HOLLYWOOD, Sept. 26 (UPI) -- Marvin Davis, the wealthiest man in Los Angels for 20 years who once owned the 20th Century Fox studio, has died at his Beverly Hills, Calif., home at age 79.
A statement released on behalf of his family said Davis, who had been in failing health, died Saturday of natural causes, the Los Angeles Times reported Sunday.
Davis, an oil wildcatter, was recently estimated by Forbes magazine to be worth $5.8 billion.
Although his fortune was built in the oil fields of Colorado, Oklahoma, Wyoming, Louisiana and Texas, Davis was best known in Hollywood.
At one time he, he owned the NFL franchises Dallas Cowboys and Denver Broncos, the CBS network, United Airlines, Northwest Airlines and the Oakland Athletics baseball team -- as well as marquee properties such as the Beverly Hills Hotel and the Pebble Beach golf course, the newspaper said.
Davis left his hometown of Denver when he bought Fox in 1981 for $720 million in a partnership with commodities trader Marc Rich.
Born Aug. 31, 1925, in Newark, N.J., Davis grew up in New York City and graduated from New York University before entering the oil business.
He is survived by his wife Barbara, five children and 14 grandchildren.