Net Worth Ranker
What Is Anna Shay’s Net Worth?
At the time of her death on June 5, 2023, Anna Shay, the American heiress and reality television personality, had a net worth of $600 million. This substantial net worth was primarily inherited from her family’s wealth, rooted in the success of Pacific Architects and Engineers (PAE).
The Source of Anna Shay’s Net Worth: PAE and Family Wealth
Anna Shay’s wealth originated from her father, Edward Shay, the founder of Pacific Architects and Engineers (PAE). Founded in 1955, PAE became a major defense contractor, providing services to the United States and United Kingdom governments, as well as organizations like the Central Intelligence Agency (CIA). Initially, PAE played a role in the re-development of Japan following World War II.
Edward Shay’s strategic business decisions significantly impacted the family’s net worth. In 1974, he sold a 40% stake in PAE to an employee stock ownership program, only to reacquire those shares in 1988. After Edward Shay’s death in 1995, his son Allen Shay, Anna’s younger brother, took over as Chairman and CEO. The sale of PAE ultimately provided the Shay family with a significant cash windfall.
In 2006, Lockheed Martin acquired PAE for $1.2 billion in cash. However, Lockheed Martin later sold the company to Lindsay Goldberg in 2011 for $700 million. Subsequently, in 2016, Lindsay Goldberg sold PAE to the private equity firm Platinum Equity for an undisclosed amount. The initial $1.2 billion sale to Lockheed Martin in 2006 was a pivotal moment, contributing substantially to Anna Shay’s net worth. This transaction, along with the subsequent sales, ensured that Anna and her brother received considerable financial benefits.
Early Life and Background
Anna Shay was born in Tokyo, Japan, in 1960. Her mother, Ai Oizumi, was of Russian noble descent, while her father, Edward Shay, was an American industrialist. She has a brother named Allen. Anna’s early life was characterized by international travel and exposure to high-profile events due to her family’s considerable wealth. The family relocated to Los Angeles, California, where Anna spent much of her youth attending state dinners and other exclusive functions. Her upbringing was heavily influenced by her family’s position and affluence, largely derived from the success of Pacific Architects and Engineers.
Bling Empire and Television Career
Anna Shay gained public recognition in 2021 through her role in the Netflix reality television series “Bling Empire.” The show, which ran through 2022, followed the lives of wealthy Asian-American socialites in Los Angeles. Anna’s participation in “Bling Empire” was prompted by producer Jeff Jenkins, known for his work on “Keeping Up with the Kardashians.” Her portrayal on the show established her as a witty and outspoken personality.
While “Bling Empire” was a hit for Netflix, it is important to note that Anna Shay’s net worth was largely established before her involvement in the show. Her appearances on “Bling Empire” primarily enhanced her public profile rather than significantly contributing to her financial status. The show also featured other cast members, including Kane Lim, Christine Chiu, Gabriel Chiu, Kelly Mi Li, Kim Lee, Cherie Chan, and Kevin Taejin Kreider.
Personal Life and Real Estate
Anna Shay was married four times and had one son, Kenny Kemp. Kenny gained some media attention in 2015 when he revealed that he maintained a $500,000 collection of bongs at his mother’s Beverly Hills mansion, specifically in an area originally designed as a wine cellar. Details regarding her marriages are limited, but they did not appear to significantly impact her overall net worth.
Anna Shay’s real estate transactions provide insight into her high-value assets. In 2011, she purchased a mansion in Beverly Hills for $9.35 million. She listed the property for sale in April 2020 for $16 million and ultimately sold it for $13.85 million in June 2021. This house, built in 1926, had a notable history, having been previously inhabited by Shirley Temple in 1936 and later owned by Tony Milano, an Italian mafia boss, in the 1940s and 1950s. The sale of this Beverly Hills mansion contributed to her liquid assets.
In March 2020, Anna Shay acquired another home for $5.75 million. This property was originally purchased by Dr. Phil, though his son, Jordan McGraw, was residing there at the time of the sale. The purchase of this property suggests a strategic investment in real estate, further solidifying her asset portfolio.
Philanthropy
As a wealthy heiress, Anna Shay was committed to philanthropic endeavors. She served on the board of the George Lopez Foundation, which focuses on raising awareness about organ donation and kidney disease. Additionally, she was involved with the Shay Foundation, established by her parents, which supports music, education, and the performing arts. Her philanthropic activities also included donating thousands of dollars’ worth of groceries to individuals in need.
