It’s all about the money. At least it is this week.
The arrival of our annual Wealthiest Angelenos issue gives us the chance to look closely at some really, really big money, and at the people behind those really, really big fortunes.
Whether you call them head-spinning or eye-popping or just plain huge, it’s impossible to ignore these numbers.
Like $221 billion. That’s the combined worth of the 50 billionaires on this year’s list. And yes, that’s higher than the number posted by last year’s group.
There’s also $22.6 billion. That’s the current valuation of Elon Musk’s fortune, which places him at the top of our list and makes Musk the richest person in Los Angeles.
Serial entrepreneur Musk reached this rarified atmosphere largely on the strength of SpaceX’s performance over the past year. Gains by the company, which is now worth more than $33 billion, helped Musk increase his wealth by 15%, up from $19.6 billion on the 2018 list.
Then there’s $19.1 billion. That’s the total for Patrick Soon-Shiong, who topped last year’s list but slipped to second place in 2019 after his health care and pharmaceutical companies ran into some rough road. As consolation prizes go, finishing just short of $20 billion isn’t bad.
We’re also looking at $1.5 billion. That, essentially, was the price of admission for this year’s list. When we decided to limit the 2019 Wealthiest Angelenos roster to 50 billionaires, adding an element of competition to the otherwise refined affair, that became the cutoff.
There are also numbers worth noting this year that aren’t monetary.
Such as 98. That’s the age of George Joseph, the oldest member of the Wealthiest list. Joseph is the oldest billionaire in the United States, according to Forbes.
And there’s 29. That’s the age of Evan Spiegel, the youngest name to make this year’s group. The Snap Inc. founder edges out fellow Snap exec and Wealthiest Angeleno Bobby Murphy, who is 31.
Another number that commands attention is 123%. That’s the year-over-year gain posted by In-N-Out Burger heiress Lynsi Snyder. Under her leadership, the chain has continued to expand beyond its Southern California roots, and Snyder has reaped the rewards, more than doubling her fortune in the past year.
