sheikh

UPDATE: Buyer of $308 Million Monaco Penthouse Was Dubai Royal

It seems we were not in full possession of the facts when we relayed a report the other day that the world's most expensive penthouse, the $308 million former Safra property in Monaco (above), may have been sold to Greek billionaire Constantine Alexander-Goulandris. While Alexander-Goulandris was indeed involved in the sale, an insider now tells us it was actually in an advisory capacity and that the real purchaser was a member of Dubai's royal family, the Al-Mahktoums, headed by the immensely wealthy Sheikh Mohammed bin Rashid Al-Maktoum. Though incredibly expensive the purchase is seen as a wise investment by the Al-Mahktoums, we're told. In the wake of Dubai's financial difficulties, which caused Sheikh Mohammed's personal fortune to plummet by $7.5 billion last year, the family has been advised to acquire more (and more stable) assets outside of the UAE rather than sinking it all into Dubai's volatile economy. Alexander-Goulandris, being a resident of Monaco and an intimate of the Al-Mahktoum family, strongly urged the purchase of the Safra penthouse for the sake of diversification. It's not a bad place to hang out in either.

Gallery: $308 Million in Monaco

Tags: billionaire, Constantine Alexander-Goulandris, Dubai, Lily Safra, Monaco, monaco+penthouse, monacopenthouse, penthouse, royalty, sheikh, Sheikh Mohammed bin Rashid Al-Maktoum, UAE, worlds most expensive

Dubai Ruler Refits Yacht to Beat Abramovich's Eclipse

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing, Wealth

Just as we predicted in our latest story (dated Aug. 23) on Roman Abramovich's gigayacht Eclipse (above), it won't be the world's largest privately owned yacht for very much longer. Dubai ruler Sheikh Mohammed Bin Rashid Al-Maktoum is reportedly having his own floating palace, the Dubai, refitted to literally eclipse the Eclipse. As we noted in our previous story, at 531.5 ft. the Dubai is already only 18 inches shorter than the actual length of the Eclipse, which yachting experts Camper & Nicholsons finally pegged at 533 ft. Now the London Sunday Times reports that Sheikh Mohammed is planning to have the Dubai extended by at least two feet, and possibly as much as eight feet, easily beating the Eclipse to recapture the World's Largest title. The UAE's Platinum Yachts, which built the Dubai, is considering updates that could include a black box radar to be mounted jutting forward from under the prow. [continued]

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Tags: Dubai, Eclipse, gigayacht, megayacht, Platinum Yachts, Roman Abramovich, russian billionaire, sheikh, Sheikh Mohammed Bin Rashid Al-Maktoum, superyacht, UAE, worlds largest, yacht

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Shiekh Wheels: Rolls-Royce Debuts Bespoke Editions for Abu Dhabi

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Wealth

A regular old Rolls-Royce? Strictly for peasants, my friend. No filthy rich oil sheikh would be caught dead in one. Hence the new bespoke Phantom editions built specially for Abu Dhabi, which as we all know has the actual cash, as opposed to Dubai which thrives on flash and debt thanks to Abu Dhabi's indulgence. Inspired by the emirate's "rich culture and landscape" emphasis on rich – the new models are of course extremely vulgar and insanely expensive. The special edition Phantom Drophead Coupe (above) is called Shaheen, after the local word for the prestigious peregrine falcon used for hunting. It features a marquise-white exterior with Tudor red lines and a red and seashell leather interior, brass falcon inlays and falcon embroidered head-rests. The Phantom sedan meanwhile is named Baynunah after Abu Dhabi's sand dune covered western region. Fittingly finished in shades of brown and tan, it features hand-crafted inlay and marquetry, some of it applied with tweezers to ensure maximum precision, and a solid gold Spirit of Ecstasy on the hood. Better bring a solid gold bucket.

Gallery: Rolls-Royce Abu Dhabi Editions

Tags: Abu Dhabi, bespoke, custom cars, Dubai, hunting, oil, Rolls Royce, Rolls-Royce, Rolls-Royce Phantom, sheikh, UAE, wealth

Carla Bruni Sells Family Castle to Sheikh for $12 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates

Carla Bruni-Sarkozy, the sexy supermodel, singer and first lady of France, has sold her family's castle in Italy (above) to an Arab sheikh for about $12 million, the London Daily Mail reports. The 40-room 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 castle-style mansion in 1952 for about $1.5 million. The contents of the house, include furniture and antiques, were auctioned off in London for another $13 million. The Italian-born Bruni married French President Nicolas Sarkozy last year and has renounced her ties to Italy. "We had finished with Castagneto Po – nobody went there any more," her mother Marisa Bruni Tedeschi, the castle's co-owner, tells the AFP.

Tags: Arab, Carla Bruni, CarlaBruni, Castle, France, Italy, nicolas sarkozy, NicolasSarkozy, Sheikh, Turin

Private Airbus A380 To Get A Gold Paint Job

by Deidre Woollard (RSS feed) —

Filed under: Wings, Celebrity Shopping

Prince Al-Waleed bin Talal bin Abdul Aziz al-Saud the soon-to-be owner of the first private Airbus A380 is sparing no expense to make his doubledecker toy the most fabulously extravagant jet on the planet. He spent over $300 million on the plane and is currently spending more than half that much money on customizing the jet. As we've mentioned before on this site, the jet will have a whirlpool bath and sauna, a dining room paneled in marble, a gym and a desert-themed fiber-optic mural. The most incredible touch might just be the approximately $58 million he is spending to have the plane painted in gold leaf on the outside. It not only sounds luxurious it also sounds a little dangerous if the sun bounces off it. The plane will be ready in two years, until then, the prince will have to content himself with his current ride, his own 747 jumbo jet.

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Tags: a380, airbus, expire-images:2009-2-12, jumbo jet, prince al-waleed, PrinceAl-waleed, sheikh