$3 billion
11.1%
A former orthopedic spinal surgeon, Michelson attained billionaire status through a lawsuit with Medtronic over his patents in 2005. The legal settlement delivered the doctor a $1.5 billion payout. That same year he formed Karlin Asset Management – his middle name is Karlin – to manage his wealth. It deals in real estate, venture capital, private equity, natural resources and direct lending. Karlin’s real estate operations focus on life science, technology and related tenants with a portfolio that includes office properties in Sacramento, Austin, Texas and Raleigh, North Carolina. Michelson Patents, an online database, lists 340 U.S. patents held by the doctor ranging from medical devices to surgical techniques. Philanthropy: The Michelson Found Animals Foundation distributed 17 tons of donated Purina dog food in the aftermath of the L.A. fires in January. Michelson Philanthropies encompasses three foundations, two nonprofits and Michelson Impact Ventures, a social change investment fund. Michelson, 76, and his wife Alya have committed $120 million to the California Center for Immunology and Immunotherapy at UCLA Research Park, currently under construction at the former Westside Pavilion retail hub. In 2016, the Michelsons signed the Giving Pledge, a campaign launched by Bill Gates and Warren Buffett, encouraging centimillionaires and billionaires to contribute the majority of their fortunes to philanthropy. Family: Alya was born in Russia but grew up in Ukraine. A journalist and singer, she sits on the California Film Commission and co-chairs Michelson Philanthropies.
