Late Billionaire’s Net Worth Likely to Stay Unknown featuring Marc Primiani

Los Angeles Business Journal

Kirk Kerkorian was once the wealthiest man in Los Angeles – by a wide margin – and still ranked among the wealthiest Angelenos until his death last week at the age of 98. The multibillionaire, worth an estimated $6.5 billion, ranked No. 6 on the Business Journal’s list of the Wealthiest Angelenos this year. His fortune, built over decades in the casino and entertainment industries, once topped $16 billion, the biggest stack ever accumulated here. And for six years, he topped the Wealthiest Angelenos, a record run surpassed only recently by biotech and tech investor Patrick Soon-Shiong. Now that he’s gone, though, it’s not clear where his vast wealth will go – or what it amounted to in the end. Through Beverly Hills’ Tracinda Corp., Kerkorian owned a 16 percent stake in Las Vegas casino operator MGM Resorts International, worth about $1.8 billion. But other than those shares, Kerkorian had few disclosed holdings. (The Business Journal’s calculations of Kerkorian’s wealth relied substantially on estimates, as did valuations by other publications.) His business was handled through Tracinda, a private holding company that doesn’t have to publicly declare its investments, other than its big MGM stak

http://labusinessjournal.com/news/la-finance/

06/22/2015