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Tuesday, Jan 31, 2023
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Wealthiest Angelenos: 11, Stewart & Lynda Resnick

NET WORTH: $4.8 billion, up 20 percent

LAST YEAR: $4 billion

AGE: 78 (Stewart)

RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Agriculture, retail

THE MONEY: California may be in a severe drought, but that hasn’t stopped agri-barons Stewart and Lynda Resnick from reaping profits as demand for almonds and pistachios has increased along with value of their Central Valley cropland, boosting already massive Roll Global fortune.

BUZZ: Americans love pistachios, and Roll Global sold a whole bunch in 2014. Despite slightly lower production numbers than 2013’s record 475 million-pound haul, prices at record highs in the last year. Value of Kern Water Bank increased as drought persisted and a Sacramento judge ruled it would remain privately controlled reserve. Resnicks reportedly control 58 percent stake in Water Bank. Also on the legal front, POM Wonderful division suffered blow in January when U.S. Court of Appeals panel in Washington, D.C., agreed with Federal Trade Commission determination that company made misleading health claims about product. Resnicks, who own notable art collection, also donated four major works in January to the Los Angeles County Museum of Art, which houses entire pavilion bearing their name.

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