AUCTION OF FINE ART
Business
Ever Upward
Three metro Detroit
Jews rank among
the 400 richest
Americans.
presented Ly
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Cl ub • 5000
—ciirlane V/oock Drive • Dearborn,
on
William Davidson
Tuesday, October 23,
A rt Preview Witt] - Or d'oe uvres
2001
\,ine Tasting Reception
Max Fisher
5:30 p.m.
5-Course Dinner paired witb wines presented hy John Jonna of Merckants' -rine Vine
7:00 p.m.
A uction
immediately following dinn er
T o eenefit Student Scholars.
C omplimentary catalog • $50 Donation per person
T able Sponsors:kips: availaLle
-For additional information and to r.s.v.p. please call
Bernadette eanko at 313/581/4400 ext. 417
„,
PARKWEST
G.A.L.L.E.R.Y
q;ine
away.
Heartland Health
Care Center
West Bloomfield
Skilled Nursing and
Assisted Living
6950 Farmington Road
West Bloomfield, MI 48322
248.661.1700
Heartland Health
Care Center Georgian
Bloomfield
Skilled Nursing,
Assisted Living
and Alzheimers Care
2945 North Adams Road
Bloomfield Hills, MI 48304
',et
10/12
2001
102
248.645.2900
Owned& Operated by HCR ManorCare
A. Alfred Taubman
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affordable rates.
ALAN ABRAMS
Special to the Jewish News
T
hose reports you've been
hearing about tough eco-
nomic times haven't nega-
tively affected the fortunes
of the three Michigan Jews on the
annual Forbes magazine list of the 400
richest people in America.
The numerical standing and the net
worth of all three greatly increased
from last year, with A. Alfred
Taubman returned to the list after a
one-year absence.
William Davidson of Bloomfield
Hills is No. 85 and Max Fisher of
Franklin is No. 320 in the compila-
tion. Taubman, of Bloomfield Hills, is
listed as No. 340.
Davidson, 78, chief executive officer
of Auburn Hills-based Guardian
Industries Corp. and owner of the
Detroit Pistons basketball club and
hockey's Tampa Bay Lightning,
jumped from the No. 112 position he
held last year. Also up was his net
worth, now listed as $2.2 billion, an
increase of $100 million since 2000.
Fisher, at 93 still the oldest on the
list, also was up from last year's rank-
ing at No. 380. His net worth now is
given at $800 million, a $40 million
increase over last year's figure. The list
attributed the increase to his "big
stakes" in Comerica and Charter One,
which were up this year.
Taubman, the 76-year-old shopping
center magnate and former chairman
of Sotheby's, made an impressive
comeback. Last year, Taubman was
second on the "Near Miss" category
with a net worth of $720 million.
This year, his net worth has jumped to
$770 million. Why? The list cites the
three shopping malls he is building in
Florida as well as one in Texas. It also
says he invested in the Russian-lan-
guage daily newspaper Versia.
Taubman remains the largest share-
holder in Sotheby's, the New York auc-
tion house he bought in 1983 and
took public in 1988.
Two former metro Detroiters who
are Jewish finished high among the
top 400. Steven Anthony Ballmer, the
45-year-old chief executive of
Microsoft, made No. 10. Ballmer, who
lives in Redmond, Wash., finished sev-
enth last year. His net worth also is
down from last year's $17 billion. But
he's still worth $15.1 billion.
Eli Broad, the 68-year-old founder
of homebuilder Kaufman & Broad
(now KB Home) and insurer Sun
America, moved up to No. 26. Listed
last year as No. 43, Broad, who lives in
Brentwood, Calif, now has a net
worth of $5.5 billion, up from last
year's $5.2 billion.
But the news wasn't as good for all
400 when their net worth was com-
bined. Their total worth fell from $1.2
trillion in 2000 to $946 billion this
year. This was only the third time
since Forbes began compiling the list
in 1982 in which that has occurred.
The list also reflected the decline in
dot.com fortunes; 54 New Economy
entrepreneurs disappeared from the
list. Those who have made their for-
tunes in more traditional enterprises,
such as manufacturing and retailing,
replaced them.
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