$10.5 billion
up 10.5%
Hankey, 82, began his climb up the ladder at his family’s Midway Ford Dealership, making subprime auto loans during the late 1950s. Hankey eventually sought to form Westlake Financial, an auto lending business based in Mid-Wilshire which now works with over 30,000 car dealerships across the country. Riding the wave of his success, Hankey rapidly expanded his business – now known as the Hankey Group. His company – comprised of eight operating entities – has an annual growth rate of 20%, and it’s projected to reach $29.1 billion in assets by 2026. Westlake Financial as well as companies including Hankey Investment Co., Hankey Capital, Nowcom Corp., Midway Auto Group and Knight Insurance Group make up the Hankey Group, which focuses on the automotive, finance, technology, real estate and insurance industries. Standout local properties from Hankey Investment Co. include the Park Mile Center in Hancock Park, Marina Business Center I and II in Del Rey, and the Agoura Tech Center in Agoura Hills. Hankey continues to live in Malibu. Diversifying revenue: Early this year, Hankey Group debuted a new lending program where those purchasing real estate and highline vehicles can use Bitcoin as collateral. Diversifying investments: The group’s investment arm is also involved in a few projects currently under development: Lankershim Crossing, a North Hollywood mixed-use project which will produce 432 apartments alongside 22,000 square feet of retail space; and Kurve on Wilshire, another mixed-use development with 644 apartments and 15,550 square feet of retail space in Westlake.
