06/21/2009 05:12 am ET | Updated May 25, 2011

L.A.'s Billionaires Lost Big Last Year (SLIDESHOW)

Los Angeles may have famously gorgeous weather, but the economic climate is far from bright. The Los Angeles Business Journal reports that the 50 richest residents of Los Angeles Count lost a total of more than $32 billion last year. As business titans like like Steven Spielberg, Kirk Kerkorian, and David Geffen all lost millions, the city of Angeles is now left with only 29 billionaires.

For the full list of who lost the most read the full story, or view our slideshow below.

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