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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

Gold beer mug launches in Japan

June is the traditional start of the Japanese rainy season and you can be golden for showers with this solid gold mug that is so appropriate for getting through this Great Recession. Worth $50,000, the item has been introduced as part of gold manufacturer Ginza Tanaka’s latest collection. The firm has created the Summer Cool … Continued

Millionaire banker giving away his home

A newly divorced City banker is “giving away” his millionaire lifestyle complete with his home, car and boat in a competition that anyone can enter for £20. Andrew Paul’s five-bedroom home in an acre of Kent countryside has been valued at £1.1million and has a designer kitchen, cinema and games rooms. His new Aston Martin … Continued

Airbus A380 Superjumbo Private Flying Palace

An unkown buyer from Middle Eastern prince has spend £300 million ($482 million!) for a luxurious Airbus A380 private jet, which is being designed by Worcestershire-based firm Design Q. The converted Airbus A380 is expected to be ready in three years time and will hold the title of the world’s largest private jet. In a … Continued

Russia’s richest man to pay taxes in Siberian village

Russia’s richest man, Mikhail Prokhorov, has moved his official address from Moscow to the remote town of Yeruda in Siberia’s Krasnoyarsk region. A move that will see his tax contribution go to the local budget, regional authorities said. The village of Yeruda has the largest gold field in the Kranoyarsk Territory, operated by Polyus Gold, … Continued

Owner of H&M is Buying English Village

The Swedish billionaire Stefan Persson, who is the owner of H&M, is reportedly buying an entire English village and up to 2,000 acres of surrounding countryside for 25 million pounds. Stefan Persson, who is thought to be the world’s 16th richest man with his wealth valued at £11.4billion, is said to be snapping up all … Continued

Gold Vending Machines

A German asset management company plans to set up 500 Gold-to-Go ATMs in Germany, Switzerland and Austria this year. A gold-dispensing automatic teller machine (ATM) was on display at Frankfurt’s main railway station for a one-day marketing test this week. A one-gram piece of gold, the size of a child’s little fingernail and about as … Continued

Abramovich loses yacht in poker game

Russian billionaire Roman Abramovich lost one of the yachts in a game of poker, Russian newspapers reported on Monday, prompting a strong denial from the oligarch. “The story is absolutely, completely, entirely false,” Abramovich spokesman John Mann told AFP after three Russian daily newspapers published versions of the story that originated in the Italian press. … Continued

Inside Lux TV launches as first HD luxury TV

Inside Lux TV launched today as the world’s first high definition TV and video portal aimed toward the luxury market. The HD video gallery is composeed of six major themes that include fashion, gadgets and travel. The luxury living channel has a sizeable selection of lifestyle films produced by brands that include Lamborghini, Dom Perignon … Continued

Russian Billionaires Reluctant to Give Up Their Toys

For most of the decade, Russian billionaires spent hundreds of millions of dollars on boats, jets, expensive art and the occasional football team. But, despite strained bank accounts and public outrage, the tycoons have been loath to part with their expensive trinkets, choosing instead to hunker down and wait for better days. To be sure, … Continued