Philip Anschutz started out in the oil and gas business, turning his father’s company around and selling it before starting Anschutz Exploration Co. But the bulk of his net worth is thanks to land investments, which were made to diversify his portfolio, since the oil business is so volatile. In the ‘80s, he struck gold (black gold that is) when he discovered a one-billion-barrel oil field on his Utah ranch. He has spent more than four decades building up his empire, which includes oil fields, Southern Pacific railroads, Qwest Communications, the LA Kings and a third of the Lakers, Walden Media, Regal Entertainment Group, and control of 120 entertainment venues across the world with AEG.
He even rejected offers as high as $7M to sell AEG in 2013. Philip also runs Xanterra Parks and Resorts, which owns and operates lodges and restaurants at national parks across America. As for philanthropic efforts, he has donated $1B to his family foundation and gifted the American Museum of Western Art in Denver his collection of 400 American masterpieces. And as if that's not enough, he also published his first book a year ago titled "Out Where the West Begins: Profiles, Visions and Strategies of Early Western Business Leaders."