Net Worth: $8.6 B

LAST YEAR: $6 B
CHANGE: 43%
AGE: 79
RESIDENCE: Malibu
SOURCE OF WEALTH: Auto financing

THE MONEY: Hankey’s business roots date to 1972, when his family acquired a 100% interest in the Midway Ford dealership. Fifty years later, his ventures have bloomed into a conglomerate in the form of Hankey Group, a organization of multiple companies spanning the automotive, finance, technology, real estate and insurance sectors. The group has $18.2 billion in assets under management as of this year. Hankey is the chairman and primary stockholder of Westlake Financial Services, one of the group’s seven companies. A new asset of Hankey’s that contributed to an increase in his net worth is NowLake Technology, a fintech company launched by Westlake Technology Holdings and Nowcom Corp. last year. NowLake Technology announced a $15 million investment with Axis Auto Finance Inc. in October.

THE BUZZ: Real estate has been an active sector of Hankey’s in recent times. In October, he purchased a more than 11,300-square-foot oceanfront mansion in Florida for $30.3 million. He also lent home developer Nile Niami $82.5 million for Bel Air mansion “The One,” last year. The mega mansion, which was once marketed for half a billion dollars, was auctioned off in March for $141 million including fees. In July, Hankey told the Wall Street Journal that he likely would recoup all the money he provided for the project. Hankey also has a charity, the Hankey Foundation, that he launched with his wife, Debbie. The foundation had $72 million in assets as of last year.