OC’s Wealthiest 2023: Frank Fertitta III

1814

FRANK FERTITTA III
CEO
RED ROCK RESORTS INC.

THE MONEY: With brother Lorenzo, bought mixed martial arts promoter UFC for $2 million in 2001; cashed out in 2017 when UFC had a $5 billion valuation, each brother reported to have 40.5% stake in business. Took family’s casino business, Red Rock Resorts, public in 2016; the brothers own Las Vegas’ Station Casinos now valued at about $1.3 billion. Cousin Tilman Fertitta bought Laguna Beach’s Montage resort last year for $650 million; he also owns the Houston Rockets and restaurant firm Landry’s, whose portfolio includes several OC properties.

STOCK BOOST: Value of Red Rock Resorts is up nearly 50% year-over-year, to valuation of $5 billion. Family has a significant stake in company and controls all voting matters.

WEEKEND WEALTHY: Bought a beachfront home in Emerald Bay community of Laguna Beach in 2009 for $28 million. Family has other nearby properties, and last year was reported to have paid $43.5 million for a recently rebuilt home in the same community along the water. That deal is among the top 10 most expensive sales in OC history.

YACHT UPGRADE: Frank and Lorenzo are each reported to own superyachts valued more than $125 million, along with “planes and major pieces of contemporary art,” noted a 2019 report from CNBC. Frank reportedly got a new and improved vessel last year. Dubbed Viva, it counts an estimate $175 million value. It is reported to be the 85th largest superyacht in the world. “The yacht’s helicopter sports the tail number N702FF, which was believed to have been chosen for Fertitta’s initials,” said a 2022 report in the Nantucket Current, when the vessel was in the area.

RETURN to Index