(L_R) John F. Shea, Peter O. Shea and the late Edmund H. Shea (Photo – sheaapartments.com).
The Los Angeles Business Journal published its 50 wealthiest Angelenos list, and Pasadena (and the San Gabriel Valley) had one of its own.
By Roxanne Elhachem
Ranked by net worth in the billions, John F. Shea, philanthropist and former chairman of the J. F. Shea Co., came in at 43 on the list, with a net worth of $1.42. It was a 13.6% increase from last year’s ranking at 45 (and a net worth of $1.29 in 2015).
The history of the Shea family of companies began modestly enough in 1881 with the establishment of a small plumbing business in Portland, Oregon. From those humble beginnings, generations of the Shea family built the J.F. Shea Company into one of the largest privately held home builders in the nation.
J.F. Shea Co. developments include new Phoenix communities and projects in Orange County, Monterey, and the state of Colorado. The construction company’s legacy of milestone achievements also includes the building of the Golden Gate Bridge, the Hoover Dam, and San Francisco’s Bay Area Rapid Transit (BART) system.
John F. Shea and wife Dorothy Babbitt Shea, 2012 (Photo – blogs.lmu.edu).
In 2005, John F. Shea handed over the day-to-day operations of the company to his brother, Peter O. Shea. John currently lives in Pasadena with his wife, Dorothy, where the couple are still involved with philanthropy work at Catholic charities and organizations.
John is a Knight of Malta, Knight Commander in the Order of St. Gregory and he received the Cardinal’s Award from Cardinal Roger M. Mahony in 1996. His wife, Dorothy Babbitt Shea, graduated with a Bachelor of Arts from Loyola Marymount University in 1959, and is a former LMU regent (1991-94), former trustee (1998-2003) and member of the School of Education’s Board of Visitors.
Top 10 list
In case you’re wondering who made the top of the Wealthiest Angelenos list, here’s a ranking of the top 10 individuals.
- Patrick Soon-Shiong
Patrick Soon-Shiong (Photo – de.wikipedia.org).
> Lives in Brentwood with a net worth of $15.4 billion.
> Sold American Pharmaceutical Partners and Abraxis BioScience. Founder and CEO of NantWorks. - Elon Musk
Elon Musk (Photo – en.wikipedia.org).
> Lives in Bel Air with a net worth of $13.3 billion.
> Tesla. SpaceX - Eli Broad
Eli Broad (Photo – commons.wikimedia.org).
> Lives in Los Angeles with a net worth of $7.64 billion.
> Building homes (KB Home) and selling insurance (SunAmerica). - Sean Parker
Sean Parker (Photo – en.wikipedia.org).
> Lives in Holmby Hills with a net worth of $7.62 billion.
> Napster creator. Facebook shareholder. - John Tu
John Tu (Photo – Kingston.com).
> Lives in Rolling Hills with a net worth of $7.1 billion.
> Co-founder of Kingston Technology Corp. - David Geffen
David Geffen (Photo – scrapetv.com).
> Lives in Beverly Hills with a net worth of $6.9 billion.
> Dreamworks SKG co-founder. - Sumner Redstone
Sumner Redstone (Photo – vimeo.com).
> Lives in Beverly Hills with a net worth of $5.5 billion.
> 80% voting interest in Viacom Inc. and CBS Corp. - Tamara “Tammy” Hughes Gustavson
Tamara Hughes Gustavson (Photo – flickr, USC).
> Lives in Malibu with a net worth of $5.49 billion.
> Public Storage Co.’s largest shareholder (11%). - Stewart and Lynda Resnick
Stewart and Lynda Resnick (Photos – chancellor.ucdavis.edu; flickr, Great Valley Center).
> Live in Beverly Hills with a net worth of $4.99 billion.
> Wonderful Co. is the largest almond and pistachio grower in the U.S. - Do Won “Don” and Jin Sook Chang
Do Won and Jin Sook Chang (Photo – koreatimesus.com).
> Live in Beverly Hills with a net worth of $4.76 billion.
> Co-founded Forever 21.
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