge a premium. Pistachio prices dipped last year from their 20-year high in 2005, but almond farmers are reporting record crops for 2007 with income expected to increase $250 per acre. Paramount Citrus may have taken a hit as California’s orange growers reported $640 million in damage due to last winter’s freeze. Other holdings include Fiji Water, the nation’s second largest bottled water importer, and floral wire service TeleFlora. Last October Resnick sold the Franklin Mint to a group of investors led by Morgan Mint executive Moshe Malamud and Steven Sisskind. He had purchased the collectibles company 20 years earlier. Since purchase price was undisclosed, effect on net worth unknown. Big supporter of Democratic Party, contributing to campaigns for party’s presidential frontrunners.
