THE MONEY: Family owns and runs Costa Mesa-based Arnel & Affiliates, a development and investment company started by George Argyros in 1968.
THE NUMBERS: Arnel & Affiliates’ current portfolio includes 20 apartment communities with more than 5.5K units; about 4.5K of which are said to be in Orange County. The company also owns about 2M square feet of office, industrial and retail space in and around OC. Family has an extensive investment portfolio.
THE REALIZATION: After graduating from Chapman University with a degree in business and economics, Argyros managed a grocery store in Palm Springs. Said he realized he didn’t want to work for somebody else and went into real estate in 1962 by borrowing $1.2K, selling land at busy intersections to gas stations.
DEAL-MAKING: Former owner of the Seattle Mariners for nine seasons, during which the team drafted Hall of Famer Ken Griffey Jr. in 1987. From 1981 to 1987, he also co-owned AirCal with the late developer William Lyon before selling the airline to American Airlines. Said to own a large stock portfolio, in addition to other investments, much of that through family’s Costa Mesa-based investment firm Westar Capital. In recent years, has taken a step back in day-to-day management of his family holdings with daughter Stephanie assuming more responsibilities, including the running of Arnel & Affiliates.
NOTABLE: Main benefactors for Eisenhower George and Julia Argyros Health Center, which runs 92K square feet. Former U.S. Ambassador to Spain.
CHAPMAN UNIVERSITY CONNECTION: George Argyros was Chapman’s longest-serving chair of the Board of Trustees, from 1976 to 2001. His alma mater’s business school was named in his honor in 1999, which was elevated to the George L. Argyros College of Business and Economics in 2023 following a $10M gift from the family. Other campus facilities bear his and his wife’s names, including Argyros Forum, Argyros Global Citizens Plaza and the Julianne Argyros Fitness Center.
PHILANTHROPY: Notable philanthropists well known for their support of the arts, including major contributions to Costa Mesa’s Segerstrom Center for the Arts, home to the Julianne and George Argyros Plaza and Center for Dance and Innovation backed by a $15M donation from the Argyros family. Frequent contributor to other theaters across the country. Other beneficiaries of the family’s foundation over the years include the Alzheimer’s Association, Rady Children’s Health Orange County, the Richard Nixon Presidential Library and Museum and numerous other local causes. Chapman last year awarded George and Julianne Argyros with the university’s highest recognition for decades of philanthropy.
IN THE NEWS: Daughter Lisa follows in father’s footsteps by becoming ambassador. Won Senate confirmation earlier this year to Latvia, where she celebrated America’s 250th birthday by hosting a concert featuring composer and producer David Foster, as well as actresses and singers Katherine McPhee and Kristen Chenoweth. Local dignitaries included Chapman University President Matt Parlow and President Emeritus Jim Doti, OC Arts Patrons Elizabeth Segerstrom and Jane Yada and JP Morgan OC Managing Director Ethan Morgan