Henry Samueli
CHAIRMAN
BROADCOM
THE MONEY: The largest reported individual owner of stock in the nearly $750B-valued Broadcom, plus extensive real estate holdings, as well as ownership of the Anaheim Ducks and related media ventures.
THE NUMBERS: Estimated to have sold more than $1.5B in shares since Broadcom went public in 1998. Has reduced stake from 2.4% in 2020 to 1.9% this year. Stake now valued at $13B+. Stepped back as chief technology officer at Broadcom in 2018, now carries chairman title. Remains confidante of CEO Hock Tan, whose Avago Technologies bought chipmaker in 2016.
BIG BUY: He and wife Susan have spent well more than $200M in past decade buying commercial land around Honda Center in Anaheim. The couple is self-funding $4B OCVibe mega-development. Plan is to redevelop close to 100 acres into a new mixed-use hub with apartments, retail, offices and hotels. Latest big investment in Anaheim includes a $64.5M purchase of a 12-acre, 105K-square-foot industrial site next to Angel Stadium that will serve as the new home for OCVibe staff. Development plans call for more residential units and the elimination of the three-building Arena Corporate Center.
KEY METRIC: Broadcom shares up more than 100% for year ended June 30.
BIG BREAK: Established Broadcom in 1991 in Redondo Beach with Henry Nicholas (see entry, page 44). Duo vaulted into ranks of billionaires shortly after going public seven years later. Bought Ducks for $70M in 2005. Forbes values the team at around $925M, up from $725M a year ago.
IN THEIR WORDS: Samueli told the Business Journal that “never in my wildest dreams” did he imagine that Broadcom, which still has a large employee base in Irvine, would have grown into its current size.
PHILANTHROPY: The Samuelis are among Southern California’s top philanthropists and are members of the Giving Pledge, a group that promises to give away the majority of their money during their lifetime. The Samueli Foundation supports science, technology, engineering and math education, integrative health, youth services and social justice programs. A few years ago, they made a $100M gift to the University of California, Los Angeles Samueli School of Engineering, described as the largest gift ever received at their namesake school. Giving to UCLA now approaching $200M. Donated an additional $50M to UCI in June.
