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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

$100m yacht for German billionaire who cut employee wages

A German billionaire who has put his factory workers on short-time and cut their wages has bought himself a luxury megayacht according to DailyMail. Screw manufacturer Reinhold Würth (#93 on the Forbes 2009 list) has ordered 1,250 of his 5,000 employees in Germany to reduce their working hours and cut their pay by 15 percent. … Continued

Sardinia to scrap tax on mega rich

The new governor of the sun-swept Italian island of Sardinia is repealing a tax on the mega rich that will benefit, among others, jet setters like billionaire Prime Minister Silvio Berlusconi. Governor Ugo Cappellacci, the son of Berlusconi’s tax adviser, proposed a budget that repeals the tax on mooring luxury yachts and landing private aircraft … Continued

Dollar Teddy Bear

The bear is sewn entirely out of genuine U.S. dollar bills. No eyes, no mouth, just old dollar bills. The bear is 12″ tall and sells for a whopping $1,250 (far more than what is sewn on his body). Source: Vivre

The 2009 Forbes billionaires list

The American national business magazine, Forbes, compiled and published the list of billionaires including the world’s wealthiest people as of the first quarter 2009, based on each person’s total net worth. Bad news for rich people: last year there were 1,125 billionaires, but this year there are just 793 people rich enough to make the … Continued

No More Luxury Stays For Chinese Officials

The Chinese Communist Party has told its members to embrace austerity after a series of embarrassing revelations about extravagant business trips. The latest scandal came when 14 officials from the southern province of Guangdong went on a two-week junket around Africa and the Middle East that included a stay at the Burj al-Arab, a seven-star … Continued

TV Show Fortune Hunters: An episode about luxury

Do you guys know CBC Television Show called FORTUNE HUNTERS (which is all about Canadian entrepreneurs) ? They’ve just launched their second season, and you should watch their upcoming luxury-themed episode. They’re featuring two stories : one about an entrepreneur who is starting up a caviar business and the other one is about an entrepreneur … Continued

City banker spent £43,000 on champagne

The Telegraph has a receipt for a bill at Maya, a club in London’s Soho area that shows a £43,067.50 bar bill from this week. The astonishing bar bill included two methuselah of Dom Perignon champagne at £9,000 each, and four jeroboam of Crystal champagne costing £4,500 each. A methuselah is eight times the normal … Continued

Billionaire Boys Club Gold Rucksack

Here is a Rucksack that will match every luxury loving billionaire’s lifestyle: the much anticipated gold rucksack from the Billionaire Boys Club S/S 2009 Collection has been released. Very similar in style to the original Louis Vuitton rucksack, the backpack features the brands diamond/dollar monogram pattern all-over. Only four of these are available for $1,650. … Continued

Pershing Won Best Luxury Performance Yacht 2009 Award

The immense popularity of the Pershing brand on the Chinese market has been reconfirmed for 2009, too. An awards ceremony was held recently in the elegant setting of the Hotel Pudong Shangri-La in Shanghai, during which Pershing, a Ferretti S.p.A. brand and famous Italian shipyard specialising in the production of luxury yachts, was presented with … Continued

JamesList Launches Global Luxury Marketplace

Stockholm-based Jameslist.com has just launched the “world’s first truly transparent luxury marketplace”, allowing buyers to find and compare high-end cars, watches, boats, yachts and aircraft from dealers around the world. The site features some 20,000 listings, including rare watches such as the Paul Newman Rolex Daytona, hard-to-find cars like the Maserati MC12 and Ferrari Superamerica, … Continued

Glitch leaves man 100 billion pounds overdrawn

A man was left reeling in shock Tuesday when his bank statement showed him to be 100 billion pounds (144 billion dollars, 102 billion euros) overdrawn. As if the credit crunch was not hitting Britons hard enough, Donald Moffat was temporarily in deep, deep, deep financial trouble, due to a “technical error”. When 38-year-old Donald … Continued

How The Luxury Consumer Will Spend In 2009

According to Forbes, wealthy consumers will spend, but differently than before. Exclusivity will be embraced as will quality and dependability. What’s more, luxury brands will begin offering discounts and incentives-something many have never done before. “The days of shopping ’til you drop are over,” says David Lamb, chief strategic officer at diamond giant De Beers, … Continued

Spend Your Money With a Cavalli Credit Card

Just in time for the recession, Roberto Cavalli has introduced an exclusive snakeskin credit card. Rather than the platinum of the “other” cards, the snake hide card is made of authentic snake. Why stick to a boring bank card when you can carry around a shimmering piece of animal-print plastic? Special VIP services at every … Continued

Visa Launches The Visa Black Card

In case you haven’t heard already, Visa has launched their own Black Card.This card will be made from carbon graphite, sport a $450 annual fee , offer a 24hr concierge like the Amex Platinum and Centurion, and has allows access to Travel Lounge Priority Pass. The Visa Black Card has a unique feel because it … Continued

Diamond-studded VISA card

A bank in Kazakhstan, an oil-rich Caspian nation, has unveiled a new VISA card encrusted with a shiny 0.02 carat diamond and laced with an elaborate gold pattern. “It’s (designed) for a private club of VIP clients,” said Dmitry Nikolin, executive director of Kazakhstan’s mid-size Eurasian Bank which released the card on Tuesday. The card … Continued