“I remember being 11 years old, celebrating America’s 200th anniversary in Huntsville, Ala.,” said Masimo founder Joe Kiani in a social media post earlier this month. “The air was filled with magic in 1976 and possibilities seemed endless.”
Kiani, who arrived in the U.S. from Iran as a child, made the most of the next 50 years; see Peter J. Brennan’s front-page feature on the medtech entrepreneur, whose wealth we estimate at $1.6 billion, placing him at the No. 40 spot on our OC’s Wealthiest list.
Another new accolade: Forbes this month included Kiani on its list of America’s 250 Most Successful Living Immigrants.
Alongside Kiani (No. 86), others making both this week’s rich list and the Forbes listing are Los Angeles Times owner Patrick Soon-Shiong (17), Olen Properties’ Igor Olenicoff (39), Peggy and
Andrew Cherng of Panda Express (42 and 43), Kingston Technologies’ John Tu (51) and David Sun (67), and Monster Beverage’s
Rodney Sacks (179).
For more on the Kingston duo’s rapid rise on our list, see Kevin Costelloe’s front-page story.
Kiani, a prominent supporter of Democratic politicians, said his inclusion on the Forbes list proves “America is the land of opportunity, and anyone can become an American.”
“My hope for the next 250 years is that we continue to be a beacon for hope and possibilities, and we become a country that truly champions human rights, pursues lasting peace and justice, and lives up fully to its constitution,” Kiani said.
Anthony Hsieh returned to the helm of the Irvine mortgage lender he founded, loanDepot (NYSE: LDI), in 2025. At least one activist investor would prefer the noted sports fisherman return full-time to that hobby.
New York-based Randian Capital on July 15 called for loanDepot’s board to “strongly consider initiating a comprehensive review of strategic alternatives, including a potential sale.”
Shares of loanDepot currently trade around $1, well off its $14 per share IPO price of 2021.
The board “should explore evolving the management structure to ensure the business needs of the company have the full time and attention of the management team,” Randian Capital said.
“A successful sale of the company may be the best way for shareholders to finally realize fair value, and Mr. Hsieh to free up his time for the open water.”
Hsieh, who controls a nearly 32% stake in loanDepot, was worth an estimated $1.25 billion on last year’s OC Wealthiest list. He didn’t make this year’s list as the bar has risen to a minimum $1.5 billion.
The tech boom has pushed a few locals past Donald Bren on our OC’s Wealthiest list, but the Irvine Co. chairman’s valuation continues to rise. Our conservative estimate for the richest real estate owner in the country is $21.1 billion this year, placing him at No. 5 on the list.
Bren’s heavy influence on the City of Irvine – whose population has surged about 50% since 2010, the most of any big city in the state – has made plenty of others wealthy, too.
A recent feature in the San Francisco Chronicle notes that average home prices in Irvine, now at $1.57 million, are “up 80% since 2019, the largest jump of any California city with at least 200,000 residents.”