Russian billionaire to give $2 billion to charity

Businessweek reports that Russian billionaire Vladimir Potanin plans to leave almost all of his $2.1 billion fortune to charity within the next decade. The billionaire says he won’t deprive his three children of material support and will appropriate money for their plans, as well as for unforeseen circumstances. An article in The Financial Times says … Continued

Diddy Buys Son $360000 Maybach for 16th Birthday

Justin Dior Combs, the son of Sean P. Diddy Combs celebrated his 16th birthday over the weekend and got a brand new Maybach. The party, which was filmed for the MTV reality show “My Super Sweet Sixteen,” featured performances by rappers Fabolous, Lil’ Kim, and Jim Jones. The car is valued at $360,000. It comes … Continued

What crisis? China’s billionaires live it up

While the rest of the world struggles to bounce back from the global financial crisis, China’s billionaires are living large, snapping up luxury products at a breathtaking pace. Beijing’s Jinbao Street is the must-visit address for billionaires with yuan to burn. Once a maze of alleys, the 800-metre (yard) stretch of road is now home … Continued

The (second) best job in the world

Last year you surely heard about the Best Job In The World, where people could apply to live for 6 months on an island off of Australia. Unfortunately you were not chosen for this job and someone else is living out the job of your dreams… Lucky for you, the online price comparison site, … Continued

Harrods Sells Gold Bars

Harrods department store announced on Thursday it had joined with Swiss refiner Produits Artistiques Metaux Precieux to offer gold bars weighing 12.5kg. Harrods, established in 1834, is the first London shop to offer gold in-store. The bars are being kept in a miniature vault on the lower ground floor. The price of gold has soared … Continued

India’s richest man takes pay cut

India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008. With a net worth … Continued

Their wealth exceeds GDP of 140 nations!

Castles in France. Islands in the Caribbean. With a collective $1.27 trillion at their disposal, the members of The Forbes 400 could buy almost anything. How about a country? A quick glance at the CIA Fact Book suggests the individual fortunes of many billionaires are as big as some of the world’s economies. Bill Gates, … Continued

Neiman Marcus 2009 Christmas Book released

The 2009 Christmas Book was released Tuesday by luxury retailer Neiman Marcus in Dallas. The 83rd edition continues Neiman Marcus’ longstanding tradition of offering its customers the ultimate in awe-inspiring gifts. But this year, perhaps a sign of the tough economic times, the million-dollar gifts are gone and 40 percent of the items are priced … Continued

The million dollar hole in one

Restaurant manager Jason Hargett of the Ruby River Steakhouse in Provo, Utah had a life changing day on the golf course on Tuesday. He was in attendance at the Mark Eaton Classic charity golf event benefiting the Utah Diabetes Center at Red Ledges in Heber City. He made a last minute decision to participate and … Continued

China has 130 billionaires

Today, Hurun Report released the names of the Top Two Richest Individuals from the 2009 Hurun Rich List, a ranking of the 1000 richest individuals in China. Wang Chuanfu of BYD is the richest man in China with wealth of US$5.1 billion, followed by Zhang Yin of Nine Dragons Paper with wealth of US$4.9 billion. … Continued

Billionaire dad criticised for super-yacht gift

One of Australia’s richest men, Clive Palmer, has drawn criticism for buying his teenage daughter a yacht worth AU$5.3m. Child experts say that giving multi-million dollar gifts to teenagers is dangerous because it gives them unrealistic expectations about money. Psychologist Renee Mill says that whilst it is commonplace for many wealthy parents to give expensive … Continued

Number of millionaires falls

The world’s wealthy are getting poorer and poorer at an alarming rate. The number of millionaire households in the world dropped from 11 million in 2007 to 9 million last year, a fall of almost 18%, according to The Boston Consulting Group. In North America the number was even higher, a 22 percent drop. Global … Continued

A new club for the super-rich in India

Morgan Stanley is set to launch wealth management services for the super-rich in India, Reuters reports. It’s going to be India’s most exclusive super-rich club, with membership restricted to those with a minimum investible surplus of $1 billion. Why India? India is the world’s second fastest growing economy and according it has the second largest … Continued

Bernie Madoff’s luxury life on auction

Three boats previously owned by jailed financier Bernard Madoff, that was sentenced in June to 150 years in prison, will be auctioned off in Fort Lauderdale on November 17. Among the boats to be sold are a 55-foot, 1969 Rybovich luxury fishing boat called Bull that’s said to be worth about $2.2 million and Little … Continued

£500,000 to leave husband

Yann Samuelides, 35, millionaire banker and managing director of Goldman Sachs, offered an escort girl £500,000 to leave her pensioner husband, the court was told. He became so infatuated with the Slovakian escort girl, 28-year-old Alzbeta Holmokova, that he wanted to make her his wife.

How super rich live in China

A new report has revealed that Beijing has the maximum number of rich people in China. The latest Hurun Report on China’s wealthiest people said that there are 143,000 (yuan-)multimillionaires and 8,800 billionaires in Beijing. In Shanghai, there are 116,000 multimillionaires and 7,000 billionaires, reports the China Daily.

Millionaire Fair Moscow – Summer 2009

Held in Moscow for the first time, the Summer Fair is a smaller version of the giant luxury market, the Millionaire Fair. “It’s definitely smaller, but the level of the participants is higher,” said Yelena Kudozova, the managing director of the Millionaire Fair. She listed carmakers McClaren and jewelry brand Piaget as examples. Highlighting the … Continued

Dine With Warren Buffett for $1.68 Million

A bidder agreed to pay $1.68 million for a steak lunch with billionaire investor Warren Buffett in a charity auction completed on Friday night on eBay. The winning bid in the 10th annual fund-raiser fell short of last year’s record $2.11 million, paid by Hong Kong-based investor Zhao Danyang. As in recent years, the winner … Continued

Amount Of Millionaires Fell In 2008

The ranks of the world’s millionaires shrank at the fastest rate in 2008, with North America suffering the biggest wealth loss worldwide, according to a survey by Capgemini and Merrill Lynch & Co. The global slump in property and equity markets last year cut the number of millionaires by 15 percent to 8.6 million, wiping … Continued

Thai king world’s wealthiest royal

No. 1 on Forbes’ list, for the second year in a row, is Thailand’s King Bhumibol Adulyadej. He is worth $30 billion, $5 billion less than last year, as a result of double-digit declines in real estate and stocks owned via the Crown Property Bureau, the state investment vehicle of which he is a trustee. … Continued