Net Worth: $2.71 B

LAST YEAR: $2.6 B
CHANGE: 1%
AGE: 73
RESIDENCE: Brentwood
SOURCE OF WEALTH: Medical devices, investments

THE MONEY: Michelson’s investment company, Karlin Asset Management Inc., handles more than $1.4 billion in capital across private equity, real estate and venture capital. The portfolio saw a slight gain of 1% over the past year. The largest gain was from the commercial real estate arm. An orthopedic spinal surgeon, Michelson became a billionaire in 2005 thanks to a $1.35 billion settlement with medical manufacturing giant Medtronic following an extended legal battle over his patents. He invested the payout into Karlin Asset Management as well as several philanthropic ventures.

THE BUZZ: Michelson holds more than 955 patents related to orthopedic surgery. He was raised in Philadelphia by his grandmother, who suffered from a spinal deformity, which inspired Michelson to become a surgeon. He is active on several philanthropic fronts, with three foundations and two nonprofits under his Michelson Philanthropies banner. Last year, the Michelson Found Animals Foundation co-funded a report that laid the groundwork for a pet-inclusive rental housing initiative aimed at convincing more landlords to accept tenants with pets.