Warren Buffett Wants to Pay More Taxes

Warren Buffet wrote in an editorial to the New York Times that was published Sunday that he wants to pay more taxes and thinks his mega-rich friends should too. “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our … Continued

Lunch with Warren Buffett Costs $2.6 Million

The winning bidder for a private lunch with billionaire Warren Buffett has set a new record for the cost of dining with the investor, after pledging $2,626,411 for the meal. The winning bid at the annual charity auction broke the record set last year by a little more than $100. The opening bid started at … Continued

Flashy fashion grows as India’s rich flaunt wealth

In booming India, being rich is not enough. For the moneyed classes, it’s increasingly about flaunting their wealth in ways typical of the nouveaux riches in Russia, China or the Middle East. India’s well-heeled used to be more shy about displaying their wealth in the decades after independence from Britain when a tightly-controlled economy and … Continued

JP Morgan Releases no limit Palladium Credit Card

The world’s richest individuals can now shop and swipe in style with the new release of the JP Morgan Palladium credit card. The card is made of palladium—a rare silvery metal that resembles platinum—and 23 karats of gold. The JP Palladium credit card itself is worth a whopping $1,000. The JP Morgan Palladium credit card … Continued

Branson Unveils Virgin Oceanic Submarine

Richard Branson unveiled plans Tuesday to pilot a “flying” mini-submarine down to the furthest depths of the oceans, in his latest record-breaking adventure. The Virgin Oceanic craft will try to reach the deepest points in each of the world’s five oceans, starting with the deepest of them all, in the western Pacific later this year. … Continued

Trump: I’d Pay $600 Million for White House

Billionaire business magnate Donald Trump is ready to shell out $600 million of his own cash to become President. He told ABC’s “Good Morning America” on Thursday that his name recognition would probably save him “hundreds of millions of dollars” compared with other candidates. The 64-year-old, who held the interview aboard his private jet, said … Continued

The world’s billionaires 2011

Carlos Slim Helu remained the world’s richest person, but Asia is where today’s big money is flowing, Forbes magazine said in its 2011 list of the world’s billionaires. Slim, who is almost unknown to the general public outside Mexico, weighed in at a staggering $74 billion of net wealth thanks to his telecoms empire. Already … Continued

Mubarak: World’s Richest Man?

The New York Post picks up a Guardian report that embattled Egyptian President Hosni Mubarak could be the richest man in the world. Worth about $70 billion, the Post says most of his money is stashed in foreign bank accounts and “shadowy real-estate holdings.” That sum makes Mubarak more wealthy than Mexico’s Carlos Slim and … Continued

2011 Hurun Best of the Best Awards

Luxury-brand awareness is growing among China’s super rich, who recognize 20% more of the lavish brands than they did last year, according to the Hurun Report. The 2011 Best of The Best Survey, which interviewed 401 Chinese mainland millionaires, each with assets of more than 10 million yuan ($1.5 million), said the super rich in … Continued

Gold Vending Machine Debuts At Vegas Casino

The Golden Nugget hotel in downtown Las Vegas is living up to its name with the installation of an ATM that dispenses gold instead of cash. Visitors are now able to buy gold coins and 24-karat “bars” weighing from 1 gram to 1 ounce at the new Gold to Go machine. Prices automatically adjust every … Continued

Black Eyed Peas for Abramovich NYE party

Russian billionaire Roman Abramovich is reportedly flying in the Black Eyed Peas to perform at his New Year’s Eve party in St Bart’s, the Telegraph reports. The Russian billionaire owns a $90 million, 70-acre estate on the Caribbean island and the hip hop band will perform for guests seeing in 2011 there. His estate in … Continued

$6.2M Birthday Party At French Ski Resort

Ukrainian billionaire Victor Pinchuk spent $6.2 million on Saturday night to entertain 300 guests at his 50th-birthday party in the posh French ski resort of Courchevel. He not only flew in Canada’s Cirque du Soleil but also hired superchef Alain Ducasse to prepare the menu at one of Courchevel’s 11 five-star hotels. But the steel … Continued

Macau Casino Magnate Buys Truffles for $330,000

Stanley Ho recently matched his own world record price paid for a truffle when he bought a couple white truffles for a total cost of $330,000 at a truffle auction. The billionaire made his winning bid through representatives at the event held at his own Grand Lisboa hotel in Macau last week end. Ho’s winning … Continued

India’s Ambani shows off ‘world’s priciest home’

Indian billionaire Mukesh Ambani has hosted a lavish housewarming party to show off his just-completed new skyscraper residence. Some 80 of India’s rich and famous attended the party on Friday night at the 27-storey building, which dominates the Mumbai skyline. Indian novelist Shobhaa De called the building – reported to be the world’s priciest private … Continued

Clive Palmer gives away 55 Mercedes

The Australian mining magnate, Clive Palmer handed out over 10 million dollars worth of Christmas bonuses to his lucky staff. 55 Mercedes-Benz cars and 700 overseas holidays were handed out to the Townsville nickel refinery staff. The staff that missed out on a holiday or car didn’t miss out entirely; Palmer spent $2 million on … Continued

Rich Chinese show off their wealth on the water

They already drive flashy cars, wear expensive watches and eat at top-end restaurants. Now rich Chinese businessmen have found a new way to flaunt their wealth – luxury boats. “They want to go out on the ocean and have fun — and take VIP clients to fish and negotiate deals,” said Zheng Weihang, secretary general of … Continued

Millionaires Love Facebook But Have No Time For It

A new poll from SEI Wealth Network, a wealth-advisory firm, suggests that a majority of millionaires have signed up for social media sites. There is just one problem: They don’t have time to actually use them. 70% of respondents with $5 million or more in investible assets are users of Facebook and other social media … Continued

Zong Qinghou of Wahaha tops 2010 China rich list

Hurun Research Institute has released the Hurun Rich List 2010, the twelfth annual ranking of the richest individuals in China. The list names 1,363 individuals with a personal wealth of 1 billion yuan (US$150 million), up from 1,000 last year and just 24 a decade ago. China – the world’s second largest economy – has … Continued

No stop to rise of Asian millionaires

The ranks of Asia-Pacific millionaires are likely to continue growing faster than those from developed countries as regional economies led by China and India power ahead, a report said on Tuesday. The study on high-net-worth individuals (HNWIs) — defined as anyone with investable assets of at least one million US dollars — was issued by … Continued

Forbes 400: The Richest People in America

Forbes released its 2010 list of the 400 richest people in America this week, and Microsoft Chairman Bill Gates was in the top spot for the 17th consecutive year. Industrialist Warren Buffett, Chief Executive Officer of Berkshire Hathaway Inc, has bagged the second place this year with fortunes worth $45 billion. While worth $27 billion … Continued