As the founder of global private equity firm Platinum Equity, this Beverly Hills-based billionaire has an estimated current net worth of $2.5 billion. Gores added another accolade to his collection of assets in 2011 by purchasing the NBA’s Detroit Pistons.

As the daughter of F1 boss Bernie Ecclestone, Petra Ecclestone-Stunt didn’t have to work a day in her life. Yet, the heiress still takes pride into going into an office in the name of her handbag line, Stark. The British-born beauty is also officially now an LA girl after buying Aaron Spelling’s Holmby Hills mega-mansion, The Manor.

Forbes ranked Anschutz as the 47th richest person in the U.S. with an estimated net worth of $7.6 billion. He will become even richer this year when the sale of his company, Anschutz Entertainment Group (AEG), goes through. AEG’s LA holdings include L.A. Live, the Staples Center, the L.A. Kings and L.A. Galaxy.

Ross’ Related Companies has been a force in the industry since its inception, with trophy developments across the nation. In 2008, he purchased 50 percent ownership of the Miami Dolphins and the stadium for $550 million, and followed that up in 2009 by becoming 95 percent owner. Ross’ mobile technology company FanVision is developing a smartphone-compatible version of the service synonymous with the instant replay. Formerly known as Kangaroo TV, the company has operated at sporting events using a wireless device that provides replays, alternate video angles, radio broadcasts, fantasy football content and statistics in real time.

This Wharton grad made his first fortune from selling a contact lens company to Cooper Labs for $60 million in 1971. He then became the president of cable television pioneer Vision Cable Communications. Lindemann is also chairman and CEO of Activated Communications, Inc., a diversified communications firm headquartered in New York City. In 1983, he founded Metro Mobile, which merged with Bell Atlantic in 1992, netting Lindemann a cool $2.6 billion. In 1990, the diversified entrepreneur began his current role as the chairman of the board and CEO of Southern Union Company, which is one of the country’s largest natural gas-line companies.