Chairman, Mercury General Corp.

Joseph, who turned 101 on Sept. 11, is one of the four oldest billionaires in the world. He founded Mercury in 1961, and was the company’s chief executive for 45 years, through 2006.  He and his ex-wife Gloria collectively own more than 50% of Mercury’s common stock. His son, Victor Joseph, was appointed Chief Operating Officer in January 2022. Mercury, a public company with a market value about $1.75 billion, sells personal, auto and homeowners’ insurance through independent agents. The Mid-Wilshire-based company reported $3.64 billion in revenue last year and has more than 9,400 agents in 11 states. Joseph navigated a B-17 bomber during World War II and earned math and physics degrees from Harvard University.

YEARS ON THE LA500: 6