LA is a wealthy city full of successful entrepreneurs and businessmen that flaunt their wealth and define what it means to be in the 1%. With million-dollar homes and lavish cars, you may be wondering which one of these men tops the charts when it comes to money.
To learn about the richest man in LA and his ten runner-ups, who are not starving, by any means, check out this list!
Patrick Soon-Shiong: The Richest Man in LA
So who is Patrick Soon-Shiong? And why is he so gosh-darn rich?
Patrick Soon-Shiong became the richest man in LA by selling his successful pharmaceutical company APP Pharmaceuticals Incorporated. He invented the drug Abraxane which has proven to combat lung, pancreatic, and breast cancer.
He sold the company for a whopping 3.7 billion, 80% of which went directly into his pocket. His total net worth is $20.4 billion now, according to the LA Business Journal, thanks to wise investments and the beauty of interest.
Soon-Shiong has more money than he knows what to do with but continues to grow his wealth. His resume is massively impressive, including transplant surgeon, billionaire businessman, bioscientist, and media proprietor, alongside pharmaceutical inventor and mogul.
While Soon-Shiong holds the title of the richest man in LA, he is surrounded by several other billionaires and millionaires worth mentioning.
10 Second Richest Men in LA
Los Angeles is a rich city with many celebrities and successful entrepreneurs. If you’re wondering who the wealthiest men in LA are, below are the top ten. But this doesn’t include the richest ladies, so keep that in mind!
Sean Parker
$16.9 billion
If you’ve seen the movie ‘The Social Network’ about the invention of Facebook, or now, Meta, you probably know who Sean Parker is. He invented the popular music streaming site Napster, which has since fallen by the wayside as Apple and Spotify took over the streaming industry.
Nevertheless, he is not living in destitute conditions, with his net worth of $16.9 billion and growing. He began growing his fortune at the ripe age of 19 and continues to find success into his 40s.
David Geffen
$14.2 billion
David Geffen is a film executive, music producer, and all-around business mogul. He founded Asylum Records and DreamWorks, two of the most successful companies in the entertainment industry. He’s worked with huge stars like Madonna and Michael Jackson, helping propel them to success and make him a pretty penny at the same time.
He has impressive collections of art and yachts that he continues to add to, which become assets that count toward his net worth. While Geffen mostly resides in LA, he does have homes all around the world and spends considerable time in NYC as well.
John Tu
$11.1 billion
John Tu is the founder of the successful tech company Kingston Technology, known for making great strides with computer memory and storage. They mainly develop, manufacture, sell and support flash memory products that can help save things in an instant with no disruption to the quality of the content.
While he has amassed an insane amount of wealth, giving him the firm status of a billionaire, he is also a very active philanthropist. He contributes millions of dollars to organizations to improve education in the arts and journalism, specifically.
Edward Roski Jr.
$8.7 billion
Edward Roski Jr. is a billionaire realtor and property developer that made all of his money through real estate and wise investments. He owns more than 83 million square feet of real estate across the United States, making him one of the most successful realty moguls in the world.
He currently owns the Los Angeles Kings and Los Angeles Lakers. Plus, he owns the Silverton Las Vegas, a large casino and hotel on the Strip. He has an immense art collection worth millions, contributing to his billions of assets.
Bobby Murphy
$7.9 billion
Bobby Murphy is only 33 years old but is one of the richest men in Los Angeles thanks to his success with Snap Inc., a multimedia and software company he founded at a young age.
He is an internet entrepreneur and software engineer who had some revolutionary ideas about how to code and use software for new purposes. At one point, he was the second-youngest billionaire in the world, exemplifying his fast success thanks to the internet.
Steven Udvar-Hazy
$6.8 billion
This billionaire made his money through an airplane leasing company called the Air Lease Corporation. The company leases airplanes directly from Boeing to airlines, operating as a super lucrative middle man.
He is known for donating millions of dollars to museums, like the Smithsonian, as he has firm beliefs about the importance of educating people on the history of things like how humans invented airplanes and other modern conveniences.
Evan Spiegel
$6.7 billion
Evan Spiegel is the co-founder of Snap Inc., along with Bobby Murphy. Together, they rose to billionaire status by using new software techniques to build strong multimedia platforms and integrations.
He held the title of the youngest billionaire in the world at one point, as the business developed into the popular mobile app Snapchat. He has dual American and French citizenship but spends most of his time in LA surrounded by the booming tech industry.
Steven Spielberg
$6.6 billion
Everyone knows Steven Spielberg! He’s responsible for some incredible and iconic films such as ET, Gremlins, The Color Purple, Jaws, Jurassic Park, Indiana Jones, Schindler’s List, The Goonies, and many, many more.
If you haven’t heard of him, well, you could say these movies did pretty well, helping him build up his immense net worth. He still makes movies today, such as his remake of West Side Story, so his net worth continues to grow.
Tom Gores
$6.5 billion
Tom Gores owns one of the most successful private equity firms called Platinum Equity. So essentially, he made all of his money by helping to manage and boost other people’s bank accounts, which is a super lucrative job.
He began with cold-calling businesses and acquiring failing companies that he would liquidate or turn around to become profitable. In 2002, he was among the wealthiest Americans and still holds that title today with his $6.5 billion net worth. He has since purchased the Detroit Pistons and continues to grow his wealth via several avenues.
Travis Kalanick
$6.3 billion
You may have heard of Travis Kalanick. Heis the former CEO and founder of the popular rideshare app Uber, but he went through significant controversy and criticism before stepping down from his position and keeping his stocks.
But soon after, in 2017, he sold off more than 90% of his Uber shares, amassing millions of dollars in this single transaction, landing him the last spot on this list as the eleventh richest man in Los Angeles.
Conclusion
Most people will never be a billionaire, but many still wonder about the richest person and how they made their money. Now that you know about the richest man in LA, you can spend your life pondering what one could do with all that money! Shop in Beverly Hills? Buy a mansion in Bel Air? Hop on a private jet to San Francisco, Las Vegas, New York, or New Orleans? Or head to space, like Elon Musk or Jeff Bezos?
