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The latest news on Billionaires from Business Insider

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    Mark Zuckerberg

    Bill Gates is once again the richest man in the world, adding another $10.6 billion to his net worth in the past year. Not a bad haul, but four other billionaires actually outearned Gates in the past year. 

    Using data from the Bloomberg Billionaires Index, which recently relaunched and expanded online to include 500 billionaires across the globe, Business Insider ranked which of the 30 richest billionaires in the world gained the most wealth in the past year.

    Bloomberg's ranking updates daily to provide up-to-the-minute data on the world's wealthiest men and women, but for this ranking, wealth figures were used for the period starting February 28, 2016 and ending March 1, 2017. You can read about the billionaire index's full methodology here.

    The two biggest gainers in the past year were Wang Wei, who added $22.7 billion to his fortune as the founder and majority owner of China's largest package delivery company, and Amazon.com CEO Jeff Bezos, who boosted his fortune by $21.9 billion thanks to Amazon's strong performance. 

    From tech moguls to skilled investors to retail giants, read on for the 15 billionaires whose wealth grew the most in the past year. 

    Note that Bloomberg does not report the net worth of its founder and owner Michael Bloomberg, who does not appear on this ranking, though other sources peg his fortune at roughly $45 billion

    SEE ALSO: The 50 best places to live in America

    DON'T MISS: The 22 best places to live in America if you want to make a lot of money

    14. TIE: Sergey Brin

    Net worth:$41.6 billion

    Net worth increase: $4.1 billion

    Age: 43

    Country: US

    Industry: Technology

    Source of wealth: Self-made; Google

    Along with cofounder Larry Page, Sergey Brin helped facilitate Google's massive restructuring, which the company announced in 2015. The move put Google under the auspices of a holding company called Alphabet, run by Brin as president and Page as CEO. Google's other ventures, such as Nest and Google X, are separate companies also under the Alphabet umbrella. 

    The restructuring allowed Brin to focus on exploring inventive new "moonshot" projects and ideas. With top talent and an abundance of resources at its disposal, Alphabet has already made automated homes and self-driving cars a reality.

    Brin, who emigrated from Moscow to the US as a child, connected with Page in 1995 at Stanford, where they were each pursuing a PhD. Three years later they founded Google, now one of the most powerful companies on the planet.



    14. TIE: Li Ka-shing

    Net worth:$30.6 billion

    Net worth increase: $4.1 billion

    Age: 88

    Country: Hong Kong

    Industry: Diversified investments

    Source of wealth: Self-made; CK Hutchison Holdings

    Despite humble beginnings, business magnate Li Ka-shing has become the wealthiest man in Hong Kong. After his father died of tuberculosis, Li dropped out of school at 16 to support his family, working in a factory making plastic flowers. Six years later, he opened his own factory, the predecessor to what's known today as CK Hutchison Holdings, a vast business empire with interests in real estate, manufacturing, energy, telecommunications, and technology.

    A savvy investor, Li and his venture-capital fund Horizon Ventures have backed companies like Facebook, Skype, Spotify, and the egg-replacement food startup Hampton Creek.

    Two years ago, Li reorganized his business affairs under two new listed companies, one entity for property holdings and another for all other global assets. The move is most likely in preparation to hand over control of his sprawling fortune to his son, but the 88-year-old doesn't have any plans of slowing down just yet. In August 2015, he opened the 12,000th location of AS Watson, CK Hutchison's health and beauty-products retailer, now the largest in the world. Li's net worth rose by $4.1 billion over the past year.



    13. Larry Page

    Net worth:$42.5 billion

    Net worth increase: $4.3 billion

    Age: 43

    Country: US

    Industry: Technology

    Source of wealth: Self-made; Google

    As a Stanford PhD student in 1998, Larry Page teamed up with classmate Sergey Brin to create BackRub, an early search engine. The project eventually morphed into Google — now called Alphabet — one of the largest and farthest-reaching companies in the world, worth more than $581 billion. Over the past year, Page's personal net worth has increased by $4.3 billion.

    Page oversaw major changes to Google's business structure in 2015, starting with the creation of Alphabet, the holding company that manages Google and all of its related ventures, including Nest, Calico, and Google X. Previously the chief executive of Google, Page moved up to helm Alphabet, which has its hands in everything from home automation to self-driving carsto prolonging human life. 

    Page doesn't make a lot of splashy purchases, but the alternative-energy advocate does own an eco-friendly mansion in Palo Alto that uses geothermal energy and rainwater capture. He's also an avid kiteboarder.

    roducts retailer, now the largest in the world. Li's net worth rose by $4.1 billion over the past year.



    See the rest of the story at Business Insider

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    Mark Zuckerberg

    One-third of the 500 billionaires on the recently relaunched Bloomberg Billionaires Index— including the top three — hail from the US.

    The 18 richest — culled from the global top 30— are worth an astounding $793 billion — more than the annual GDP of the Netherlands, Turkey, or Switzerland.

    The two richest people in America are no surprise: Bill Gates and Warren Buffett maintain their lead at the top despite being the two most generous people on earth. But US tech moguls continue to creep toward the very top. Heavyweights like Jeff Bezos of Amazon and Mark Zuckerberg of Facebook add billions to their net worths each year as their powerful companies continue to grow in value and influence.

    Not everyone is an entrepreneur though. Inherited wealth has kept a hefty portion of the country's cash in the hands of a few families, as the Koch brothers, the Waltons of Walmart, and the heirs to the Mars candy conglomerate each rank among the wealthiest.

    Read on to learn more about the richest people in America.

    Note that Bloomberg does not report the net worth of its founder and owner Michael Bloomberg, who does not appear on this ranking, though other sources peg his fortune at roughly $45 billion.

    SEE ALSO: The 30 richest people on earth

    DON'T MISS: The 22 best places to live in America if you want to make a lot of money

    18. Phil Knight

    Net worth:$25 billion

    Age: 78

    Country: US

    Industry: Retail

    Source of wealth: Self-made; Nike

    After a stint in the US Army, and with a Stanford MBA under his belt, Phil Knight convinced Tiger-brand shoemaker Onitsuka in the early 1960s to allow him to distribute Tiger shoes under the name Blue Ribbon Sports — the name Knight picked that predated his swoosh-logo-clad company Nike. Knight worked full-time as an accountant as he launched his new brand, and by 1968 he had built up enough of a rapport with customers that he was able to leave the CPA life behind. Knight now serves as chairman emeritus of Nike.

    Nike has built its success on celebrity and athlete endorsement deals, starting with running prodigy Steve Prefontaine in 1973 and continuing with one of the most successful shoe marketers of all time in Michael Jordan, whom Nike signed to a five-year endorsement deal in 1984 worth roughly $500,000 per year. The biggest NBA star today is still under the Nike roof, with LeBron James signing a lifetime contract with the brand in 2015 reportedly in excess of $1 billion.

    Knight's wealth has decreased by $1 billion over the last year.



    17. George Soros

    Net worth: $25.2 billion

    Age: 86

    Country: US

    Industry: Hedge funds

    Source of wealth: Self-made; Soros Fund Management

    Born in Budapest, George Soroslived through the Nazi occupation of Hungary during WWII before fleeing to the UK and later settling in the US. Touted as "the man who broke the bank of England," he's best known for the Quantum Fund, a hedge fund he launched in 1973 under his Soros Fund Management company. In 1992 he shorted the British pound, a risky move that ended up earning the fund $1 billion in a single day and solidifying Soros' place in the finance world. Quantum Fund also generated annual returns over 30% under Soros' leadership, making it one of the most successful hedge funds of all time.

    Today, Soros remains chairman of Soros Fund Management, which manages more than $25 billion in assets, including stakes in prominent companies like Amazon, Facebook, and Netflix. He's also chairman of Open Society, an organization he founded in 1979 that operates as a network of foundations and partners across the globe that promote the values of open society and human rights.

    Soros' wealth decreased by $800 million over the last year.



    16. Steve Ballmer

    Net worth:$27 billion

    Age: 60

    Country: US

    Industry: Tech

    Source of wealth: Self-made; Microsoft

    Steve Ballmer dropped out of business school at Stanford in 1980 to join Harvard friend Bill Gates at Microsoft as the company's first business manager, earning a $50,000 salary and a stake in the company. During his tenure, Ballmer held positions as vice president of marketing, vice president of systems software, and executive vice president of sales and support, and was often referred to as "the numbers guy."

    He became CEO of the company in 2000 after Gates stepped down, and he remained in charge of the software giant until Satya Nadella replaced him in 2014. While running Microsoft, the company's revenue grew by 294% and profits by 181% — although its market share was surpassed by Google and Apple during the same period. Still, the early stake Ballmer acquired in the company made him immensely wealthy. 

    After stepping down as CEO, Ballmer fulfilled his dream of owning an NBA franchise, paying $2 billion in a deal to buy the Los Angeles Clippers, now his main venture. 

    Ballmer's net worth has increased $4.8 billion in the last year.



    See the rest of the story at Business Insider

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    jack ma

    Nearly a third of the 30 richest billionaires on the recently relaunched Bloomberg Billionaires Index have one major thing in common: They earned their fortunes in technology. 

    That includes Microsoft founder Bill Gates, who retains his title as the richest man in the world, as well as Amazon's Jeff Bezos and Facebook's Mark Zuckerberg. Though US moguls dominate the world of tech billionaires, China's Jack Ma of Alibaba and Pony Ma of Tencent also earn spots in the top nine. 

    Tech money proves to be hard-earned as well: All nine of the richest billionaires are self-made, thanks to the powerful companies they built themselves, including Facebook, Microsoft, and Google.

    For the ranking, Business Insider culled data from the Bloomberg Billionaires Index as of March 1, when the index relaunched in its expanded format. The index updates daily to provide up-to-the-minute data on the world's wealthiest men and women. You can read the full methodology here.

    Below, read on to see the nine richest billionaires who made their fortunes in tech.

    SEE ALSO: The 30 richest people on earth

    DON'T MISS: The 18 richest people in America

    9. Ma Huateng

    Net worth:$22.5 billion

    Age: 45

    Country: China

    Industry: Technology

    Source of wealth: Self-made; Tencent Holdings

    Software engineer Ma Huateng (aka Pony Ma) founded China's largest internet portal, Tencent Holdings, in 1998. He was 26. Ma's company has a number of successful and widely used platforms in its portfolio, including QQ, its instant-messaging service, which is one of the world's 10 largest websites; a mobile-texting service (WeChat) with over 800 million users; a mobile-commerce product (WeChat Wallet); and an online-gaming community (Tencent Games), the largest in China.

    Ma's wealth has increased by $4.7 billion in the past year.



    8. Steve Ballmer

    Net worth:$27 billion

    Age: 60

    Country: US

    Industry: Technology

    Source of wealth: Self-made; Microsoft

    Steve Ballmer dropped out of business school at Stanford in 1980 to join Harvard friend Bill Gates at Microsoft as the company's first business manager, earning a $50,000 salary and a stake in the company. During his tenure, Ballmer held positions as vice president of marketing, vice president of systems software, and executive vice president of sales and support, and was often referred to as "the numbers guy."

    He became CEO of the company in 2000 after Gates stepped down, and he remained in charge of the software giant until Satya Nadella replaced him in 2014. While running Microsoft, the company's revenue grew by 294% and profits by 181% — although its market share was surpassed by Google and Apple during the same period. Still, the early stake Ballmer acquired in the company made him immensely wealthy. 

    After stepping down as CEO, Ballmer fulfilled his dream of owning an NBA franchise, paying $2 billion in a deal to buy the Los Angeles Clippers, now his main venture. 

    Ballmer's net worth has increased $4.8 billion in the last year.



    7. Jack Ma

    Net worth: $35.7 billion

    Age: 52

    Country: China

    Industry: Technology

    Source of wealth: Self-made; Alibaba

    The richest person in China, Alibaba founder and executive chairman Jack Ma reportedly started China's first internet company in 1988: China Yellowpages. He lost control of that company to a state-owned telecom in 1996 and started Alibaba three years later with just $60,000. Fifteen years after its inception, the e-commerce company broke records with a $25 billion initial public offering— the world's largest ever.

    Post-IPO, however, Alibaba's good fortune began to slip. The company's shares dropped 22% in 2015, most likely because of China's slowing economy and concerns over counterfeiters using the company's platform. Ma didn't worry, though. He acknowledged that 2016 would be a trying time for the Chinese economy, but remained confident in Alibaba's long-term success.

    Ma's wealth has increased by $8.4 billion over the past year. 



    See the rest of the story at Business Insider

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    jack ma

    Not all billion-dollar fortunes are created equal. Some of the world's richest inherit their vast sums of wealth from their family — others build from scratch.

    Of the 30 richest people on earth, 23 fall into the latter camp. Together, their combined net worth eclipses $1 trillion.

    That's according to the Bloomberg Billionaires Index, which recently relaunched and expanded online to include 500 billionaires across the globe. 

    For the ranking, Business Insider culled data from the Bloomberg Billionaires Index as of March 1, when the index relaunched in its expanded format. The index updates daily to provide up-to-the-minute data on the world's wealthiest men and women. You can read the full methodology here.

    These business magnates faced adversity, overturned industries, and bucked trends to build some of today's most powerful companies and recognizable brands across technology, real estate, and retail.

    From the founders of Microsoft and Google to China's tech barons to "The Oracle of Omaha" himself, here are the world's wealthiest self-made billionaires.

    Note that Bloomberg does not report the net worth of its founder and owner Michael Bloomberg, who does not appear on this ranking, though other sources peg his fortune at roughly $45 billion.

    SEE ALSO: 15 mega-billionaires who made a fortune last year

    DON'T MISS: The 18 richest people in America

    23. Ma Huateng

    Net worth:$22.5 billion

    Age: 45

    Country: China

    Industry: Technology

    Source of wealth: Self-made; Tencent Holdings

    Software engineer Ma Huateng (aka Pony Ma) founded China's largest internet portal, Tencent Holdings, in 1998. He was 26. Ma's company has a number of successful and widely used platforms in its portfolio, including QQ, its instant-messaging service, which is one of the world's 10 largest websites; a mobile-texting service (WeChat) with over 800 million users; a mobile-commerce product (WeChat Wallet); and an online-gaming community (Tencent Games), the largest in China.

    Ma's wealth has increased by $4.7 billion in the past year.



    22. Phil Knight

    Net worth:$25 billion

    Age: 78

    Country: US

    Industry: Retail

    Source of wealth: Self-made; Nike

    After a stint in the US Army, and with a Stanford MBA under his belt, Phil Knight convinced Tiger-brand shoemaker Onitsuka in the early 1960s to allow him to distribute Tiger shoes under the name Blue Ribbon Sports — the name Knight picked that predated his swoosh-logo-clad company Nike. Knight worked full-time as an accountant as he launched his new brand, and by 1968 he had built up enough of a rapport with customers that he was able to leave the CPA life behind. Knight now serves as chairman emeritus of Nike.

    Nike has built its success on celebrity and athlete endorsement deals, starting with running prodigy Steve Prefontaine in 1973 and continuing with one of the most successful shoe marketers of all time in Michael Jordan, whom Nike signed to a five-year endorsement deal in 1984 worth roughly $500,000 per year. The biggest NBA star today is still under the Nike roof, with LeBron James signing a lifetime contract with the brand in 2015 reportedly in excess of $1 billion.

    Knight's wealth has decreased by $1 billion over the last year.



    21. George Soros

    Net worth: $25.2 billion

    Age: 86

    Country: US

    Industry: Hedge funds

    Source of wealth: Self-made; Soros Fund Management

    Born in Budapest, George Soroslived through the Nazi occupation of Hungary during WWII before fleeing to the UK and later settling in the US. Touted as "the man who broke the bank of England," he's best known for the Quantum Fund, a hedge fund he launched in 1973 under his Soros Fund Management company. In 1992 he shorted the British pound, a risky move that ended up earning the fund $1 billion in a single day and solidifying Soros' place in the finance world. Quantum Fund also generated annual returns over 30% under Soros' leadership, making it one of the most successful hedge funds of all time.

    Today, Soros remains chairman of Soros Fund Management, which manages more than $25 billion in assets, including stakes in prominent companies like Amazon, Facebook, and Netflix. He's also chairman of Open Society, an organization he founded in 1979 that operates as a network of foundations and partners across the globe that promote the values of open society and human rights.

    Soros' wealth decreased by $800 million over the last year.



    See the rest of the story at Business Insider

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    green family1

    There are 88 self-made female billionaires across the world with a combined wealth of $194 billion, according to a list from the "Hurun Global Rich List 2017 series."

    The Hurun Report, which was established as a research unit in 1999 by British accountant Rupert Hoogewerf, found that a majority of self-made female billionaires come from China, with 56 individuals while the US was in second place with 15. 

    "For every one self-made woman billionaire we found, we have missed at least one if not more, so you can bet your bottom dollar that the real number of self-made women dollar billionaires in the world is no less than 200 today," said Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, in a statement. 

    So Business Insider decided to take a look at just the top 9 self-made female billionaires. All valuations are accurate as of January 15, 2017. 

    9. Peggy Cherng & husband Andrew Cherng — Net worth $4.4 billion. Cherng and her husband found their fortune through Panda Express in the US, which is now one of the world's largest family-owned restaurant chains.



    8. Zhang Yin — Net worth $4.5 billion. The 60-year-old founded her massive company Nine Dragons Paper, which originated from building a big scrap paper trading business out of California before creating her own factories in China.



    7. Wu Yajun— Net worth $4.6 billion. The 53-year-old from China started her career as a journalist but became incredibly wealthy after founding her real estate brand Longfor.



    See the rest of the story at Business Insider

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    Bill Gates is once again the richest man in the world, adding another $10.6 billion to his net worth in the past year. Not a bad haul, but four other billionaires actually outearned Gates in the past year

    Join the conversation about this story »


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    Wu Yan hakim1

    China is a hub for female billionaires and boasts the largest amount of self-made ones with 56 in total, according to the "Hurun Global Rich List 2017 series."

    The Hurun Report, which was established as a research unit in 1999 by British accountant Rupert Hoogewerf, found that China also created a glut of female billionaires under the age of 50.

    "There can be no question anymore that China is the best place in the world to be a woman entrepreneur," said Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report.

    "The question I am often asked is ‘Why is China producing so many of the world’s most successful women in business?’ There is no Chinese in the Top 10 of the world’s self-made billionaire men, yet 6 of the Top 10 world’s self-made women billionaires are from China. The one-child policy coupled with traditional childcare, whereby grandparents often play a much larger role in bringing up the children than in developed countries, is perhaps a reason. Another is the business boom this generation has enjoyed in China."

    Check out who made the list for the youngest self-made female billionaires in the world:

    9. Sheryl Sandberg — Net worth $1.7 billion. The Facebook chief operating officer has made her fortune as one of the most powerful women in tech and is an activist for getting more women into work.



    T=5. Peng Lei — Net worth $1.4 billion. As one of the founders of the Chinese e-commerce business giant Alibaba Group, she is extremely wealth at just 44-years-old.



    T=5. Bu Yang — Net worth $1.4 billion. The 44-year-old's wealth is self-made by her holding in one China's largest appliance retailers Suning Global.



    See the rest of the story at Business Insider

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    Charleston mansions along water

    We've given you a glimpse into the fabulous lives of the super rich— and noted some of the outrageous things they can buy with their billions — but perhaps more representative of their extravagant lives are their lavish homes.

    Thanks to CNBC's show "Secret Lives of the Super Rich,"and Luxury Listing's new Instagram account, we get a peek into how the super rich live. 

    We sorted through CNBC's Instagram account, @cnbcsuperrich and @luxlistingsnyc, and gathered pictures of some of the poshest homes out there.

    Dare to dream!

    This is an update of a post originally published by Kathleen Elkins.

    SEE ALSO: The 15 countries with the most billionaires

    Their penthouses look like something from the future.

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    There's no need to travel to the real Arc de Triomphe when your patio looks like this.

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    If the infinity pool or Jacuzzi get boring, the Atlantic is just a few strides away.

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    See the rest of the story at Business Insider

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    Monaco on the 29th June 2012 - Port Hercule  International Jumping of Monte Carlo  Amancio Ortega attends the International Jumping of Monte Carlo.

    LONDON — The billionaire fashion tycoon Amancio Ortega is set to earn a €1.2 billion (£1 billion) from the company he created, which owns brands like Zara, Pull & Bear, Bershka, and Massimo Dutti.

    Inditex announced on Wednesday that it would pay out a dividend of €0.68 per share, 13.3% up on the year previous after a record set of results. The Guardian reported that this will see Ortega net €1.2 billion, thanks to his 60% shareholding in Inditex through two family companies.

    Ortega, 80, is worth $72.2 billion (£58.8 billion) according to Forbes and is Europe's wealthiest man. He is the fourth richest man in the world, behind only Bill Gates, Warren Buffett, and Jeff Bezos. The Guardian says Ortega has netted over €6 billion (£5.2 billion) in dividends from Inditex since 2010 alone.

    Spaniard Ortega's best-known venture is High Street fashion retailer Zara. He is a notoriously reclusive billionaire and began his working life at aged 13 or 14 as a messenger boy in a shop, working his way up to found Zara in the Northern Spanish city of A Coruña in 1975 when he was 40.

    Inditex was set up in 1985 as a parent company for Zara to help manage its expansion. Inditex had sales of €23.3
    billion (£20.3 billion) in 2016 and made a net profit of €3.2 billion (£2.8 billion). The group employs 162,450 people.

     

    Join the conversation about this story »

    NOW WATCH: How billionaire hedge fund titan Steve Cohen walked away from the biggest insider trading scandal in history


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    mark cuban

    When we talk about a "successful" person, we're typically talking about someone who's got billions in their bank account, someone who's authored multiple bestsellers, or maybe someone who's in charge of an entire nation.

    But if you ask people who fit the conventional definition of a successful individual, many will tell you that those achievements aren't what make them feel accomplished.

    Below, Business Insider has rounded up what some of the world's most powerful and impressive people — from President Barack Obama to the late author Maya Angelou — have to say about success.

    SEE ALSO: 14 changes to make in your 30s that will set you up for lifelong success

    Billionaire Richard Branson believes success is about happiness.

    Though Sir Richard Branson, founder of the Virgin Group, is worth some $5 billion, the Virgin founder equates success with personal fulfillment.

    "Too many people measure how successful they are by how much money they make or the people that they associate with,"he wrote on LinkedIn. "In my opinion, true success should be measured by how happy you are."



    Huffington Post co-founder Arianna Huffington says that money and power aren't enough.

    Huffington says that while we tend to think of success along two metrics — money and power — we need to add a third.

    "To live the lives we truly want and deserve, and not just the lives we settle for, we need a Third Metric,"she told Forbes' Dan Schawbel, "a third measure of success that goes beyond the two metrics of money and power, and consists of four pillars: well-being, wisdom, wonder, and giving."

    Together, those factors help you to take care of your psychological life and truly be successful, or as the title of her 2014 book, "Thrive," suggests.



    Billionaire investor Mark Cuban says you don't need money to be successful.

    "Shark Tank" regular Cuban offers a surprisingly simple take on success.

    In an interview with Steiner Sports, he said:

    "To me, the definition of success is waking up in the morning with a smile on your face, knowing it's going to be a great day. I was happy and felt like I was successful when I was poor, living six guys in a three-bedroom apartment, sleeping on the floor."



    See the rest of the story at Business Insider

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    Douglas Burdge and his team of designers have built more than 300 homes in the Malibu, California, area, many of them for celebrities, entertainment execs, and Fortune 500 CEOs.

    Over the years, their projects have varied in style from hacienda-style to contemporary, with lots of modern, clean lines. 

    These days, regardless of the home's overall style, Burdge says, it seems that many of his clients are looking to add the same amenity, one that would make their new house more like a five-star hotel: a spa and health club.

    home spawellness center

    "The reasoning is that a lot of people can't go to gyms because of their celebrity status, or maybe there isn't one close by," Burdge recently said to Business Insider. The architect has also worked on homes in the similarly ritzy enclaves of Sun Valley, Idaho, and Los Cabos, Mexico. 

    When it comes to building out a home spa, Burdge's clients are looking for the full slate of perks, from indoor pools, saunas, and steamrooms to massage rooms and hair wash sinks. The firm partnered with an Italian design group and toured boutique spas in Italy to achieve its signature look.

    "We have a mentality of not just building a spa or a steam room, but creating the whole environment," Burdge said. "We design our houses so that you feel like you're staying in a hotel."

    in home spain-home spain-home spa

    The best place for these ritzy home spas is often the basement, where square footage usually isn't as heavily regulated in local building codes.

    "It's even better if you have geology that allows you to build really deep," Burdge said. 

    His team of architects will often incorporate design elements that mimic natural lighting, like an LED fixture that looks like a skylight in the ceiling.

    in-home spa

    Even for those wealthy clients who don't have spas at the top of their list of priorities, the basement is a place where homeowners can build more creatively. Some people will add an extensive wine cellar, extra bedroom, or a game room. 

    Or, they might use it for something a bit more over-the-top. Burdge mentioned a 12,000-square-foot home that his firm is working on in the Palisades. 

    "We're building a car lift that will take you down to a car collection in the garage below." 

    SEE ALSO: Live like a Russian billionaire in this over-the-top Long Island mansion, which is back on the market for $85 million

    Join the conversation about this story »

    NOW WATCH: Ellen DeGeneres is selling her Santa Barbara mansion for $45 million — take a look inside


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    harold hamm

    Forbes has published the latest edition of its global list of billionaires, featuring 565 from the U.S., which made the country the top generator of billionaires again. Figures from the IT and finance industries took the tops spots, as has become usual, but the oil and gas industry seems to be doing well, too, with more than a dozen entries from Texas alone.

    The top-100 of this year’s more than 2000-name list saw three entries from the U.S. oil and gas industry – Continental Resources’ Harold Hamm with a net worth estimated at $13 billion, at #87; and brothers Charles and David Koch, each worth $48.3 billion and sharing the number 8 spot.

    Among the Texan entries, the highest place was occupied by Richard Kinder of Kinder Morgan, who ranked 194th, with his net worth up 33 percent from last year to $7.1 billion. Kinder Morgan also did pretty well in 2016, reporting a healthy increase in net profits to $721 million from $208 million in 2016.

    At #261, Forbes ranked the heirs of another pipeline mogul, Dan Duncan of Enterprise Pipeline Partners. The four siblings saw their net worth rise to $5.7 billion this year, while the company their father founded reported a slight decline in net profit for 2016 at $2.553 billion, from $2.558 billion for 2015.

    Ray Lee Hunt, the heir of H. L. Hunt, ranked $339th, with a net worth of $4.7 billion. Hunt is the chairman of Hunt Consolidated, which spans across industries including oil, utilities, real estate, and investment. The oil business, Hunt Oil, is among the largest private energy companies in the U.S.

    Kelcy Warren, the co-founder of Energy Transfer Partners, was another entry from the pipeline industry, at #367 with a net worth of $4.3 billion. Energy Transfer Partners has been in the media spotlight recently because of its Dakota Access project, which led to months of protests. The pipeline has already started transporting oil from Bakken.

    Jeffery Hildbrand of Hilcorp Energy ranked 402nd, with a net worth of $4.3 billion. The company itself ranked 41st on Fortune’s list of best employers this year.

    The next entry from Houston, John Arnold from Centaurus Energy Advisors, came in at #660 with a net worth of $3 billion. Arnold, a legend in energy trading, warned back in 2015 that half the U.S. oil and gas industry could go bankrupt in 2016 if oil prices did not recover.

    George Bishop, the low-profile CEO of GeoSouthern Energy, ranked 814th with a net worth of $2.5 billion on Forbes’ list. The company is an independent shale player, which in 2013 struck a $6-billion deal in cash to sell its Eagle Ford assets to Devon Energy – one of the biggest deals in shale oil. According to Forbes, Bishop alone took home $1.5 billion.

    Outside Houston, in the Dallas-Fort Worth area, ten out of 22 billionaires on the Forbes list had ties to the oil industry.

    Overall, the average net worth of the 2,000+ billionaires on the Forbes list was $3.75 billion. Most of the oil industry entries saw their net worth rise last year, too, with the Texan entries having an average net worth of $4.1 billion.

    SEE ALSO: China could be the next big influencer in the Middle East

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    porsche design tower

    For the billionaire who doesn't want to sleep too far from his sports car, the perfect home is now ready for move-in: Miami's Porsche Design Tower.

    The 60-story building on Sunny Isles Beach is the first one in the US by the famed Porsche brand, which chose this Florida real-estate playground to make its mark, in partnership with Dezer Development.

    More importantly, it's also the first building to contain a patented "Dezervator," essentially a drive-in car elevator.

    Only six of the 132 units are still on the market — but that includes the four-level, 17,000-square-foot penthouse that's up for grabs for $32.5 million. That penthouse comes with two private pools and a four-car "sky garage."

    The buyer will be in good company, as at least 22 billionaires have already bought in. Meanwhile, regular units can display up to nine cars, with extra space available for an added purchase price. Other building amenities include a spa, a ballroom, a movie theater, and a game room with race-car simulators.

    The tower celebrated its grand opening March 18 with a performance by Alicia Keys.

    Raisa Bruner contributed reporting to an earlier version of this article.

    SEE ALSO: Miami is a billionaire homebuyer's paradise, and these are some of its most important luxury condos and mansions

    The tower is 60 stories tall, rising 650 feet on the shorefront of Sunny Isles Beach.



    126 of the tower's 132 units have already sold, with an estimated sellout of $840 million.



    There's a large pool on the ground floor, just steps away from the beach.



    See the rest of the story at Business Insider

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    Trump inauguration speech

    WASHINGTON (AP) — Powered by billionaires and corporations, President Donald Trump raised $107 million for his inaugural festivities, documents filed with the Federal Election Commission show, and nearly doubled the record set by President Barack Obama eight years ago.

    After giving $5 million, Las Vegas gaming billionaire Sheldon Adelson and his wife had prime seats for Trump's swearing-in ceremony on Jan. 20 and gained access to a private lunch with the new president and lawmakers at the Capitol.

    Two other casino moguls also gave generously: Phil Ruffin, a close Trump friend, donated $1 million, and Steve Wynn, now chief fundraiser for the Republican Party, gave $729,000 through his Wynn Resorts.

    Health care, energy and beverage companies were among the many businesses giving $250,000 or more.

    The inaugural committee's 510-page filing about its donors is not yet available in a data-downloadable format, and converting it will take days or weeks, according to the FEC.

    The committee doesn't need to publicly disclose how the money was spent.

    In a statement, the inaugural committee said the multi-day event "was one of the most accessible and affordable inaugurations for the public in recent history."

    Trump's inaugural involved less hoopla than others in recent years.

    Trump on inauguration day

    He held three inaugural balls, compared with the 10 that Obama had at his first inaugural. Trump's team shortened its parade to about 90 minutes. The longest parade, with 73 bands and 59 floats, lasted more than 4 1/2 hours, at Dwight Eisenhower's first inauguration in 1953.

    Trump's inaugural team failed to attract the kind of pricey A-list performers who turned out in force for Obama. Trump's headliners included teen singer Jackie Evancho, the Mormon Tabernacle Choir and the Radio City Rockettes. The committee put on a free opening day concert and charged $50 per ticket to two of its balls. The Armed Services Ball was free.

    The slimmed-down affair, which inaugural chairman Tom Barrack said aimed to capture the "soft sensuality" of Washington, raises questions about whether Trump spent the entire record-setting sum. He promised to give any extra money to charity, but didn't specify which ones.

    Trump's $107 million fundraising total is "an awful lot of money — it's roughly what we spent on two," said Steve Kerrigan, who was CEO for Obama's inaugural committee in 2013 and chief of staff in 2009. Kerrigan said the inaugural events may have served as an opportunity for donors who held back during the presidential campaign to try to curry favor by showing support for the incoming president.

    Billionaire investor Paul Singer, for example, gave $1 million after long expressing skepticism about Trump. He's since visited the president at the White House.

    Inaugural officials didn't immediately return requests for comment Tuesday. Their release promised more details about charitable giving at a later date, "when the organization's books are fully closed."

    Trump placed no restrictions on the amount of money that donors could give. Obama limited contributions to $50,000 in 2009 but lifted that cap four years later.

    After raising about $55 million in 2009, Obama used excess funds to help pay for the White House Easter egg roll and other events, his former inaugural committee chief executive officer said.

    For Obama's second inaugural in 2013, his committee raised about $43 million.

    Former President George W. Bush raised $40 million to $42 million for each of his two inaugurations.

    Trump's inaugural committee said it would "identify and evaluate charities that will receive contributions left from the excess monies raised."

    In the past, questions have been raised about Trump's follow-through on his commitments to make charitable donations. For example, he pledged in January 2016 to donate millions to veterans from a highly publicized fundraiser, including $1 million of his own money. Much of that money was distributed in May 2016, after The Washington Post pressed him about whether he had followed through on his promise.

    ___

    Follow Nancy Benac on Twitter at: http://twitter.com/nbenac and Julie Bykowicz at http://twitter.com/bykowicz

    SEE ALSO: Trump slams 'failing' Democrats: 'It is now Hollywood vs. Georgia' in runoff election

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    Cartier Queens Cup polo

    The world's richest people spend much of their time working to earn their fortunes. But they also make time for fun, and that often includes making appearances at some of the world's most exclusive events.

    Wealth-X, a company that conducts research on the ultra-wealthy, recently released its annual billionaire census, which includes the typical social calendar of a high-powered billionaire.

    Here, we've highlighted the 11 events taking place from May to August this year where you're most likely to spot a billionaire.

    We've also included info, provided by Wealth-X, about the billionaires who typically attend these events. From the Cannes Film Festival to Wimbledon to Burning Man, here's where the world's wealthiest spend their free time.

    SEE ALSO: The 18 countries with the most millionaires

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    MAY: Concorso D'Eleganza Villa D'Este

    The Concorso D'Eleganza Villa D'Este is an annual showcase of 50 of the world's most beautiful cars built from the 1920s to the 1980s, held on the shores of Italy's Lake Como.

    The event is sponsored by BMW, which presents one car owner with the Best in Show award every year. In 2013, that honor went to noted American clothing designer Ralph Lauren — who commands a $5.2 billion fortune — for his 1938 Bugatti 57SC Atlantic.



    MAY: Cannes Film Festival

    Entertainment's most talented actors, artists, directors, and producers head to Cannes, France, each May to attend the Cannes Film Festival. The 11-day fête is one of the most significant stages for European cinema, its massive red carpet a symbol of the festival's glamour and prestige.

    Every year, Paul Allen, the Microsoft cofounder with a net worth of $19.6 billion, hosts an exclusive party teeming with celebrities aboard his $150 million, 414-foot yacht named Octopus.



    MAY: Formula One Monaco Grand Prix

    One-third of the Triple Crown of Motorsport, the Monaco Grand Prix is one of the most prestigious auto races in the world, held each May along the French Riviera in Monte Carlo.

    Monaco's royal family is a mainstay at the Formula One world championship, as is Mansour Akram Ojjeh, the CEO of TAG Group, a huge player in luxury aviation and motorsports. Ojjeh, whose fortune stands at nearly $2 billion, invested millions in McLaren Technology and was instrumental in founding the McLaren Formula One team.



    See the rest of the story at Business Insider

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    alexandra andresen

    The INSIDER Summary:

    • At 20 years old, Alexandra Andresen is the youngest billionaire in the world.
    • She's a dressage rider who enjoys traveling when she's not taking care of her horses.


    As a three-time junior dressage riding champion, it's probably safe to say that Alexandra Andresen's preferred mode of transportation is a horse. But as the world's youngest billionaire — she's worth $1.17 billion — she has many more options available to her, from zip lines to luxury air travel.

    Here's what it's like to travel the world as a 20-year-old billionaire.

    Alexandra Andresen is worth $1.17 billion.

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    Her family is known in Norway for Tiedemanns, a tobacco brand, as well as Ferd, an investment company that she now owns 42% of. 



    Her fortune allows for frequent travel.

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    As a dressage rider, most of her Instagram posts feature horses.

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    howard marks corcoran

    Oaktree Capital chairman Howard Marks has brought his eight-bedroom, 4,536-square-foot apartment back to the market.  

    The spread is available at a much lower price point this time around: $27.5 million. 

    It's the third time he's listed the full-floor unit, located at New York's 50 Central Park South and designed by Michael Smith, who also led the 2010 Oval Office makeover.

    Marks, who reportedly paid close to $19 million for the apartment back in 2007, originally listed it in 2012, then again in 2015. He asked $50 million for it both times.

    The luxury condo, which some have dubbed "Versailles in the Sky," has a 92-foot expanse overlooking Central Park. It's one of only 12 large condos located above the Ritz-Carlton, and resident amenities include a private lobby and an on-site gym and spa.

    The apartment is now listed with Deborah Grubman, David Adler, and Paul Albano of Corcoran. 

    Portia Crowe contributed reporting to an earlier version of this article.

    SEE ALSO: Report: 'Trump whisperer' Kellyanne Conway just bought an $8 million DC mansion

    First, here's the floor plan.



    The living room has Venetian plaster walls and German silver floors.



    Each room boasts 10-foot ceilings.



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    Mark Cuban

    Billionaires don't see the world like most others do.

    That's why they're billionaires. They have their own unique habits, traits, principles, and ethics that all place a role into helping them achieve, and retain their wealth.

    The good news? By replicating and mimicking a few of their habits, mentalities and business rules, we can become more and more like them in the business world.

    With that in mind, here are 8 ways that billionaires are different than us and what we can do to become more like them.

    SEE ALSO: 13 habits of self-made millionaires, from a man who spent 5 years studying rich people

    1. They never settle

    Most billionaires would agree that having passion is the most important way to achieve success. As opposed to chasing the money, billionaires opt to chase their dreams. And, they don't waiver when it comes to this because they believe that success will follow as a result.

    "The most common thing I remind people of is to only pursue something you love because a small business is going to be very demanding of your time, your energy — it just eats your life," Sam Adams founder Jim Koch told Business Insider. "And if you're doing something you love, then you will accept and even enjoy that. If you're just doing it to get rich, you're gonna lose heart. I tell everyone, getting rich is life's biggest booby trap. It comes down to what would you rather be, happy or rich? I say do what's gonna make you happy."

    If that doesn't inspire you, then memorize the iconic words from Steve Jobs 2005 Stanford Commencement address:

    "You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle."



    2. They work harder than everyone else but still enjoy life

    Billionaires work hard — sometimes harder than everyone else. In fact, they're known for their insane work ethic.

    "You just have to put in 80 - to 100-hour weeks every week," Elon Musk told Vator. "If other people are putting in 40-hour workweeks and you're putting in 100-hour workweeks, then, even if you're doing the same thing, you know that you will achieve in four months what it takes them a year to achieve."

    Mark Cuban spent all-nighters learning how to code and didn't take a vacation for seven years. Today, that seems to have paid off for Cuban, who appears to enjoy living his life.

    Even though billionaires work hard, and they'll make sacrifices for the short-term because of this, they also don't forget to have fun in order to recharge their batteries, and well, enjoy the fruits of their labor. Just look at Richard Branson. Who wouldn't want that lifestyle?



    3. They keep things simple

    "Don't bother to have a plan at all. All that stuff about planning, throw that out," said Eric Schmidt, former CEO and current executive chairman of Google, in a commencement address at Carnegie Mellon University in 2009. "It seems to me that it's all about opportunity and make your own luck."

    Schmidt may be onto something when he suggests to throw out your plans. If you look at most billionaires, they didn't have complex and massive goals. They had a simple purpose. Henry Ford wanted to make the automobile affordable for everyone. Bill Gates wanted a PC in every home. Jeff Bezos started an online bookstore. Mark Zuckerberg wanted to connect people.

    While these billionaires had a defined purpose — they were simple.

    Additionally, billionaires are also known for constructing simple plans, instead of detailed or elaborate plans. The reason? It makes it easier for them, and their team, to focus on activities that will benefit their business the most.



    See the rest of the story at Business Insider

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    charles chuck feeney

    Billionaire Charles "Chuck" Feeney is remarkable.

    In a story about Feeney's philanthropy, his legacy, and how his experience compares with that of US President-elect Donald Trump, New York Times reporter Jim Dwyer writes about the $8 billion Feeney has given away in his lifetime.

    The billionaire calls it "giving while living."

    Feeney signed over his entire fortune to Atlantic Philanthropies, a collection of private foundations, over three decades ago and kept the funds growing through tech investments in companies like Facebook and Alibaba. None of the 1,000 buildings he has funded bear his name, Dwyer points out.

    "It's more than money. It's satisfaction that you're achieving something that is helpful to people," Feeney said of his giving in video posted on the Atlantic Philanthropies site.

    Now in his 80s, Feeney has left himself with about $2 million worth of wealth to live on — less than 0.001% of the $8 billion he's given away.

    Dwyer's details about how Feeney lived his day-to-day life may be equally remarkable. Feeney:

    • Flew coach until he was 75 years old
    • "... and carried reading materials in a plastic bag"
    • Skipped luxury lunches in New York City in favor of burgers at one of the ubiquitous Upper East Side pubs
    • Rents his home, a San Francisco apartment

    For the average person, or perhaps even the average millionaire, these everyday habits aren't so out of the ordinary. But Feeney is — or was, anyway — a billionaire. Billionaires don't have to fly coach.

    His cramped airplane seats and casual burgers put him squarely in the company of billionaires like investor Warren Buffett, who lives in the Omaha, Nebraska, house he bought for a little over $31,000 in 1958 (Buffett and Feeney have signed The Giving Pledge, the pledge Buffett helped start in which billionaires promise to give more than half of their wealth to philanthropy and charity), and Dish Network chairman Charlie Ergen, who is known for packing a brown-bag lunch every day.

    But they aren't cheap. They're frugal. Spending on things they care the most about — in Feeney's case, philanthropic causes around higher education, public health, human rights, and scientific research — and hardly sparing a dime for the things they don't.

    "I'm not here to tell anyone what to do with their money," Feeney said in the Atlantic Philanthropies video. "You make your money, you do what you want with it. But I think there is an obligation, certainly for the haves, to reach out and to see what they can do."

    Read the full story at the New York Times »

    SEE ALSO: The surprisingly frugal habits of 8 extremely wealthy people

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    beyonce jay z grammys

    Beyonce and Jay Z, already two of the biggest names in music, are officially a billion-dollar couple.

    According to Forbes list of America's Richest Self-Made Women, released on Wednesday, 35-year-old Beyonce Knowles is worth $350 (£270) million. Her Formation World Tour alone grossed a quarter of a billion dollars.

    Meanwhile, a recent Forbes ranking of The Richest in Hop Hop of 2017 revealed that Jay Z's fortune has jumped 30% in the past year to $810 (£625) million, putting the couple's combined net worth at $1.16 billion (£890 million).

    This is partly due to a $200 (£154) million investment from Sprint into his music-streaming service, Tidal, which is now reportedly worth $600 (£463) million — more than 10 times what he paid for the company ($56 (£43) million) two years ago.

    Together, the Knowles-Carters hold "significant equity" in Tidal.

    However, according to Forbes, most of the Jay Z's wealth comes form his entertainment company, Roc Nation, and his Armand de Brignac champagne brand, both of which continue to grow.

    Just last week, Jay Z also signed a new 10-year, $200 (£154) million deal with Live Nation.

    beyonce jay z blue ivy vmas

    The news comes as the couple are preparing to welcome twins to their family this summer.

    They already have a 5-year-old daughter, Blue Ivy.

    Join the conversation about this story »

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