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

Harvard tops Forbes list of Billionaire Universities

With 62 of its alumni now billionaires, Harvard tops Forbes’ list of ‘Billionaire Universities’, followed by Stanford that boasts of 28 billionaire graduates. The number of Harvard alumni who are billionaires swelled to 62, up from 54 in 2009, “more than any other American university by a long shot,” Forbes said. Harvard’s billionaire alumni are … Continued

New York Has the Most Millionaires

New York had 667,200 millionaires in 2009, a whopping 18.7% increase from the year before, according to a study released by the consulting firm Capgemini. The French consulting firm, calculated the number of individuals with a net worth of over $1 million, excluding real estate, in the 10 largest metropolitan areas in the United States. … Continued

Sultan of Brunei’s Car Collection‎

Hassanal Bolkiah, Sultan of Brunei is the proud collector of what is undeniably the world’s most unique and gargantuan car collection. The Sultan of Brunei’s collection of over 7,000 cars includes some of the fastest, most expensive and rarest motors on the planet. According to the Daily Mirror, he owns 604 Rolls Royces, 574 Mercedes-Benzes, … Continued

Tycoons spend $2.6m on champagne in St Tropez

In what could be called as a lavish fight, a pair of rival billionaires set a new world record at a French nightclub to see who could order the most champagne. Zhen Low – the younger brother of big-spending Malaysian billionaire Jho Low – squared off against Winston Fisher of the prominent New York real-estate … Continued

Hong Kong prepares for life after the tycoons

Hong Kong’s billionaire tycoons enjoy a status close to royalty in Asia’s wealth-obsessed financial hub. The city’s richest man Li Ka-shing has the fame of a movie star, while the court case involving the will of eccentric pig-tailed billionaire Nina Wang last year enthralled Hong Kong with its brew of sex, money and power. But … Continued

Paul Allen to Give Away Half of His Fortune

Microsoft co-founder Paul Allen, who is rated by Forbes magazine as the world’s 37th richest person, plans to give away most of his $13.5 billion fortune. In the statement, Allen said his estate would support causes including not-for-profit scientific research such as the Allen Institute for Brain Science. His declaration came a month after Gates … Continued

World’s richest man aims for a simple life

Mexican tycoon Carlos Slim may be the world’s richest man but he limits his monthly salary to $24,000 and travels in a Suburban, according to his biography. Mr Slim, 70, knocked Bill Gates form the top of the Forbes list of the world’s billionaires this year with an estimated fortune of US$53.5 billion. He began … Continued

The World’s Richest Royals

Thailand’s King Bhumibol remains the world’s richest royal for the third year in a row, despite his country’s riots and turmoil. Royal assets are held under Thailand’s Crown Property Bureau, which benefited from stock market and real estate gains in 2009. As a result, his fortune remains stable at $30 billion, at least for now. … Continued

LVMH Chief Bernard Arnault Is France’s Richest Man

LVMH CEO Bernard Arnault, the man behind some of the world’s top luxury labels, has been officially named France’s richest man. Arnault’s fortune is estimated at 22.7 billion euros, ($28.6 billion) following a 55% increase in his net worth weekly magazine Challenges reported. Arnault took over the top slot from Gerard Mulliez and family, the … Continued

Italy – Thousands of euro coins spill on motorway

Motorists in southern Italy must have thought they had hit the jackpot after spotting piles of euro coins on a motorway. A security lorry carrying some two million euros $2.5m) in one and two-euro coins overturned near Foggia. The accident dislodged the boxes on board which burst open as they hit the ground, paving a … Continued

Asia millionaires worth more than Europeans

Asia-Pacific millionaires are collectively worth more than their European counterparts for the first time, with the rich in China and India leading the way. The report on high-net worth individuals (HNWIs) — defined as anyone with investible assets of at least one million US dollars — was issued by Merrill Lynch Global Wealth Management and … Continued

Custom Lamborghini Vault

With the desire to have a special home vault to match his car, a Lamborghini owner commissioned Brown Safe Manufacturing to craft him a special safe.

The World’s Richest Self-Made Women

Only 14 of the world’s 1,000 billionaires are self-made women, and only seven of them had no help from relatives, a new list has found. By contrast, 665 men are self-made billionaires including the three richest people in the world, Carlos Slim Helú , Bill Gates and Warren Buffett. Among the list are talk-show star … Continued

Oprah: $10000 and an Apple iPad for staff

Oprah Winfrey has gifted every staff member at her ‘O’ magazine an Apple iPad and 10,000 dollars to commemorate the 10th anniversary of the publication. Staffers at ‘O, The Oprah Magazine’ also received a leather case engraved with the their initials. According to a spokesperson for the magazine, this was Oprah’s way of showing her … Continued

Abu Dhabi Gets Gold Vending Machine

Abu Dhabi’s top hotel, the Emirates Palace, recently debuted a vending machine that dispenses gold bars. The machine, named Gold To Go, allows customers to trade cash for gold in quantities ranging from coins up to 10-gram bars. Customers using the shiny machine — itself gold-plated — can choose from 320 items, including gold customized … Continued

Seychelles up in arms over Emirati palace

A village in the Seychelles called La Misere is demanding millions in damages for pollution caused by the construction of a huge palace for the United Arab Emirates president, residents said Thursday. Sheikh Khalifa bin Zayed bin Sultan al-Nahyan, also the prince of Abu Dhabi, is building a lavish compound on the highest spot of … Continued