The business man had just taken the money out of the bank and was going to use it to pay a contractor for renovation work.
A Good Samaritan found the wallet and gave it to lifeguards, who called police. Everything was still inside the wallet.
"It's nice that someone did the right thing like we'd expect and turn in this money, especially in times like this," said Laguna Beach Police Lt. Jason Kravetz.
Police tracked down the wallet's owner, who had just moved to Orange County from Florida. He said he was extremely shocked that the money was still there and thanked the Good Samaritan for turning it in.