American businessman Philip Anschutz is worth $10.9 billion, according to Forbes, after decades building his fortune across multiple industries.
Shaun Clark/Getty ImagesCoachella Valley Music and Arts Festival, the music festival currently underway in Indio, California, is owned by Anschutz, an 83-year-old billionaire businessman whom The New Yorker once called "the man who owns LA."
He owns Coachella through his company, the Anschutz Corporation, and one of its subsidiaries, Anschutz Entertainment Group (AEG).
AEG owns several athletic teams, operates more than 90 clubs and theaters around the world, and produces or supports more than 25 music festivals.
Take a look at how the billionaire makes and spends his fortune.