The 'reclusive' billionaire who owns the LA Lakers and Coachella is also the richest man in Colorado - here's how Philip Anschutz makes and spends his $11.4 billion fortune
- Philip Anschutz is an American businessman who's worth an estimated $11.4 billion, according to Forbes.
- He's one of only two people who have made the Forbes 400 list of the richest Americans every year since the first version was published in 1982.
- The 79-year-old billionaire made his fortune in industries including oil, railroads, telecom, real estate, and entertainment.
- His company, Anschutz Entertainment Group, owns the popular Coachella music festival, the Los Angeles Lakers basketball team, and the Los Angeles Kings hockey team.
- He also owns a cruise ship line and two luxury resorts.
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Through his company the Anschutz Corporation, and one of its subsidiaries, Anschutz Entertainment Group (AEG), the 79-year-old billionaire owns the Los Angeles Kings hockey team and one-third of the Los Angeles Lakers basketball team, as well as both teams' home arena: Staples Center.
AEG operates more than 90 clubs and theaters around the world and produces or supports more than 25 music festivals, including the wildly popular Coachella Valley Music and Arts Festival, which drew more than 100,000 attendees per day in 2018.
Anschutz has an estimated personal fortune of $11.4 billion, according to Forbes.
Anschutz's company did not respond to Business Insider's request for comment on his behalf for this story.
Take a look at how the billionaire makes and spends his fortune.
Philip Anschutz is an American businessman who's worth an estimated $11.4 billion, according to Forbes.
Anschutz has been a billionaire for a long time. He's one of only two people who've made the Forbes 400 list of the richest Americans every year since the first version was published in 1982.
Anschutz went on to make investments in the railroad industry in the 1980s and '90s.
Anschutz then started investing in the entertainment business.
In 1994, Anschutz founded Anschutz Entertainment Group, which today claims to own more teams and manage more sporting events than any other company in the world.
He also owns one-third of the Los Angeles Lakers.
AEG owns Staples Center, the home arena to the Lakers, the Kings, the Los Angeles Clippers, and the Los Angeles Sparks.
Beyond sports, Anschutz owns the wildly popular Coachella Valley Music and Arts Festival.
The Colorado billionaire's empire extends beyond sports, music, and entertainment. Anschutz owns Windstar Cruises, a boutique cruise line with just six ships.
His assets also include at least two five-star resorts.
According to The Land Report magazine, Anschutz is the 27th-largest landowner in the US.
Anschutz keeps out of the public eye. In 2012, George Parker for QUARTZ wrote that Anschutz is "America's most reclusive billionaire."
Anschutz and his wife, Nancy, are longtime residents of Denver, Colorado.
Anschutz has donated millions of dollars to charity, including to Republican political candidates and conservative causes.
The entertainment mogul has also invested in the publishing business.
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