The Oil Baron’s Fortune
Oil tycoon Edward L. Doheny built a vast fortune in the early 1900s by discovering the Los Angeles City Oil Field. His wealth soared to an estimated $100 million by 1925, equivalent to approximately $1.74 billion today.
From Generation to Generation
Doheny’s legacy has been passed down through generations. His son, Edward L. Doheny II, inherited a significant portion of the wealth and his net worth is estimated at over $30 million today.
Philanthropy and Legacy
The Dohenys are known for their philanthropy, supporting education, healthcare, and the arts through the Doheny Foundation. They have made a lasting impact on Southern California, contributing to institutions like the University of Southern California and the Los Angeles County Museum of Art.
Allegations of Corruption
Despite their wealth, the Doheny family has faced allegations of unethical business practices, including the infamous Teapot Dome scandal.
Diversity and Investments
The Dohenys have diversified their investments to preserve their wealth. Edward II’s investment in Sealed Air stock is an example of their financial acumen.
Cultural Footprint
The Doheny family has left a significant cultural legacy in Southern California, supporting museums, universities, and institutions that have shaped the region’s artistic landscape.
Offspring of Lucy Doheny Battson
Lucy Doheny Battson and Edward Doheny Jr. were blessed with five children: Lucy, Edward III, William, Patrick, and Timothy. These heirs inherited not only the family fortune, but also a life of privilege and influence.
The Teapot Dome Scandal
The Teapot Dome scandal in 1921 involved an alleged bribe from Edward L. Doheny to Secretary of the Interior Albert Fall in exchange for prime oil fields in Wyoming. Despite being put on trial twice, Doheny was acquitted, raising questions about the influence of wealth.
Ned Doheny’s Mysterious Death
Ned Doheny Jr. was discovered dead at Greystone Mansion in 1929, with a gunshot wound to the head. His secretary, Hugh Plunkett, was also found dead with a similar wound. Despite the prevailing narrative of murder-suicide, questions about the circumstances and the possible role of the Teapot Dome scandal persist.