Locals on Forbes latest list of billionaires

The world is filled with lots of extremely rich people - consider that Charles Munger, L.A.-based co-chairman of Berkshire Hathaway and Warren Buffett's longtime partner, has a net worth of $1 billion, according to Forbes, and is ranked at a lowly 1,153. At least one unfamiliar name that's living in L.A.: Jeronimo Arango, who shares a $4 billion fortune with his family (they sold their stake in retailer Cifra to Wal-Mart's Mexican arm). He's #276. Patrick Soon-Shiong is tops among L.A. residents, at $7.2 billion. Also worth noting: Do Won Chang,the founder of Forever 21 (with his wife Jin Sook), has a net worth of $4 billion - and only has a high school diploma. Other L.A. names:

--157 Eli Broad
$6.3 B 78 investments United States

--184 David Geffen
$5.5 B 69 movies, music United States

--242 Sumner Redstone
$4.4 B 88 Viacom United States

--276 Jeronimo Arango & family
$4 B 86 retail Mexico

--276 Jin Sook & Do Won Chang
$4 B 57 retail United States

--330 Steven Udvar-Hazy
$3.4 B 66 aircraft leasing United States

--344 Kirk Kerkorian
$3.3 B 94 casinos, investments United States

--377 Steven Spielberg
$3 B 65 movies United States

--401 Haim Saban
$2.9 B 67 television United States

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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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