The Los Angeles Business Journal's annual exercise of estimating net worth and assigning a ranking to the wealthiest LA area residents has once again tabbed investor Patrick Soon-Shiong as number one. It's the eighth year he has led the LABJ list. No change at number two either. Here are the top 10 and their net worth, as published by the LABJ. The whole story, list and package is at the paper's site, behind a paywall.
1. Patrick Soon-Shiong, Brentwood $15.4 billion
2. Elon Musk, Bel Air $13.3 billion
3. Eli Broad, Los Angeles $7.64 billion
4. Sean Parker, Holmby Hills 7.62 billion
5. John Tu, Rolling Hills $7.1 billion
6. David Geffen, Beverly Hills $6.9 billion
7. Sumner Redstone, Beverly Hills $5.5 billion
8. Tamara Hughes Gustavson, Malibu $5.49 billion
9. Stewart and Lynda Resnick, Beverly Hills $4.99 billion
10. Do Won and Jin Sook Chang, Beverly Hills $4.76 million
In the top 10, the paper says that Hughes Gustavson enjoyed the biggest rise this year (up 32.3 percent) and that the Changs took the biggest hit (down 31 percent.) And yes, the LABJ knows that Geffen has declared himself to be a New Yorker these days.
New to the Wealthiest Angelenos list include Jeffrey Katzenberg and Gary Winnick. Falling off include Ryan Kavanaugh and the late Kirk Kerkorian. The list this year is part of a larger package on local money in politics.