LA Dreams Magazine recently completed a comprehensive in-depth research study of the Four Affluent & Influential Male Segments of Los Angeles. Our findings were based on both demographic and psychographic research that define our Four Affluent & Influential male readers and their profiles. There are Four Male Segments:
- International: Asian & Middle Eastern.
- Entrepreneurs: Global & Regional.
- Corporate: Fortune 500 & Professional Services.
- Entertainers: Celebrities & Managers.
Each of these males represent the TOP 1% of wealth compared to other American males with net-wealth of at least $10 million. The concentrated neighborhoods where they live are the most prestigious, including: West LA, San Gabriel Valley, Coastal and West San Fernando Valley.
There are seven major categories where they spend and invest: real estate, financial investments, luxury/exotic autos, collections and hobbies, travel and entertainment, fashion and watches, and charities and education. Each segment has different core values and perceptions based on family, friends, business associates, education, experiences, reading, research, business and social events.
Each of the Four Affluent & Influential Male Segments are voracious readers and 88% read thirty minutes each day at the office, home and when traveling. They read both online and print to increase their knowledge-base to uncover opportunities to make more money and to make themselves more valuable.
The difference between women and men purchasing behaviors is significant. Men tend not to be weekly shoppers but rather, ‘strategic buyers and investors’ in each of the seven economic lifestyles. They conduct research on each category and brand within each segment before making a purchase. The final selection of a brand within each consumer product category or long-term investments are more likely to be based on the perception and image they want to portray to their business, social networks, family values and interests.
The Affluent International Male
The results are in, and all evidence suggests Los Angeles has become a top 5 international cosmopolitan region of the world. The driving factor behind this evolution into global prominence? The international market; specifically, the new ultra-wealthy Asian and Middle Eastern males.
The San Gabriel Valley of 2 million residents has become majority Asian with high net-worth families hailing from China, Hong Kong and Korea, choosing to reside in the affluent communities of San Marino, Bradbury Estates, La Cañada Flintridge and Arcadia. In addition to the social and cultural pull, exceptional public schools along with historic estates are the driving force to this region.
MIDDLE EASTERN MALE
The very wealthy population from Iran immigrated to Beverly Hills following the ouster of the Shah. Extremely wealthy families from Saudi Arabia, Dubai and other oil rich areas also invest and live in West LA. Exclusive, rare masterpiece estates draw these ultra-wealthy buyers to the most exclusive real estate in the world.
The NEW LA Global Influence
These affluent residents have arrived in Los Angeles with million and billion-dollar investment funds to establish deep roots in the United States. Who could blame them for landing in a place with the prestige and economic backing of LA County? There is no better place for the international male than Los Angeles.
The Affluent Entrepreneur Male
Innovation and new technology drive today’s entrepreneurial male. Los Angeles is the innovation capital of the world featuring numerous incubators and venture firms – providing the entrepreneur all the resources necessary to launch world-renowned businesses. Regional economics often play a large role in the scale of business ventures, and with California being the world’s 6th largest economy, there is no shortage of business opportunities.
Los Angeles has three distinct hubs of new technology incubation: DTLA, Silicon Beach and the San Gabriel Valley. The entrepreneur lifestyle differs from other affluent males in that the distance between work to home is a primary factor in where they live, work and play. These three primary regions have become the new entrepreneurial centers in Southern California and have boomed from this new economy.
The son of Lithuanian immigrants, Eli L. Broad is an American entrepreneur and philanthropist. He is the only person to build two Fortune 500 companies in different industries (KB Home and SunAmerica). He bought his first real estate at age 20 and co-founded home builder Kaufman & Broad in 1957. It became one of the nation’s biggest home builders, supplying parents of baby boomers with affordable housing. He later bought Sun Life Insurance, transforming into annuities giant SunAmerica, before selling it to AIG for $18 billion in stock in 1998. In 2015, Eli Broad and his wife Edythe opened The Los Angeles Art Museum and welcomed 823,000 visitors in its first year. Known as The Broad, it offers free general admission to view 2,000 works from the couple’s estimated $2 billion contemporary art collection. The Broad’s foundations, which have $3 billion in assets, support medical research, public education and Los Angeles civic projects.
Robert Cornelius “Bobby” Murphy is an American internet entrepreneur and engineer. He is the co-founder and the CTO of the American multinational technology and social media company Snap, Inc., which he created as Snapchat Inc. with Evan Spiegel and Reggie Brown while they were students at Stanford University. In 2016, Snap launched video-capturing sunglasses called ‘Spectacles’, and in 2017 Snap Inc. debuted on the New York Stock Exchange.
Elon Musk is a business magnate, investor, engineer and inventor. He is founder, CEO and CTO of SpaceX; co-founder, CEO and product architect of Tesla Inc.; co-chairman of OpenAI; founder and CEO of Neuralink. He was previously co-founder and chairman of SolarCity; co-founder of Zip2; and founder of X.com, which merged with Confinity and took the name PayPal. Musk has stated that the goals of SolarCity, Tesla, and SpaceX revolve around his vision to change the world and humanity. His goals include reducing global warming through sustainable energy production and consumption, and reducing the risk of human extinction by making life multiplanetary by establishing a human colony on Mars. In addition to his primary business pursuits, he has also envisioned a high-speed transportation system known as the Hyperloop, and has proposed a VTOL supersonic jet aircraft with electric fan propulsion, known as the Musk Electric Jet.
Evan Spiegel is an American internet entrepreneur. He is the co-founder and CEO of the American multinational technology and social media company Snap, Inc., which he created as Snapchat Inc. with Bobby Murphy and Reggie Brown while they were students at Stanford University. Spiegel and Murphy each own about 18% of Snap but have voting shares that give them control over the board. With Snap Inc.’s debut on the New York Stock Exchange, Spiegel became the youngest public company CEO when Snap began trading in March 2017.
The Affluent Corporate Male
There is no better place to do business than Los Angeles. In 2015, Los Angeles County had the country’s largest county GDP at a whopping $663 billion. Furthermore, LA is the #1 trade hub in the nation, a formula which equates to incredible business opportunity.
The professional services and entertainment industries drive the corporate male of Los Angeles. These males can be found working in three central regions of commerce: West Los Angeles, DTLA and the San Gabriel Valley. These corporate males traditionally live in close proximity to each hub in areas such as: La Cañada Flintridge, Pasadena, the coastal cities, and select West LA neighborhoods. Most recently, there has been a migration of corporate males to DTLA due to the renaissance of the area. Our summary: Los Angeles means business.
South African born American surgeon, Patrick Soon-Shiong is currently chair of NantWorks, LLC, Executive Director of the Wireless Health Institute and Adjunct Professor of Surgery at UCLA, and a visiting professor at the Imperial College London. He is also chair of the Chan Soon-Shiong Family Foundation and chair and CEO of the Chan Soon-Shiong Institute for Advanced Health, National LambdaRail and the Healthcare Transformation Institute. In 2008, he sold American Pharmaceutical Partners and in 2010 he sold Abraxis for a combined $9.1 billion. In 2015, he went public with his biotech company NantKwest and in 2016 with his biotech startup NantHealth. As of December 2016, Dr. Soon-Shiong has 230 issued patents, with 92 in the US and 138 international. He also has stakes in media firm Tronc, Inc. and the Los Angeles Lakers.
William Barron Hilton
William Barron Hilton is an American business magnate, socialite, and hotel heir. As son and successor of hotel pioneer Conrad Hilton, he has created a record in business and philanthropy that mirrored the success of his famous father. Hilton introduced gambling to hotels making Hilton Hotels the first NYSE-traded company to enter the casino gaming industry. In 2007, he sold Hilton Hotels to private equity firm Blackstone for $26 billion; personally netting $800 million from the deal, he pledged 97% of his wealth to the Conrad N. Hilton Foundation, which is run by his son Steven. He is the retired Chairman, President and CEO of Hilton Hotels Corporation, and Chairman Emeritus of the Conrad N. Hilton Foundation. Hilton was also a founding partner of the American Football League and the original owner of the Los Angeles Chargers.
The Affluent Entertainer Male
Known as the Entertainment Capital of the World, West Los Angeles is home to the famous entertainers as well as the titans and executives of the entertainment industry. “The Biz” is centered around tight networks and exclusive deals, with many social business interactions occurring at industry events, social events, restaurants and charity galas.
With the Burbank Media Corridor as the corporate headquarters for entertainment giants, some executives and entertainers prefer the more secluded neighborhoods of La Cañada Flintridge in the San Gabriel Valley or Calabasas in the West San Fernando Valley. These communities provide nationally-renown schools and amenities, perfect for the executive producer type.
There is no doubt that entertainment is still a key driving factor in LA’s booming economy. The creative and entertainment industry employs over 164,000 people and generates $293.8 billion for California’s economy. For the affluent male at the forefront of entertainment, there is no better place in the world to do business and call home than Los Angeles.
David Geffen is an American business magnate, producer, film studio executive and philanthropist. Geffen founded Asylum Records in 1970 and Geffen Records in 1980 launching careers of bands including The Eagles, Aerosmith and Guns N’ Roses. In 1990, he sold Asylum to MCA for $550 million and four years later, with Steven Spielberg and Jeffrey Katzenberg, he co-founded DreamWorks SKG. His donations to the David Geffen School of Medicine at UCLA and other educational and research donations have widened his fame beyond the entertainment industry. In 2015, the Lincoln Center unveiled the David Geffen Hall, formerly known as Avery Fisher Hall, after Geffen gave $100 million for the hall’s renovation and in April 2016, he donated $100 million to the Museum of Modern Art in New York City.
Steven Spielberg is an American director, producer and screenwriter. He is considered one of the founding pioneers of the New Hollywood era, as well as being viewed as one of the most popular directors and producers in film history. The veteran movie maker, who won the Academy Award for best director twice for ‘Shindler’s List’ and ‘Saving Private Ryan’, has been directing for over 50 years and his films have grossed over $9 billion worldwide. DreamWorks Animation, the studio he co-founded with Jeffrey Katzenberg and David Geffen, was sold to Comcast in 2016. Since then, DreamWorks Studios has been relaunched as Amblin Partners with more than $300 million in new financing.
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