The fabulous wealth found in Orange County is no surprise to those who grew up among riches.
Some of them have taken surprising turns on paths of their own.
Others joined the family business.
Most share one thing in common: They’ve had to work hard, so don’t expect silver-spoon stories with this bunch.
A number share another trait: They didn’t think they’d join the family business.
Consider Sandy Segerstrom Daniels, co-managing partner of Costa Mesa-based C.J. Segerstrom & Sons. She runs South Coast Plaza, the county’s largest shopping center, along with Henry Segerstrom, a cousin of her late father (see Centimillionaires list, page 40).
The younger Segerstrom once aspired to be a commercial photographer. She studied photography and communications at California State University, Fullerton.
The decision on a career “was always ours to make,” Segerstrom Daniels says. “We were strongly encouraged to go to college, but with the freedom to be what we wanted to be.”
After graduating in 1987, she entered the family business. She and her siblings—two sisters and a brother—are estimated to own half of C.J. Segerstrom & Sons.
“There was always the hope that we would want to join the business,” Segerstrom Daniels says, “but never pressure.”
As she worked her way up in the company, Segerstrom Daniels didn’t encounter the stereotype of being the boss’s daughter. Rather, she says, her battle was with the general outlook “that I was a girl and I didn’t want to be a secretary.”
She’s succeeded by continuing what those before her started, such as adopting her father’s open-door policy and commitment to quality.
She also inherited the trait of generosity from her parents, Hal and Jeanette Segerstrom.
In 2002, she started the Festival of Children, a month-long event held at South Coast Plaza that showcases more than 70 youth-serving nonprofits, giving them a chance to share their mission and raise funds.
Olenicoff
In some cases, personal loss shifts a person’s perspective.
Natalia Olenicoff, vice president of asset management at Newport Beach-based Olen Properties—one of Orange County’s largest commercial property owners and landlords—planned on being a writer. She studied communications at the University of Southern California and was looking into Master of Fine Arts programs in the U.S. and England.
She joined the family business in 2004, working under her brother, Andrei Olenicoff, and father, Igor Olenicoff (see related OC’s Wealthiest listing, page 46).
“I became certain that creating and managing a business was something that I really wanted to do in my life,” she says. “Working closely with my father and brother was a really compelling component as well.”
Her brother’s death in an auto accident in 2005 led to her taking a bigger role in the business, she says.
A willingness to work hard was instilled early on.
“Work has always been a central and meaningful part of my life,” she says. “I enjoy building, designing and interacting, so my career is incredibly fulfilling.”
Olenicoff started working in retail at age 14—with two jobs. She went back and forth from the Bead Shop and Diane’s Swimwear, both in Laguna Beach.
She also did odd jobs for Olen Properties, where she eventually took on more tasks. She reviewed architectural plans for projects in development and gave her input on the layout and design.
“That was one of the first tasks that helped me realize that I truly had a passion for this work and ultimately led to my decision to work for Olen full time,” she says.
Alex Bhathal and Lisa Bhathal Vogel of Tustin-based Raj Manufacturing Inc. grew up playing on the floors of the business started by their parents, Raj and Marta Bhathal.
The Bhathals sold a majority interest in the company to San Francisco-based private equity firm Swander Pace Capital but kept a family stake.
Their children now run Raj Manufacturing, bringing different professional backgrounds to the job.
“For Lisa, she was born with the fashion-business bug and I believe it was always her desire to come into the family business,” says Alex Bhathal, co-president of the company with his sister. “For me, I worked in a few different industries to get experience when I was younger and realized while getting my MBA (at USC) that I had a great opportunity to help out.”
Raj Manufacturing makes swimwear under license for labels such as Guess?, Hurley and Reef as well as its own designs, including Vogel’s own Luxe by Lisa Vogel.
The company is estimated to have about $130 million in annual sales.
For the two siblings, the family business is a no-brainer.
“Orange County is the swimwear mecca of the world,” says Bhathal, who worked at several dot-com startups before returning to Raj Manufacturing in 2000.
Bhathal says they learned a strong work ethic from their parents.
“We were brought up to respect the value of the dollar and the hard work that it takes to make a living and run a business,” he says.
They’ve brought some changes to Raj Manufacturing, “probably affecting the culture some,” he says, “but at the end of the day it’s still the same company and we’ve maintained the same goals and values.”
Real Roxy
Roxy and Kristi McKnight are in the early stages of their careers.
They work at Huntington Beach-based Quiksilver Inc., which was founded and is run by their father, Chief Executive Bob McKnight.
Quiksilver counts yearly sales of close to $2 billion and a market value of about $890 million.
Roxy McKnight is a marketing coordinator for QSW, Quiksilver’s women’s line, and for its new namesake junior’s line. Kristi McKnight does public relations for the company’s men’s line.
Joining the company was a natural progression for Roxy McKnight, who studied art history at USC.
Growing up, the family’s wealth wasn’t a big part of the girls’ upbringing.
“I want to be successful on my own,” Roxy McKnight says. “I’m passionate about what I do.”
Joining their father’s business was a choice, she adds.
“My dad’s very passionate about what he does,” she says. “And if that’s something we’re passionate about, then he’d want us to go in that direction. But it was never something I had to do.”
She enjoys what she’s doing now.
“The people, the company … they’re great,” she says. “I love the psychology behind marketing. It was something I was fascinated with and drawn to. And, of course, art plays into fashion.”
Working hard is helping Roxy McKnight earn her place in the company, where she says there is no special treatment.
“My dad wouldn’t want that either,” she says. “He wants us to work hard and earn everything we do.”
Bob McKnight advised his daughters to be passionate about what they do, telling them “If you’re not happy, it will bring you down as a person.”
His other piece of advice?
“Be on top of things,” Roxy McKnight says he told her. “Know what you’re talking about and know how things work.”
Gomez is a former Business Journal editor and freelance writer based in Long Beach.
