Richard “Dick” Pickup, an Orange County philanthropist who made a fortune as a securities trader and investor, died of a stroke on Thursday, April 25. He was 90 years old.
Pickup’s family said the Newport Beach resident spent his last day working in his office trading stocks and eyeing his next investment deal.
Passionate about golf, cars and giving his money away, just five months ago Pickup through his family’s foundation gave $50 million to Hoag Hospital.
Calling it “the best money I ever spent,” the Whittier College grad was investing once again, this time in neurosciences, helping to expand the Hoag’s Neurosciences Institute into the Richard H. Pickup Center for Brain Health. The gift followed another $15 million donation to Hoag in 2017.
Robert Braithwaite, president and chief executive of Hoag, on Tuesday called the contributions “transformational.”
“Orange County’s health care landscape is better because of Dick Pickup, and for that, we are truly grateful,” Braithwaite said in a statement to the Register. “His support and friendship with institute leaders fueled the growth of the institute and delivered life-changing programs and care to countless people.”
Pickup’s passion for brain research and intervention programs was inspired by his brother, who suffered from Alzheimer’s disease before he died, the family said.
Born in January 1934 in Whittier, Dick Pickup served in the Army after college before launching a career as a stockbroker in Los Angeles.
The man with a penchant for studiously taking notes eventually moved to Newport Beach, where he started investing on his own. He was one of the biggest shareholders of Epicor Software Corp., which makes software for businesses, and was named to the company’s board of directors in 2009.
The Pickups in 2012 made what was considered an unusual move for the golf-loving family when they bought a yacht club.
Pickup, his son Todd and son-in-law Kevin Martin saw an opportunity to invest in a local landmark after a Chinese investor backed out. A family investment group paid an undisclosed amount of money for the Balboa Bay Club, the 160-room Balboa Resort and Newport Beach Country Club.
The group, Eagle Four Partners, spent a reported $54 million transforming the dated, 64-year-old club — which once drew Hollywood royalty such as Humphrey Bogart, Lauren Bacall and John Wayne — into a destination that would appeal to yachties and young people alike.
Longtime club member John Wortmann, who also sat on the board of governors, said the members-only club transformation was part of an effort to be “more inclusive (and) have a mix of people with different interests.”
In his later years, Pickup focused his charitable giving on healthcare research.
At the Hoag announcement last year, he said the contribution to brain health was a gift that would keep on giving.
“What we are now doing for others is the highest form of investment I have ever made and some of the best money I have ever spent. And I know that this will continue to bear rich dividends for others long after I am no longer here.”
Pickup is survived by his wife, Donna; his children, Devon (Kevin) and Todd (Natalie); their mother, Carole; and his grandchildren, Makena Martin, Maddie Martin, Ryan Martin, Max Pickup and Neil Pickup.
A memorial fund was set up in Pickup’s name to support the Richard H. Pickup Center for Brain Health. To make an online donation, go to hoaghospitalfoundation.org/richard-pickup-tribute.html or mail it to the Hoag Hospital Foundation at 330 Placentia Ave., Newport Beach, CA 92663.
