Bloomberg Billionaires Index

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# 307 Edward Roski $7.14B

Random fact: Member of the Explorers Club.

Overview

Roski is the president and chairman of Majestic Realty, the US's largest closely held developer of industrial property. The Los Angeles-based real estate company has more than 82 million square feet of rentable space and properties in more than 10 states from California to Pennsylvania, including Texas.

As of :
Last change No change
YTD change +$148M ( +2.1%)
Biggest asset Majestic Realty
Country / Region United States
Age 83
Industry Real Estate
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Edward Roski's net worth of $7.14B can buy ...

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troy ounces of gold
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barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
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Confidence rating:

Most of Roski's fortune is from Los Angeles-based Majestic Realty, the largest closely held industrial property developer and business park owner in the U.S. with more than 82 million square feet of rentable industrial and office space, according to its website. The billionaire owns all of Majestic, which manages properties in more than 10 states from California to Pennsylvania, including Texas.

It's indexed to the performance of researcher Real Capital Analytics' index of West Coast industrial property prices. The base valuation was calculated using occupancy rates, rent per square foot and sale price per square foot for the specific regions and sectors where Majestic operates, according to market data compiled by Los Angeles-based commercial real estate broker Cassidy Turley and Real Capital Analytics.

Roski owns 3% of the Los Angeles Lakers professional basketball team, according to John Black, a spokesman for the NBA franchise. He also owns less than 10% of the Los Angeles Kings hockey team, according to a person familiar with the holding who asked not to be identified because the information is private. The value of his stake in the NHL franchise isn't valued separately because the exact size of his holding isn't disclosed.

No response was received to messages left with Dee Anna Hunt, Roski's assistant at Majestic Realty.

Biography

Birthdate: 12/25/1938
Family: Married, 3 children
Education: University of Southern California

Born in rural Oklahoma on Dec. 25, 1938, Edward Roski entered his family's real estate business in the 1970s. His father founded Majestic Realty in 1948, operating it mostly as a brokerage company, according to its website. Roski graduated from the University of Southern California in Finance and Real Estate in 1962, and served as an officer in the U.S. Marine Corps until 1966. He fought in the Vietnam War and was decorated for bravery with two Purple Hearts.

On his return, he joined Majestic Realty and helped turn it into the largest closely held industrial property developer in the U.S. The company purchased and developed large parcels of land in California, and has more than 87 million square feet of property, according to its website. Roski became co-owner of National Hockey League franchise Los Angeles Kings in 1995 and owns 3 percent of the National Basketball Association's Los Angeles Lakers. He helped finance construction of the Staples Center, where both teams play.

The billionaire lives in Los Angeles. He has three children.

Milestones
  • 1938 Edward Roski Jr. is born in Oklahoma.
  • 1948 Father Edward Roski Sr. founds Majestic Realty.
  • 1962 Graduates from USC with a degree in Finance and Real Estate.
  • 1962 Starts service as officer in U.S. Marine Corps.
  • 1998 Construction of the Staples Center begins.
  • 2006 Named business person of the year by Los Angeles Business Journal.
  • 2006 Receives Woodrow Wilson Award for Public Service.
  • 2008 Appointed chairman of the board of trustees at USC.