OCBJ WEEKLY EDITION

Alteryx: Analytics and Inclusion

Adams Helps Build Big Data PowerhouseRight from the start

The Cost of Luxury

As OC’s Secondary Home Market Grows, So Do Property Services

A boost in sales of ultra-high-end homes in Orange County is leading to more work for those catering to the area’s well-to-do

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OCBJ INSIDER

Summer Travel

Boats, yachts and mega-yachts that could pass for luxury hotels are prominent in this week’s OC’s Wealthiest edition

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Glidewell’s Side Hustle: Yacht Chartering

DENTAL: Exec has big boats for hire, sale

Yacht chartering services will cover a majority of operating costs while keeping sailing crew active

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Samueli’s Fortune Rises Amid Broadcom Boom

CHIPMAKERS: Anaheim work, philanthropy continues

Samueli real estate dealings look towards ocVibe project while philanthropy efforts focus on education and healthcare

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Moshayedi Shifts Into New Gear: Used Car Sales

AUTOS: Real estate firm launched site for car sales

Currently looking at buying opportunities in California, Arizona and Nevada, with a couple deals in the works in Orange County

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OC’s Wealthiest: Billion-Dollar Club

ECONOMY: 37 billionaires; net worth totals $160B

The pandemic, it’s been said, created winners and losers in the business world

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Wealthiest Refocus, Find New Interests

FINANCE: Families, outdoors, relocations

Orange County’s wealthiest have softened their hard charging views in the past 18 months

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STARTUPS & INNOVATIONS

BioPhotas, a maker of therapeutic LED light therapy devices, announced a major product line extension

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Qmerit Lands Funding, Rivian Charger Install Deal

ELECTRIC VEHICLES: At- home installs for trucks, SUVs

Qmerit has a new investor and landed a major contract with Rivian Automotive LLC, the first reported deal between an Orange County company and the Amazon-backed electric automaker

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Chip Startup Mobix to Buy Optical Cable Firm Cosemi

Will Boost 5G Advances For Irvine-Based Firm

High-tech marriage of wireless and wire will boost Orange County in competitive 5g market

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High-End Buyers Push OC Market to Record Highs

SeneGence Founder Lists Shady Canyon Home

Orange County’s wealthier residents have increasingly taken center stage when it comes to snapping up the region’s inventory of high-end homes

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Specright Gets $30M Funding For Supply Chain Innovation

Tustin Co. Helps Control Huge Amounts of Data

New funding will allow company to double its headcount by early 2022 and look towards expanding globally

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OC’s Collection of Car Collectors

The area’s well-to-do residents have a few things in common when it comes to how they choose to spend their money.

BILLIONAIRES with boats

THE MONEY: Developer of high-end retail properties in Southern California including The Grove, the Americana at Brand and the Palisades Village.

OC LEADER BOARD

Fueling the Future: The Promise of Social Innovations

Innovation is an essential driver of success in the business world

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BILLIONAIRES with boats

THE MONEY: Argyros family owns and runs Costa Mesa-based Arnel & Affiliates, a development and investment company George started in 1968.

Tu-Backed Fluxergy Seeks Series B Funding

Still Waits on US OK For 1-Hour COVID Test

Product currently awaiting emergency use authorization from the FDA; expects global use for next few years

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Asics Latest Collection Proves NFT Worthy

Kicks Off Digital Goods Artist-in-Residence Program

Asics’ latest shoe offering can’t be worn, but was made of some of the most hyped material right now

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loanDepot Bolsters Tech With Chief Digital Officer

Hsieh’s Lender Counts $3.6B Valuation Post-IPO

New Chief Digital Officer George Brady will lead financial tech services for loanDepot

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BILLIONAIRES with boats

Larry Van Tuyl

THE MONEY: Van Tuyl’s father, Cecil, opened the family’s car dealership in 1952. Van Tuyl joined the company in 1971, helped build it into the third-largest car dealership network in the country by late 1990s. Sold a controlling interest in his family’s car dealerships to Berkshire Hathaway for a reported $4.1 billion in stock in March 2015, when group counted some 78 dealerships, which together sold 240,000 vehicles per year and in 2013 had almost $8 billion in revenue.

Buena Park’s The Source Listed for Sale

600K SF Mixed-Use Center; Hotel Component in Bankruptcy

The Source features a collection of shops, restaurants and entertainment options designed to cater to the region's Korean community

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Fastest-Growing Private Companies Wanted For Business Journal’s Annual List

ECONOMY: Centerpiece of Sept. 20 Special Report

Is your company growing fast?

Sporting Goods

THE MONEY: Owner of baseball team that Forbes ranks as ninth most valuable in MLB, at nearly $2 billion. Last year, team brought in some $150 million in revenue, well down from prior years due to the pandemic’s impact on attendance.

IRA Capital Pays $40M for Local Apartments

Irvine Firm Planning $1B in Investments

IRA Capital is ramping up its focus on the multifamily sector, with a recent portfolio acquisition topping $40 million in Orange County

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Sporting Goods

THE MONEY: Co-founded video portal Broadcast.com in 1995; sold it to Yahoo for $5.7 billion in 1999. Bought majority stake in NBA franchise in 2000 for $285 million from H. Ross Perot Jr. The Dallas Mavericks now valued at $2.4 billion, per Forbes.

Philanthropy

44 Women for Orangewood hosted its 17th Annual Scholarship Luncheon on June 11, raising more than $160,000 for college scholarships benefitting Orangewood Foundation’s foster youth

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A Fortune in Food

THE MONEY: Upon turning 35, took over 96% ownership of the Irvine-based burger chain founded in 1948 by her paternal grandparents, Harry and Esther Snyder. She had seen a slow increase in her holdings in the company for a decade as part of a trust created by her grandparents.

A Fortune in Food

THE MONEY: Local residents who run and are main shareholders in Corona-based Monster Beverage Corp.

A Fortune in Food

THE MONEY: In 1987, took over family-owned beef supplier business started by grandfather in 1920, and grew it multiple times over. It is now the fifth-largest beef producer in the country. Forbes reports the company brings in nearly $1.7 billion annually.

A Fortune in Food

THE MONEY: Along with his brother David, co-founded Chef America Inc., a frozen foods company that sold in 2002 to Nestlé for $2.6 billion. Name on top of UCI Business School.

SAP Fortune Makers

THE MONEY: Plattner and a handful of other former IBM employees started Germany’s SAP, an enterprise software company that went public in 1988 and is now one of the world’s largest software companies, valued at nearly $180 billion. Counted a nearly 6% stake as of late last year, shares now valued at a little over $10 billion. Stepped down as CEO in 2003, still chairs the company’s advisory board.

SAP Fortune makers

THE MONEY: Co-founded Provo, Utah-based cloud computing company Qualtrics in 2002 with his brother, Ryan, and father, Scott; Ryan was the CEO. Days before its scheduled IPO in early 2019, Qualtrics was acquired by German software firm SAP for $8 billion in cash. Jared and Ryan still run Qualtrics as a unit inside SAP, according to Forbes, which estimates Jared’s fortune as a result of the sale at $1.3 billion.

Stock Stars

THE MONEY: Founder of company that ranked among nation’s largest nonbank mortgage lenders.

Stock Stars

THE MONEY: Runs one of Orange County’s best-known brands, maker of flat-panel smart TVs, sound bars and other products.

Stock Stars

THE MONEY: Co-founded medical monitoring device company in 1989. Has 8.6% stake in firm, according to the company’s April proxy statement. Shares in company stock are up about 15% to a $14.4 billion market cap this year; the prior 12 months, Masimo stock increased 40%. It’s now OC’s third-most valuable public company.

Stock Stars

THE MONEY: Gained about $800 million in 2012 from sale of Quest Software to Dell. Used proceeds to start Toba Capital, OC’s largest venture capital with $1.3 billion of assets under management.

Broadcom Billionaires

THE MONEY: Henry is largest reported individual owner of stock in the nearly $200 billion-valued Broadcom, plus extensive real estate holdings, as well as ownership of the Anaheim Ducks and related media ventures.

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