Owner Ben Silberstein died in 1979 and passed the hotel to his two daughters, Muriel Slatkin and Seema Boesky, wife of stock trader Ivan Boesky. In 1986, Marvin Davis bought the hotel from Silberstein's sons-in-law Burt Slatkin and Ivan Boesky. Boesky had bought the outstanding 5% of stock for a reported fortune and decided to sell, despite Slatkin's desire to keep the hotel. Less than a year later, Davis sold the hotel to the Sultan of Brunei, Hassanal Bolkiah, for $110 million.