HomeWealthiest Angelenos2022

27. Michael Eisner

By staff-author

September 9, 2022

1154

Net Worth: $3.1 B

LAST YEAR: $2.9 B
CHANGE: 6.9%
AGE: 80
RESIDENCE: Bel Air
SOURCE OF WEALTH: Entertainment/media, investments

THE MONEY: Eisner left his post as Walt Disney Co.’s chairman and chief executive in 2005. Since then, he has stayed active with his private investment firm Tornante Co., which has a portfolio primarily geared toward media and entertainment. Its investments include streaming service Struum, which received $7 million in Series A funding. Eisner also owns Portsmouth Football Club, a team that is in the third division of the English football league system. He has a board seat at IAC, a holding company led by Barry Diller. Eisner’s assets have also gone toward philanthropy in the form of Eisner Foundation Inc., which provides grant money for youth and elderly in L.A.

THE BUZZ: The biggest news to come out of Tornante this year was the company’s sale of collectible and trading card company Topps to online retail company Fanatics for $500 million. Topps was acquired by Tornante and private equity company Madison Dearborn in 2007 for $385 million. Eisner initially intended to take Topps public via a SPAC merger, but that plan was disrupted by Fanatics, which secured trading card rights to Major League Baseball and its players association. The collapsed merger would have been worth more than $1 billion. Tornante kept a confectionary business that was part of Topps.

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