BIG BREAK: Established Broadcom in 1991 in Redondo Beach with Henry T. Nicholas III (see entry, page 38). Duo vaulted into the ranks of billionaires shortly after going public seven years later.
THE NUMBERS: Estimated to have sold more than $5B in shares since Broadcom went public in 1998. Reduced stake from 2.4% to 1.9% in 2024. Stepped back as Broadcom’s chief technology officer in 2018. Now carries chairman title. Remains confidante of CEO Hock Tan, whose Avago Technologies bought the chipmaker in 2016.
LA28 PREP: Since 2018, Henry and wife Susan have spent well over $200M buying commercial land, such as parking lots around the Honda Center in Anaheim. The couple is self-funding $4B OCVibe mega-development. Plan is to redevelop 100 acres into a new entertainment-anchored, mixed-use hub with apartments, retail, restaurants, offices and hotels in time for 2028 Summer Olympics. Come fall, OCVibe parking structures will be the first part to open. Samuelis are dedicating another $1.1B for Honda Center overhaul including: renovating 68 luxury suites and adding opera box suites on the main concourse; new all-inclusive club on the club-level; food and beverage refresh with 10 new concepts coming; new escalators and entryways; and three new parking garages with 6K+ spaces. Venue refresh aims to complement OCVibe development. Construction to run through 2027. Most recent acquisition was Stadium Tower at 2400 E. Katella Ave. in Anaheim for $72.9M, according to public documents.
PHILANTHROPY: Henry and Susan are members of the Giving Pledge, a group that promises to give away most of their money during their lifetime. The Institute of Electrical and Electronics Engineers (IEEE) this year honored Henry for his work on broadband communications and networking technologies. Henry and Susan have donated $307.7M to UCI, making them the college’s largest donors. Also known for donating $190M to UCLA, where Samueli is still listed as a professor, although he’s been on leave of absence since 1995, according to the Broadcom proxy.
KEY METRIC: Broadcom hit $1.33T valuation this month (Nasdaq: AVGO). Chipmaker’s shares are up around 77% compared to a year ago, as of July 18.
THE SMART MOVE: Samueli in November 2024 pledged 16.2M shares of Broadcom common stock, at the time approximately $2.7B, to secure loans for OCVibe. Move allows him to enjoy appreciation of Broadcom stock, which is climbing due to its focus on AI.
UNSEATS BREN: Samueli is now Orange County’s wealthiest individual, leapfrogging over Irvine Company Chairman Donald Bren (see entry, page 36), as his stake in Broadcom grew to more than $25B as of July. Bought Anaheim Ducks for $70M in 2005; Forbes values the team at $1.3B, up from $725M just two years ago. Value of OCVibe not yet clear but should eventually should exceed $4B investment. We estimate his wealth jumped about 65% from $17.6B+ a year ago, due to Broadcom’s increased valuation.
IN HIS WORDS: “To us, it’s a great investment in this community and hopefully a transformative investment that will attract people of all ages to come and have fun here,” Samueli said of OCVibe, which he has dubbed “the downtown” of OC.
