THE MONEY: Made his wealth in advertising, specifically after he took Outdoor Systems, a billboard company, public. Infinity Broadcasting Corp. bought Outdoor Systems for $8B in 1998. In 2003, bought the Anaheim Angels, as the team was called then for $180M from Walt Disney Corp. The Angels were the second baseball team in Moreno’s business portfolio – he was part of an ownership group that, between 1986 and 1992, operated the Minor League Salt Lake City Trappers.
VALUATION: Forbes, as of March, valued the team at nearly $2.8B. WSJ, in a recent article, said the Atlanta Braves have become the envy among baseball owners for the development around its stadium. The $4B OCVibe being developed nearby by fellow billionaire Henry Samueli (see page 34) may help Arte’s worth.
OUTDOOR SYSTEMS: Fought in the Vietnam War before graduating from the University of Arizona with a marketing degree and finding work in advertising. Eventually gained employment at Outdoor Systems in Phoenix and worked his way up to become the company’s president and CEO. Took the company public in 1996, two years before Infinity Broadcasting bought Outdoor Systems.
OC INVESTMENTS: KLAA, 830 AM (radio station)
PHILANTHROPY: Moreno Family Foundation supports education and youth services.
