#13 – Edward Roski Jr.
Net Worth: $1.9 billion -23%
Last Year: $2.54 billion
Age: 70
Residence: Los Angeles
Source of Wealth: Real estate, development
The Money:
Owner of Majestic Realty Co., with its huge industrial portfolio, didn? escape collapse of real estate market. Blow softened by Majestic? stable, Class A tenants but still had to lower rents. Small stakes in Lakers and Kings sports franchises appreciated slightly along with success of teams.
Buzz:
Roski? grand plans to build 75,000-seat NFL stadium on vacant City of Industry land stumbled a bit. Still no team, and faces lawsuits from neighboring Walnut and citizens group over traffic impacts. Had to buy off Diamond Bar? support with $60 million payment. Developed Staples Center with billionaire Philip Anschutz. Avid mountain climber who has scaled Mount Kilimanjaro. On boards of Los Angeles County Museum of Art, Natural History Museum of Los Angeles County and California Science Center. Large benefactor of alma mater USC. Owns Silverton Casino in Las Vegas.
