OCBJ WEEKLY EDITION
Alteryx: Analytics and Inclusion
Adams Helps Build Big Data PowerhouseRight from the startThe 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
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
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
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
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
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
Wealthiest Refocus, Find New Interests
FINANCE: Families, outdoors, relocations
Orange County’s wealthiest have softened their hard charging views in the past 18 months
STARTUPS & INNOVATIONS
BioPhotas, a maker of therapeutic LED light therapy devices, announced a major product line extension
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
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
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
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
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
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
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
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
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
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
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
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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