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Grizzly Bulls’ Billionaires Index

⬅ # 563 Yasumitsu Shigeta|# 565 Stewart Resnick ➡

# 564 Lynda Resnick 

$5.71B

Real Time Net Worth
as of 6/29/2024

# 564 Lynda Resnick 

$5.71B

Real Time Net Worth
as of 6/29/2024
OccupationCofounder, The Wonderful Company
Source of WealthAgriculture
Age81
ResidenceLos Angeles, California
Marital StatusMarried
Children5
Age-Adjusted Net Worth$1.38B
Lynda Resnick
Lynda Resnick
United States
Net worth: $5.71B

Self-Made Score 

Biography

Early Life

Lynda Rae Resnick was born Lynda Rae Harris in 1943 in Baltimore, Maryland, and raised in Philadelphia, Pennsylvania.
Her father, Jack H. Harris, was a film distributor known for producing 'The Blob', while her mother, Muriel Goodman, worked as an interior designer.
At the age of four, Resnick appeared on 'The Horn & Hardart Children's Hour' on WCAU-TV in Philadelphia.
She graduated from Harriton High School and started working at an in-house ad agency after a brief stint in college.
At 19, she founded her own advertising agency, Lynda Limited.
During the Vietnam War era, she did occasional work for the antiwar movement and was involved in the distribution of the Pentagon Papers.

Career

Resnick co-founded the Wonderful Company with her husband Stewart, which owns brands like POM Wonderful, Fiji Water, and Wonderful Pistachios.
She acquired Teleflora in 1979 and served as its executive vice president of marketing and eventually as president.
The couple purchased the Franklin Mint in 1984, where Resnick directed international marketing efforts until 2000.
She founded POM Wonderful in 2002, initiating medical research on pomegranate health benefits.
In 2004, the Resnicks acquired Fiji Water, increasing its sales by 300% and making it the largest imported bottled water brand in the US by 2008.
Resnick spearheaded the launch of Wonderful Halos mandarins in 2013, which became the #1 segment brand in the market.

Philanthropy

Resnick and her husband have pledged over $2 billion to charitable causes, including climate change research.
They donated $45 million to the Los Angeles County Museum of Art and $10 million in artworks in 2008.
They made significant contributions to UCLA Medical Sciences, the Prostate Cancer Foundation, and the Milken Family Foundation.
In 2019, they pledged $750 million to the California Institute of Technology for environmental sustainability research.
They've invested over $100 million in education programs, scholarships, and community improvements in California's Central Valley.
Their company, Wonderful Company, has implemented minimum wage increases and a giving program benefiting local nonprofits.

Personal Life

Resnick has been married twice, first to Hershel Sinay, with whom she had two children, and then to Stewart Resnick, her current husband and business partner.
They reside in Beverly Hills and also own a home in Aspen, Colorado.
In 2009, she co-authored a memoir, 'Rubies in the Orchard: How to Uncover the Hidden Gems in Your Business', promoting transparency and social responsibility in business.
Resnick's businesses have faced criticisms for their water consumption during California droughts and their ownership of water resources.

How long would it take you to become as rich as Lynda Resnick?

If you started with $10,000 and invested an additional $500 each month at a 44.06% CAGR, it would take you 5 years to reach Lynda Resnick's net worth of $5.71B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.24% compared to 16.19% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Lynda Resnick is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Lynda Resnick, Agriculture is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey