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 George started in 1968.
THE NUMBERS: Arnel is reported to own close to 5,500 apartments; about 4,500 of those units are said to be in Orange County. 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, a Chapman University grad, went into real estate in 1962, selling land at busy intersections to gas stations.
KEY METRIC: Apartment rents in OC are up nearly 10% year-over-year; other investors report a nearly $100,000 per unit boost in value for well-located complexes since the pandemic’s start.
DEALMAKING: 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: 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. The 56,100-square-foot outdoor public space, which is used for a variety of family-friendly entertainment, is the most recent big addition to OC’s main arts center and was the center’s main attraction during the pandemic. It was the result of a $15 million donation from the Argyros family, which has endowed other parts of the center over the years. Family is a frequent contributor to other theaters across the country. Other beneficiaries of the family’s foundation over the years include Chapman University, the Alzheimer’s Association, Children’s Hospital of Orange County, the Richard Nixon Presidential Library and Museum, and numerous other local causes. In November, gave $7.5 million to Hoag Memorial Hospital Presbyterian to help with its nursing services.
The YACHT
“What’s longer than the Leaning Tower of Pisa and has had residents around Kingston dreaming of St. Barts? An $83 million luxury yacht owned by billionaire George Argyros,” said a July 7 report in New York’s Times Union newspaper, detailing sightings of the family’s 248-foot luxury yacht along the Hudson River.
The yacht, dubbed The Huntress, can reach speeds of 24 knots and cover 7,000 miles. It can be chartered; YachtCharterFleet says it costs about $765,000 to charter the Huntress for one week, and includes a crew of 22.
The Times Union reported the yacht was being used by its owners this month, and noted that the Argyros’ yacht was sightseeing up and down the Hudson River, “checking out some little towns” for a few months.
+20%
• NET WORTH: $3.3 billion
• LAST YEAR: $2.73 billion
• RESIDENCE: Newport Beach
• SOURCE OF WEALTH: real estate,
investments
