Ed Roski Jr.

Last updated

Ed Roski Jr.
Born1938 (age 85–86)
Oklahoma, United States
Alma mater University of Southern California
OccupationBusinessman
Known for Real estate development

Edward P. Roski Jr. (born 1938) is an American businessman and philanthropist. He is a billionaire, president of Majestic Realty, and appeared at #115 on the Forbes 400 in 2021, [1] and owns more than 83 million square feet of real estate across the United States, as a business park developer through his company. [1] [2] Roski has served as its president since 1994, and previously as the executive vice-president and chief operating officer, from 1978 to 1994. [3] He is a partial owner of the Los Angeles Kings, and the Los Angeles Lakers, and owns the Silverton Las Vegas. [4] He is also a decorated veteran of the Vietnam War and art collector.

Contents

Early life and education

Roski was born in 1938, in Oklahoma. [5] His father Ed Roski Sr., was the son of a poor immigrant family from Poland who did not finish high school. [6] Roski Sr. served in the United States Navy during World War II, [6] [7] then moved the family to Southern California, where he founded Majestic Realty in 1948. [6] Roski Jr. attended Loyola High School in Los Angeles, and graduated from the University of Southern California in 1962, with a bachelor's degree in real estate and finance. [3] [5] [8] He joined Majestic Realty in 1966. [3]

United States Marine Corps

Roski enrolled in the United States Marine Corps after graduating in 1962. After attending The Basic School at Marine Corps Base Quantico, he reported to the First Marine Brigade, and was later assigned to 1st Battalion, 4th Marines. [7] [9] In 1965, Roski was deployed from Marine Corps Air Station Kaneohe Bay to South Vietnam. He was wounded in Chu Lai during Operation Starlite, and was awarded a Bronze Star Medal and two Purple Hearts. [5] [8] [9] [10]

In 2000, General James L. Jones and the Marine Corps Scholarship Foundation honored Roski with its Semper Fidelis award. [8] [9] In 2007, Roski founded the Land of the Free Foundation to support war veterans and families, and he has contributed more than $10 million to its efforts. [8] [10] [11] In October 2017, Roski earned the Circle of Honor Award from the Congressional Medal of Honor Foundation. [11] [12] [13]

Professional sports teams

Roski became a minority owner of the Los Angeles Kings in 1995 and a minority owner of the Los Angeles Lakers in 1998. [12] [14] [15] Roski and Philip Anschutz were majority owners of the Los Angeles Arena Company, looking to replace the Great Western Forum for the Kings, and exercised an option to buy 25% of the Lakers, with the Lakers agreeing to become a tenant in the planned arena. [16] During his minority ownership, the Lakers won NBA Championships in 2000, 2001, 2002, 2009, 2010 and 2020; [15] and the Kings won the Stanley Cup in 2012 and 2014. [14]

Roski proposed a stadium in the Los Angeles suburb of the City of Industry for a National Football League team. [17] In 2010, the California legislature passed a bill that gave Roski an exemption to environmental review for the $800 million stadium proposal. [18] The deal was not completed, due to the announcement of the SoFi Stadium instead. Roski was also part of a $1 billion project to build Allegiant Stadium for the relocated Oakland Raiders and the UNLV Rebels football teams, [19] but later pulled out of the project. [12]

Philanthropy

Roski has served as chairman and a trustee on the University of Southern California board of directors. In 2006, he and his wife donated $23 million for its fine arts school, since renamed the USC Roski School of Art and Design. [8] [20] [21] In 2016, Roski and his wife donated $25 million to the eye institute at the Keck School of Medicine of USC. [1] [21] [22] Roski set up the Majestic Realty Foundation in 2002, a community outreach program focusing on youth, family, education, health and violence prevention. [11] The foundation makes grants of over $2 million annually. [5]

Personal life

Roski was married to Gayle Garner Roski until her death on October 21, 2020. [23] They had three children, [5] and resided in Toluca Lake, Los Angeles. [12] [17]

Roski has bicycled across Ireland, Mongolia, Myanmar, and Russia. [5] [9] [10] [18] He has visited the wreck of the RMS Titanic in a Russian submersible, [5] [10] [18] and gone deep diving in waters off New Guinea. [5] [10] His Mountaineering ventures include base camp at Mount Everest, K2, and Mount Kilimanjaro. [5] [9] [10] He purchased ticket #128 on Virgin Galactic's SpaceShipTwo. [18] [24]

Roski is an honorary director of The Explorers Club, [10] and is part of the National Geographic Society executive committee. [3] [10] He has served on the boards of directors for the Los Angeles County Museum of Art, the Bowers Museum, the California Science Center, the Natural History Museum of Los Angeles County, the House Ear Institute, and Loyola High School. [3] [5] [9] [10] Roski is a collector of African art, Indigenous Australian art, and Indigenouisms from Oceania. [5] [10] [18] He donated the "Spirits and Headhunters" exhibit, on display at the Bowers Museum. [10]

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References

  1. 1 2 3 "Edward Roski, Jr". Forbes. Retrieved February 15, 2021.
  2. ↑ "Edward Roski". Bloomberg.com. Retrieved January 21, 2018.
  3. 1 2 3 4 5 "Edward P. Roski Jr.: Executive Profile & Biography". Bloomberg. Retrieved January 21, 2018.
  4. ↑ Bernhard, Marcella (January 16, 2001). "Potential Las Vegas Hilton Buyer Folds His Cards". Forbes. Retrieved January 21, 2018.
  5. 1 2 3 4 5 6 7 8 9 10 11 "Edward P. Roski". USC Price. Retrieved January 21, 2018.
  6. 1 2 3 Valle, Victor (2009). "Triangulating the Throne". City of Industry: Genealogies of Power in Southern California. Piscataway, New Jersey: Rutgers University Press. ISBN   978-0-8135-4573-8.
  7. 1 2 Wagner, James (March 18, 2010). "War brought two men together as friends, business partners". Daily News. Retrieved January 20, 2018.
  8. 1 2 3 4 5 Krieger, Diane (September 10, 2015). "USC to honor America's military at Idaho game". USC News. Retrieved January 21, 2018.
  9. 1 2 3 4 5 6 Paffrath, Pete. "K-BAY Marine Corps Bios" (PDF). K-BAY Marine Corps. Retrieved January 21, 2018.
  10. 1 2 3 4 5 6 7 8 9 10 11 Janulis, Ted. "Welcoming Ed Roski As Honorary Director". The Explorers Club. Retrieved January 21, 2018.
  11. 1 2 3 Nisperos, Neil (October 11, 2017). "Congressional Medal of Honor Foundation Gives Highest Honor to Edward Roski Jr". Los Angeles Business Journal. Retrieved January 21, 2018.
  12. 1 2 3 4 "Wealthiest Angelenos: 11. EDWARD ROSKI JR". Los Angeles Business Journal. August 24, 2017. Retrieved January 21, 2018.
  13. ↑ "Congressional Medal of Honor Foundation Presents Highest Award to Los Angeles Businessman and Philanthropist Ed Roski". PR Newswire. October 11, 2017. Retrieved January 14, 2019.
  14. 1 2 "Los Angeles Kings Team History". Sports Team History. January 20, 2017. Retrieved January 22, 2018.
  15. 1 2 "Los Angeles Lakers Team History". Sports Team History. December 23, 2016. Retrieved January 22, 2018.
  16. ↑ Hodges, Jim (November 5, 1998). "Anschutz, Roski Buy 25% Stake in Lakers". Los Angeles Times . Retrieved January 21, 2018.
  17. 1 2 Dwyre, Bill (August 12, 2011). "Ed Roski and the other Los Angeles NFL stadium idea". Los Angeles Times. Retrieved January 20, 2018.
  18. 1 2 3 4 5 Taub, Daniel; Effinger, Anthony (February 13, 2010). "The quarterback of L.A.'s quest for an NFL team". Star Tribune. Bloomberg News. Retrieved January 21, 2018.
  19. ↑ LaCanfora, Jason (March 22, 2017). "Get ready, Las Vegas: All signs point to the Raiders winning relocation vote Monday". CBS Sports. Retrieved January 20, 2018.
  20. ↑ Muchnic, Suzanne (March 10, 2006). "Generous boost for USC's art school; Developer Ed Roski and his wife donate $23 million to the university where they met". Los Angeles Times. Los Angeles. pp. E2. Retrieved January 21, 2018.[ dead link ]
  21. 1 2 Lipinski, Lynn (April 5, 2016). "Visionary gift names the USC Roski Eye Institute". USC News. Retrieved January 21, 2018.
  22. ↑ "Billionaire Ed Roski, Wife Donate $25M To USC Eye Institute". CBS Los Angeles. Associated Press. April 5, 2016. Retrieved January 21, 2018.
  23. ↑ Schmidt, Grayson (October 26, 2020). "Gayle Garner Roski, artist, benefactor and namesake of USC art school and eye institute, 79". USC News. University of Southern California . Retrieved August 21, 2021.
  24. ↑ Yoshino, Kimi (March 3, 2007). "You'll want a window seat". Los Angeles Times. Retrieved January 21, 2018.
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