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The 50 Wealthiest Angelenos: 27. Nicolas Berggruen

THE MONEY: Investor and philanthropist manages family fortune through Berggruen Holdings Inc. Company has interests in diverse industries such as car rental services, for-profit education, hotels, publishing and retail.

BUZZ: Born in Paris, but has dual citizenship in the United States and Germany. Son of wealthy international art dealer, founded Berggruen Holdings in 1985. Long known as “homeless billionaire,” used to move from hotel to hotel, traveling by private jet. Bought two homes last year, one in West Hollywood and another in New York. Sits on board of Los Angeles County Museum of Art. Said to split time between New York and Los Angeles, spends much of his time working at Santa Monica think tank Berggruen Institute on Governance, founded in 2010. Institute last year brought delegation of world leaders to China to meet President Xi Jinping. Launched media venture World Post in January in partnership with Huffington Post. Has joined Giving Pledge and plans to give away majority of his wealth.

NET WORTH:

$1.73 billion s0.1%

LAST YEAR: $1.73 billion

AGE: 58

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Money management, private equity

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