OC’s Wealthiest 2023: Julia and George Argyros

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JULIA ARGYROS
PRESIDENT
ARGYROS FAMILY FOUNDATION

GEORGE ARGYROS
CHAIRMAN, CEO
ARNEL & AFFILIATES
FOUNDING PARTNER
WESTAR CAPITAL LLC

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

THE NUMBERS: Arnel & Affiliates is reported to own close to 5,500 apartments; about 4,500 of those units are said to be in Orange County, where rents on average are approaching $3,000 a month, down slightly from a year ago but well up since the onset of the pandemic, according to brokerage data. The company also owns about 2 million square feet of office, industrial, and retail space in and around OC. Family has an extensive investment portfolio.

BIG BREAK: George Argyros, a Chapman University grad, went into real estate in 1962, selling land at busy intersections to gas stations.

DEAL-MAKING: George Argyros is the former owner of the Seattle Mariners baseball team—drafted Ken Griffey Jr., 1987—and one-time partner, with the late William Lyon, in AirCal. Said to own a large stock portfolio, in addition to other investments, much of that through Costa Mesa’s Westar Capital, his family’s investment firm. He has taken a step back in day-to-day management of his family holdings in recent years with his wife, Julia, assuming more responsibilities, including the running of Arnel & Affiliates.

NOTABLE: Has a second home at The Vintage Club in Indian Wells. Main benefactors for nearby Eisenhower George and Julia Argyros Health Center, which runs 92,000 square feet.

PHILANTHROPY: George Argyros and his family are notable philanthropists, well known for their work at Costa Mesa’s Segerstrom Center for the Arts, home to the Julianne and George Argyros Plaza and Center for Dance and Innovation. Last year, family announced a “transformational” $25 million gift to City of Hope Orange County; already had supported cancer hospital’s campus in Duarte.

 

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