OC’s Wealthiest 2024: Frank Fertitta III

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Frank Fertitta III
CEO
RED ROCK RESORTS INC.

THE MONEY: With brother Lorenzo, bought mixed martial arts promoter UFC, which was near bankruptcy, for $2M in 2001; cashed out in 2017 when UFC had a $5B 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 $1.3B. Cousin Tilman Fertitta bought Laguna Beach’s Montage resort in 2022 for $650M.

STOCK BOOST: Value of Red Rock Resorts is up about 17% year-over-year, to a valuation of $6B. 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 $28M. Family has other nearby properties and was reported to have paid $43.5M in 2022 for a newly 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 $125M, along with “planes and major pieces of contemporary art,” noted a 2019 report from CNBC. Frank reportedly got a new and improved vessel recently dubbed Viva, which counts an estimated $175M 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.