These Are L.A.'s 50 Richest Richies (Spoiler: Sterling Made the Cut. Again.)
Donald Sterling, former owner of the Los Angeles Clippers
Lucy Nicholson for Reuters/Newscom
Attention class warriors: The Los Angeles Business Journal just came out with its annual Wealthiest Angelenos list of 2015, and it is mildly interesting!
South African–born surgeon and health care maven Patrick Soon-Shiong tops the list once again with a net worth of $15.3 billion, up $1.4 billion from a year ago. But coming up fast on his heels is Bond villain Elon Musk, founder of Tesla and PayPal and SolarX and so on. Musk made more than $4 billion in the last year, according to the LABJ, boosting his net worth to a respectable $13.9 billion.
The top-10 list includes longtime L.A. richies Eli Broad, David Geffen and Sumner Redstone. The one newcomer is 35-year-old Sean Parker, who founded Napster and was an early investor in a little company called Facebook – he was played by Justin Timberlake in that movie. Apparently, Parker moved to L.A. sometime in the last year.
Here's the top-10 list:
1. Patrick Soon-Shiong: $15.30 billion
2. Elon Musk: $13.90 billion
3. Eli Broad: $7.64 billion
4. David Geffen: $6.95 billion
5. Do Won “Don” & Jin Sook Chang: $6.88 billion
6. Kirk Kerkorian: $6.53 billion
7. John Tu: $6.46 billion
8. Sumner Redstone: $5.70 billion
9. Sean Parker: $5.60 billion
10. Ed Roski: $5.10 billion
Here are some other notable Richies in the top 50:
• Donald Sterling fell from No. 10 to No. 19, despite his net worth increasing by more than a billion dollars – fueled, no doubt, by that $2 billion sale of the Los Angeles Clippers. He's listed along with his wife, Rochelle (aka Shelly), to whom he's still married. And he can't be giving it all away to his girlfriend anymore, either.
• Michael Milken, the junk-bond king who did 22 months in prison for racketeering and securities fraud in the early 1990s. He had quite a good year, gaining $250 million or so in net worth, and jumping from No. 34 to No. 26.
• Snapchat founder Evan Speigel, who is all of 24 years old and is worth $1.5 billion, making him the 39th richest Angeleno (he's new to the top 50), as well as the world's youngest billionaire.
• Investor Bruce Karsh, who's the chairman of the L.A. Times' parent company, Tribune Publishing, is No. 29, with a net worth of $1.89 billion. Karsh was expected to sell off the newspapers – it's a tough industry to make money in, as you may have heard – but has instead held on to the papers and even bought some new ones.
• L.A.'s richest woman is Tamara Gustavson, whose dad founded Public Storage. She's worth $4.15 billion, and is the 13th richest Angeleno. The second richest woman is Marion Anderson, who just gave $100 million to UCLA's graduate management school as if it was no big deal.
• Only three people on the list actually saw their net worth decline in the last year: Kirk Kerkorian, Nicolas Berggruen and Sumner Redstone, who lost more than a billion dollars and fell from No. 3 to No. 8. Ouch!
• The Journal notes two L.A. newcomers who narrowly missed out on the top 50 with only $1.1 billion: Jay-Z and Beyoncé Knowles.
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