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The latest news on Billionaires from Business Insider

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    graduation caps graduate collegeIn her book, "The MBA Bubble," Mariana Zanetti, an MBA graduate of IE Business School in Spain, argues that getting an MBA is a waste of time and money. The following has been excerpted from the book with her permission.

    The first thing I am going to say about wealth is that many authors who write about prosperity and wealth make it clear: A job will not make you rich.

    If you want to be wealthy, at some moment of your life, you will have to create a source of income other than your salary. This is an evident and crushing reality: If you sell your time to others, you will quickly reach limit in your capacity to generate income.

    In his book "Rich Dad, Poor Dad," Robert Kiyosaki said that the rich do not work for money; they generate assets that work for them. If you want to learn how to work for money, go to school. If you want to learn how to work even harder, you should get an MBA.

    OK, some top managers earn millions (and they are therefore millionaires). Some people still think they can get to those positions with an MBA — as if the Businessweek study, which found an MBA does not have a causal relationship with professional success, was not convincing enough.

    Do you want some more proof that an MBA will not get you there? If you look at the degrees of CEOs of the CAC 40 (the main stock exchange index in France), you will see that the MBA is nothing but an "optional" degree.

    In some companies, it is still desirable to climb the corporate ladder. These companies represent a very low percentage of the companies in the market, and you do not need an MBA if your biggest ambition in life is to climb to a top management position.

    But let's go back to the topic that interests you: how to be rich. If you want to be rich, you must be an entrepreneur, investor, or both. By a simple matter of statistics, your probability of becoming a rock star, sports star, or Standard & Poor's CEO are very low (and believe me, the MBA will not increase your probability of becoming a Standard & Poor's CEO).

    The richest men in the world are entrepreneurs and do not have MBAs. Many of them have no degree at all or quit college when they realized that it was only teaching them to be employees and to obey.

    Today these people hire the ones who have degrees. Consider the cases of Mark Zuckerberg with Facebook, Bill Gates with Microsoft, Steve Jobs with Apple, Amancio Ortega with Zara–Inditex, Richard Branson with Virgin, or Ingvar Kamprad with Ikea.

    And there are a lot of anonymous rich men and women who have never sat in a college classroom to learn how to be corporate slaves.

    An MBA may not make you rich, but it can open doors. Tell us: What do you think are the best business schools in the world? Please take our survey below.

    SEE ALSO: Why More MBAs Are Becoming Entrepreneurs Straight Out Of Business School

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    Billionaire entrepreneur John Paul DeJoria made his fortune by cofounding mega-companies like Paul Mitchell hair products and Patron tequila. Now, he's trying to tackle the digital music arena with his new company Rok Mobile.

    We talked to DeJoria about his financial successes and the lessons he learned along the way.

    Produced by Graham Flanagan. Additional camera by Justin Gmoser.

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    richard branson vomit comet zero G

    When Richard Branson was 16, he started a magazine called "Student."

    Six years later, he opened up a recording studio. The company's first song — a track called "Tubular Bells" by Mike Oldfield — stayed on the U.K. charts for 247 weeks. 

    The Virgin empire had begun.

    Now at 64, Branson is equal parts man, myth, and legend. His Virgin Group is composed of 400 companies, employs 60,000 people, and operates in more than 30 countries. He has an estimated net worth of $5 billion.

    Branson also has a flair for the dramatic. He's crossed the Atlantic Ocean in a hot air balloon and kite-surfed across the English Channel.

    To gain an understanding of the adventurous, wildly successful entrepreneur, we combed through his talks, interviews, and profiles. Here's what we found.

    On entrepreneurship

    "Entrepreneurship is about turning what excites you in life into capital, so that you can do more of it and move forward with it." 

    [Virgin, 2014]



    On human interaction

    "When I was young, every time I criticized someone, my mother would stand me in front of the mirror and say: 'The flaws you see in others are actually a reflection of yourself.' That taught me to pay close attention when I looked at others.

    "[My parents] also taught me to listen and value other people's advice and opinions. So I have always applied this in business and tried to be a good leader and bring out the best in people by listening to them, trusting in them, believing in them, respecting them and letting them have a go!"

    [The Gentleman's Journal, December 2012]



    On purpose

    "A business is simply an idea to make other people's lives better."

    [Inc., April 2013]



    See the rest of the story at Business Insider

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    sheryl sandberg facebook

    With a reported net worth of $1.1 billion, Facebook COO Sheryl Sandberg is one of the wealthiest women in tech.

    Though Sandberg lives in a stunning contemporary home in Silicon Valley with her husband and two children, she isn't known for having a particularly extravagant lifestyle. 

    Sandberg comes from a government background and has worked her way up to the top of two major tech companies. Now she's working on a movement to change women's position in the workforce, and she's recruited celebrities and traveled the globe to do it.

    Sheryl Sandberg was born Aug. 28, 1969, in Washington, D.C. She has two younger siblings: a brother named David and a sister named Michelle. The family moved to North Miami Beach when Sheryl was only 2 years old.

    Source: The New Yorker



    Sandberg's father was an ophthalmologist, and her mother taught French at a local college. The couple founded the South Florida Conference on Soviet Jewry through their local synagogue, and their home soon became a safe haven for Soviet Jews looking to escape anti-Semitism.

    Source: The New Yorker



    Sandberg always shone in school. "In public schools, for a girl to be smart was not good for your social life," her mother Adele told The New Yorker.

    Source: The New Yorker



    See the rest of the story at Business Insider

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    marc benioff salesforce

    While some tech CEOs, including Facebook head Mark Zuckerberg and  Google cofounders Larry Page and Sergey Brin, have opted to receive a $1 annual salary, others are still bringing in the big bucks. 

    The New York Times recently put together a list of the 200 highest-paid CEOs in America. Many of them run tech companies.

    Only chief executives leading companies with a market capitalization of at least $1 billion were considered. 

    While longtime CEOs like Larry Ellison and Marc Benioff are no strangers to lists like this one, there were some surprises. 

    #17 Adobe CEO Shantanu Narayen was paid $15.7 million in 2013, up from $12 million the previous year.

    Compensation breakdown: 

    Salary: $941,667

    Bonus: $1,638,500

    Perks: $19,211

    Stock: $13,148,100

    Options: $0



    #16 Verizon head Lowell McAdam took home $15.8 million in 2013.

    Compensation breakdown:

    Salary: $1,480,769

    Bonus: $4,125,000

    Perks: $780,874

    Stock: $9,375,077

    Options: $0



    #15 Broadcom CEO Scott McGregor made $15.9 million in 2013.

    Compensation breakdown:

    Salary: $977,154

    Bonus: $1,631,700

    Perks: $5,100

    Stock: $13,333,733

    Options: $0



    See the rest of the story at Business Insider

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    very british guy uk britain flag suit

    London is a global powerhouse that just keeps on growing.

    The city is home to 8.4 million people, but that number is expected to grow to nine million by 2021, and nearly 10 million by 2031.

    And this burgeoning population is younger than that of the rest of the UK — nearly 66% of Londoners are under the age of 44.

    Additionally, London is one of the most diverse cities, with about "50 non-indigenous populations."

    Although London is primarily known as a financial center, ithas a flourishing tech scene situated in "Silicon Roundabout."

    In 2011, London's buses traveled approximately 302 million miles in service — that's 12,128 times the circumference of the earth.

    In 2011, London's buses traveled an estimated 486 million kilometers in service — which is about 302 million miles. 

    The circumference of the earth is 24,901.55 miles.

    Plus: London has one of the largest bus networks in the world, with 19,500 bus stops and approximately 8,500 buses.

    Source: Transport for London



    London has the largest number of billionaires in the world and twice as many as the UAE.

    London has 72 billionaires, the most of any city. Moscow is in second place with 48 billionaires, and New York is third with 43.

    The next three cities are San Francisco, Los Angeles, and Hong Kong. The UAE has 37 billionaires.

    Source: CNBC



    The shortest distance between 2 London underground stations is the slightly more than length of 2 football fields, but it costs $7.26 dollars to travel.

    According to The Telegraph, the shortest distance "between two adjacent stations on the underground network is only 260 metres." That is 284.339 yards.

    It takes only 20 seconds to travel but costs £4.30, which is roughly $7.25.

    Source: The Telegraph



    See the rest of the story at Business Insider

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    Pierre OmidyarWhile some tech executives are quick to splurge on yachts and mega-mansions, others aren't so flashy with their riches.

    Mark Zuckerberg, for example, drives a $30,000 Volkswagen GTI, while Sergey Brin likes to buy things in bulk at Costco.

    We've rounded up 10 tech executives who have made millions or even billions with their companies yet have chosen lives of frugality and charity.

    David Cheriton, Stanford professor

    Net worth: $3 billion

    Cheriton, a professor at Stanford and cofounder of Arista Networks, became one of the first investors in Google after Larry Page and Sergey Brin did a demo of their project on his front porch in 1998. That initial $100,000 check has obviously paid off, but Cheriton dislikes the thought of being a billionaire.

    "I'm actually quite offended by that sort of thing," he told the Edmonton Journal in a 2006 interview. "These people who build houses with 13 bathrooms and so on, there's something wrong with them."

    He drives a 1986 Volkswagen Vanagon, has lived in the same Palo Alto home for the past 30 years, cuts his own hair, and even claims to reuse his tea bags. He did, however, splurge on a Honda Odyssey for his kids back in 2012.



    Charlie Ergen, chairman of Dish Network

    Net worth: $16.3 billion

    Ergen is notorious for being a frugal leader and micromanager — up until about 10 years ago, he insisted on signing every check that came out of Dish. 

    He packs a lunch of a sandwich and Gatorade before work every day, and until recently, he shared hotel rooms with colleagues during travel.

    "My mom grew up in the Depression," he told the Financial Times. "I don’t have a mahogany desk."



    Pierre Omidyar, founder and chairman of eBay

    Net worth: $8.1 billion

    Omidyar became a billionaire when eBay went public in 1998, but he never thought spending all of his money would be satisfying. 

    "We sort of skipped the 'regular rich' and we went straight to 'ridiculous rich,'" he said to Forbes. "I had the notion that, OK, so now we have all of this wealth, we could buy not only one expensive car, we could buy all of them. As soon as you realize that you could buy all of them, then none of them are particularly interesting or satisfying."



    See the rest of the story at Business Insider

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    Billionaire John Paul DeJoria has a lot to juggle – overseeing an empire that includes Patrón, Paul Mitchell, and his new cellular service Rok Mobile. But he chooses to streamline all communications by not using email... ever.

    Produced by Justin Gmoser. Additional camera by Graham Flanagan.

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    Richard Kinder

    Billionaire energy tycoon Rich Kinder, the CEO/cofounder of the pipeline giant Kinder Morgan, made $1.5 billion on Monday morning, Bloomberg News reported.

    Kinder Morgan announced a $70 billion mega-deal that would streamline all of its publicly traded entities into one company.

    The stocks — Kinder Morgan, Kinder Morgan Energy Partners, El Paso Pipeline Partners, and Kinder Morgan Management — are all higher on the news. The general view is that investors like the streamlined corporate structure and that the company will now have a lower cost of capital.

    Kinder is the largest shareholder of Kinder Morgan (KMI). He owns 243.1 million shares, or about a 24% stake, according to data from Bloomberg News.

    Following the deal's announcement, Kinder Morgan's stock was up $6.23 at the opening bell, Bloomberg News reported. That means Kinder made an additional $1.5 billion on his stake. 

    Kinder accepts a $1 per year base salary. The 69-year-old Texan already has an estimated net worth of $10.1 billion, according to Forbes.

    Adding $1.5 billion to your net worth is not a bad way to start a Monday. 

    SEE ALSO: Kinder Morgan shares explode after mega deal

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    eike batistaErstwhile billionaire Eike Batista has sold a prized possession — a Lamborghini Aventador, which the Italian automaker billed as its best model ever.

    Brazilian paper O Globo reports that the car was sold to a dealership for $1.1 million. The sticker price for one of these babies new is about $1.6 million.

    So Batista didn't get a bad deal, but maybe he didn't really enjoy the car while it was his, either, considering that it was sitting in his living room and was said to have a little over 1,200 miles on it when sold.

    Must have been nice while it lasted.

    The car was launched on the public in 2012. And, being the seventh-richest man in the world at the time, Brazilian mogul Batista bought himself a white one. Around the same time he told Bloomberg TV's Stephanie Ruhle that by 2015 he would be the richest man in the world, replacing Mexico's Carlos Slim.

    "Just give me time, let me work please,"he told Ruhle.

    Unfortunately for Batista, he has since fallen on hard times. That same year the oil fields that his flagship company OGX was developing turned out to hold far less black gold underground than surveyors had anticipated.

    Batista had bet the farm though — the farm being his then-$35 billion holding company, EBX — on the success of these fields, particularly one he called "Hammerhead." Slowly his six-company empire started to crumble.

    Now creditors are calling in debts. For example, Mubadala Investment Corporation, the Abu Dhabi sovereign wealth fund that once made a $2 billion investment in Batista's companies, has been forced to restructure its debt and take a stake in his mining company.

    Give it one last good look and say goodbye.

    lamborghini aventador


    NOW WATCH: This Billionaire's Definition Of Success Will Surprise You

    SEE ALSO: The Complete Story Of How Brazilian Tycoon Eike Batista Lost 99% Of His $34.5 Billion Fortune

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    Peter Nygard Bahamas

    It's the classic case of billionaire brawling: your 150,000-square-foot vacation mansion is encroaching on mine. 

    The dispute between billionaires Peter Nygard and Louis Bacon over their adjacent Bahamas mansions is coming to a courthouse in New York City.

    Bacon, hedge fund billionaire, is suing Canadian clothing magnate Nygard for allegedly engaging in "a long history of character assassination and numerous environmental misdeeds," related to Nygard’s tropical estate, according to The New York Times.

    Bacon claims Nygard has been "illegally and surreptitiously adding to the size of his compound to the detriment of the local environment," and even allegedly ignoring a government order in 2010 to limit building onto his 150,000-square-foot estate he calls "Nygard Cay."

    Additionally, Bacon claims the eccentric playboy billionaire has commercialized his property, turning it into a party pad for celebrities.

    And to add insult to injury, he also says Nygard has been assassinating his character by hiring journalists to write articles that paint Bacon as a "murderer, drug trafficker and a member of the Ku Klux Klan."

    Meanwhile, Nygard's lawyer says in a statement: "Today’s lawsuit is a continuation of Louis Bacon’s malicious campaign against Peter Nygard with the objective of obtaining Mr. Nygard’s Bahamian property (Nygard Cay), through illegal means, and to wrongfully continue to damage Mr. Nygard’s businesses and reputation."

    He plans on filing a countersuit. 

    Welcome to New York, boys. 

    SEE ALSO: Here's What $5 Million Buys In Housing Markets Across The Globe

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    harold sue ann hamm

    In one of the biggest divorce cases in history, Oklahoma oilman Harold Hamm could have to split his $17 billion fortune with his estranged wife, Sue Ann Hamm, according to Reuters

    The divorce trial of the founder of Continental Resources, one of the biggest petroleum liquids producer in the United States, is under a tight lockdown (in order to protect shareholders), but economic analysis has shown that Hamm would have acquired $17.6 billion during his 26 year marriage to Sue Ann.

    Hamm's enormous wealth comes from his 68% stake in his 'Oil Champion' company, resulting in him potentially being the biggest owner of oil in America.

    Reuters reported that if Hamm ends up with a large divorce settlement, he would have to finance it by selling Continental shares and his control in the company could dissolve.

    For a divorce settlement under Oklahoma law, the question comes down to how the fortune during the marriage was obtained. In other words, were there "active efforts" by either spouse to obtain the wealth — or did it just happen?

    Sue Ann Hamm's legal team would argue that Continental's growth resulted from the "active leadership and astute decision-making" of her estranged husband. While Harold's attorneys will try to prove that its growth resulted from "factors beyond his control."

    Hamm founded Continental in 1967, and married Sue Ann over two decades later in 1988. She was a former attorney at the company. They filed for divorce in February of 2014. 

    SEE ALSO: Private Equity Billionaire Leon Black Is About To Buy This $50 Million Townhouse On The Upper East Side

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    New York City is the billionaire-breeding capital of the world, according to a new report from Spear's and WealthInsight.

    Fifty-two billionaires have been born in the Big Apple, totaling 3.09% of all billionaires on the planet. Moscow came in second, while London came in third.

    Top 25

    The above map is actually a better indicator of "billionaire hives" six decades ago, rather than today, because the average billionaire is 63, WealthInsight's Oliver Williams told Spear's. While some cities on the ranking, like New York and London, still continue to mint wealthy individuals, others, like Detroit and Pittsburgh, rarely do.

    In 2012, 70 billionaires lived in New York City, more than in any other city. Moscow and London also count large numbers of billionaires among their current ranks.

    A study from Spear's and WealthInsight from earlier this summer found that one in every 21 New Yorkers is a millionaire. That's 4.63% of the population. The No. 1 city, Monaco, has nearly 3 in 10. 

    SEE ALSO: Monaco Penthouse Concept Could Hit The Market For $280 Million

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    larry ellison musashi yacht

    For some billionaires, when it comes to buying a yacht, bigger is always better.

    Tech billionaires definitely don't disappoint. Megayachts belonging to entrepreneurs like Larry Ellison, Mark Cuban, and Paul Allen are among the biggest privately owned boats in the world. 

    They have some pretty out-of-this-world features, too. One even has a special deck that can be transformed into a nightclub, while others have multiple helicopter landing pads and submarines. 

    We've rounded up some of the biggest yachts owned by tech executives.

    #10 Skype cofounder Niklas Zennström is an avid sailor and owns several yachts in the Rán Racing fleet, including the 72-foot "Rán" and brand-new "Rán V."

    Source: VSail



    #9 Virgin founder Richard Branson owns a 105-foot catamaran called the "Necker Belle," which he charters out for $110,000 a week. He put the yacht up for sale in March, though he has yet to find a buyer.

    Source: Yacht Charter Fleet



    #8 In 2011, Google cofounder Larry Page bought the 193-foot "Senses" yacht from New Zealand businessman Sir Douglas Myers for $45 million. The yacht was designed by Philippe Starck, has a helipad and jacuzzi, and can accommodate up to 10 guests and 14 crew members.

    Source: New Zealand Herald, Daily Mail



    See the rest of the story at Business Insider

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    John Paul DeJoria has a lot to balance with all of the companies he manages under his empire. The billionaire still finds a way to focus on his success and happiness. This is how he does it. 

    Produced by Justin Gmoser.

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    Amazon CEO Jeff Bezos

    Creativity and ambition breed hope in the hearts and minds of entrepreneurs across America. These five incredible people embody the American Dream and though they came from humble beginnings, now rank among the wealthiest and most successful business people on the planet.

    Howard Schultz poured his heart into it.

    The son of a high school dropout and a truck driver, Starbucks CEO Howard Schultz grew up in public housing in Brooklyn. He was encouraged from an early age to believe in his ability to succeed and ended up the first person in his family to go to college.

    In his book, "Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time," Schultz explained that he bartended, sold his blood, and took out loans to get himself through college. After stints selling kitchen equipment and housewares, Schultz took a marketing job with a little coffee store called Starbucks. He wanted to start a small espresso bar but was told "No," by his superiors, so he simply used their beans and started his own rival store. Two years later, in 1987, he bought Starbucks for $3.8 million. Their sales now top $15 billion a year.

    Today, Schultz is widely recognized as a business savant and has a net worth of $2.2 billion, according to Forbes.

    oprah winfreyOprah Winfrey takes control of her own business destiny.

    She leads the kind of glamorous life today that millions covet, but Oprah certainly knows hardship. A survivor of sexual assault and teen pregnancy, Oprah was raised by her teen single mom in poverty in 1950s and 1960s rural Mississippi.

    At 32, Oprah landed her TV show, a spot she would go on to occupy for 25 years. It was her business and communications savvy that really elevated her to billionaire status, though. The massive success of her multimedia brand Harpo Productions and more recently, the Oprah Winfrey Network, made Oprah a force to be reckoned with not only with a microphone but also at the board table.

    Currently, Oprah's net worth is an estimated $2.9 billion. Not bad for a young girl trying to find her way out of poverty in rural America.

    Larry EllisonLarry Ellison beat the odds in every way imaginable.

    After a bout of pneumonia as a toddler, Larry Ellison left the young, single mother in New York who couldn't care for him, only to land in the care of a poor immigrant relative on Chicago's south side. According to Ellison's biography as written by Mike Wilson, his adopted father told Ellison he would never amount to anything.

    After the death of his adoptive mother, Ellison left the University of Illinois in his second year without taking his final exams. He tried a term at the University of Chicago, but ended up moving to California. After a few false starts with other companies, Ellison and two partners founded Software Development Laboratories with combined personal investments of $2,000. In 1982, the company was renamed Oracle Systems Corporation after its main product, the Oracle database.

    Today, Ellison's net worth is an estimated $51.5 billion and, at 70 years old, he shows no signs of retiring from his position as Oracle's CEO.

    Jeff Bezos shows value of youth work ethic.

    Amazon founder and CEO Jeff Bezos had a modest upbringing. As a child, he worked hard on his grandfather's farm near Albuquerque, helping with chores like laying pipe and vaccinating cattle. In his teens, Bezos had a summer job at McDonald's, just a year before he really showed his entrepreneurial chops by launching a $600-per-child summer science camp.

    Bezos graduated from Princeton in 1986, but he didn't find his life's greatest success until he left a good hedge fund job and founded Amazon in 1994. Amazon exploded in the latter part of the first decade of the new millennium.

    Though much of his wealth is tied up in his company's stock and declines this year have eaten into his net worth, as of April 2014, Bezos was still worth $29.7 billion.

    jan koum whatsappJan Koum and the American dream.

    Ukrainian immigrant Jan Koum came to the United States at the age of 16 with his mother and grandmother. The little family settled in a small two-bedroom apartment in Mountain View, California, with the assistance of a social support program. Koum's mother babysat for a living while the teen worked at a grocery store.

    Koum taught himself computer networking outside of his work hours, and this interest in programming took him to San Jose State University at 18. He worked as a security tester to help pay for his schooling and landed an infrastructure engineer position at Yahoo in 1997. Early in 2009, he and partner Brian Acton launched cross-platform mobile messaging app WhatsApp, which sold to Facebook this year for $19 billion.

    Koum signed the papers for Facebook's acquisition of his company on the steps of the same welfare office he used to frequent for food stamps.

    There's a common element in each of these success stories: entrepreneurial spirit. Whatever your station in life, know that great things are possible. These people who took themselves from broke to billionaire are living proof.

    SEE ALSO: The Best Colleges For Becoming A Billionaire

    Join the conversation about this story »


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    Mark Zuckerberg in his car

    We all need to get from point A to point B. Some just do it in better style — mainly because they have millions or billions of dollars from their innovative startups.

    We all know these tech moguls can be humble, but we thought it'd be fun to round up what tech cofounders and CEOs are driving these days, which range from extremely modest to ridiculously expensive.

    Some of the wealthiest living in Silicon Valley own flashy $100,000 sports cars, while others are totally happy cruising around in everyday roadsters.

    Facebook CEO Mark Zuckerberg reportedly owns several cars including an Acura TSX and a Volkswagen Golf GTI, but Zuckerberg reportedly put money down on a Pagani Huayra. The Italian hypercar starts at a modest $1.3 million.



    Amazon CEO Jeff Bezos still drives his 1996 Honda Accord. That model today costs around $4,000.



    Snapchat founder and CEO Evan Spiegel enjoyed several luxury cars growing up, but after a Series B funding round last June, Spiegel immediately bought himself a Ferrari. Ferraris range from $188,000 to $400,000 and up.



    See the rest of the story at Business Insider

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    57th street side by sideThe market for high-end penthouses and ultra-luxury apartments in New York City is booming, and developers are once again building expensive new units after a post-recession slump.

    Nowhere is the rise of development more striking than on 57th Street, where six new luxury high rises are under construction, casting long shadows over Central Park and earning the street the nickname "Billionaires' Row."

    One57 already stands at 1,005 feet, making it New York's new tallest residential tower. Soon, that title will be surpassed by 432 Park, which will top out at 1,396 feet, and then Nordstrom Tower, which will reportedly rise 1,775 feet in the air when it's completed in several years.

    And that's just a sampling of the building spree on 57th Street.

    Michael Gross, author of of "House of Outrageous Fortune" and "740 Park: The Story of the World's Richest Apartment Building," told Business Insider that these shiny new skyscrapers are “bizarre throwbacks" and "effectively hotels for foreign money.”

    "I suspect they will be a 'flash in the pan,'" Gross said. "The motivation to build them doesn't seem to be to build homes for New Yorkers, but to attract investment capital without regard to what sort of homes they will be."

    Indeed, many of the new units will be bought as investments, rented out, and flipped for a profit. But whether the glossy highrises of "Billionaires' Row" are a passing fad or mainstay for New York's elite, they are quickly changing the face of the city.

    57th Street is already known for its famous buildings, hotels, and restaurants. The 2-mile thoroughfare is home to the Hearst Tower, Le Parker Meridien hotel, Carnegie Hall, and the Russian Tea Room.

     



    The street will soon be home to six new residential buildings that will change the face of New York's skyline due to their sheer height.



    The artist's renderings below (courtesy of New York YIMBY) show what Manhattan's skyline will look like in 2020. The buildings outlined in red are all new.

    Source: New York YIMBY



    See the rest of the story at Business Insider

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    MG ivanka trump

    Life is easy if you're born to billionaire parents, but it's even sweeter if you have dashing good looks, too.

    That's the case with the 26 beautiful children of business magnates, fashion moguls, and casino tycoons.

    And while some of these heirs have cashed in on their family names, many are striking out on their own, starting charities, or taking over the family business.

    Vanisha Mittal, daughter of Indian steel magnate Lakshmi Mittal

    Lakshmi Mittal, No. 65 on the Forbes' world billionaires list and India's second-richest man, is worth $15.9 billion*

    Vanisha, 34, is a graduate of the European Business School and recieved her MA from the University of London.

    She is heavily involved with charitable work and oversaw a project in India to improve the quality of life for one rural town's inhabitants.

    For her 2004 marriage to investment banker Amit Bhatia, her father threw her a reported $60 million wedding at the 17th Century Chateau Vaux le Vicomte with a performance by pop star Kylie Minogue.

    *Note: Forbes rankings and net worths on this list were correct as of 9/02/14. The rankings change frequently.



    Sofia Abramovich, daughter of Russian oligarch Roman Abramovich

    Roman Abramovich is No. 135 on the Forbes list and is worth $9.5 billion

    Sofia (née Sonya), 19, is one of the five children Abramovich shares with his ex-wife and former Russian Aeroflot stewardess Irina.

    The 19-year-old recently made headlines when her public Instagram account was spotted by The Daily Mail detailing her home life in the English county of Hampshire.

    Sofia loves horses and competes in international show-jumping competitions. She competed at the Longines Global Champions Tour at Horse Guards Parade in London and has a stable full of horses herself in England.



    Rotimi Alakija, son of Nigerian oil magnate Folorunsho Alakija

    Folorunsho Alakija, No. 698 on the Forbes list and the richest woman in Africa, is worth $2.6 billion

    Rotimi, 30, is better known as DJ Xclusive, his stage name as a British Nigerian DJ, producer, and artist.

    With a degree in Financial Computing, he began his career as a DJ in 2003 at U.K. dance clubs like Vendome and Tribeca Nightclub to make extra money. He's since gone on to win awards, becoming an On Air Radio DJ for Cool FM Lagos, and is signed to the EME Record Label.

    His recent singles include "Ibebe" and "Gal Bad." You can follow DJ Xclusive on Twitter.



    See the rest of the story at Business Insider

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    John Paul DeJoria, the man behind brands such as Paul Mitchell, Patrón, and Rok Mobile, is certainly successful by any measure. But his billionaire status didn't come easy. DeJoria describes his "rags-to-riches" story and explains why he thinks the dream is still alive.

    Produced by Justin Gmoser. Additional Camera by Graham Flanagan. 

      

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