Christie’s sued in counterfeit wine case

A Palm Beach billionaire has uncorked a suit charging Christie’s auction house is in cahoots with counterfeit wine sellers. William Koch is still steaming about four bottles of wine supposedly owned by Thomas Jefferson that he bought for more than $300,000, which allegedly turned out to be fakes. He’s already sued the seller – and … Continued

Mexican Carlos Slim world’s richest in new ranking

The world’s new richest man, Mexican Carlos Slim, and a fresh crop of billionaires in Asia helped lead a comeback for the wealthiest few on the planet in 2010, Forbes magazine said Wednesday. The publication’s annual rich list reflected a resurgence of wealth after the financial turmoil of 2009, with the top 10 wealthiest worth … Continued

World’s 20 richest people: Forbes

The top 10 richest people in the world have a combined worth of 342 billion dollars in 2010, up from 254 billion a year ago. Here are the 20 wealthiest, as announced Wednesday by Forbes magazine in its annual list of the world’s billionaires: 1. Carlos Slim Helu and family. Mexico. Telecoms. 53.5 billion dollars. … Continued

A toy for every billionaire at Verona luxury fair

Shoppers wondering how to deal with the afterlife found an answer Friday — a cell-phone-equipped golden coffin, one of many items on display at the opening of an international luxury fair in Verona. The coffin was priced at a mere 280,000 euros (381,000 dollars), while a diamond-studded, cancan-style wedding gown in pink chinchilla fur could … Continued

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

2010 Hurun Best of the Best Awards

The Hurun “Best of the Best” 2010 Awards for preferred brands of China’s  richest consumers were announced yesterday by Hurun Report. The luxury business magazine is renowned for its annual “China Rich List” In its sixth edition Hurun surveyed 383 mainland millionaires, each with assets of at least RMB 10 million ($1.5 million). Among them … Continued

US billionaire gives Irish tourism a boost

Chuck Feeney, the billionaire philanthropist, is to co-fund a holiday voucher scheme to boost American tourism to Ireland next year. The 78-year-old Irish American has offered to match government funds to revive the flagging tourism industry, which slumped by 12% this year. He will support a scheme to offer $100 holiday vouchers to Americans planning … 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

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

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

Roman Abramovich buys $90M St. Bart’s property

Roman Abramovich, has spent $89million on a luxurious Caribbean estate in one of the most expensive private home sales of all time. According to the Wall Street Journal, the property has Balinese bungalows with ocean views, tennis courts, swimming pools and music and dining pavilions. “It’s very open bungalows, and it’s like you’re basically living … 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

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.

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

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

Israel’s Richest Woman Puts Her Yacht Up For Sale

Israel’s richest woman, billionaire Shari Arison, has put up her yacht, “My Shanti” up for sale. She is asking $100 million. Merle Wood’s listing states that the My Shanti is 212 feet/64 meters long, and built by the Dutch shipyard Amels in 2007. The My Shanti was assessed at $70-80 million a year ago, the … 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