This California company is one of the richest in the nation in terms of what they control.
It began almost two centuries ago as an agricultural empire built by a pair of immigrants, but today they are mainly in real estate.
The reason they got so rich?
They never stopped owning the land underneath all the homes and office towers that got built on top of the farmland.
Three entire cities sit on this land and pay rent to them.
But they never stopped growing a certain crop.
One which has long been controlled and used by certain cartels as a means of smuggling things.
When the last open pieces of land were built upon, they made sure this crop wasn’t touched.
One of the cities that sits on this company’s land is often voted among the safest in the nation. BS.
They find bodies in the groves every now and then, and the police are paid off to keep it quiet.
When they started building close to the groves, they kicked out any outside building companies and formed their own.
The local council of this city has been for the last 40 years a revolving door of the same players, led by a local politician whose higher ambitions have always been derailed by his own corruption.
Nonetheless, you don’t stay in local politics long there without his stamp of approval.
Founded in 1864
The cost of living
The cost of living in Irvine is 51% higher than the national average. Housing is typically the largest expense for most American households. Jul 31, 2023
What is the richest city in Irvine? Shady Canyon
With a median home price of $25,015,475 and a median rent of $2,416, Shady Canyon is the most expensive neighborhood. Based on the growth in home prices in Shady Canyon over the last 3 years, it ranks No. 1 among all the neighborhoods in Irvine.
Is LA more expensive than Irvine?
Cost of Living Comparison Between Irvine, CA and Los Angeles, CA. You would need around 7,687.1$ in Los Angeles, CA to maintain the same standard of life that you can have with 7,600.0$ in Irvine, CA (assuming you rent in both cities).
Donald Bren, owner of the Irvine Company, has held his throne as the nation’s richest real estate developer, valued at an estimated $18 billion.
About The Irvine Company
The Irvine Company develops suburban master-planned communities throughout central and southern Orange County, California and residential buildings in Santa Monica, Silicon Valley, and San Diego County. The company also owns and manages office buildings in Milpitas, San Jose, Sunnyvale, Downtown San Diego, Mission Valley, San Diego, La Jolla Village/University City, Sorrento Mesa, Del Mar Heights, Newport Center, UCI locations, West Los Angeles, Pasadena, Chicago, and New York City.
The 93,000-acre (380 km2) Irvine Ranch remains the core holding of The Irvine Company. It encompasses almost one fifth of Orange County, from the Pacific Ocean and Newport Harbor, Laguna Beach, and Santa Ana Canyon, to the boundary of the Cleveland National Forest. Of the total ranch area, 44,000 acres (180 km2) is retained for development whilst the remainder – principally rugged canyons, wetlands, and water districts – are maintained as wilderness and recreational preserves collectively known as the Irvine Ranch Natural Landmarks. – Source
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