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Article: Star struck in the promised land. (investments by millionaires in motion picture industry)
- Article from:
- Los Angeles Business Journal
- Article date:
- June 15, 1998
- Author:
CopyrightCOPYRIGHT 1998 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hollywood Glamour Has Snared Plenty of Millionaires
Paris is chic. London has royalty. Rome has the Pope and New York is well, New York. But for decades many of the world s wealthiest have shunned all those places to settle in Los Angeles.
Why? It's simple - Hollywood.
Since the days when actress Gloria Swanson was asking Mr. DeMille for those famous close-ups, the rich and powerful have been flocking here. Oil barons, industrialists and bootleggers alike have all wanted to be a part of Tinseltown.
"The idea of buying glamour is very attractive," said Judith Krantz, author of popular Hollywood-based novels. "They come because it is a glamorous ...