Different kind of rich list

Rather than dredge out all the usual suspects - Gates, Buffett, Redstone, etc. – Pete Newcomb takes a different slant in the April issue of Vanity Fair that's available online. Newcomb has assembled a list of 50 very rich people who got a whole lot richer in 2007 - windfalls that were the result of stock cash-outs, IPOs, sales of companies, real-estate deals, whatever. Bill Gates ends up in the top spot, the result of dumping $2.5 billion worth of Microsoft stock. But after that, the names get more interesting. For instance, the Chandler family ranks third after picking up $1.7 billion from selling its stake in Tribune. Yeah, them. Jerry Perenchio is fifth after making $1.3 billion for selling Univision. You get the idea. Some other notables of local interest:

4. JAMES JANNARD: $1.3 billion - Sold OC sunglass maker Oakley to Italy’s Luxottica Group for $2.1 billion.

9. LARRY ELLISON: $1.1 billion - Part-time Malibu resident unloaded more than $1 billion worth of Oracle stock.

11. HAIM SABAN: $970 million - Made nearly a billion selling a big piece of German broadcaster ProSiebenSat.1 Media AG.

13. SAM ZELL: $900 million - Yeah, him. He sold his Equity Office Properties Trust to Blackstone Group for $39 billion.

21. SUMNER REDSTONE: $362 million - Sold a bunch of stock.

26. BARRY DILLER: $300 million - Might lose his company next week, but he exercised millions of stock options.

49. RONALD TUTOR: $182 million - Sold a bunch of stock in his construction company, Perini Corp.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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