Los Angeles Billionaires
Just how many billionaires are there in Los Angeles? It depends on what you consider LA. Some include Orange County and neighboring areas. Others just look at Los Angeles County. According to Forbes, the answer is about 30 and continues to grow. Who is who among Los Angeles billionaires? Where do they live? How much do they have? How did they make their billions? The list is impressive, but here are some some standouts by range.
$8 Billion +
Patrick Soon-Shiong made his billions selling two drug companies. This pharmaceuticals giant is worth $9 billion. Soon-Shiong’s newest company, NantWords has algorithms that can analyze a human genome in an impressive 47 seconds. It’s also developing two cancer drugs.
$6.9 Billion – $7.9 Billion
Eli Broad is an investor worth $6.9 billion. Most notably, he bought Sun Life Insurance and sold it to AIG for $18 billion stock and cash. Broad is known for his philanthropy, having donated more than $3.5 billion to causes.
$5 Billion – $7 Billion
James Stunt is the newest billionaire to call Los Angeles home. Stunt’s net worth is an estimated $5 – $7 billion dollars. He made his fortune in the Gaming, Shipping and Mining industries. He is also an avid collector and private financier. He currently lives in one of the most expensive homes in America, the former Aaron Spelling manor.
$3 Billion – $4.9 Billion
Kirk Kerkorian is a hotel mogul who calls Beverly Hills home. He is worth $3.9 billion. To the shock of many, he recently sold $750 million worth of MGM International Resorts shares. He continues to make investments today, making a $700 million investment Delta Petroleum, which filed for bankruptcy in 2011.
Alec Gores has LA in his bones. He works in Los Angeles and lives in Beverly Hills. His LA equity firm, Gores Group, purchased six companies in 2013 alone. It has acquired 80 companies since 1987.
Did you know?
How many billionaires in Los Angeles have graduate degrees? Nearly none. Most billionaires have no more than an entrepreneurial spirit and a bachelor’s degree.