How Ed built the fortune
Ed Roski Jr. built his wealth in warehouses and distribution centres. His father, Edward Roski Sr., founded Majestic Realty in Los Angeles in 1948, and the younger Roski joined the family company in the 1960s after military service. He became its president and later its chairman and chief executive, steering it from a regional builder into a national developer.
The key decision was a sustained focus on industrial property in the City of Industry and the wider Inland Empire east of Los Angeles, close to the ports of Los Angeles and Long Beach. As trade with Asia grew and online retail took off, demand for large logistics buildings in the region rose sharply, and Majestic held a large land bank and portfolio there. The company also expanded to other distribution hubs around the United States.
Because Majestic is privately held and long-term in outlook, the family keeps the rental income and the appreciation of the properties rather than selling projects after completion.
Majestic's projects range from single warehouses to large business parks with dozens of buildings, and the company often works with major tenants on custom facilities. The Southern California industrial market became one of the tightest in the United States in the 2010s and early 2020s, which benefited long-term owners such as Majestic.
Roski has also been involved in projects outside industrial real estate, including office developments, retail centres and entertainment venues, often in partnership with other developers and sports owners.
Companies and holdings
Majestic Realty develops and owns industrial, office, retail and mixed-use property. It has built tens of millions of square feet of space, much of it leased to retailers, logistics firms and manufacturers.
Roski also has major interests in sports and entertainment:
- He partnered with Philip Anschutz to develop Staples Center, now Crypto.com Arena, which opened in downtown Los Angeles in 1999
- He has held minority stakes in the Los Angeles Lakers and Los Angeles Kings
- He championed a proposed NFL stadium in the City of Industry in the late 2000s, a project that did not go ahead
Majestic has long-standing relationships with major retailers and logistics companies, and it has developed facilities in markets such as Atlanta, Dallas, Denver and Pennsylvania in addition to its California base. Its business park in the City of Industry is one of the largest master-planned industrial parks in the Los Angeles area.
Early life and career
Roski was born in 1938 in Los Angeles. He attended the University of Southern California, where he studied finance and real estate, and after graduating served as an officer in the US Marine Corps.
After his military service he returned to Los Angeles and joined Majestic, learning the business through leasing and construction projects before taking over its leadership. His tenure coincided with the expansion of the Los Angeles basin's trade economy, which turned industrial land into one of the most sought-after property types in the country.
Roski has spoken about the influence of his father and of the discipline he learned in the Marine Corps on his approach to business, which emphasises long-term relationships with tenants, partners and local governments.
During his leadership, Majestic shifted from building mainly for the local market to serving national tenants, and it formed partnerships with large retailers to develop distribution centres across several states. That expansion took place over decades and helped the family business become one of the leading private industrial developers in the country.
Philanthropy and public life
Roski is one of the most prominent supporters of the University of Southern California, where he has served on the board of trustees. In 2006 he and his wife, Gayle, made a large gift to the university's art school, which became the USC Roski School of Art and Design. He has also funded athletics, medicine and scholarships at the university.
Outside USC, he has supported youth, conservation and civic causes in Southern California. He is known locally as a deal-maker in sports and development but tends to avoid personal publicity.
He has also been honoured by industry organisations for his contributions to commercial real estate in Southern California.