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Published on: 12/1/2006
Last Visited: 4/21/2007
DAVID C. LIZARRAGA 047
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In the 1960s as a young man in East LA, David Lizarraga saw the many empty buildings and the out-of-work families in his neighborhood.An activist at a young age, Lizagarra learned philanthropy from his parents, both of whom were active in working with the needy.In 1973, he became president of The East Los Angeles Community Union (TELACU),a not-for-profit community development corporation.He leveraged a hefty $10 million federal grant and used his real estate investing knowledge to turn that into $100 million for TELACU.
Why he made the list:
Lizarraga has devoted his life to building hundreds of high-quality affordable homes, creating jobs, and lending of millions of dollarsto families and small business entrepreneurs.One of the most successful businessmen on the West Coast, Lizarraga has assets in excess of$400 million.He is also the chairman of the United States Hispanic Chamber of Commerce [USHCC], the largest organization for Latino businessmen in the US.A very successful entrepreneur, he was elected at a time when the organization was in serious political and financial struggle, and he managed to save it from sinking.He serves as a boardmember for various organizations.
Our Prediction:
In May of this year, The USHCC applauded the passage of Senate Immigration Bill S2611, which aims at resolving the immigration controversy.Expect Lizarraga and the USHCC to keep a watchful eye on the Democrats, and maybe even intervene if the reform details too far from what the bill initially proposed.
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