The Colorado billionaire’s latest battle features a surprising opponent: heavy-metal singer Ozzy Osbourne.
2016 Gross state Product:
$343 billion (3.6% Growth) GsP Per caPita:
(ranks no. 16 nationwide) number of billionaires: 10 richest:
philip anschutz nEt Worth: $13.9 billion IT’S A CASE OF rock star versus billionaire.
Philip Anschutz’s Anschutz Entertainment Group (AEG) owns or controls dozens of the world’s best concert venues, including the Staples Center in Los Angeles and London’s O2 arena. So when heavy-metal singer Ozzy Osbourne, 69, wanted to book dates at the O2 for February 2019, AEG said yes—on the condition that he also play the Staples Center.
Feeling pressured, Osbourne directed his U.K. promoter, Live Nation, to sign, even though in L.A. he prefers to play the Forum (a venue owned by AEG’s fierce competitor Madison Square Garden). So Osbourne is now suing AEG, accusing it of violating antitrust law by coercing him and other artists to play Staples while restraining venue competition. AEG attorneys say there’s nothing in the agreement that prevents Osbourne from also putting on a show at the Forum. (The lawsuit is ongoing.)
AEG, worth an estimated $8 billion, makes up the biggest part of Anschutz’s fortune, but he also owns stakes in oil, railroads, telecom, real estate and sports teams, including a third of the L.A. Lakers. Anschutz, 78, who took over his father’s oil-drilling business at age 25, also owns the palatial Mediterranean-style Broadmoor Hotel at the foot of Cheyenne Mountain in Colorado Springs.
“I started coming here when I was 5,” Anschutz told Forbes in 2016 from the Broadmoor (where this picture was taken as well). “When I was 10 . . . I told my mother and father I was going to buy the Broadmoor . . . . Obviously my financial capability was a little short at the time.”