#33 – Neil Kadisha
Net Worth: $780 million -16%
Last Year: $925 million
Age: 53
Residence: Beverly Hills
Source of Wealth: Telecommunications, investments
The Money:
Former Qualcomm Inc. chairman owns about $570 million worth of stock in San Diego wireless communications giant; shares have held their own. But Omninet Capital investment firm, where he is managing partner, was bullish on real estate and biofuels, both of which took hits. Omninet has forayed into growth market of distressed debt but jury still out on returns.
Buzz:
Once again, the Beverly Hills investor found himself entangled in nasty lawsuit. This time it was between MGA Entertainment and Mattel over rights to MGA? popular Bratz dolls, which jury ruled were created by designer while he worked at Mattel. Kadisha? Omni 808 investment firm bought $313 million of MGA? debt, potentially jeopardizing Mattel? ability to collect on its $100 million judgment. Mattel alleged MGA used underhanded tactics to shield its assets because Kadisha has investment ties to MGA? chief executive. In 2006, an L.A. judge ruled that Kadisha dipped into trust funds meant for a widow and two children to buy some of his stake in Qualcomm. Kadisha is appealing ruling. Last year, tried hand at filmmaking as executive producer of ?he Accidental Husband,?starring Uma Thurman. Kadisha is donor to Israeli charities for homeless teens, abused children and schools.
