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Two San Diegans made the list of the 400 richest Americans published by Forbes Magazine. Money manager Charles Brandes is number 331 with an estimated wealth of $1.3 billion, even though his stock investment returns have been disappointing in recent years and money under management has dropped. Irwin Jacobs (pictured), retired chief executive of Qualcomm, is 372nd on the list at $1.15 billion. Beverly Hills-based Tom Gores, whose Platinum Equity owns the Union-Tribune, is 159th with estimated wealth of $2.5 billion. His brother Alec Gores, also in the private equity business, is number 227 with estimated wealth of $1.9 billion. Stockton's Alex Spanos, owner of the Chargers, is 375th with $1.1 billion.

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Comments

SurfPuppy619 Sept. 22, 2011 @ 10:48 p.m.

In 1980 there were less than 10 BILLIONAIRES in America, Donald Trump was one.

Today there entire Forbes 400 are billionaires, while the aberage working man or woman is making LESS than they were 15 years ago-that goes to show you how screwed up this country has gotten................

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Don Bauder Sept. 23, 2011 @ 8:44 a.m.

You are correct. Because of tax, monetary, and fiscal policy -- plus a lot of lobbying -- wealth at the top has zoomed while it has sagged for most Americans. It is encouraging, though, that this is becoming a major political issue: the Republicans defend this state of affairs while the Democrats attack it. This could become the biggest issue in 2012 elections. It's about time. Best, Don Bauder

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Visduh Sept. 25, 2011 @ 8:07 p.m.

Worse yet, these two local specimens appear to prove the adage that there is no fool like an old fool. Jacobs is bestowing huge sums of money here there and everywhere, and the common denominator is that he thinks he knows better than almost everyone else how to run the world. He was smart, he got lucky, and it is now time for him to go home, sit down, and shut up.

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Don Bauder Sept. 26, 2011 @ 7:41 a.m.

Jacobs has been giving money astutely for a long time -- more than $100 million to the San Diego Symphony, for example. Best, Don Bauder

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valueinvestingisdead Oct. 11, 2011 @ 12:20 p.m.

Brandes peaked at $150B under mgmt. I believe and now is down to $27.7B. Still alot but WOW, can you say bad performance and closed accounts?

AUM can be found on their latest underperformance stats on their site.

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