Word: ahmannson
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...ANGELES' AHMANNSON, who started out with $588 from selling insurance and was well on his way to his $50 million fortune by the time he was 30. Ahmanson's big secret is keeping plenty of hard cash on hand to invest in profitable deals. In 1947 Ahmanson plunked down more than $100,000 for the city's Home Savings & Loan Association. Today it boasts assets of $220 million and is the world's biggest loan company. After World War II, Ahmanson bought up the 290-acre Baldwin Hills district in Los Angeles, the last big undeveloped...