WHY: Iranian immigrant who arrived in the U.S. at age 18, received degrees from Portland State University and MIT, both of which have buildings named after him following donations. In 1991, founded IntelliSense to reduce time and expense when creating next-generation micro-scale devices for use in products from cardiac pacemakers to aircraft landing gear. In 2000, sold company for $750M to Corning Inc. Now investing in large language models to improve financial industries.
THE FOLLOWUP: Later launched Newport Beach-based Surlamer Investments, a private wealth management firm that invests in private companies, real estate and publicly traded securities. Portfolio includes Bodymatter, an app to check your heart rate using your smart phone, Litrinium, which touts “ultra fast next generation connectivity,” and Kush Supply Co., a supplier of cannabis related products. In June, it was reported that Surlamer purchased a 19-story building adjacent to The Outlets at Orange for $18.5M. The deal, at $51.51 per square foot, is likely one of the cheapest in recent years for an OC high rise.
THE MONEY: If Fariborz Maseeh netted $500M after taxes from his 2000 sale and his assets grew by 10% annually, he’d be approaching $5B. The Business Journal used a conservative 7% annually, where he still easily makes our list with $2.5B.
BOARDS: Chairs the Sponsored Research visiting committee at MIT; also on Harvard Medical School Board of Fellows and the Caltech Board of Trustees.
IN THE NEWS: Donated to University of Texas at Austin engineering school, which has been renamed “Fariborz Maseeh Department.”
CHARITIES:Â Founded the Newport Beach-based Massiah Foundation in 2000, leveraging traditional VC financing principles to achieve long-lasting positive and broad impacts. Funds programs like the Kids Institute for Development and Advancement in Irvine. In 2010, the foundation established the Maseeh Entrepreneurship Prize Competition at USC Viterbi.
NOTABLE: Named to National Academy of Engineering, one of the highest professional honors for an engineer; fewer than 3K have been inducted. Corona del Mar resident owns city’s famed Portabello home, bought for more than $30M. Bought and refurbished city’s The New Port Theater.
QUOTABLE: On why he choose to attend Portland State University: “I needed to get out of Iran at the time of the turmoil and Portland State gave me the fastest admission — within a few days of applying.”
