Net Worth: $2.2 B

LAST YEAR: 2.15

CHANGE: 1.6%

AGE: 102

RESIDENCE: Hancock Park

SOURCE OF WEALTH: Insurance



THE MONEY: Joseph, who turned 102 on Sept. 11, owns more than one-third of shares in the insurance company he founded, Mercury General Corp. He saw his net worth increase slightly over the past year thanks to cash infusions from quarterly dividend payouts, even though the dividend rate was cut in half. Those infusions offset a 7% drop in shares of Mercury General; the company reported losses in its two most recent earnings reports.




THE BUZZ: Joseph continues to be ranked by Forbes as the oldest billionaire in the world. He served as a navigator on a bomber during World War II and launched Mercury after working as a door-to-door life insurance salesman. The carrier Joseph was working for balked at his idea of moving into auto insurance, so he struck out on his own. Last year, Mercury had 4,300 employees and wrote nearly $4.05 billion in premiums. Joseph was still putting in appearances at Mercury’s headquarters well into his 90s. He and his wife, Vicky, have donated to USC, Harvard University, Cal State Fullerton, Cedars-Sinai Medical Center and Good Samaritan Hospital.