edited by Jodi Summers

Donald Trump may be the most outspoken real estate billionaire, but he’s not the richest. The 2016 Republican Presidential Candidate high-networthhad a net worth of $3.7 Billion at election time; in real estate terms, that ties him tied with local developer Rick Caruso at #156 on the Forbes list of billionaires. With Caruso being the 3rd richest local real estate mogul, you’d expect the SoCal real estate players who made the Forbes 400 to be among the country’s richest individuals. You know this men’s club, you’ve met them before, now let’s get reacquainted with California’s richest real estate investors:

  1. Donald Brendonald-bren

Forbes Billionaire List: #27

Net worth: $15.2 billion

As usual, Irvine Company’s Donald Bren of Newport Beach, beat out every other American billionaire in real estate. Bren has a reported net worth of $15.2 billion – all self-made. The Irvine Co chairman commands a portfolio with 110M SF all across SoCal, including 500 office buildings, 40 shopping centers, 50,000 apartments, three hotels and several golf clubs and marinas. In addition, Bren’s extending his reach into Silicon Valley with a 100-acre development in Santa Clara—which includes office campuses, shops and apartments and will be completed in 2019. He also owns 97% of the MetLife Building in Manhattan. Currently, the Irvine Company is involved in the Villas at Playa Vista, one of the biggest new residential construction projects in L.A.

The Irvine Company is to be commended for their charitable work. Bren’s business has donated 55,000 acres of Orange County property for conservation and has pledged $22 Million through 2016 to arts, science and music education.

  1. Edward Roski, Jr.Ed Roski NFL

Forbes Billionaire List: #110

Net worth: $4.9 billion

Edward Roski Jr. serves as president and chairman of the board of Majestic Realty Co, a company his father started in 1948. He is a former Marine Corps officer and has two Purple Hearts. A native of Oklahoma, Rosk is a graduate of USC and chairs its Board of Trustees. This year, Mr. Roski ascends to No. 110 on the Forbes list with a net worth of $4.9 billion.

Majestic, headquartered in Southern California, has a 76.5-million square-foot portfolio scattered throughout the country. The portfolio includes several well-respected properties including Majestic Airport Center Dallas-Fort Worth, Mountain Grove at Citrus Plaza in Redlands, CA as well as additional industrial, office, and retail space, as well as sports, entertainment and hospitality projects.

The company recently broke ground on a 239,400 SF warehouse and manufacturing/production facility for Melmarc at the former Sunkist factory at 752 Campus Ave in Ontario.

Not only is Roski committed to real estate, he is also known as a philanthropist, launching the Majestic Realty Foundation 14 years ago. He sits  on the boards of LACMA, the Bowers Museum, the California Science Center, the Natural History Museum of LA County, the LA Sports & Entertainment Commission, and the National Geographic Society. He is the co-owner of both the LA Kings and the Lakers. He is admired for his critical role in getting Staples Center in DTLA.

  1. Rick Caruso

Forbes Billionaire List: #156

Net worth: $3.7 billion

rick-carusoPerhaps most famous and best appreciated of the SoCal real estate billionaires to those outside the industry is Caruso. Tied with Trump at No. 156, the Grove developer, who lives in Brentwood, boasts a net worth of $3.7 billion. These days, the retail mogul is working on a complete overhaul of downtown Pacific Palisades to create Palisades Village, which will comprise retail buildings, restaurants, a supermarket, a movie theater and a park.

Another mogul to be admired for his philanthropic ventures, the Caruso Family Foundation, is dedicated to supporting organizations that improve the lives of children in need of healthcare and education. In 2013, the Foundation pledged $5 million to Operation Progress, a Watts-based non-profit originally founded by Los Angeles Police Department officers, which will guide more than 200 students from elementary school through college graduation. Caruso serves on the board of Para Los Niños, a nonprofit family and child welfare agency in South Los Angeles. He is a trustee of the University of Southern California, is on the Pepperdine School of Law Board of Visitors and on the Board of Trustees of the Ronald Reagan Presidential Foundation. The Caruso Catholic Center and Our Savior Parish Church on the USC campus was endowed by and named after Caruso following his contribution of $9 million. In 2015, Caruso and his wife Tina donated a further $25 million to USC, to endow and name the USC Tina and Rick Caruso Department of Otolaryngology – Head and Neck Surgery, one of the nation’s largest and most highly ranked for research and treatment of diseases of the ear, nose and throat. He sits on the board of the National Institute of Transplantation and is on the Board of Saint John’s Hospital[38] and The California Medical Center Foundation.

Caruso was named by the Los Angeles Business Journal as “Developer of the Year” and its 2012 Ernst & Young LLP Master Entrepreneur of the Year.

  1. Donald Sterling

Forbes Billionaire List: #190

Net worth: $3.4 billion

donald-sterling-2Donald Sterling, the controversial former owner of the L.A. Clippers, lands at No. 190 on the list, Sterling has a net worth of $3.4 billion. Sterling amassed his fortune over several decades. He got started 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). His portfolio now spans from the Westside to Koreatown in L.A. as well as Orange County, San Diego and Las Vegas.

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.

  1. George Argyrosargyros-family-foundation

Forbes Billionaire List: #335

Net worth: $2.1 billion

George 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.

george-argyrosArgyros 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 – his name is all over Chapman. In 2011, he and his wife gave $5 million to University of California, Irvine’s Gavin Herbert Eye Institute.

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.


































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About Jodi Summers

Jodi Summers
SoCal Investment Real Estate Group
Sotheby’s International Realty

Sotheby’s International Realty’s legacy dates back to 1744. Respected as one of the world’s oldest and largest fine art auctioneers, Sotheby’s has a longstanding tradition of bringing together buyers and sellers of fine property. Today, Sotheby’s International Realty boasts nearly 13,000 sales associates, located in more than 660 offices in 49 countries and territories. Broker Jodi Summers is the founder of the SoCal Investment Real Estate Group, a top producing team with Sotheby’s International Realty in the Los Angeles area.

With more than $140,000,000 in listed inventory, Jodi and the SoCal Investment Real Estate Group know finance, rules, regulations, procedures and methods. We are accurate, knowledgeable, timely and aware of how government shapes the cities of Southern California, including Santa Monica, Venice, Culver City, West Hollywood, Beverly Hills and Los Angeles.

A New York native, Jodi grew up working in the family business – marketing, Madison Avenue style. Childhood math quiz questions calculated demographic and psychographic percentages or analyzed the allocation of adverting dollars. Word games were for devising slogans.

“My marketing and communication skills have proven to be a true gift when it comes to promoting real estate,” observes Jodi. “And I am consistently able to get an exceptionally high price per square foot for my sellers.”

Discipline (Jodi holds a Black Belt in Tae Kwon Do), organization, motivation, excellent communication skills and knowing & satisfying the needs of her clients have been her essentials for running a successful business. A passion for investment real estate explains her emphasis in asset-yielding properties.

The City of Santa Monica chose Jodi to be part of the prestigious 9-member Civic Working Group to analyze and offer feedback on the future of the 10.5-acre Santa Monica Civic Auditorium site. Additionally, Jodi is a member of the National Association of Realtors, Beverly Hills + Greater West Side Association of Realtors, Action Apartment Association of Westside income property owners, the Santa Monica Conservancy historic preservation society, the Friends of Sunset Park community group, the Real Estate Investors Club L.A., the American Solar Energy Society, Sierra Club, California Parks Association and the Culver City Rock & Mineral Club. She is currently the Communications Chair for the Ocean Park Association in Santa Monica, and a partner in Save the Civic – a community group involved with the City in the adaptive reuse of the Santa Monica Civic Auditorium and adjacent area.

An honors graduate from the Walter Cronkite School of Journalism at Arizona State University, Jodi moved to California in the mid-’90s to achieve her goal of living by the beach with a hibiscus bush in her yard.

She has thrived as an entrepreneur in the entertainment, media and marketing industries. She has three books in publication with Allworth Press – The Interactive Music Handbook, Making and Marketing Music and Moving Up In the Music Business. Making and Marketing Music is in second edition. Check out her work on Amazon.com.

Find out more about Jodi Summers through her social networks –
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About.Me: http://about.me/SoCalInvestmentRealEstateGroup

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