Luxist

Larry Ellison Becomes A Tennis Titan

Deidre Woollard — Wed, 23 Dec 2009 19:02:00 EST

We knew tech billionaire Larry Ellison was into yacht racing but he is also a tennis enthusiast. This week he announced that he bought the ATP-WTA Indian Wells Masters event and the stadium where it is played. The tennis event will be held this year from March 8-21 in the Californian desert. Ellison bought the tournament and its grounds at Rancho Mirage from owners and founders Charlie Pasarell and Raymond Moore, former players and principals of PM Sports Management. He may have spent as much as $100 million on the facility. In a press release Ellison said he loves tennis and looks forward to being in Indian Wells each March to host the tournament.

According to an article in The Desert Sun, Indian Wells city officials are happy that Ellison is on board and hopeful that he will turn the Indian Wells Tennis Garden into a premier entertainment venue. There is also hope that the project will be beneficial to the entire Coachella Valley and that the stadium will become more than a one-event venue. The Indian Wells Tennis Garden opened in 2000 and has also hosted concerts including Eagles, Tom Petty and Andrea Bocelli and an annual Phoenix Suns NBA preseason game. Last year's BNP Paribas Tennis Tournament at Indian Wells was won by Rafael Nadal.

Gallery: The lavish world of Larry Ellison

Gallery: Scenes From The BNP Paribas Open 2009 at Indian Wells

Larry Ellison Becomes A Tennis Titan originally appeared on Luxist on Wed, 23 Dec 2009 19:02:00 EST. Please see our terms for use of feeds.

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Two Out of Three Women Feel Bad About Luxury Purchases

Annie Scott — Wed, 23 Dec 2009 11:02:00 EST

Filed under: Wealth

Market research firm Synovate surveyed 8,100 people in Brazil, Canada, France, Hong Kong, India, Netherlands, Spain, Taiwan, the United Arab Emirates, Britain and the United States about luxury and what it means. Over a third of the respondents defined it as "everything above what is necessary." That's recession mentality if we've ever heard it.

Being frugal is a virtue to some. Perhaps that's why over half of the 72 percent of Britons (66 percent of women!) who say they treat themselves to luxury report feeling bad about it. "It's a classic case of British guilt. It's seen as much more acceptable to buy something 'needed' for the home than it is to indulge yourself in any way," says Jill Telford, Synovate's CEO for the UK. The survey showed a similar majority in the US.

If you don't feel guilty about luxury purchases, you're thinking more along the lines of the Indians, Dutch and Brazilians, of whom the majority feel just fine with spoiling themselves a bit, thank you very much (or perhaps you're a man; men showed far less guilt than women worldwide).

Check out more of Synovate's luxury research here.

[via Reuters]

Two Out of Three Women Feel Bad About Luxury Purchases originally appeared on Luxist on Wed, 23 Dec 2009 11:02:00 EST. Please see our terms for use of feeds.

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The Battle Over The Ownership of Sinbad's House

Deidre Woollard — Tue, 22 Dec 2009 22:01:00 EST

Filed under: Celebrity Shopping, Wealth

Does Sinbad own his home? The comedian born David Adkins recently filed for bankruptcy after the IRS filed $8.15 million in tax liens. Our sister blog WalletPop reported that the tax obligations range from $157,934 in 2003 to $2,358,563 in 1998. Sinbad has been fighting with the IRS for years but now they are getting serious about getting their money. His Chapter 7 bankruptcy claim lists $10 million and $50 million in liabilities but less than $50,000 in assets. And about that house? His luxury $1.5 million home in the celebrity-friendly enclave of Hidden Hills is reportedly owned by his brother, Michael Adkins. But court documents seeking seizure of the house allege that the arrangement is a sham pointing out that Michael Adkins works for his brother's production company and that the expenses for the property including mortgage payments were paid from the production company account.

Other celebrities in the area include the Kardashians, Melissa Etheridge, Lisa Marie Presley, and Denise Richards. A bird's eye view on Virtual Globetrotting shows a lavish estate with a pool and tennis court.

The Battle Over The Ownership of Sinbad's House originally appeared on Luxist on Tue, 22 Dec 2009 22:01:00 EST. Please see our terms for use of feeds.

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Russia's Richest Man Wants Deposit Back on Villa Leopolda

Jared Paul Stern — Mon, 21 Dec 2009 19:01:00 EST

Filed under: Estates, Wealth

Russia's richest man Mikhail Prokhorov is going to court to try and get back the $55 million deposit he forfeited after backing out of a deal to buy the magnificent Villa Leopolda on the French Riviera for $750 million including the furnishings last year. The metals magnate signed a sales agreement for the Villa, and French law stipulates that purchasers lose their deposits if they pull out after such an agreement has been signed. The Villa's owner Lily Safra has said she is donating the deposit to charity. However, Prokhorov's lawyers are now arguing that that the agreement was rendered null and void due to two technical "anomalies", the London Telegraph reports.

Firstly, they say he should have been given the usual seven-day period in which to change his mind, which was denied as Prokhorov signed the agreement under a company name. Secondly, they argue that Safra's notary had "illicitly lumped the furniture price tag with the house price in a declaration to the French state", which they say was grounds for canceling the contract. Safra's lawyer Jean-Michel Darrois disputes Prokhorov's claims and said in a statement to the newspaper, "We have written proof that Mr Prokhorov, via his lawyers, continued to confirm his intention to buy the property well after the sale agreement." A verdict is due in March.

Russia's Richest Man Wants Deposit Back on Villa Leopolda originally appeared on Luxist on Mon, 21 Dec 2009 19:01:00 EST. Please see our terms for use of feeds.

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Dubai Says Tiger Woods Development Will Proceed as Planned

Jared Paul Stern — Thu, 17 Dec 2009 14:02:00 EST

Filed under: Sports, Real Estate Developments, Wealth, Crimes and Misdemeanors

Some of Tiger Woods' sponsors and business associates are distancing themselves from the sports star in the wake of his mushrooming mistress scandal; however the Dubai backers of the first ever Woods-designed golf course and housing development say they'll proceed as planned with the megabucks project. The move is surprising given the iffy emirate's recent financial troubles as well as the UAE's extremely strict laws and outlook on sexual misconduct, real or perceived. The company building The Tiger Woods Dubai housing development and golf course said in a statement Wednesday it remains committed to completing the course, a 60,000-square-foot clubhouse, an 80-suite boutique hotel for VIP guests, 300 luxury villas, 20 mansions and a community retail area, all bearing the increasingly dubious Tiger Woods brand. The developer, part of the Dubai Holding conglomerate owned by the city-state's ruler, says "progress continues" on the project but gave no specifics, the AP reports. As we reported the other day, Woods' travails are likely to end up preventing him from becoming the world's first billionaire athlete, a goal he had nearly attained.

Dubai Says Tiger Woods Development Will Proceed as Planned originally appeared on Luxist on Thu, 17 Dec 2009 14:02:00 EST. Please see our terms for use of feeds.

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Lev Leviev Seeks To Restructure, Hopes For The Best

Deidre Woollard — Wed, 16 Dec 2009 23:01:00 EST

Filed under: Wealth

Things haven't been so sparkly lately for diamantaire Lev Leviev. The Israeli billionaire has seen his fortune plummet in recent months. Back in August he told reporters that he would restructure about $2 billion of debt.

Leviev's downfall wasn't diamonds, it was real estate. He invested heavily in the New York City real estate boom. Now Leviev, who made his fortune in the diamond cutting and polishing industry is trying to reach an agreement with the creditors chasing his Africa-Israel company in a bid to stave off having to file for bankruptcy. Bloomberg News reports that a recent proposal presented to the court on Dec. 2 would cut Leviev's personal stake in the company from to 53 percent from 75 percent and he will spend $200 million of his own money shoring up the company.

But let's not feel too sorry for Leviev. He still has plenty of money, lives in a lavish mansion in London and has weathered tough times before. His best hope for a fast financial recovery may come from Russia where he has also heavily invested. In the Bloomberg article, Yuval Ben-Zeev, an analyst at Clal Finance Brokerage Ltd., says that Leviev's recovery depends on Russia and specifically the Mall of Moscow.

Leviev's own high-handed behavior may affect the court's decision on his status as controlling shareholder of Africa Israel. According to an article in Haaretz, Judge Varda Alshech didn't take too kindly to the fact that Leviev had repaid some private debt to banks skirting around the bondholders. Alsech said that any money that hadn't been transferred already should not be and chided the company for pleading insolvency and saying it could not pay bondholders while going on to repay other creditors.

Lev Leviev Seeks To Restructure, Hopes For The Best originally appeared on Luxist on Wed, 16 Dec 2009 23:01:00 EST. Please see our terms for use of feeds.

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Tiger Woods' Troubles Will Cost Him Billionaire Status

Jared Paul Stern — Fri, 11 Dec 2009 18:01:00 EST

Filed under: Sports, Wealth, Crimes and Misdemeanors

Back in 2008 we reported that Tiger Woods was set to become the world's first billionaire athlete, with earnings on target to cross the billion-dollar mark, which they did in October. In order for his net worth to follow suit however, he would need to continue the momentum for at least another year, given the taxes and management fees he has to pay, to be considered a bona fide billionaire. Now in the wake of his fateful car crash and ongoing mistress revelations, along with the looming prospect of one of the most expensive sports divorce settlements ever and now news of his lucrative advertising revenue stream drying up, it seems Woods may never reach that goal. The golfer's $110 million in annual income from endorsements and tournaments, as estimated by Forbes magazine, hinges on his standing with consumers, which is currently at an all-time low. Sorry, Tiger, looks like you'll have to be content as a mere multimillionaire several times over - at least until that divorce goes through. For God's sake please don't end up like Lenny Dykstra.

Tiger Woods' Troubles Will Cost Him Billionaire Status originally appeared on Luxist on Fri, 11 Dec 2009 18:01:00 EST. Please see our terms for use of feeds.

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Bespoke Hermès Luggage & Wardrobe Gift Package

Jared Paul Stern — Thu, 10 Dec 2009 11:02:00 EST

Filed under: Apparel, Journeys, Men's Style, Wealth

For our final installment on the eye-popping holiday offerings from that glossy chronicle of the filthy rich Robb Report - following the matching custom private jet and megayacht set costing $500 million and more - we have a bespoke basket of goodies from famed French luxury goods house Hermès. Starting at $215,000 depending on what exactly the recipient chooses to indulge in, the gift includes: a custom eight-piece luggage set handcrafted by a single Hermès craftsman in Paris from their incredible range of luxurious, exotic leathers (above) including crocodile, alligator, ostrich and lizard, dyed in any of 300 shades; consultation with a specialist from Hermès to create a bespoke suit, topcoat, shoes, and leather and knit accessories, all of which will be made to the recipient's specifications; and a private tour of the Hermès leather atelier in Paris for the recipient and a guest. Some luggage items, like the portable alligator skin bar trunk the firm once made for Sammy Davis Jr., may take up to a year to complete.

Bespoke Hermès Luggage & Wardrobe Gift Package originally appeared on Luxist on Thu, 10 Dec 2009 11:02:00 EST. Please see our terms for use of feeds.

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Lenny Dykstra's Patek Philippe and More at Auction

Jared Paul Stern — Thu, 10 Dec 2009 10:01:00 EST

Filed under: Timepieces, Auctions, Celebrity Shopping, Sports, Wealth

My colleague Deirdre Woollard has been entertainingly chronicling former baseball star Lenny Dykstra's travails in bankruptcy court. Now it seems the hard-charging athlete-turned-entrepreneur is trying to raise a little ready money by selling off some of his prized possessions. Among the lots at Patrizzi & Co.'s Dec. 14th Exceptional Watchmaking Masterpieces auction in NYC is Dykstra's 18K white gold Patek Philippe (above) made in 2004. The fine and rare annual calendar timepiece shows the phases of the moon and has a power reserve indication. Estimated at $28,000 - $ 35,000, it comes accompanied by a photograph of Dykstra playing with the New York Mets. Also included in the sale are two major pieces of Dykstra sporting memorabilia: a 1986 New York Mets World Series trophy and plaque, estimated at $18,000 - $25,000; and a Silver Slugger Award from 1993 with a Louisville Slugger bat and National League Player of the Week 1990 plaque, estimated at $12,000 - $16,000.

UPDATE: Dykstra's Patek sold for $28,000, on the low end of the estimate.

Lenny Dykstra's Patek Philippe and More at Auction originally appeared on Luxist on Thu, 10 Dec 2009 10:01:00 EST. Please see our terms for use of feeds.

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$1.5 Monaco Grand Prix Gift Package With Custom Supercar

Jared Paul Stern — Wed, 02 Dec 2009 08:01:00 EST

Filed under: Water, Wheels, Wings, Events, Sports, Holiday Guides, Wealth

Last month we reported that the glossy chronicle of the filthy rich Robb Report is offering the world's most expensive Christmas gift this year - a matching custom private jet and megayacht set costing $500 million. The profligate publication has a few more eye-popping offerings as part of its Ultimate Gift Guide, a seasonal smorgasbord of over-the-top exclusives. Among the most enticing is a $1.5 million Monaco Grand Prix gift package, consisting of the following: a VIP experience at the 2010 Monaco Grand Prix F1 races in May; round-trip private jet travel from North America to Nice, France, and helicopter transfer from Nice to Monte Carlo for a party of four; five nights' accommodation in the top-floor suite at the luxe Monte Carlo Bay Hotel & Resort; privileges aboard a private 170-ft. yacht that will provide a prime vantage of, and tender service to, four days of racing and activities; and last but not least a custom Spyker C8 Aileron Spyder (above) "as a keepsake".

$1.5 Monaco Grand Prix Gift Package With Custom Supercar originally appeared on Luxist on Wed, 02 Dec 2009 08:01:00 EST. Please see our terms for use of feeds.

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Safra Says Villa Leopolda Not for Sale at Any Price

Jared Paul Stern — Tue, 01 Dec 2009 08:01:00 EST

Filed under: Estates, Wealth

The other day we wrote about a report in Forbes stating that Villa Leopolda in the Cote d'Azur, once the most expensive estate in the world with a reputed pricetag of $750 million, had been put back on the market for a mere $102 million. Leopolda's owner Lily Safra now says the Forbes report was "pure fantasy". "The residence is not being sold and was never offered for sale," Safra's rep Seth Goldschlager insists. Forbes has now removed Leopolda from its list of the world's most expensive estates. Albemarle House in Charlottesville, Va., listed at $100 million, is now the 4th most expensive estate in the world according to the magazine, behind No. 1, the Spelling Manor at $150 million; No. 2, Fleur De Lys at $125 million; and No. 3, Updown Court at $117 million.

Safra Says Villa Leopolda Not for Sale at Any Price originally appeared on Luxist on Tue, 01 Dec 2009 08:01:00 EST. Please see our terms for use of feeds.

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Berlusconi's Wife Seeks $65 Million A Year in Alimony

Deidre Woollard — Fri, 27 Nov 2009 20:02:00 EST

Filed under: Wealth

Back in May, we speculated that Italian Prime Minister Silvio Berlusconi's wandering eye might cost him millions but the news of just how much money his estranged wife, Veronica Lario, wants is still shocking. The former actress is seeking 43 million euros (around $65 million) each year in alimony.

Lario, who is 20 years his junior, put up with Berlusconi's indiscretion for many years but earlier this year Berlusconi's attendance at an 18-year-old girl's birthday party seems to have been the final straw. The pair have lived separate lives for many years. In fact to find a picture of them in public archives you have to go back several years. In 2007, she was so angry about Berlusconi's overtures to MP Mara Carfagna that she wrote a letter to the newspaper La Repubblica. The couple met in 1980 and married in 1990 and have three children.

Berlusconi has a $6.5 billion fortune and owns Italy's three biggest private TV networks and a host of other businesses. He has five children total and his son and daughter from his first marriage are involved in two of his businesses and his children with Lario, who are all in their early 20s, own stakes in his holding company Fininvest.

Italian newspaper Corriere della Sera, has said that Berlusconi, Italy's second-richest man, made a counteroffer of 200,000 euros a month but might go up to 300,000 euros. That's a far cry from the nearly 3.5 million euros a month Lario is seeking.

Berlusconi's Wife Seeks $65 Million A Year in Alimony originally appeared on Luxist on Fri, 27 Nov 2009 20:02:00 EST. Please see our terms for use of feeds.

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Forbes Ranks Hollywood's Top 10 Overpaid Actors

Lisa Palladino — Sat, 21 Nov 2009 19:02:00 EST

Filed under: Wealth

Forbes loves lists, and this is a great one if you love to resent actors' huge paychecks -- the Top 10 Overpaid Actors, that is, actors who cost more than their box office worth. According to MSN, in order to qualify for the list, each actor had to have appeared in three films in the last five years that opened in at least 500 theaters. No. 1 on the list is Will Ferrell. For every $1 Ferrell earns, his movies only earn $3.29. The No. 2 spot is filled by Ewan McGregor. His ratio is $1 to $3.75. Nos. 3, 4, and 5 are Billy Bob Thornton, Eddie Murphy, and Ice Cube. Coming in at No. 6 is Tom Cruise; No. 7 is the only woman on the list, Drew Barrymore; and Nos. 8, 9, and 10 are Leonardo DiCaprio, Samuel L. Jackson, and Jim Carrey. Forbes explains it all here. View the official list, with photos, here.

Forbes Ranks Hollywood's Top 10 Overpaid Actors originally appeared on Luxist on Sat, 21 Nov 2009 19:02:00 EST. Please see our terms for use of feeds.

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Robb Report Offers the World's Most Expensive Xmas Gift for $500 Million

Jared Paul Stern — Fri, 20 Nov 2009 09:01:00 EST

Filed under: Water, Wings, Wealth

Looking for a really unforgettable Christmas present for that special someone this year? That glossy chronicle of the filthy rich Robb Report has just the thing - a matching custom private jet and megayacht set costing $500 million. The eye-popping present, the world's most expensive, is part of the profligate publication's Ultimate Gift Guide, a seasonal offering of over-the-top exclusives. The recipient will receive an Airbus A380 (above), the world's largest jumbo jet, and a bespoke megayacht, both customized by renowned designer Patrick Knowles. The interiors will complement each other creating what Knowles calls a "custom personal brand" for the lucky owner. There's one catch - considering the backlog on A380 deliveries and the time required to design and build a custom megayacht, the giftee will have to wait at least six years to get their hands on the toys.

Robb Report Offers the World's Most Expensive Xmas Gift for $500 Million originally appeared on Luxist on Fri, 20 Nov 2009 09:01:00 EST. Please see our terms for use of feeds.

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Billionaire Johann Rupert New CEO Of Richemont Group

Ariel Adams — Wed, 18 Nov 2009 22:02:00 EST

Filed under: Jewelry, Timepieces, Wealth

Frequent among the Forbes Magazine list of world's richest people, South African native Johann Rupert has been appointed the new CEO of the Richemont Group, who is owns a bevy of world-class watch and jewelry labels. Among these are Cartier, Panerai, Jaeger-LeCoultre, and A. Lange & Sohne. It is unclear to me why Richemont Group's previous CEO left (sources say he retired), but with Rupert's history in the luxury realm, as well as charismatic personality, he seems like a good fit. Plus, he is wealthy enough to afford his company's own products.

One thing that Rupert made clear, is important for the company's future. Unlike the recent increase of detailed oversight of the brands under the Richemont umbrella, Rupert has indicated that he desires autonomy for the group brands. This is one of the major reasons we saw a rash of CEO resignations from Richemont brands (such as A. Lange & Sohne and Baume & Mercier). Hopefully Rupert is aware of the fact that micromanaging didn't do anyone any good, ever.

Rupert is not exactly a self-made man, but has done well with the incredible wealth that he inherited. His business record is quite impressive. It is well known in the watch industry that times are tough for luxury items. Richemont Group and main competitor Swatch Group have been hit hard, so it will be interesting to see their plans for recovery over the next few years.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Billionaire Johann Rupert New CEO Of Richemont Group originally appeared on Luxist on Wed, 18 Nov 2009 22:02:00 EST. Please see our terms for use of feeds.

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$650 Million Price Cut on Villa Leopolda? (Updated)

Jared Paul Stern — Tue, 17 Nov 2009 19:02:00 EST

Filed under: Estates, Wealth

Villa Leopolda on the Cote D'Azure (above), once the world's most expensive estate with a $750 million pricetag, is apparently back on the market with an astonishing $650 million price cut, a new world record. The 11-bedroom, 14-bathroom mansion has 29,000 square feet of interior space that opens to manicured lawns and a swimming pool. The spiraling outdoor staircases, balconies and terraces have waterfront views and of the surrounding hillsides. Working fireplaces, a sauna, outdoor kitchen and pool house are other features. As we noted back in February, Russia's richest man Mikhail Prokhorov had reportedly agreed to purchase the Villa for $750 million but later backed out of the deal, forfeiting a $55 million deposit. In May we reported that the recession had caused the estate's value to plunge significantly. Owner Lilly Safra did not re-list the property right away, but according to Forbes the Villa is now available for $102 million. The magazine now places it as the 4th most expensive estate in the world, behind No. 1, the Spelling Manor at $150 million; No. 2, Fleur De Lys at $125 million; and No. 3, Updown Court at $117 million.

UPDATE: Leopolda's owner Lily Safra now says the Forbes report was "pure fantasy". "The residence is not being sold and was never offered for sale," Safra's rep Seth Goldschlager insists. Forbes has now removed Leopolda from its list of the world's most expensive estates. Albemarle House in Charlottesville, Va., listed at $100 million, is now the 4th most expensive estate in the world according to the magazine, behind No. 1, the Spelling Manor at $150 million; No. 2, Fleur De Lys at $125 million; and No. 3, Updown Court at $117 million.

$650 Million Price Cut on Villa Leopolda? (Updated) originally appeared on Luxist on Tue, 17 Nov 2009 19:02:00 EST. Please see our terms for use of feeds.

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Queen Elizabeth Plans Frugal Holiday Season

Deidre Woollard — Thu, 12 Nov 2009 16:01:00 EST

Filed under: Wealth

No Christmas gifts for the Queen of England? CBS News says that in an effort to show solidarity with the recession-stricken people of her land, Queen Elizabeth II has let it known that she and her husband Prince Philip do not require gifts this year. The Queen has had some financial struggles of her own this year, forced to cut costs and ask for additional money from the British government for the upkeep of the royal castles. According to Forbes, the monarch has a fortune of $450 million which sounds like a lot but that number is down $200 million from recent years.

The royal family generally spends Christmas at Sandringham Estate, the Queen's country manor in Norfolk, England, a few days before Christmas. The Royals generally don't splash out on fancy gifts anyway but the Queen is taking extra precautions requesting that any potential gifts be donated to local charities and hospitals instead. The Queen has also been reusing more of her wardrobe and has instructed family members to cut back.

Queen Elizabeth Plans Frugal Holiday Season originally appeared on Luxist on Thu, 12 Nov 2009 16:01:00 EST. Please see our terms for use of feeds.

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F1 Champion Kimi Raikkonen Could Be Paid 17 Million Euros Not to Race Next Season

Noah Joseph — Wed, 11 Nov 2009 18:02:00 EST

Filed under: Wheels, Sports, Wealth

There are few sports figures paid as highly as Formula One drivers...world champions especially. With the 2009 season already wrapped up, teams are preparing for their assault on next year's championship, with an unprecedented game of musical chairs taking place in the off-season.

Among the changes, two-time world champion Fernando Alonso is moving, at long last, from Renault to Ferrari. Trouble is, the Italian team already has two world-class drivers on contract. So to make room, Ferrari is willing to pay its 2007 world champion Kimi Raikkonen not to race.

According to reports, Raikkonen will be paid a whopping 17 million euros next year just to vacate his seat. He's free to move to another team, but if he does, Ferrari will only owe him 10 million euros. For his part, Kimi says he'll only consider McLaren, and knowing full well of the conditions of his contract, the British team (for whom he drove previously) is offering him only 5 million - a fair bit less than he'd be worth on the open market. The bottom line is that Raikkonen stands to make more money if he sits out next season than if he races.

F1 Champion Kimi Raikkonen Could Be Paid 17 Million Euros Not to Race Next Season originally appeared on Luxist on Wed, 11 Nov 2009 18:02:00 EST. Please see our terms for use of feeds.

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Carla Bruni's Castle Back on the Market for $28 Million, Estate of the Day

Jared Paul Stern — Mon, 02 Nov 2009 13:01:00 EST

Filed under: Estates, Wealth

Back in February we reported that Carla Bruni-Sarkozy, the sexy supermodel, singer and first lady of France, had sold her family's castle in Italy (above) to an Arab sheikh. Now the buyer, who has since been revealed as billionaire Saudi businessman Prince Alwaleed bin Talal, has relisted the historic castle with an affiliate of Christie's Great Estates with a reported asking price of about $28 million; he was said to have originally paid anywhere from $12 million - $25 million depending on sources. The 40-room, 21,000-sq.-ft. Castello di Castagneto Po, near Turin, has been repeatedly destroyed and rebuilt over the years but is believed to first date from the year 1019. Bruni's father, the billionaire industrialist Alberto Bruni Tedeschi, bought the historic estate in 1952 for about $1.5 million. It is surrounded by 175 acres replete with vegetable gardens, orchards, flowering terraces, ancient greenhouses, a caretaker's house and a farm building.

Gallery: Carla Bruni's Castle

Carla Bruni's Castle Back on the Market for $28 Million, Estate of the Day originally appeared on Luxist on Mon, 02 Nov 2009 13:01:00 EST. Please see our terms for use of feeds.

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Female UK Hedge Funder Revealed as Buyer of Maltese Falcon

Jared Paul Stern — Sun, 01 Nov 2009 08:01:00 EST

Filed under: Water, Wealth

The mystery buyer of the 289-ft. Maltese Falcon, the world's largest, best designed, and most expensive sailing superyacht, has been revealed as Elena Ambrosiadou, Greek-born founder of hedge fund Ikos Partners. The UK's highest-paid woman and its wealthiest female entrepreneur, Ambrosiadou, pictured above after winning the Perini Navi Cup with her new toy (and collecting the Rolex prize), is said to have paid $120 million for the megayacht. Built by Perini Navi for venture capitalist Tom Perkins in 2006, it remains the ne plus ultra of sailing superyachts, a masterpiece of technology and design, and was recently featured on the cover of Luxury Toys: Top of the World. Her revolutionary sailing system - the DynaRig - set a new milestone in yachting history: three self-standing and rotating masts hosting 15 sails for a total sail area of 25,791 square feet for unrivaled, performance maneuverability and record-shattering speed; she can complete Atlantic crossings in ten days.

[via JamesList]

Gallery: The Maltese Falcon

Female UK Hedge Funder Revealed as Buyer of Maltese Falcon originally appeared on Luxist on Sun, 01 Nov 2009 08:01:00 EST. Please see our terms for use of feeds.

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