NET WORTH: $2.3 billionAGE: 71RESIDENCE: BrentwoodSOURCE OF WEALTH: Medical devices, investmentsLAST YEAR: $2.2 billionCHANGE: +5%THE MONEY:Michelson’s investment company, Karlin Asset Management Inc. handles more than $1.5 billion in capital across private equity, real estate and venture capital. The company saw gains in the past year, mostly from its private equity portfolio. An orthopedic spinal surgeon, Michelson became a billionaire in 2005 thanks to a $1.35 billion settlement with medical manufacturing giant Medtronic following an extended legal battle over his patents. He invested the payout into Karlin Asset Management as well as several philanthropic ventures.THE BUZZ: Michelson holds more than 955 patents related to orthopedic surgery. He was raised in Philadelphia by his grandmother who suffered from a spinal deformity, which inspired Michelson to become a spinal surgeon. Active on several philanthropic fronts, Michelson’s 20MM Foundation this year launched an effort to reduce the digital divide. Its initiatives include joining the push to provide Chromebooks to 20,000 Los Angeles Community College District students. He has also donated $50 million to USC’s Michelson Center for Convergent Bioscience, which opened in 2017. In 2005, he launched the Michelson Found Animals Foundation, which supports pet rescue efforts.