$2.7 billion
up 3.8%
Born in Lebanon, Irani graduated at age 18 from American University in Beirut. He then came to Los Angeles with about $75 in his pocket to study chemistry at USC. He made his initial fortune as longtime chief executive and major shareholder of oil giant Occidental Petroleum Corp. During his 21-year tenure as chief executive, Irani used his overseas connections to expand the company’s reach and presided over a 15-fold growth in market cap to more than $80 billion. Since leaving Occidental in 2011, Irani – who lives in Bel Air – set up a family office in Westwood. Under the Cedar Tree Capital banner, he has worked to grow his portfolio, which includes hedge funds, medical office buildings and self-storage companies. He has also made private equity investments in a wide range of companies, including cybersecurity and robotics firms. But he has almost completely divested from Occidental. Over the past year, his portfolio has seen steady gains. Irani’s immigrant story and success in America is featured in an exhibition space in fellow Wealthiest Angeleno Michael Milken’s Center for the Advancement of the American Dream Museum, which opened in September in Washington D.C. Education: Irani has remained loyal to USC, teaching classes into his 80s. He’s also a “life trustee.” Charitable Activities: At 90, Irani is a major supporter of the House of Lebanon, which promotes the cultural heritage of his native country. He also has given extensively to both USC and UCLA. His wife, Ghada, has been active in UNICEF and efforts to aid refugees from her native country Syria.
