Philip Anschutz is the wealthiest man in Colorado, according to Forbes’ recent rankings of the richest Americans.
The billionaire owner of AEG is down one notch on the list from last year, ranking No. 37 with net worth of $6 billion.
While many of Anschutz’s dealings in energy, telecommunications, media and the development of the L.A. Live entertainment district have proven successful, the mogul took a big hit this year on the King of Pop comeback that never was.
Anschutz “saw his big bet on Michael Jackson’s comeback lurch into a drug-induced coma after the pop star’s untimely death in June,” Forbes reported. AEG “lost millions of dollars from ticket refunds, rehearsal costs; recouped some losses selling merchandise, rehearsal footage.”