Wealthiest Angelenos: Ronald N. Tutor – #48

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Wealthiest Angelenos: Ronald N. Tutor – #48
Wealthiest Angelenos: Ronald N. Tutor

The skinny on the fat wallets of L.A.’s 50 wealthiest.

Ronald N. Tutor

NET WORTH: $790 million +13%

LAST YEAR: $700 million

AGE: 70 RESIDENCE: Beverly Hills

SOURCE OF WEALTH: Construction

THE MONEY: Construction magnate-cum-movie mogul saw gains as shares of Tutor-Perini Corp. rose. Told Business Journal assets undervalued in past. Owns home in exclusive Beverly Park community he pegs at $48 million, Boeing 737 jet and $60 million yacht.

BUZZ: Deepened involvement in Hollywood despite past troubles at Capitol Films and ThinkFilm, both pushed into involuntary bankruptcy by creditors. Led group of investors who purchased Miramax from Walt Disney Co. for $660 million. Said he put $100 million into the deal sealed in December. Likes to travel to Cannes Film Festival aboard 194-foot yacht Pegasus. Native Angeleno followed father into construction business; chief executive of Tutor-Perini Corp., general contractor formed from merger of his private company with publicly held Perini Corp. in 2008. Received 43 percent stake in the joint venture worth more than $500 million. Has since reduced stake by selling roughly 7 million shares. Company one of largest contractors in nation and worked on projects such as MGM CityCenter in Las Vegas. Tutor personally oversaw work on Wynn Encore resort. Member of board at USC, where two buildings bear name. Owns property in Palm Springs; Sun Valley, Idaho; and Las Vegas. Twice divorced.

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