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The latest news on Billionaires from Business Insider

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    Michael Bloomberg in a bowtie

    With a fortune of $33.7 billion, former New York City mayor Michael Bloomberg recently landed on our list of the richest self-made billionaires.

    Though his 12-year run as mayor ended in 2013, the billionaire remains as busy as ever, and is spending plenty of money as he goes. After all, he hopes to give away his entire fortune before he dies. 

    From his early days working on Wall Street to his generous philanthropic donations, here's how Bloomberg made — and spends — his billions. 

    SEE ALSO: The 25 richest self-made billionaires

    Born on Valentine’s Day in 1942, Bloomberg grew up in Medford, Massachusetts, a small town near Boston.

    Source



    After graduating from Johns Hopkins with a degree in electrical engineering and earning an MBA from Harvard, Bloomberg landed a job at Salomon Brothers in New York City, where he spent countless hours counting out stocks and bonds in the bank’s vault. He eventually worked his way up the ranks and was named partner in 1972.

    Source



    In 1978, he was put in charge of running the firm’s information technology division — a clear demotion. But he stayed at Salomon for three more years until the company merged with commodity trading firm Phibro in 1981 and let Bloomberg go, along with a severance check to the tune of $10 million.

    Source



    See the rest of the story at Business Insider

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    mark cuban jet

    When you're worth several billion dollars, you're bound to want to spend that wealth on some extravagant toys. 

    As it turns out, wealthy tech executives are no exception to the rule.

    From sports franchises to private planes, we've rounded up some of the most interesting toys tech billionaires have splurged on in the past.

    Google chairman Eric Schmidt has a $72-million yacht called the "Oasis," which he charters out for $400,000 a week. The yacht has plenty of amenities, including a pool, jet skis, and a gym that can be converted into a disco.

    Source: Page Six



    Yahoo CEO Marissa Mayer is known for her taste in high-end designer goods. In 2006, she had some 400 pieces of glass art by Dale Chihuly installed in the ceiling of her penthouse apartment at San Francisco's Four Seasons hotel. Chihuly's work typically sells for an average of $15,000 each, and the delivery reportedly caused significant traffic problems in the city.

    Source: Gawker, Business Insider



    In 2013, Tesla CEO Elon Musk paid $866,000 at auction for the Lotus Esprit submarine that appeared in the 1977 James Bond flick "The Spy Who Loved Me." He's said he wants to try and make it "transform for real."

    Source: Jalopnik

     



    See the rest of the story at Business Insider

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    mark zuckerberg smiling

    Forget the vacations and private getaways — for Facebook founder and CEO Mark Zuckerberg, happiness is all about helping others alongside the people he loves. 

    During a Q&A on Facebook last month, Zuckerberg answered a ton of questions and wrote a great deal about how people play a huge role in his life and work:

    To me, happiness is doing something meaningful that helps people and that I believe in with people I love.

    I think lots of people confuse happiness with fun. I don't believe it is possible to have fun every day. But I do believe it is possible to do something meaningful that helps people every day.

    As I've grown up, I've gained more appreciation for my close relationships — my wife, my partners at work, my close friends. Nobody builds something by themselves. Long term relationships are very important.

    Considering Zuckerberg was a psychology major before he dropped out of Harvard, his marriage to college sweetheart Priscilla Chan, and his history of forgoing fancy cars, clothes, and a salary, his answer isn't all too surprising.

    But it's a refreshing change of pace to hear such a down-to-earth response from a man running one of the most successful tech companies in the world and who has a personal net worth estimated at $35 billion, according to Wealth-X.

    SEE ALSO: Mark Zuckerberg reveals why he only makes $1 a year

    Join the conversation about this story »

    NOW WATCH: Someone figured out the purpose of the extra shoelace hole on your running shoes — and it will blow your mind


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    dining room minecraft house

    Markus Persson, a Swedish video game programmer best known for creating Minecraft, famously dropped $70 million for a 23,000-square-foot Beverly Hills mansion in December 2014.

    The purchase was a record for the area, and Persson reportedly outbid Beyonce and Jay Z, who had visited the home a number of times.  

    In addition to an infinity pool, eight bedrooms, and fifteen bathrooms, the home came furnished with some very expensive decor, like a $500,000 living room set by Bentley and a wine cellar stocked with bottles of Dom Perignon. 

    The over-the-top house was listed by Ben Bacal Realty as well as Branden Williams and Rayni Romito Williams of Williams & Williams.

    A recent story in the Los Angeles Times shows the great lengths realtors like the Williamses will go to to market a property of such high value to billionaires.

    According to the Times, the Williamses spent $50,000 a month to advertise the listing on billboards on Sunset Boulevard, in addition to print ads in luxury publications.

    When Persson flew in to Los Angeles to view the home, the realtor couple hired a chef to prepare a meal of lamb chops. The chef's services cost $5,000. 

    But, according to the Times' account, when Persson arrived, he said he was in the mood for sushi instead.

    The Williamses, amazingly, were able to get platters of sushi from renowned chef Nobu Matsuhisa delivered at the last minute. They had a group of models serve the meal to the prospective buyer. 

    Their effort obviously paid off  — Persson ended up buying the home for $70 million in cash. 

    minecraft mansion

    The Williamses most recently spent about $40,000 to create a "lifestyle film" to market their latest listing in Los Angeles: a $33 million mansion located in the Bird Streets.

    Persson's net worth is estimated at $1.3 billion.

    SEE ALSO: The founder of a 4-person startup that sold for $60 million lives in this amazing loft

    Join the conversation about this story »

    NOW WATCH: Here's Video Of That Bonkers $70 Million Mansion That The Minecraft Creator Bought, Outbidding Jay Z And Beyoncé


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    Greekisland5FULL

    Greece has between 1,200 to 6,000 islands, according to a range of different estimates, and there is no definitive answer on how many the Greek government owns.

    What we do know is that dozens of islands are up for sale and British property agent Knight Frank is predicting a "fire sale" of Greek privately owned islands over the next few years.

    If the Greek government does become desperate, it can also hawk off some of its island assets to help raise the €50 billion (£36 billion / $55 billion) that is needed to appease its creditors.

    On Private Islands Online, some islands are going for as little as €3 million (£2.1 million / $3.3 million). That's less than a house in an upmarket place in London like Chelsea. 

    Check out some of these beautiful islands that a could be easily bought by wealthy investors from Private Islands Online.

    11. Omfori Island – €50 million (£36 million, $55 million).

    Location: Ionian Sea
    Development: Partially Developed
    Size: 1112.00 Acres / 4,500,000 square metres

    This partially developed island only has one building – the one you see in the picture. It does, however, have planning permission for someone to build on 20% of the island. Private Islands Online says in the prospectus that if the buyer can prove that it is a good investment to build more properties on the island, the Greek government is likely to grant further permission.



    10. Dulichium Island – €40 million (£28.4 million, $44.1 million).

    Location: Ionian Sea
    Development: Non-developed
    Size: 1335.00 acres / 5,400,000 square metres

    This is the largest private island for sale in Greece right now. The highest point on the island is 250 metres above sea level. It has around 4,000 olive trees, shrubs and dwarf bushes. It is undeveloped but it does present an opportunity for someone to turn it in a luxury hotel resort.



    9. Northern Aegean Island – €35 million (£25.9 million, $38.6 million).

    Location: Chora
    Development: Non-developed
    Size: 86.00 acres / 348,029 square metres

    This island is only half an hour a way, by speedboat, from Athens. A number of international developers are already showing an interest, according to Private Islands Online, due to the island's close proximity to the Greek capital.



    See the rest of the story at Business Insider

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    Bill Gates

    Microsoft founder Bill Gates is the richest man in the world with a net worth of $79.2 billion (£50.7 billion), while Mexican telecoms mogul Carlos Slim comes in second with a net worth of $77.1 billion (£49.3 billion). But neither "Bill" nor "Carlos" is among the top five most common names of today's billionaires.

    So which names make the cut?

    Approved Index, a UK-based business-networking group, crunched the numbers from Forbes' 2015 billionaire list using this week's data.

    It turns out there are five clear winners. 

    5. Robert

    Number of billionaires with that name: 20

    % of billionaires with that name: 1.1%

    There are no billionaires named Robert in the top 100 richest people in the world, but there are 20 overall. Perhaps the most notorious this year is Robert Durst, the New York property mogul, who is suspected of three killings.



    4. Wang

    Number of billionaires with that name: 25

    % of billionaires with that name: 1.37%

    Forbes estimated that China is home to 400 billionaires in the country. So it's no surprise that the popular Chinese name "Wang" reached the top five most popular names for billionaires.

    China's fourth-richest man is Wang Jianlin with a net worth around $34.6 billion (£22.1 billion). He owns the property company Dalian Wanda Group, which controls more than 200 department stores, shopping plazas, and luxury hotels.

     



    3. Michael

    Number of billionaires with that name: 25

    % of billionaires with that name: 1.37%

    There are a number of famous billionaire Michaels in the world, but perhaps the most well-known is Michael Bloomberg.

    The former New York City mayor and owner of the financial news and information company Bloomberg is estimated to be currently worth $37.1 billion (£24 billion) and is the 14th richest man in the world. 



    See the rest of the story at Business Insider

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     Salma Hayek Francois Henri Pinault

    Salma Hayek has been married to billionaire François-Henri Pinault, CEO and chairman of the fashion conglomerate Kering, for nearly seven years, but the actress still gushes about him.

    "I wish I knew [when I was younger] that I was going to fall crazy in love with the perfect man," Hayek recently told Allure magazine. "I was so worried, and I dated some people I shouldn't have dated ... You get desperate, and you start seeing wonderful things in the wrong guys. I wish I could say to myself, 'Hey, chill out. You're going to get a great husband that's going to adore you.' I would have saved myself a lot of personal drama."

    Salma Hayek Francois Pinault Valentina daughterToday the two are proud parents to their 8-year-old daughter, Valentina Paloma Pinault, but Hayek acknowledges that having a child changed her professional ambition.

    "I said, 'I don't think I want to work anymore,'" the Oscar-nominated actress, who gave birth when she was 41, told Allure. "And it was François who said, 'Oh, no, you're going back to work.' And I said, 'I don't want to.' 'Well, you have to. We're not putting up with some lazy girl in the house. That's not who I married.'

    "And then he said something so beautiful," she added. "'I don't want to be deprived of your work. I want to watch it, too. And the world has not seen the best of you yet. So you cannot stop until some of that is put out.' So he sort of really pushed me, like, 'Get up on your feet and get out there.' And he was right."

    Hayek has gone back to work but tells Allure: "I've never been apart from my daughter for more than two weeks. And same with François. We don't separate for long periods of time. Never."

    Since the birth of her daughter in 2007, Hayek has appeared in 15 TV and film projects, and she has three more lined up through 2016. She is now promoting "The Prophet," an animated film based on Lebanese poet Kahlil Gibran's book, which she is producing and voicing a character in.

    Last weekend, Hayek accompanied Pinault to Sun Valley for Allen & Co.'s 33rd annual weeklong conference, aka summer camp for billionaires.

    Salma Hayek Francois Henri PinaultIn May, the two attended the Cannes Film Festival.

    Salma Hayek  Francois-Henri Pinault They can often be found sitting front row at fashion shows ...

    Francois Henri Pinault salma hayek... or hand-in-hand on the red carpet.

    Salma HayekSalma Hayek Francois Pinault event

    SEE ALSO: 24 power couples at Allen & Co.'s annual 'summer camp for billionaires'

    Join the conversation about this story »

    NOW WATCH: We just learned a bunch of new details about what's coming up in the next 'Star Wars' movie


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    Beirut man

    There are 1826 billionaires in the world and there are some countries that have hundreds of them.

    However, while nations like China may house some of the world's richest people, with 400 billionaires, it doesn't actually have the highest number of billionaires in proportion to the population.

    Approved Index, a UK-based business-networking group, crunched the numbers from Forbes' 2015 billionaire list using this week's data and found that the most billionaire-dense nations across the world are pretty surprising.

    15. Taiwan

    Number of billionaires: 33

    Population: 23,456,545

    Population per one billionaires: 710,804

    Taiwan's billionaires have a combined net worth of $117.1 billion ($75.1 billion) after a boom in its financial services sector and strong trade links with China. Daniel and Richard Tsai are the richest men in the country, with a net worth of $10 billion (£6.4 billion), after assuming leadership of financial services giant Fubon Financial.



    14. Kuwait

    Number of billionaires: 5

    Population: 3,268,431

    Population per one billionaires: 653,686

    Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. This is mainly because the geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. 



    13. United States

    Number of billionaires: 536

    Population: 321,369,000

    Population per one billionaires: 599,569

    The U.S. houses the largest amount of billionaires in the world and continues to dominate the rankings for the world's richest people. You have Microsoft founder Bill Gates who tops the overall wealthiest people in the world list with a net worth of $79.4 billion (£50.9 billion) and legendary investor Warren Buffett with $67.3 billion (£43.2 billion) at third. It ranks lower in the list though when looking at the number of billionaires per proportion of the population.



    See the rest of the story at Business Insider

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    Lloyd Blankfein

    Lloyd Blankfein, the CEO and chairman of Goldman Sachs since 2006, is now a billionaire.

    The legendary Wall Street titan, who grew up in a housing project in Brooklyn and ended up earning degrees from Harvard University, has seen his net worth surge to $1.1 billion (£704 million).

    According to the Bloomberg Billionaires Index, the massive surge in his wealth is due to his being the largest individual shareholder in the investment-banking giant Goldman Sachs, which manages nearly $911.5 billion (£583 billion) in assets.

    Goldman Sachs' share price has quadrupled since the firm went public in 1999. Blankfein has a $500 million (£320 million) stake in the group. His ownership of 2.24 million shares makes him the bank's largest stockholder. He also has around $600 million (£384 million) from a real-estate and investment portfolio.

    On top of that, he has made $126.6 million (£81 million) in compensation over the past four years, which seems like pocket money relative to the rest of his wealth.

    In Goldman's second quarter this year, earnings came in stronger than expected. The firm reported a 13% rise in investment-banking revenues, when compared with the same period last year.

    In the investment-management division, revenues were $1.65 billion, or 14% higher than the year-ago quarter and 4% higher than last quarter. The bank said that was due to higher fees.

    Join the conversation about this story »

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    Lloyd Blankfein

    Goldman Sachs' CEO Lloyd Blankfein is officially a billionaire.

    The bank CEO now has an estimated $1.1 billion net worth thanks to the rise in Goldman's stock price. (About $500 million of his worth is in Goldman's shares, Bloomberg calculated). 

    What's really remarkable about Blankfein, though, is that he's someone who comes from humble beginnings. He's the epitome of the "American dream." 

    Blankfein was born in the Bronx. He grew up in Brooklyn in the Linden Housing projects. He shared a small apartment with his extended family, including his grandmother, his sister, and his nephew. 

    His father sorted mail for the post office. He worked the night shift because it paid about 10 percent more than the day shift. His mother worked as a receptionist at a burglar alarm company. Blankfein later joked that it was "one of the few growth industries" in the neighborhood.

    To earn extra money, Blankfein began working as a lifeguard. He also served concessions at Yankee stadium, according to Fortune magazine.

    linden housingBlankfein was a good student. He attended Thomas Jefferson high school, which no longer exists as a high school. 

    He did well because he wanted to succeed. One of his favorite pastimes was, and still is, reading historical biographies. He later said he especially liked biographies about people "who started out unimportant but ended up having a significant life."

    Blankfein, who was a champion swimmer, graduated as his class' valedictorian. He earned a scholarship to Harvard. Leaving for college was the first time Blankfein left New York City.

    College life wasn't easy.

    Blankfein came from a lower-income background compared to many of his peers and he had to work in the cafeteria to makes ends meet. He later said he found college "intimidating" and he felt "insecure." Those feelings made him want to work harder.

    As he became more comfortable at Harvard, Blankfein became even more driven by ambition. he realized that he belonged. He was driven to succeed.

    Blankfein described that sense of ambition to a group of college graduates in 2013.

    "Ambition is your inner voice that tells you you can and should strive to go beyond your circumstances or station in life.  You have overcome obstacles, pressures and self-doubt and you have done it because you have ambition. You want to succeed for your families and yourselves. And there is no more powerful force through which to do that than through education and know how."

    Lloyd Blankfein high school yearbookAfter graduation, Blankfein attended Harvard Law. He practiced for a while, but he wanted to get into finance. 

    He applied to a number of firms, including Goldman Sachs, but was turned away by all of them. He took a different route for getting to Goldman.

    He took a job at J. Aron & Company, a commodity trading firm. It wasn't a very prestigious company. Last summer Blankfein said it was about as prestigious as selling toasters.

    But then J. Aron & Company was acquired by Goldman Sachs, and Blankfein was in.

    During his time at Goldman, he has led the Fixed Income, Currency and Commodities (FICC) division. He also served as president and COO. He became the CEO of Goldman since 2006.

    Of course, with the 2008 financial crisis, there's been a lot of ire directed toward the leaders of major Wall Street investment banks. And for obvious reasons, too. Blankfein is one of two remaining bank CEOs from the crisis. The other, JPMorgan's CEO Jamie Dimon, is also a billionaire when you factor in his ownership of JPMorgan's shares

    Join the conversation about this story »

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    google Larry Page and Sergey Brin

    Google shares are surging to record highs, up nearly 15% as of early Friday afternoon.

    It's the largest one-day rally in the company's history. 

    This is great news for shareholders, especially Google's cofounders, Larry Page and Sergey Brin, who have each added about $4 billion to their already sizable fortunes today. 

    According to Bloomberg, Page and Brin's fortunes are up about 20% in 2015, which is equivalent to about $7 billion each.

    Page's net worth is now estimated by Forbes to be about $35.7 billion, while Brin is worth about $35 billion.

    Google chairman Eric Schmidt, who owns 1.3% of the company, has made about $1.8 billion today as a result of the stock surge. Forbes estimates his net worth at $10.4 billion.

    Google's stock has been soaring since it reported stellar earnings Thursday evening.

    SEE ALSO: Google shares are up an insane 14%

    Join the conversation about this story »

    NOW WATCH: Here's the incredible story behind the guy who was just sentenced to life for creating the 'eBay for drugs'


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    Greekisland5FULL

    Greece has between 1,200 and 6,000 islands, according to a range of different estimates, and there is no definitive answer on how many the Greek government owns.

    What we do know is that dozens of islands are up for sale, and British property agent Knight Frank is predicting a "fire sale" of Greek privately owned islands over the next few years.

    If the Greek government does become desperate, it can also hawk off some of its island assets to help raise the €50 billion (£36 billion, $55 billion) that is needed to appease its creditors.

    On Private Islands Online, some islands are going for as little as €3 million (£2.1 million, $3.3 million). That's less than a house in an upmarket place in London like Chelsea. 

    Check out some of these beautiful islands that a could be easily bought by wealthy investors from Private Islands Online.

    11. Omfori Island — €50 million (£36 million, $55 million).

    Location: Ionian Sea
    Development: Partially Developed
    Size: 1,112.00 acres / 4.5 million square metres

    This partially developed island has only one building: the one you see in the picture. It does, however, have planning permission for someone to build on 20% of the island. Private Islands Online says in the prospectus that if the buyer can prove that it is a good investment to build more properties on the island, the Greek government is likely to grant further permission.



    10. Dulichium Island — €40 million (£28.4 million, $44.1 million).

    Location: Ionian Sea
    Development: Nondeveloped
    Size: 1,335.00 acres / 5.4 million square metres

    This is the largest private island for sale in Greece right now. The highest point on the island is 250 metres above sea level. It has about 4,000 olive trees, shrubs, and dwarf bushes. It is undeveloped but presents an opportunity for someone to turn it in a luxury-hotel resort.



    9. Northern Aegean Island — €35 million (£25.9 million, $38.6 million).

    Location: Chora
    Development: Nondeveloped
    Size: 86.00 acres / 348,029 square metres

    This island is only half an hour away, by speedboat, from Athens. Numerous international developers are already showing an interest, according to Private Islands Online, because of the island's close proximity to the Greek capital.



    See the rest of the story at Business Insider

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    wang jianlin

    Wang Jianlin, a former People’s Liberation Army soldier who is now a real estate mogul and the world’s largest cinema chain operator, is the richest person in China.

    With a fortune of $40.7 billion, he's caught in a riches race with Hong Kong business magnate Li-Ka Shing to become the wealthiest man in Asia.

    From the construction of luxury hotel properties to the purchase of a world-famous football club to his grand plans for the future of entertainment, scroll through to get up to speed on Jianlin's global empire. 

    SEE ALSO: The 25 richest self-made billionaires

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    From 1970 to 1986 Wang served in the Chinese Army. He credits this time for his unwavering perseverance: “Without those years of experience, I probably wouldn’t have had so much anti-stress capability and so firm a determination.”

    Source: Brics Business Magazine



    Wang borrowed $80,000 to get his company Dalian Wanda Group off the ground. He’s been chairman of Wanda Group, now China’s largest real estate developer, since 1988.



    Wanda Hotels and Resorts Co Ltd has opened 71 five star and luxury five star hotels across China to date. Wang has billion dollar investments in properties in Sydney, London, Chicago and Los Angeles. He's on his way to becoming the world's biggest owner of five-star hotels.

    Source: The Economist

     



    See the rest of the story at Business Insider

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    Beirut man

    There are 1826 billionaires in the world and there are some countries that have hundreds of them.

    However, while nations like China may house some of the world's richest people, with 400 billionaires, it doesn't actually have the highest number of billionaires in proportion to the population.

    Approved Index, a UK-based business-networking group, crunched the numbers from Forbes' 2015 billionaire list using this week's data and found that the most billionaire-dense nations across the world are pretty surprising.

    15. Taiwan

    Number of billionaires: 33

    Population: 23,456,545

    Population per one billionaires: 710,804

    Taiwan's billionaires have a combined net worth of $117.1 billion ($75.1 billion) after a boom in its financial services sector and strong trade links with China. Daniel and Richard Tsai are the richest men in the country, with a net worth of $10 billion (£6.4 billion), after assuming leadership of financial services giant Fubon Financial.



    14. Kuwait

    Number of billionaires: 5

    Population: 3,268,431

    Population per one billionaires: 653,686

    Kuwait is the fifth richest country in the world, as measured by GDP per capita, with $70,914 per person. This is mainly because the geographically small country has a relatively open economy with crude oil reserves of about 102 billion barrels, according to Forbes. 



    13. United States

    Number of billionaires: 536

    Population: 321,369,000

    Population per one billionaires: 599,569

    The U.S. houses the largest amount of billionaires in the world and continues to dominate the rankings for the world's richest people. You have Microsoft founder Bill Gates who tops the overall wealthiest people in the world list with a net worth of $79.4 billion (£50.9 billion) and legendary investor Warren Buffett with $67.3 billion (£43.2 billion) at third. It ranks lower in the list though when looking at the number of billionaires per proportion of the population.



    See the rest of the story at Business Insider

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    Screen Shot 2015 07 21 at 10.20.19 AM

    Goldman Sachs CEO Lloyd Blankfein is trying to sell his Sagaponack, New York, estate again — with a 20% markup on its listing in 2012, The Real Deal's Claire Moses reported.

    The freshly minted billionaire put the Parsonage Lane property up for $17 million with Sotheby's International Realty. A sale would reduce Blankfein's $73 million in personal real-estate holdings, Bloomberg reported.

    Blankfein has repeatedly tried to sell the property since 2007, reportedly asking for $14 million for the mansion in 2012.

    This isn't the chief executive's only Hamptons home — in 2012, the CEO bought another house in Bridgehampton worth $32.5 million.

    Blankfein bought the property in 1995 and commissioned architect Larry Randolf and builders Men at Work to complete the mansion in 2001. The property has seven bedrooms, five full baths, a heated pool and tennis courts, according to the real-estate listing.

    Meanwhile — as Blankfein tries to sell the property — take a look around.

    Welcome to Lloyd Blankfein's summer home in the South Hamptons — priced at $17 million. Architects capped off the romantic estate with a barn-style roof.



    The front doors open into a simple foyer. Light streams in from floor-to-ceiling windows on nearly every wall.



    Take a seat in the summery, beige and cream-colored classic living room.



    See the rest of the story at Business Insider

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    jeff bezos

    Amazon's stock is up nearly 18% after hours after the company reported a surprise profit for the second quarter. 

    The stock spike sent CEO Jeff Bezos' personal net worth soaring by about $7 billion.

    Bezos owns 83,921,121 Amazon shares, according to CNBC.

    His net worth is now estimated at $50 billion.

    Amazon reported a net income of $92 million, or 19 cents a share. Analysts were expecting the ecommerce giant to post a loss of 14 cents a share. At this time last year, Amazon lost 27 cents per share. 

    SEE ALSO: Here's how Amazon generated the surprise Q2 profit that sent its stock soaring

    Join the conversation about this story »

    NOW WATCH: Here's how much you have to buy to make Amazon Prime worth it


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    eric schmidt montecito

    With an estimated net worth of $10.2 billion, Google chairman Eric Schmidt can certainly afford a splurge or two.

    Schmidt is known for leading a pretty fabulous lifestyle, packed with models and parties on his $72 million yacht, "Oasis."

    Schmidt has also amassed an impressive collection of properties over the years, from his primary residence in ritzy Atherton, California, to his New York City penthouse.

    SEE ALSO: A former Google engineer sold his gorgeous Brooklyn mansion for $12.4 million

    Schmidt's primary residence is a five-bedroom home in Atherton, California, an affluent city in the heart of Silicon Valley. He purchased the home for $2 million in 1990, but it's worth about $6.97 million today, according to estimates by the real-estate tracker Zillow.

    Source: Zillow



    The mansion has more than 4,800 square feet of space and a swimming pool.



    But that's not the only California property Schmidt owns. He bought this 7,000-square-foot home in Montecito, California, from Ellen DeGeneres and Portia de Rossi in 2007. The reported price was $20 million.

    Source: Business Insider



    See the rest of the story at Business Insider

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    David Rubenstein

    Billionaire private-equity CEO David Rubenstein, the cofounder of Carlyle Group, explained on "Wall Street Week" on Sunday how growing up wealthy could put someone at a disadvantage.

    Here's a transcript:

    One of the complicating things of life if you're successful is — 'What about your children?'

    My wife and I have three children. They've grown up in what you could call an 'advantaged' upbringing. I grew up in what could've been called a 'disadvantaged' upbringing. But actually, in hindsight, it was extremely advantaged. Because if you have the unconditional love of two parents and they let you try to do whatever you want to do, you don't need money to be successful.

    When you grow up in a wealthy family, it's much much harder to feel that what you've achieved is on your own. And it's much much harder for people to think that what you've achieved is on your own. So my children have a bit of a disadvantage — yes, they have money and they have a good education and so forth — but they have to achieve things on their own. And it's a much harder thing for them to do that. And so I try to let them succeed on their own. But it's very difficult for a parent to want to just say to their child, 'Do what you can and I'm not going to help you.' Because you want to help your child, but you want the child to be independent and strong enough so they can achieve on their own.

    Rubenstein, 65, grew up in what he described as a "blue-collar environment" in Baltimore.

    His father was a post-office worker and his mom was a housewife. Neither of his parents graduated from high school.

    Rubenstein worked hard in school so he could earn a college scholarship. After college, he attended law school.

    Before launching Carlyle at age 37, Rubenstein worked in a corporate law office and then for the US government as a domestic-policy adviser. Today he co-runs one of the world's largest and most successful private-equity funds. He has an estimated net worth of $2.9 billion.

    On the show, he noted that his parents wanted him to do whatever would make him happy.

    Rubenstein said the only legacy most people would leave is their children. As a parent, he said, you want to make sure your kids are a "great legacy," meaning you want them to be happy and do something productive in life. Part of that requires giving your children unconditional love. That's the real key for creating success.

    "Warren Buffett said to me once he had the advantage of having two parents who gave him unconditional love, and that is what he thought was the most important thing that made him successful," Rubenstein said.

    Watch the full episode at WallStreetWeek.com>

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    larry ellison musashi yacht

    When it comes to buying a yacht, bigger is always better.

    Megayachts belonging to tech billionaires 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 nestled inside.

    We've ranked the biggest yachts owned by executives in tech. 

    SEE ALSO: How to buy a superyacht like you're Larry Page or Mark Cuban

    #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 regularly charters. Rates start at $80,000 a week.

    Source: Yacht Charter Fleet, Virgin Limited Edition



    #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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