(Los Angeles, CA) - The rich get richer, right? Well, for this list of the wealthiest people in Los Angeles in 2021, that's not the full story.
Together, these movers and shakers rank as L.A.'s top earners but while gained others earned less in 2021. Still, the combined net worth comes to a whopping $71.8 billion.
The top 5 wealthiest people in Los Angeles have their fair share of detractors, but there's no denying the power—and the money—that these individuals wield.
The richest among Los Angeles-area denizens are diverse entrepreneurs, ranging from music to tech giants, who outsmart competitors by reaping profits from both traditional endeavors and digital business models.
But somehow it felt like fewer big rounds of applause for this club. Millions dropped by the wayside, including through philanthropy. As a result, among the 10 Wealthiest Angelenos emerged the overall total is less this year than in 2020.
1. Patrick Soon-Shiong - $20.4 billion
The Wealthiest Angeleno of 2021 will be Patrick Soon-Shiong, according to the latest ranking of wealthy residents in the Los Angeles region by the Los Angeles Business Journal. His biotech companies, ImmunityBio Inc. and NantHealth Inc., both lost value this year, but with Elon Musk left the city for Texas, he is now taking first place.
2. Sean Parker - $16.9 billion
Aged 41 years old, Parker, who got his start in computer science as a hacker, founded music file-sharing company Napster in 1999 at age 19. Parker then joined Mark Zuckerberg's team at Facebook Inc., where he acquired 70 million shares of the company's stock at its IPO. His stake is now worth $2.6 billion.
3. David Geffen - $14.2 billion
Famed music businessman David Geffen has spent most of his time during the pandemic traveling around the world on his 454-foot-long superyacht, "Rising Sun".Geffen donated $150 million to Yale University. The gift renames the Ivy League's drama school in Geffen's honor.
4. John Tu - $11.1 billion
Tu was born in China and emigrated to the United States in 1972. He co-founded Kingston Technology Corp. with David Sun. Kingston makes computer-related items such as flash memory products, solid-state drives, and gaming products.
5. Edythe Broad - $9.2 billion
Before her husband Eli Broad's death in April, the couple pledged to donate 75% of their entire wealth. As of last year, including during the pandemic, they had given away their wealth to the tune of more than $4 billion.
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