The Anaheim Ducks are 15 years removed from its lone Stanley Cup win, but team owner Henry Samueli says he and wife, Susan, are in it for the long haul with the team.
Case in point: the owners recently struck a 50-year lease renewal for the Honda Center, in an area being readied for a major overhaul that they are backing.
Dubbed ocV!BE, the plan is to build a mix a collection of apartments, offices, hotels, dining and entertainment options on about 95 acres of land around the Angel Stadium.
Samueli-backed ventures have spent close to $200 million to assemble the land, records show.
Major redevelopment plans were disclosed last year. The project’s cost was previously estimated at $3 billion; it has since been upped to $4 billion.
Samueli reps say the family will self-finance the deal, the largest project expected to move ahead in the Platinum Triangle.
Job Creation, Job Magnet
Of their mixed-use project being overseen by ex-Irvine Co. exec Dan Young, Samueli—speaking during a May 5 event co-hosted by the CEO Leadership Alliance Orange County and Octane, and held at the headquarters of Edwards Lifesciences—said the goal is “to create a magnet, so people stay here,” rather than leave OC for other metro areas considered more exciting by younger workers.
The exec-heavy event highlighted efforts to build OC’s base of high-paying jobs.
Broadcom co-founder Samueli said OCVibe will ensure “there’s a great life behind (those) jobs.”
THE MONEY: The 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.
THE NUMBERS: Estimated to have sold more than $1.5 billion in shares since Broadcom went public in 1998. Still owns 2.2% stake in company that’s now valued at about $4.3 billion, according to recent regulatory filings. Chipmaker holdings only represents a portion of family fortune. Stepped back as chief technology officer role at Broadcom near end of 2018, now carries chairman title. Remains confidante of CEO Hock Tan, whose Avago Technologies bought chipmaker in 2016.
KEY METRIC: Broadcom shares up about 3% year-over-year.
BIG BREAK: Established Broadcom in 1991 in Redondo Beach with Henry Nicholas (see entry, page 55). Duo vaulted into ranks of billionaires shortly after going public seven years later. Bought local hockey franchise for $70 million in 2005. Forbes values the team at around $620 million, up from $460 million a year ago.
PHILANTHROPY: The Samuelis are among Southern California’s top philanthropists and are members of the Giving Pledge, a group that promises to give away the majority of their money during their lifetime. The Samueli Foundation supports science, technology, engineering and math education; integrative health, youth services and social justice programs. A few years ago, they made a $100 million gift to the University of California, Los Angeles Samueli School of Engineering, described as the largest gift ever received at their namesake school. Giving to UCLA now approaching $200 million. The Samuelis have also donated a reported $250 million to the University of California, Irvine, including a $200 million gift—the largest in UCI’s history—in 2017 for its College of Health Sciences.