Big Bucks, Big Names, Big Ideas

Our OC’s Wealthiest list—the centerpiece of this week’s issue and accompanying special section—is about more than money. It’s also about ideas—a coin of the realm for many of the entrepreneurs who spice up the annual compendium of the extraordinarily well-to-do. And there are two sides to every coin, as several stories on page 1 will demonstrate. Is Kobe Bryant obsessive or fastidious? Is Mike Harrah bombastic or visionary? Is Jim Jannard a grouch or a genius? Is Vinny Smith driven or idealistic? … Idealism seems to be a key for LeEco boss Jia Yueting, who last week struck a deal to buy Vizio from wealthiest list member William Wang for $2 billion. Yueting was quoted in the Beijing News as saying that his Shenzhen-listed conglomerate “has never been a profit-driven company.” Huh? “Maybe this answer will let down our investors,” Yueting reportedly continued, “but I think the true value of a company is to contribute to society, the human race and customers” … The deal made Wang the newest billionaire in OC, as our overview piece on page 1 explains. Here’s a little-known tale from well before LeEco dangled big money in front of him. Seems some folks from Hoag had a chance to meet with him before they were anywhere near finished building the health system’s new center on Sand Canyon, just a few miles from Vizio’s HQ. Someone mentioned to Wang that the place would need some TVs for waiting rooms and the conference rooms used by various specialists and other healthcare pros at the three-building center, which just opened. An 18-wheeler from Vizio showed up the next day with a load of HD flat-screens—a response that had the Hoag folks sheepishly asking if Wang could hold onto them until the new center was actually built. He did, and the place is now outfitted with more than 60 Vizio models … Back to Jannard, who could be on to a third fortune, according a report that starts on page 1 and continues inside, where you’ll find an illustration of a new electronic device he’s designed, which seems to indicate that good ideas have staying power. Notice the grips on the side of the device and think of Jannard’s start—he launched Oakley Inc. by selling handlebar grips for bicycles out of the trunk of his car … Fun fact: List member Ed Thorp’s latest book is tentatively titled “A Man for All Markets: From Las Vegas to Wall Street” and due out from Random House on Feb. 7. That happens to be the birthday of his triplet grandchildren—all currently following in his footsteps at MIT … Duane Roberts made the rankings of the wealthiest here once again, and he’ll soon know where his Mission Inn Hotel & Spa ranks on USA Today’s annual Reader’s Choice vote to pick the Top 10 Best Historic Hotels list. The Riverside establishment is one of 20 around the nation nominated as finalists, joining the likes of the Palmer House in Chicago and The Plaza in N.Y. Online voting ends Aug. 1 … Separated at birth: Back to Harrah, who shares this call-out with William Spurgeon, first mayor of Santa Ana. This plaque, which features both their images and hangs on a wall in Harrah’s office on Broadway, commemorates the inaugural William H. Spurgeon Pioneer Award the developer was given by the city in 2014.