Resnicks’ Stake in Kern Water Bank Could Be Worth $1 Billion: Forbes - GV Wire - Explore. Explain. Expose
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Resnicks’ Stake in Kern Water Bank Could Be Worth $1 Billion: Forbes

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Photo of the Resnicks with Caltech President Thomas F. Rosenbaum
Lynda Resnick, left, and Stewart Resnick, right, with Caltech President Thomas F. Rosenbaum after pledging $750 million for university research. (GV Wire File)
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Every year, Forbes compiles a list of the 400 wealthiest Americans. This year, Stewart and Lynda Resnick, who are famous for Pom Wonderful, Fiji Water, and Halos oranges, are ranked No. 108, with an estimated worth of $8 billion.

This week, Forbes decided to calculate how much the Beverly Hills couple’s 57% stake in the Kern Water Bank is worth. With the scarcity of water in the West driving water prices higher, the experts at Forbes say the Resnicks’ water bank holdings could be worth more than $1 billion.

In the latest episode of “Priceless,” Forbes reporters Michela Tindera and Chloe Sorvino are joined by water experts, including SJV Water’s Lois Henry, to talk about how the Resnicks’ acquired their majority interest in the Kern Water Bank and how much it is worth.

Forbes notes that Stewart Resnick bought his first farmland parcel in California in 1978 as a hedge against inflation.

Read more at this link.

 

Bill McEwen is news director and columnist for GV Wire. He joined GV Wire in August 2017 after 37 years at The Fresno Bee. With The Bee, he served as Opinion Editor, City Hall reporter, Metro columnist, sports columnist and sports editor through the years. His work has been frequently honored by the California Newspapers Publishers Association, including authoring first-place editorials in 2015 and 2016. Bill and his wife, Karen, are proud parents of two adult sons, and they have two grandsons. You can contact Bill at 559-492-4031 or at Send an Email

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