#12 – John E. Anderson
Net worth: $2 billion -29%
Last year: $2.8 billion
Age: 91
Residence: Los Angeles
Source of Wealth: Beverages, auto dealerships, financial services, real estate
The Money:
Owner of Topa Equities holding company admits taking big hit over past year, especially from 14 auto dealerships. Doesn? own any Chrysler lots, but does have struggling Hummer and discontinued Pontiac brands. Insurance and beverage distribution businesses faring better.
Buzz:
Anderson, 91, said all his companies profitable but has personally cut back on travel to conserve expenses. Topa has 34 companies that employ 2,169 people. Beverage distribution holdings had one of their best years, according to Anderson, as people consumed less hard alcohol and more beer. Topa distributes Budweiser and other big brands in Los Angeles and elsewhere. Said low debt-to-equity ratio on Westside real estate holdings has protected him from any sell-offs. Also owns property in Hawaii and Virgin Islands. Son of Minneapolis barber went to UCLA on hockey scholarship and awarded bachelor? in business. Enlisted in Navy during World War II. Has MBA from Harvard and law degree from Loyola. Anderson and wife Marian big supporters of Childrens Hospital Los Angeles, where she sits on board. Anderson said he tries to ?TRT ?do the right thing?and makes monthly contributions to charitable foundations supporting Childrens Hospital and namesake UCLA Anderson School of Management.
