Roski is the president and chairman of Majestic Realty, the largest closely held developer of industrial property in the US. The Los Angeles-based real estate company has more than 90 million square feet of rentable space. The company was founded by Roski's father and his daughter, Reon Roski, is Majestic's chief executive.
Most of Roski's fortune is from Los Angeles-based Majestic Realty, the largest closely held industrial property developer and business park owner in the U.S. with more than 90 million square feet of rentable industrial and office space, according to its website. The billionaire owns all of Majestic, which manages properties in more than 10 states from California to Pennsylvania, including Texas.
The valuation was calculated based on an assessment of 193 properties across the US. Debt is deducted, when known, and a 5% liquidity discount is applied.
Roski owns 3% of the Los Angeles Lakers professional basketball team, according to John Black, a spokesman for the NBA franchise. He also owns less than 10% of the Los Angeles Kings hockey team, according to a person familiar with the holding who asked not to be identified because the information is private. The value of his stake in the NHL franchise isn't valued separately because the exact size of his holding isn't disclosed.
No response was received to messages left with Dee Anna Hunt, Roski's assistant at Majestic Realty.
Born in rural Oklahoma on Dec. 25, 1938, Edward Roski entered his family's real estate business in the 1970s. His father founded Majestic Realty in 1948, operating it mostly as a brokerage company, according to its website. Roski graduated from the University of Southern California in Finance and Real Estate in 1962, and served as an officer in the U.S. Marine Corps until 1966. He fought in the Vietnam War and was decorated for bravery with two Purple Hearts.
On his return, he joined Majestic Realty and helped turn it into the largest closely held industrial property developer in the U.S. The company purchased and developed large parcels of land in California, and has more than 87 million square feet of property, according to its website. Roski became co-owner of National Hockey League franchise Los Angeles Kings in 1995 and owns 3 percent of the National Basketball Association's Los Angeles Lakers. He helped finance construction of the Staples Center, where both teams play.
The billionaire lives in Los Angeles. He has three children.