L.A.’s Richest Not as Rich as Northwest Arkansas’
by July 5, 2004 12:00 am 152 views
A recent Los Angeles Business Journal feature on its wealthiest citizens made us think — there’s probably still more money in Northwest Arkansas than Beverly Hills.
The LA journal lists Viacom Inc. chairman and CEO Summer Redstone at the top with estimated net worth of $8.9 billion. Next was Kirk Kerkorian ($7.4 billion), Marvin Davis, ($6 billion) and Eli Broad ($5.3 billion).
Every year, Forbes magazine publishes its “World’s Richest People” list. This year, five relatives of the late Wal-Mart Stores Inc. founder Sam Walton made the top ten, with all of them aside from Alice Walton ($20 million), listing their residence as Bentonville. Helen Walton, Jim Walton, John Walton and S. Robson Walton all were listed with a net worth of $20 million each.
Microsoft exec Bill Gates ($46.6 billion) tops the list. But Forbes reported that if Mr. Sam were alive today, he would be worth twice as much as Gates.