NET WORTH: $1.8 billionAGE: 85RESIDENCE: Bel AirSOURCE OF WEALTH: Petroleum, investmentsLAST YEAR: $1.7 billionCHANGE: +6%THE MONEY: Irani, who served as chief executive at Occidental Petroleum Corp. from 1990 to 2011, continued to reduce his stake in Occidental and diversify his portfolio over the past year. Occidental shares now comprise less than 5% of his portfolio, down from 25% last year. That’s a good thing for Irani, as Oxy’s share price lost 70% of its value from July 2019 to July 2020. Gains in his real estate, private equity and alternative investments more than offset the Oxy decline, leading to a slight gain in his net worth. Irani also continues to make philanthropic donations.THE BUZZ: Irani works out of a Westwood family office where he oversees investments in medical office buildings, assisted-care and self-storage facilities, and leasing of shipping assets, among other investments. One of the companies he invested in went public, and by June, his stake was worth more than $100 million. Born in Lebanon, Irani came to L.A. at age 18 to study chemistry at USC. He provided $20 million toward a residential college at USC Village, is a member of the USC board of trustees and was named to the chemistry faculty. At start of the Covid-19 outbreak, Irani made a seven-figure donation to the UCLA Health system to help acquire personal protective equipment.