CALIFORNIA’S REAL ESTATE BILLIONAIRES – DONALD STERLING IS INTO APARTMENT BUILDINGS HE WAS INTO THE CLIPPERS

December 20, 2014 on 10:24 pm | In Fascinating Information, Funny...Money, Statistics, Uncategorized | 1 Comment

#994 Donald Sterling

Net Worth: $1.9 Billion

Age: 78

Source Of Wealth: real estate, Self Made

Residence: Beverly Hills, CA

Citizenship: United States

Marital Status: Married

Children: 3

Education: Doctor of Jurisprudence, Southwestern Law School; Bachelor of Arts / Science, California State Los Angeles

Donald Sterling on Forbes Lists:

  • #931 Billionaires
  • #328 in United States
  • #792 in 2013
  • #296 Forbes 400

Rounding out the California-based real estate billionaires on the Forbes top 1,000 billionaire’s list is the infamous former owner of the L.A. Clippers Donald Sterling.

In August 2014, Sterling was forced to seller the basketball team he owned to former Microsoft CEO Steve Ballmer for $2 billion. You remember, Sterling gained notoriety due to racist remarks he made in 2014 in relation to the L.A. Clippers, the evolution of struggling San Diego-based NBA team he bought in 1981 for $12.5 million.

Donald Sterling was born Donald Tokowitz on April 26, 1934, in Chicago, Illinois. His family moved to the Boyle Heights area of Los Angeles when he was two years old. Starting in 1961, Sterling began to make his career as a divorce and personal injury attorney building an independent practice when Jews had few opportunities at prestigious law firms.

Sterling got started in real estate when he purchased a 26-unit apartment building in Beverly Hills. He then purchased Lesser Towers, a pair of large apartment buildings in Westwood and renamed them the Sterling Towers (now the Sterling International Towers).

Sterling amassed his fortune over several decades, buying apartment buildings primarily in Los Angeles; he also owns properties in Orange County, San Diego and Las Vegas.

In 2009, Sterling paid $2.7 million to settle a lawsuit that alleged housing discrimination against African Americans and Hispanics; Sterling and his wife denied any wrongdoing.

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CALIFORNIA’S REAL ESTATE BILLIONAIRES – JOHN ARRILLAGE BUILT SILICON VALLEY AND LOVES STANFORD

December 10, 2014 on 10:14 pm | In Bravo, Fascinating Information, Funny...Money, New Developments, Office Fodder, Statistics, Uncategorized, Winning Properties | 2 Comments

#960 John Arrillaga

Net Worth: $1.9 Billion

Age: 76

Source Of Wealth: real estate, Self Made

Residence: Portola Valley, CA

Citizenship: United States

Marital Status: Widowed, Remarried

Children: 2

Education: Bachelor of Arts / Science, Stanford University

John Arrillaga on Forbes Lists:

  • #931 Billionaires
  • #328 in United States
  • #792 in 2013
  • #314 Forbes 400

The other half of the 1960s Silicon Valley real estate development team of Peery and Arrillaga is John Arrillaga. Together, they built a fortune in commercial real estate in Silicon Valley. In 2006, Peery-Arrillaga sold about half their real estate portfolio for $1.1 billion. Current tenants include Google and Apple.

In July, 2013, billionaire Arrillaga made headlines with $151 million gift to his alma mater, Stanford University. It is the largest gift from a living donor in the university’s history. Arrillaga, a Stanford alum, worked 6 part-time jobs to help pay his tuition while a student there in the 1950s.

He has previously donated funds for other Stanford buildings including the alumni center to the student gym, and he endowed scholarships to support 50 Stanford students. Arrillaga’s daughter, Laura, teaches philanthropy at Stanford and is married to Netscape cofounder Marc Andreessen, now a prominent venture capitalist.

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CALIFORNIA’S REAL ESTATE BILLIONAIRES – RICHARD PEERY AND SILICON VALLEY

November 30, 2014 on 10:04 pm | In Bravo, Fascinating Information, Funny...Money, New Developments, Office Fodder, Statistics, Uncategorized, Winning Properties | 1 Comment

#824 Richard Peery

Net Worth: $2.2 Billion

Age: 75

Source Of Wealth: real estate, Self Made

Residence: Palo Alto, CA

Citizenship: United States

Marital Status: Married

Children: 4

Education: Bachelor of Arts / Science, Brigham Young University

Richard Peery on Forbes Lists:

  • #796 Billionaires
  • #277 in United States
  • #736 in 2013
  • #260 Forbes 400

Back in the 1960s, Silicon Valley real estate developer Richard “Dick” Peery worked with business partner John Arrillaga to turn orange groves into office parks for the booming tech industry.

In 2006 the partners sold a vast swath of buildings for $1.1 billion but held onto a portion.

A Google lease 15 of Peery Arrillaga’s buildings and the duo is reportedly constructing a building that LinkedIn will lease.

Peery’s son Dave runs the family foundation, which supports social entrepreneurs and organizations addressing poverty in the SF bay area and around the world. The family is also contributing to several education and child-related initiatives such as the Palo Alto High School athletic facility and the Palo Alto Junior Museum and Zoo.

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http://www.forbes.com/profile/richard-peery/

http://www.peeryfoundation.org/foundation

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http://www.peeryfoundation.org/

 

CALIFORNIA’S REAL ESTATE BILLIONAIRES – GEORGE ARGYROS – REAL ESTATE, SPORTS AND DIPLOMACY

November 20, 2014 on 9:50 pm | In Bravo, Fascinating Information, Funny...Money, Uncategorized, Winning Properties | 1 Comment

#759 George Argyros

Net Worth: $2.4 Billion

Chairman and CEO, Arnel & Affiliates

Age: 77

Source Of Wealth: real estate, investments, Self Made

Residence: Newport Beach, CA

Citizenship: United States

Marital Status: Married

Children: 3

Education: Bachelor of Arts / Science, Chapman University

George Argyros on Forbes Lists:

  • #731 Billionaires
  • #258 in United States
  • #736 in 2013
  • #260 Forbes 400

George Leon Argyros made his fortune in real estate investments as chairman and CEO of Arnel & Affiliates, which manages about 5,500 apartments and more than two million square feet of commercial space in San Diego, Los Angeles and Orange County. He started his business career running a grocery store and moved on to buying and selling real estate to gas stations.

His illustrious career includes owning the Seattle Mariners baseball team from 1981 to 1989. As well as a stint as Ambassador to Spain and Andorra under President George W. Bush.

Argyros has been on the board of directors of many corporations, and is a founding partner of private equity firm Westar Capital and a board member at software development company DST Systems.

His Argyros Foundation gives to various causes in Southern California, including the South Coast Repertory, the Eisenhower Medical Center Foundation and Argyros’ alma mater, Chapman University. In 2011, he and his wife gave $5 million to University of California, Irvine’s Gavin Herbert Eye Institute.

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http://www.forbes.com/profile/george-argyros/

http://en.wikipedia.org/wiki/George_Argyros

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CALIFORNIA’S REAL ESTATE BILLIONAIRES – EDWARD ROSKI, JR. BUILT THE STAPLES CENTER

November 10, 2014 on 9:14 pm | In Bravo, Fascinating Information, Funny...Money, New Developments, Statistics, Uncategorized, Winning Properties | 2 Comments

#445 Edward Roski, Jr.

Net Worth: $3.8 Billion

President and Chairman, Majestic Realty, Co.

Age: 75

Source Of Wealth: real estate

Residence: Los Angeles, CA

Citizenship: United States

Marital Status: Married

Children: 3

Education: Bachelor of Arts / Science, University of Southern California

Edward Roski, Jr. on Forbes Lists:

  • #466 Billionaires
  • #159 in United States
  • #363 in 2013
  • #143 Forbes 400

ERoski_cropped-251x341 You may think of Edward Roski Jr. was pivotal in the construction of the Staples Center in downtown Los Angeles, and one of the key figures attempting to bring football back to L.A., but he is so much more than that. Roski oversees Majestic Realty, the commercial and industrial real estate company his father founded in 1948. Majestic Realty owns more than 70 million square feet of real estate, most of which is industrial buildings in Southern California, but the complete portfolio spans from Los Angeles to Atlanta.

Majestic is completely family-owned. Roski helped build Staples Center in 1998 with local mogul Phil Anschutz.

A University of Southern California alumnus, he and his wife pledged $23 million to his alma mater’s fine arts school in 2006 and he currently serves as chairman of the USC board of trustees. Roski is an avid cyclist and mountain climber and has climbed to base camp at Mt. Everest, K2 and Mt. Kilimanjaro.

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CALIFORNIA’S REAL ESTATE BILLIONAIRES – JOHN SOBRATO & FAMILY BUILD FOR TECH

November 1, 2014 on 9:02 pm | In Bravo, Funny...Money, Uncategorized, Winning Properties | 2 Comments

#331 John A. Sobrato & family

Net Worth: $4.8 Billion

Founder and Chairman, Sobrato Development Cos.

Age: 75

Source Of Wealth: real estate, Self Made

Residence: Atherton, CA

Citizenship: United States

Marital Status: Married

Children: 3

Education: Bachelor of Arts / Science, Santa Clara University

John A. Sobrato & family on Forbes Lists:

  • #328 Billionaires
  • #110 in United States
  • #346 in 2013
  • #110 Forbes 400

Since releasing control of their family-owned Sobrato Development Cos., John A. Sobrato and son, John M. Sobrato Father and son are now following the example set by the likes of Bill Gates, Warren Buffet t and Donald Bren, focusing on the family’s philanthropic work through their Sobrato Family Foundation.

When they stepped down from day-to-day operations at their Silicon Valley family real estate firm and handed the reins to real estate veteran Rob Hollister, it was the first time in the company’s 35-year history a nonfamily member was chosen to run the Sobrato Organization’s vast holdings.

The Sobrato Organization was founded by the elder Sobrato in 1978 and currently owns about 7.5 million square feet of commercial office space and 30 apartment communities with 6,700 units along the west coast. Commercial tenants include Apple, Yahoo and Netflix.

John A. Sobrato began his real estate career in 1957, selling homes in Palo Alto while going to school at Santa Clara University. He built up a commercial real estate empire in the 1960s and 1970s with fellow Silicon Valley builder and former Forbes 400 member, Carl Berg.

Since 1996, Sobrato, through his foundation, has donated more than $230 million in real estate and cash to local communities. He and his wife made a $5 million donation to the Santa Clara Valley Medical Center. The couple has signed on to Warren Buffett and Bill Gates’ Giving Pledge.

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