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Grizzly Bulls’ Billionaires Index

⬅ # 520 Daniel Tsai|# 522 Lynda Resnick ➡

# 521 Stewart Resnick 

$5.79B

Real Time Net Worth
as of 7/25/2024

# 521 Stewart Resnick 

$5.79B

Real Time Net Worth
as of 7/25/2024
OccupationCofounder, Chair, and President of The Wonderful Company
Source of WealthAgriculture
Age87
ResidenceBeverly Hills, California
Marital StatusMarried
Children5
Age-Adjusted Net Worth$930.98M
Stewart Resnick
Stewart Resnick
United States
Net worth: $5.79B

Self-Made Score 

Biography

Early Life and Career Beginnings

Stewart Allen Resnick was born on December 24, 1936, in New Jersey, and later moved to California in the 1950s.
He graduated from the University of California, Los Angeles with a BS in 1959 and obtained a JD from the UCLA School of Law.
Resnick founded his first business, a janitorial services company, while in law school, which he sold in 1969.
In 1972, he married Lynda Rae Harris, with whom he has two stepchildren: Jason Sinay and Jonathan Sinay.
Resnick bought his first piece of California farmland in 1978.

Career Highlights

Resnick and his wife, Lynda, co-founded The Wonderful Company in 1979, serving as president and chairman.
They acquired The Franklin Mint in 1986, expanding its collectibles business through new licensing agreements.
POM Wonderful, founded in 2002, significantly increased the production of pomegranates in San Joaquin County.
The acquisition of Fiji Water in 2004 led to a 300% increase in sales within four years, making it the largest imported bottled water brand in the US.
In 2013, they launched Wonderful Halos mandarins, becoming the #1 segment brand in the market.
Their company, Wonderful Pistachios & Almonds, is the world's largest vertically integrated pistachio and almond grower and processor.

Philanthropy

Resnick is involved in various philanthropic endeavors, including serving as a Trustee Emeritus of the J. Paul Getty Trust.
He and his wife have made significant donations to institutions such as Caltech and the Los Angeles County Museum of Art.
In 2019, they pledged a $750 million endowment to Caltech for climate research, marking their largest donation to date.
Their philanthropic efforts also include funding hospitals, educational facilities, and sustainability research centers.
Resnick is on the board of trustees of Bard College and Conservation International, among others.
They have contributed to the growth of local economies and nutrition centers in areas where their businesses operate.

Controversy and Criticism

The Resnicks' agricultural operations, particularly water-intensive nut tree crops, have faced criticism during California's drought.
They own a majority stake in the Kern Water Bank, which has drawn controversy for profiting from taxpayer-developed water infrastructure during droughts.
Critics accuse them of aggressive water consumption practices and lobbying to privatize water resources.
Their company's expansion amidst California's water shortages has raised concerns about the environmental impact and equity of water distribution.
Some of their advertising claims, such as those for POM Wonderful, have faced legal challenges and accusations of being misleading.
Their use of treated fracking wastewater for irrigation has also attracted criticism and raised environmental concerns.

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

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Stewart Resnick's net worth of $5.79B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

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

Stewart 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 Stewart 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