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.