Howard Berg Net Worth

Howard Berg Net Worth

With the Great Recession taking its toll on America, some members of the billionaire club saw their wealth decrease during 2009. But most who made Forbes list of America’s richest saw an increase. Stock market rebound aided many who returned this year; additionally, membership threshold was raised from $400 million to $500 million making it easier for some individuals even during times of weakness in economy to join this elite club.

John Anderson ($1.3 billion), for instance, saw his net worth increase significantly thanks to a real estate spending spree which included purchasing a 122,000-square-foot shopping center in Woodland Hills and Westwood Village retail properties; Merv Griffin added to his fortune by selling Beverly Hilton Hotel for an astounding $130 million sum; only three of the 46 experienced a net worth decline; one, Michael Milken ($2.2 billion), had its wealth diminish.

Heavily involved with Drexel Burnham Lambert and its predecessor firms, Drexel is also an active philanthropist who generously donates to education and medical research, founding the Milken Archive of American Jewish Music as well as being involved with arts. Drexel is also an investor in international real estate holdings through Heron International out of London while recently LeapFrog Enterprises Inc (which he co-founded with his brother) was responsible for significant reduction in overall wealth.

David J. Hess has sold assets such as his stake in Del Amo Fashion Center to Mills Corp. and built up real estate holdings in Torrance, Calif.; Atlanta; Boston and Pittsburgh. Furthermore, he expanded into aircraft leasing with the formation of ILFC; it later became America’s leading jet lessor. Additionally, he serves on American International Group Inc. units’ boards as chairman while Skywest Airlines Inc is represented on them both boards as directors.

Platinum Equity, the Los Angeles-based private equity firm established by William Gores after leaving older brother Alec Gores Technology Group in 1995, has made a name for itself by targeting technology-related businesses and legacy products past their prime that are ready for turnaround. One such deal was the $174 million purchase of Hays Logistics from Hays Plc for $174 million which helped push his total annual revenues past $5.5 billion; placing him among the top five Los Angeles-based private companies by revenue.