billionaires

The World's Biggest Billion-Heiresses To Be

Filed under: Wealth

Forbes has come up with a new list of the 10 young women most likely to inherit their mega-rich fathers' fortunes - in short, the billion-heiresses of tomorrow. The final list does not merely represent the daughters of the world's richest men, however; for a true accounting, the magazine started with the daughters of the world's 150 richest people, all worth $6.4 billion or more, but then focused only on those with few or no siblings to divide the loot.

They further narrowed the field by disqualifying those with fathers like Bill Gates who have declared their intention to leave their fortunes to charity instead of their children. Also, they did not include those who have already inherited their money, like the world's richest woman, L'Oréal heiress Liliane Bettencourt.

No. 1 on the Forbes list is India's Vanisha Mittal Bhatia, daughter of Lakshmi Mittal, the fourth-richest person in the world with a fortune of $45 billion. The No. 2 and 3 heiresses are also the daughters of Indian tycoons, while No. 4 is Delphine Arnault-Gancia, daughter of LVMH chairman Bernard Arnault, the world's 13th-richest man with a fortune of $25.5 billion. And clocking in at No. 7 is championship equestrienne Georgina Bloomberg (above), daughter of New York's billionaire mayor Michael Bloomberg. See the gallery for more.

Gallery: World's Biggest Heiresses

Tags: Bill Gates, BillGates, Billionaires, delphine arnault-gancia, DelphineArnault-gancia, Forbes, Georgina Bloomberg, GeorginaBloomberg, Heiress, Lakshmi Mittal, LakshmiMittal, LVMH, Michael Bloomberg, MichaelBloomberg

London Luxury Real Estate Down for 1st Time in 5 Yrs.

by Jared Paul Stern (RSS feed) —

Luxury residential real estate prices in central London, the world's most expensive city, have had their first annual decline since 2003 due to worsening economic conditions. The average price of houses and apartments in London's nine most expensive neighborhoods fell 1.6 percent in August from a year earlier, according to an index of properties valued at $2 million or more, Bloomberg reports.

While it's no secret that London prices have been dropping - my colleague Deidre Woollard reported on the trend in July - this is the first time the full scope of the decline has been assessed. Total prime residential sales in London are down an astounding 46 percent from last year; the downturn is being blamed on "pessimism in the financial services sector."

Some mega-rich moguls, such as Ukrainian billionaire Viktor Pinchuk, who paid over $150 million for a five-story London townhouse earlier this year, are doing their share to prop up the market.

Tags: Billionaires, London, Luxury real estate, LuxuryRealEstate, Viktor Pinchuk, ViktorPinchuk

Greek Billionaire Commissions Yacht by Jeff Koons

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing

This has got to be one of the stranger luxury craft plying the waters: Guilty, the 115-ft. yacht Greek billionaire Dakis Joannou commissioned from art world superstar Jeff Koons. Joannou, an industrialist who owns one of the world's finest collections of contemporary art, had Koons' design executed by Italian yacht builder Ivana Porfiri.

Though Koons' colorful scheme calls to mind the Pop Art paintings of the late Roy Liechtenstein, Joannou says the design is actually based on a WWI camouflage pattern. After the yacht's completion, Joannou came across a text painting entitled Guilty by British artist Sarah Morris, which he immediately purchased to decorate the yacht. The eye-popping craft which was recently spotted on its maiden voyage in Monaco.

[via Monaco Eye]

Gallery: Guilty by Jeff Koons

Tags: Billionaires, Contemporary art, ContemporaryArt, Dakis Joannou, DakisJoannou, Ivana Porfiri, IvanaPorfiri, Jeff Koons, JeffKoons, Monaco, Roy Liechtenstein, RoyLiechtenstein, Sarah Morris, SarahMorris

L'Or�al Heiress is the World's Richest Woman

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Liliane Bettencourt (right), daughter of the man who founded cosmetics giant L'Oréal, tops Forbes' just-released list of the richest women in Europe with a fortune of $22.9 billion. That astounding figure also makes her the world's richest woman, the magazine notes. Bettencourt, whose father's reputation has occasionally come under fire, uses her money to fund a charitable foundation which supports medical research, cultural projects and humanitarian relief.

At the No. 2 spot on the Euro list is Swedish citizen Birgit Rausing, a packaging heiress with an estimated fortune of $14 billion, while No. 3 is BMW and pharmaceuticals heiress Susanne Klatten, with $13.2 billion. Harry Potter author J.K. Rowling meanwhile is in last place at No. 22, barely making the list with a measly $1 billion. It's worth noting that Germany has the most female billionaires of any European nation, with nine of them living within its borders. You can see a gallery of the loaded ladies here.

Tags: Billionaires, BMW, Forbes, Germany, Harry Potter, HarryPotter, Heiress, j.k. rowling, J.k.Rowling, Liliane Bettencourt, LilianeBettencourt, LOreal, Worlds Richest woman, WorldsRichestWoman

Tiger Woods Will Be World's First Billionaire Athlete

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Golf legend Tiger Woods is on track to become the world's first billionaire athlete, a goal he should reach in a few short years at his current rate of income. Woods' career earnings will hit the $1 billion mark by 2010, Forbes reports, but given the taxes and management fees he has to pay, it will take another year for his net worth to catch up.

In 2007 alone, the mag estimates Woods earned $115 million, $65 million more than the second highest paid athlete, David Beckham. While several billionaires over the years have been world-class athletes, none has ever earned their fortune solely from a career playing sports before Woods. Of course, most of his wealth comes from endorsement deals as prize money accounts for only one-tenth of his earnings.

Tags: Billionaires, David Beckham, DavidBeckham, Forbes, Golf, Tiger Woods, TigerWoods

CNBC's Untold Wealth

by Deidre Woollard (RSS feed) —

As we've mentioned on this blog many times, the number of ultra wealthy people is growing at an unheard-of rate. Even as we struggle with rising gas and food costs more and more billionaires are being created all the time. In 1985, there were only 13 billionaires in the U.S.; today there are more than 1,000 as well as a whole host of people with hundreds of millions in their coffers. A new CNBC special "Untold Wealth: The Rise of the Super Rich" explores a world where multiple homes, personal staffs, fleets of cars and multi million dollar art collections are the norm. Think of it as the television version of "Richistan."

The one-hour special on CNBC had its premiere on Thursday and will air tonight at 10pm ET as well as several more times in July. At times it's tough to watch the stories of the ultra wealthy but what is really interesting is the segment on "middleclass millionaires" in which Laurel Touby, who sold Media Bistro for 23 million in 2007 says that her remaining $10 million won't even buy her the apartment she wants in New York City. She goes on to discuss her conversations with the "really rich" (over $100 million or more) about shares in private jets and other services far over her price level. For every person you see and think they are rich and have it all, there is probably someone they look at as being rich and think they really have it all.

Source

Tags: billionaires, cnbc, money, untold wealth

Russian Tycoon to Launch Magazine for Snobs

by Jared Paul Stern (RSS feed) —

Russian precious metals mogul Mikhail Prokhorov, ranked as the 24th richest man in the world with a $22 billion fortune, is set to launch a magazine called Snob for his fellow plutocrats. Prokhorov plans to invest $150 million in the venture, which will eventually include a website and TV station as well, Reuters reports. Andrei Shmarov, who's helming the project, says the magazine will be for "people who are successful and those who want to be successful."

Shmarov is at pains to point out that in Russia, "snob" isn't a pejorative term. "Snob to us means a person who is a 'self-made man', a person who has gained a right to snobbishness," he explains. "It's not pleasant to boast about your wealth when you have inherited it but when you have made it yourself, well it is still not very nice, but it is justified." At least in a country where a measly billion dollars won't even land you a spot on the rich list. Check out their competition below.

Gallery: Magazines for Snobs

Source

Tags: billionaires, magazines, russia, Snobs

How the Rich Spend Their Money

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping

Having a million dollars isn't what it used to be. In fact, having a million dollars in the bank in today's world only equates to being a "middle-class millionaire." To be truly rich you'll have to clear somewhere around $10 million in the bank, and to be considered "crazy wealthy" those stacks of dough will need to add up to more than $30 million. That is a lot of money.

So what to the rich and the crazy-wealthy of the world do with all that cash? Of course they all have their quirks, but some things are pretty consistent: lavish home improvements (think private massage rooms and relaxing zen gardens), one-of-a-kind jewels and jewelry, obnoxiously fast and expensive vehicles, fashion fashion fashion, lots of traveling to exotic locations, and of course all kinds of conveniences and amenities like concierge services and fine dining.

If you had unlimited funds what would you most look forward to spending it on?

Source

Tags: billionaire, billionaires, celebrities, celebrity, expire-images2009-4-8, middle-class millionaire, Middle-classMillionaire, millionaire, millionaires, money, rich, spending

More Big Donors Giving Anonymously

by Rigel Celeste (RSS feed) —

Filed under: Charity

Being rich isn't always about being famous, in fact many wealthy individuals go to great lengths to keep out of the spotlight -- even when it comes to being recognized for generous gifts to charity. Recently I posted on billionaire Chuck Feeney and his anonymous "giving while living" motto, but he's not the only one out there that wants to give money away without being recognized -- as one donor put it "I don't want to walk into the coffee shop and have strangers come up and talk to me about this gift."

The reasons why this trend is growing vary wildly, sometimes it's a simple matter of safety and privacy and sometimes it's about family politics -- they don't want all their relatives knowing how much they really have. Anonymous giving is generally a good thing, I think. After all, it's about the charities, not the donors who keep them going.

Source

Tags: anonymous, anonymously, billionaire, billionaires, charities, charity, chuck feeney, ChuckFeeney, donor, donors, feeney

Where to Find Millionaire Love Online

by Rigel Celeste (RSS feed) —

Filed under: Services

Attention gold diggers! Just kidding. Whatever your reasons are for looking for a millionaire love match (hey, we all have our dreams) you've probably realized with the rest of society that meeting quality people to date isn't easy, wealthy ones especially. Dating online is becoming more and more common for people of all walks, millionaires included. Sites like MillionaireMatch.com, SugarDaddy.com , and DateAMillionaire.com are some examples of what online dating services are out there, plus if looks aren't a priority there's also the hilarious Marry-An-Ugly-Millionaire-Online-Dating-Agency.com.

And, if you're not looking to be quite that obvious, according to Forbes sites like True.com and PlentyofFish.com are also good places to find dates with deep pockets.

Gallery: Where to Find Millionaire Love Online

Marry An Ugly Millionaire Online Dating Agency

Source

Tags: billionaire, billionaires, dating, happiness, internet, love, millionaire, millionaires, online, online dating, OnlineDating, relationships, Valentine

The World's Most Frugal Billionaires

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping

If you were a billionaire what would you spend your money on? Most people have this vision that all billionaires spend like crazy on lavish amounts of bling gilded in gold, diamond-encrusted gadgets, expensive designer handbags, ridiculously huge homes, and private jets. Some of these things are pretty standard among the rich, but some other things aren't that may surprise you. There are a handful of billionaires in the world that are very choosy with where they indulge -- for example although they may have a few fast cars they may also be cutting their own hair.

One of the biggest and most frugal billionaires of them all: Warren Buffet. He still lives in the same home he bought back in 1958 for $31,500 and he drives a modest (considering) 2006 Cadillac DTS. For more of the most frugal billionaires see Forbes' complete list.

Via Trendhunter

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Tags: billionaire, billionaires, expire-images:2008-12-11, frugal, millionaire, millionaires, modest, spending habits, SpendingHabits

What Do Billionaires Want For Christmas?

by Rigel Celeste (RSS feed) —

Filed under: Gadgets, Yachts & Sailing

What does a billionaire want for Christmas? And what does he or she buy for billionaire friends and family? Obviously anybody with that much money already has pretty much everything that can be bought with said money, so it should be no surprise that on the top of the list is one of the few things that can't: time spent with family. Yacht charters, ski trips, and other family vacations are some of the hottest items this holiday season, but other popular gifts for the uber-wealthy include commissioned biographies and personalized gifts to unique or meaningful charities.

And of course there's always that guy who wants the NM Gem Triton 1000 Submarine for $1,440,000. Go figure.

Source

Tags: billionaire, billionaires, christmas, gift, gifts, holidash, holidays, millionaire, millionaires, NM Gem Triton Submarine, NmGemTritonSubmarine

Scenes From the Moscow Millionaire Fair 2007

by Deidre Woollard (RSS feed) —

Filed under: Events

For those of us not lucky enough to have attended the Moscow Millionaire Fair, Reuters provides some highlights. The spending power of the Russian billionaires continues to grow and these fairs are mean to court the biggest of the big spenders. Some of the highlights included a set of diamond-covered rims that sell for $1 million (they also throw in the $250,000 Bentley Coupe and the services of a security guard), taxidermic models of extinct animals including a saber-tooth tiger and the giant skeleton of a Siberian bear, real estate offers and diamond-covered cellphones. One of the most striking items was a Mercedes covered in swirls of Swarovski crystals but the sellers recommend that the $350,000 car only be used on special occasions, some of the crystals were already falling off. Another offering might be an odd choice for those living in Russia's frigid climate, personalized "cold rooms" from Criohome which go down to minus 85 degrees Celsius and are meant to increase good health and even cure hangovers by spending a few minutes inside freezing each day.

Gallery: Moscow Millionaire Fair 2007

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Tags: billionaires, expire-images:2008-11-26, luxury, moscow millionaire fair, MoscowMillionaireFair, russia

Sixteen billionaires push big numbers in age too!

by Laura Malesich (RSS feed) —

There are cougars and kittens in the world of dating but in the world of billionaires there is young, old and "wow, people live that long?". Sixteen billionaires have hit the ripe old age of 90 as of this month and they are an elite crowd for sure. But they weren't born with silver spoons in their mouths. Most began in traditional roles of agriculture, banking and oil spending their 20's and 30's toiling and moving up the ladder. Only three of the sixteen were handed their fortunes such as David Rockefeller. Compare that to the young billionaire group who are mostly tech driven like Google founders Sergey Brin and Larry Page and you will see the distinct difference. The good thing to note is that for all of us working our hearts out at average paid jobs we have another 60 years to get it right and strike it rich!

Source

Tags: billionaires, David-Rockefeller, Google, John-Simplot, Larry-Page, old-money, oldest-billionaires, Sergey-Brin

Battle of the Russian Billionaires

by Deidre Woollard (RSS feed) —

Filed under: Celebrity Shopping

Juicier than any Hollywood scuffle is what recently went down in the Hermes boutique in London recently. It was the battle of the Russian billionaires as Boris Berezovsky and Roman Abramovich got into a scuffle. The Daily Mail says that Berezovsky, shown above on the right, was shopping in Dolce & Gabbana when he spotted Abramovich, shown above on the left, in the nearby Hermes store and he ordered one of his bodyguards to bring him a $10 billion legal writ for Abramovich. When Berezovsky tried to go the Hermes shop, Abramovich's set of bodyguards tried to keep him out.

Words were exchanged, Berezovsky shoved to documents at Abramovich who let them fall to the floor and then according to witnesses the two groups went off in opposite directions. Why the bad blood? The two were once business partners, but Berezovksy says that Abramovich had pressured him into selling his stakes in the Sibneft oil firm, Russian Aluminium and the television channel ORT at bargain prices. Poor Berezovsky told ABC News that he made less than $1 billion from the sale of these assets which he could have sold for far more. He also says that Abramovich did this on the orders of Vladimir Putin.

Abramovich, for his part is remaining silent on the episode. For a man who values his privacy, Abramovich manages to get his name in the news a lot. But when you are one of the world's richest men and one of the spendiest too folks are bound to talk. How do we suggest these two resolve their differences: a friendly game of chess, hot oil wrestling, pistols at dawn?

Source

Tags: billionaires, boris berezovksy, roman abramovich, RomanAbramovich, russia

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