Net Worth: $7.5 B

LAST YEAR: $8 B
CHANGE: -6.3%
AGE: 76
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Aircraft leasing

THE MONEY: Udvar-Házy’s sizable stock and bond portfolio took a hit amid the market selloff earlier this year. His stake in the company he heads, Air Lease Corp., fell about 11% in value as the company grappled with an $800 million write-down for jets stranded in Russia after its invasion of Ukraine and other market challenges. These losses were trimmed by gains across most of the rest of his portfolio, including private equity holdings, his art collection, two private Gulfstream jet planes and real estate. He got a substantial pool of money from last year’s auction sale of his Beverly Park estate dubbed Villa Firenze: total sale price for the estate and adjoining structures was $60 million.

THE BUZZ: Aircraft leasing pioneer Udvar-Házy founded International Lease Finance Corp. in 1973. He sold the company to American International Group in 1990 for $1.3 billion, staying on as chairman and chief executive until 2010. Udvar-Házy then launched Air Lease, where he’s now executive chairman. During the Covid-19 pandemic, Air Lease found ways to restructure leases and took advantage of airlines using the opportunity to modernize their fleets with more fuel-efficient planes. But when the United States and NATO countries imposed sanctions on Russia, 27 of the company’s planes were stranded in Russia and ultimately nationalized. The company is now girding for battle with insurers over whether the insurance policies should cover the losses; Udvar-Házy has said publicly he is confident of the company’s chances of prevailing.