In the world of changing fortunes in the past year, Henry Samueli has held up well. We estimate the Broadcom Corp. cofounder at $1.8 billion, down 5% from $1.9 billion last year.
Like others, Samueli likely has seen declines in his investments outside Broadcom. But his stake in the chipmaker, which represents about half of his wealth, is up slightly in the past 12 months, after climbing back from fall’s Wall Street meltdown.
Since the start of the year, the shares are up 60% on a recent market value of about $14
billion.
Samueli has been steadily selling Broadcom shares but remains a dominant shareholder. He owns 32 million shares with a recent market value of about $860 million.
He’s sold $1.1 billion in Broadcom shares since the company went public in 1998, including about $100 million worth in the past three years.
Samueli continues to work for Broadcom as a technology adviser reporting to Chief Executive Scott McGregor.
His day-to-day role as the company’s engineering visionary is little changed, according to sources. Samueli has no role in financial reporting or corporate governance, according to the chipmaker.
Samueli stepped down last year as chairman and chief technology officer after the Securities and Exchange Commission sued him over his involvement in granting backdated stock options.
The SEC suit is on hold until after the criminal trials of former financial chief William Ruehle in October and cofounder and former chief executive Henry Nicholas in 2010.
In September, a judge rejected Samueli’s deal to plead guilty to one federal charge of misleading investigators about his role in granting options. Samueli is appealing the decision.
Samueli’s legal fees aren’t seen as having a big impact on his wealth.
His relatively steady wealth helped Samueli move up two spots on our list of OC’s Wealthiest from last year, when he ranked No. 4. The fluctuation isn’t unusual, with Samueli holding the No. 2 spot in years past.
In March, Forbes valued Samueli at $1.3 billion amid a low point in Broadcom’s stock. In October, it had pegged him at $1.8 billion.
One of Samueli’s investments is the Anaheim Ducks hockey team, winner of the 2007 Stanley Cup championship. A lifelong hockey fan, he bought the team from Walt Disney Co. for $75 million in 2005.
Last year, the National Hockey League suspended Samueli from involvement with the team indefinitely amid his legal issues.
He remains involved with the team in an unofficial capacity but is removed from day-to-day management.
Samueli’s kept a low profile in the past year or so, making a few appearances for the Ducks and Broadcom.
The options scandal has bruised his image, though he’s still respected by many as an engineer and philanthropist.
Samueli and wife Susan have given away more than $200 million in the past decade.
They’ve given to the University of California’s Irvine and Los Angeles campuses, which named their engineering schools after Samueli. A library is named for his parents at Chapman University.
Wife Susan is a big supporter of alternative medicine,UC Irvine’s Susan Samueli Center for Integrative Medicine is named for her.
She gave some $15,000 in political contributions last year,most went to Democratic congressional candidates and to Hillary Clinton’s presidential campaign.
The Samuelis give to numerous nonprofits through their foundation, which focuses on healthcare, youth charities and Jewish causes.
,Sarah Tolkoff
