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- 10/30/18--06:23: _This cruise ship is...
- 11/01/18--16:14: _Tech's biggest CEOs...
- 11/03/18--02:34: _These are the 19 co...
- 11/06/18--07:35: _A UN expert said Sa...
- 11/14/18--08:28: _Super rich people a...
- 11/18/18--09:07: _The fabulous life o...
- 11/21/18--07:21: _The president of a ...
- 12/07/18--09:43: _19 crazy facts abou...
- 12/08/18--08:46: _The 25 richest fami...
- 12/09/18--07:54: _A French perfume br...
- The super-rich can now buy permanent homes on a 971-foot long cruise ship for up to $36 million.
- Utopia, which is set to launch in early 2019, is designed to be a floating luxury apartment building.
- The ship will travel to major sporting and cultural events around the globe such as Wimbledon, the Olympics, and Rio de Janeiro'sCarnival.
- 11/03/18--02:34: These are the 19 countries with the most billionaires in the world
- According to the 2018 edition of UBS and the PwC's Billionaires Report, the number of billionaires in the world is very much on the rise.
- There were 2,158 people to join the ultra-rich club last year, up from 1979 in 2016.
- The total wealth among billionaires has also grown from 19% in 2017 to a record total of $8,900 billion.
- In a recent report, UN Special Rapporteur Leilani Farha said San Francisco's homelessness crisis was a "cruel" violation of human rights.
- The city is set to vote on Tuesday on a controversial ballot measure that would tax the city's largest corporations to fund services for the homeless.
- Many billionaires, including Square CEO Jack Dorsey and Zynga co-founder Marc Pincus, have come out against the measure, arguing that it unfairly targets their companies.
- Farha praised Salesforce chairman Marc Benioff's decision to support the tax, arguing that more CEOs should be willing to surrender their wealth to help the homeless.
- Super rich people are paying up to $500,000 to install luxe panic rooms in their homes.
- These bulletproof and blast-proof rooms come with flat-screen TVs, high-end décor, and bars.
- These lavish panic rooms have spiked in popularity as gun violence has picked up.
- Ultra-wealthy private jet owners no longer want the interiors of their aircraft to look like a private jet.
- Instead, they want the inside to resemble their home or office.
- Many of the same materials and colors used in residential interior design, such as composite wood and cooler color tones, are starting to show up in private aviation.
- Private jet owners also want to be able to sleep soundly on their planes, so they're getting custom mattresses and custom bedding to fit their aircraft.
- 12/07/18--09:43: 19 crazy facts about Bill Gates' $127 million mansion (MSFT)
- Welcome to Xanadu 2.0, Bill Gates' massive mansion in Medina, Washington.
- Last valued at $127 million, the mansion has 7 bedrooms and 18.75 bathrooms.
- As you might expect, it's loaded up with lots of little details, from tech gadgetry to eco-friendly design.
- Take a look at the craziest things about Bill Gates' mansion.
- 12/08/18--08:46: The 25 richest families in the world, ranked
- The richest families in the world own billions, possessing $1.1 trillion in wealth collectively, according to Bloomberg.
- This wealth is derived from various industries, including retail, media, agribusiness, technology, and more.
- From the Ferrero family's Nutella fortune to the Walton family's Walmart fortune, here are the 25 richest families in the world.
- A bottle of perfume encrusted with rubies, diamonds, and gold will cost you up to $20 million.
- It's part of a fragrance line from French luxury brand Morreale Paris with bottles that start at $1.5 million and can cost up to $20 million depending on customization of the bottle.
- Each bottle takes more than 35 people up to a year to make and it's marketed for "royals and the .0001%."
For the ultra-wealthy, traveling the world is nothing new — but now they're bringing their luxurious homes along with them.
The richest people in the world can now buy permanent luxury apartments on Utopia, a 971-foot long cruise ship that will travel the world for months at a time and stop for global cultural and sporting events such as the Olympics, Wimbledon, and Carnival in Rio de Janeiro.
The floating residences cost between $4.4 million and $36 million — and many of the largest apartments are already purchased, David Robb, founder and chairman of the Utopia project and Harvard Business School alum, told Business Insider. Utopia is set to launch in early 2019.
"We describe it as the largest private yacht in the world," Robb said. "Cruise ships are built to last approximately 25 to 30 years. We're building Utopia to a 100-year specification. There's nothing like that in the world."
Robb said the team went to great lengths to design open floor plan kitchens so that "someone with a beautiful apartment in New York would say, 'This kitchen looks just like what I have in my luxury apartment,'" he said. "[But] you can look out at the ocean. You can be preparing drinks while you're watching the islands go by outside. "
The ship's 190 apartments come in a variety of sizes and floor plans, ranging from about 1,500 square feet up to 6,200 square feet. Every bedroom has an ocean view, Robb said.
Robb noted that they told their naval architects that they wanted the ship to look "like a gorgeous luxury apartment in Central Park South."
"It has to be elegant and timeless," he added. "We can't be chasing fads because this is going to last a long time. We also told the architects that if it looks like a cruise ship anywhere on the inside, they're all fired."
Entertainment on board the Utopia will include a theater, a nightclub, jazz lounges, a casino, an art gallery, and a putting green. Residents will have plenty of ways to stay fit aboard the ship, including a walking track, a complete gym, multiple swimming pools and a multi-deck waterslide, paddle tennis, and fitness classes.
There will also be a luxury boutique hotel on board with 160 rooms so residents can invite in-laws, children, grandchildren, and other guests on board without having to invest in a larger apartment.
Robb said most of the buyers so far are business people and philanthropically-minded individuals, including artists and fine art collectors.
"I think what [Utopia] does is attract people who want to find something unique that they wouldn't otherwise see in a normal travel experience," Robb said. "You can't buy experiences. They're going to places and doing it in a way they wouldn't otherwise."
Utopia is being created by some of the same team that developed The World, a similar condo cruise ship launched in 2002 that only accepts buyers with at least $10 million in assets, according to Bloomberg. But Robb says Utopia has improved upon The World in terms of design, comfort, and economics for the residents.
Robb said that with Utopia, they've provided "the ultimate answer"for people who want to see the world but don't want to abandon the luxuries and comforts of home.
"That's kind of a revolutionary concept, traveling to remote parts of the world and having all of the infrastructure that you have at home," he said.
Beyond its residential focus, Utopia sets itself apart from traditional cruise ships by traveling the globe in one direction instead of making round trips in and out of ports. The ship will also stay in one port for up to a week as opposed to most cruise ships that stop for fewer than 24 hours.
"The most luxurious way to travel, I think, is to go into the heart of the country, to get out of the big cities and see what the countryside's like and how people really live," Robb said. "That's what we'll be able to do with this kind of itinerary, and that's unique."
October was a rough month for billionaires in the tech sector, who saw their net worth plummet as stocks took a hammering.
According to Bloomberg data, the CEOs and founders of the most popular tech companies "FAANG+BAT" lost $61 billion in October.
The tech-heavy Nasdaq index plunged 9.2%, posting its worst month since the financial crisis.
And among the hardest hit were the "FAANG+BAT" stocks — Facebook (-7.7%), Apple (-3.1%), Amazon (-20.2%) Netflix (-19.3%), Google (-9.8%), Baidu (-16.9%), Alibaba (-13.6%) and Tencent (-14.1% in Hong Kong).
The list below provides details of the estimated net worth of some of tech's richest CEOs and founders:
Reed Hastings — CEO and cofounder of Netflix
Rank on Bloomberg Billionaire's Index: 463
Net worth on October 31: $3.9 billion (-19% from $4.8 billion at the end of September)
Holdings in Netflix: $1.7 billion
Robin Li — CEO and cofounder of Baidu
Rank on Bloomberg Billionaire's Index: 82
Net worth on October 31: $13.6 billion (-16% from $16.1 billion at the end of September)
Holdings in Baidu: $13.4 billion
Laurene Powell Jobs — wife of the late Apple cofounder Steve Jobs
Rank on Bloomberg Billionaire's Index: 35
Net worth on October 31: $21 billion (-3% from $21.6 billion at the end of September)
Holdings in Apple: $8.5 billion
See the rest of the story at Business Insider
The number of billionaires in the world may already have been pretty impressive but it just keeps on growing.
According to the 2018 edition of UBS and the PwC's Billionaires Report, there were 2,158 people to join the ultra-rich club last year, up from 1979 in 2016. Of these, only 11% are women.
The total wealth among billionaires has also grown from 19% in 2017 to a record total of $8,900 billion. China's growth in wealth has been particularly impressive, with a rise of 39% recorded last year, against 12% on the whole of the American continent and 19% in Europe.
Billionaires have on average just over $4.1 billion each. Of the 332 new businesses recorded in 2017, 119 are independent contractors, 89 of which are from China. Among these neo-billionaires, you can find "innovators involved in everything from blockchain and lending to genomics and green energy," according to the study.
These are the 19 countries with the most billionaires in the world, according to UBS and PWC.
According to UBS and PwC, there are now 30 billionaires in Thailand — that's a 43% increase in the number of billionaires since the previous year.
The ranking shows there are currently 32 billionaires in Sweden, which equates to a 3% increase in the quantity of billionaires living there compared with the preceding year.
14. Taiwan (joint with Japan)
Following on from the previous year, Taiwan saw a 13% increase in the number of billionaires living in the country — there are 35 billionaires living there presently.
See the rest of the story at Business Insider
San Francisco billionaires are warring over a controversial ballot measure that would tax the city's largest corporations to fund services for the homeless.
In late October, Salesforce chairman Marc Benioff came out in support of the measure, known as Proposition C, claiming that homelessness was an even bigger threat to his business than a "small tax."
"This crisis reminds us that business does not exist in a bubble," Benioff wrote in a New York Times editorial. "Companies can truly thrive only when our communities succeed as well."
If Prop C is passed on Tuesday, it would raise taxes on gross annual receipts — or total income, before subtracting costs or expenses — for the top 1% of large corporations in San Francisco. These taxes could garner an additional $300 million for programs like mental health services or shelter beds for the homeless. Half of the funds will also go toward the construction and renovation of 4,000 affordable homes.
Both Square CEO Jack Dorsey and Stripe CEO Patrick Collison worry that the proposition unfairly targets businesses that are much smaller than Salesforce.
According to United Nations Special Rapporteur Leilani Farha, the city's lack of taxation is "part of the problem."
In January, Farha went on an unofficial mission to explore homeless encampments in San Francisco and Oakland. There, she encountered disturbing sights of rats digging through mud and streets littered with trash, feces, and discarded needles. The conditions prompted her to label San Francisco's crisis a "human rights violation," equal to some of the poorest parts of Delhi and Mumbai.
"Since I've been rapporteur for the last four years, I've had three experiences that shook me to my core,"Farha told Business Insider. "One of them was in San Francisco."
Because Farha sees housing as a human right, not a commodity, she said it's up to the government to solve the problem. Under international human rights law, governments are required to take reasonable steps to address human rights' need using the "maximum available resources." That includes proper taxation, Farha said.
"Cities and states and national governments have less money than they used to," she said. "They need more money, and the only way they can get more money is through taxation."
"People always say, 'Oh we're going to build our way out of the housing problem,'" she adds. "But it's not always that there isn't [housing] stock. It's that the stock that's available is being eaten up by investors right, left, and center."
Though Farha doesn't point the finger exclusively at tech firms, she does feel they should be willing to surrender a small portion of their wealth.
Benioff's editorial in the Times, she said, was an example of that. "I find it very helpful that he's come out [in support of a homelessness tax]," she said.
While some have criticized the tax as an attempt to throw money at a structural problem, Farha said money is critical to identifying and addressing the root causes of homelessness — namely, a lack of affordable homes.
"Money is part of the equation here," she said. "Political will is part of the equation, too."
Forget penthouse views and rooftop pools. The ultra-wealthy are shelling out up to $500,000 for an unexpected amenity: luxurious panic rooms complete with flat-screen TVs, high-end décor, and even bars.
"Panic rooms have become more popular, particularly in London, especially with international clients from the Middle East and Russia, where they are prevalent," Richard Westell, commercial sales manager for Safe and Bolt Co. and Opulent Safes, companies that make and install safes, vaults, and panic rooms, told Mansion Global. "These people want to replicate what they have in their other houses."
In New York City, some members of the urban elite have built panic rooms into opulent homes such as an $88 million Upper East Side mansion that the New York Times called an "urban fortress." Internationally, Business Insider Australia reported in February 2018 that American billionaire Peter Thiel was building a panic room into his $4.8 million house in New Zealand.
Of course, safety is still paramount in these fancy safe rooms, which are made of blast-proof and bulletproof material. But some have decorated their panic rooms to look like a 1920s speakeasy and or a Ralph Lauren catalog, as Chris Cosban, the owner of New York-based Covert Interiors, which makes luxury panic rooms for the elite of New York City and the Hamptons, told Mansion Global.
These luxurious panic rooms cost between $50,000 and $550,000 for the basic armored room, and more for the furnishings and décor, according to Mansion Global.
Interest in luxe panic rooms has spiked as mass shootings become more and more prevalent, said Chris Acevedo of Panic Room USA, a panic room firm based in Parkland, Florida.
"The volume of our business increases commiserate to the increase in gun violence," he told the site.
After decreasing for years, homicides and suicides that involve guns have been on the rise, according to recent data from the US Centers for Disease Control and Prevention.
DON'T MISS: Russian billionaire Roman Abramovich owns the second-largest yacht in the world and a customized airplane with a 30-person banquet hall — see how else he spends his fortune of at least $11 billion
Michael Dell is once again making headlines as he tries to take his company public again in an unusual and controversial way.
Instead of an IPO, Dell wants to buy the "tracking stock" of VMware for a combo of cash and Dell's stock. The tracking stock was created when Dell bought VMware's majority stakeholder EMC as part of that mega $67 billion deal. VMware is publicly traded and the tracking stock gave EMC investors extra value for their portion of VMware's equity, to encourage them to approve Dell's offer for EMC, which they did.
The tracking stock is also publicly traded, separate from VMware's common stock. Buying the tracking stock with Dell's stock means Dell would instantly become into a public company again, without a traditional IPO.
But this deal initially earned the scorn of multiple hedge fund managers, who say Dell's offer for the tracking stock is too low.Dell has bowed to the pressure and offered investors more money ... a lot more money.
This deal has put Michael Dell back in the bullseye of his old nemesis Carl Icahn, who bought an 8% stake of the tracking stock and had threatened to sue if the offer isn't either dropped or raised. He wanted Dell to triple the offer, though Dell isn't raising his offer that by that much.
With an estimated net worth of $27.5 billion, Dell is one of the wealthiest people in the world. From his early career as one of the youngest CEOs of a Fortune 500 company until today, Dell is used to getting his way.
He was only 23 when his company had its IPO in 1988, and soon he was a billionaire.
Dell lives the extravagant life of a successful businessman as well, complete with all of the private planes, summer homes, and sweet rides you'd expect from a billionaire.
Michael Dell was born on Feb. 23, 1965, in Houston, Texas. He was fascinated with gadgets from a young age — when he was 15, he bought one of the first Apple computers and disassembled it to see if he could put it back together.
Source: Academy of Achievement
When he was in high school, he got a job selling newspaper subscriptions. After figuring out how to target an untapped customer base, he made $18,000 in just one year.
Source: Academy of Achievement
Though he was really only interested in computers, Dell entered the University of Texas at Austin as a pre-med student in 1983. He spent his spare time upgrading PCs and selling them from his dorm room, making $180,000 in his first month of business. Though he never came back for his sophomore year of classes, he returned to his dorm for a photo opp in 1999.
See the rest of the story at Business Insider
If you can afford to buy a private jet, you can likely afford to have it designed exactly how you want it. And these days, ultra-wealthy jet owners want the interiors of their planes to look less like a plane and more like their home or office.
Eric Roth, president of International Jet Interiors, which designs private jet interiors, told Business Insider that his clients want their everyday lifestyle being incorporated into the aircraft, rather than treating the two as something completely separate, as they used to.
"It used to be when you had a private jet, it had to look like a jet, feel like a jet, smell like a jet," Roth said. "So I had a certain lifestyle in Manhattan but when I went to my jet, it felt like my jet. Now, we're seeing those lines being blurred a little bit."
More of his customers are coming to him saying that they like how their home or office feels, and they want to extend that feeling and lifestyle into their aircraft.
"It doesn't stop at the office, it doesn't stop at the home. We're able to extend that general feeling," Roth said.
Some of the same materials and colors currently being used in residential interior design are popping up in the aviation space, he said. Instead of exotic wood veneers, for example, they're transitioning to composite wood veneers, which give a more contemporary look.
"[There's] less grain pattern, much more uniformity in the grain and color, so it becomes more of a backdrop as opposed to the focal point," Roth said.
Jet owners are starting to want cleaner lines and cooler color tones. They want simplicity: fewer details, but "the details that we incorporate must make a statement," Roth said.
They also want to be able to get a good a night's sleep like they do at home. While some jets have separate bedrooms, others have chairs that can be converted into a sleeping arrangement. But Roth says his high-powered clients don't want to feel like they're sleeping on a couch.
"We're creating custom mattresses and custom bedding for them, all to fit their aircraft," Roth said. "So when they do take advantage of these long-range flights — I've got plenty of clients that go to Shanghai or Hong Kong or the Middle East — they want to be well rested."
Some private jet owners have taken luxury to new heights in their aircraft by installing elements such as multimedia theaters, skylights, and heated marble floors.
It shouldn't be too surprising that one of the wealthiest people in the world also has an insanely extravagant home.
It took Gates seven years and $63 million to build his Medina, Washington estate, named "Xanadu 2.0" after the fictional home of Charles Foster Kane, the title character of "Citizen Kane." Medina, a suburb of Seattle, is also home to Bezos, making it home to some of the wealthiest people on the planet.
At 66,000 square feet, the home is absolutely massive, and it's loaded to the brim with high-tech details.
We've rounded up some of Xanadu 2.0's most over-the-top features here.
It's worth at least $127 million today.
It has 7 bedrooms and a whopping 18.75 bathrooms, according to public records.
Half a million board-feet of lumber was needed to complete the project.
The house was built with 500-year-old Douglas fir trees, and 300 construction workers labored on the home — 100 of whom were electricians.
A high-tech sensor system helps guests monitor a room's climate and lighting.
When guests arrive, they're given a pin that interacts with sensors located all over the house. Guests enter their temperature and lighting preferences so that the settings change as they move throughout the home. Speakers hidden behind wallpaper allow music to follow you from room to room.
See the rest of the story at Business Insider
In fact, there are 2,208 billionaire individuals across 72 countries for a combined total of $9.1 trillion, according to Forbes. But what about the world's billionaire families?
Bloomberg ranked the top 25 families with the richest fortunes across the globe — together, they possess $1.1 trillion in wealth from retail industries, media conglomerates, agribusiness companies, tech giants, and more.
Bloomberg determined its ranking based on net worth figures from June 15, 2018. It didn't take into account first-generation fortunes, fortunes controlled by a single heir, or fortunes derived primarily from the state. For the purposes of this list, families who wealth stems from a joint company or enterprise are being considered as a single entry.
From the Ferrero family whose $22.9 billion fortune comes from Nutella to the Walton family whose $151.5 billion fortune comes from Walmart, see below for the 25 richest families in the world, ranked.
SEE ALSO: The 25 richest American families, ranked
DON'T MISS: The 10 richest royal families in Europe, ranked
25. The Ferrero family
Net worth: $22.9 billion
Source of wealth: Ferrero Group
The Ferrero family built its fortune on a chocolate confectionary empire. Ferrero Group's roots date back to 1940s Italy when it created what is now known as Nutella. In 2018, it acquired US Nestle's candy business.
24. The Lauder family
Net worth: $24.3 billion
Source of wealth: Estée Lauder
In 1947, the Estée Lauder brand was born. Today, the company, which includes 30 brands of makeup including MAC and Clinique, generates $12 billion in revenue from the sale of cosmetics and fragrances.
The Lauders are active philanthropists, and sons Leonard and Ronald are major art collectors. Leonard donated $1 billion worth of paintings and sculptures to the Met. The family also owns a lot of real estate.
23. The Hearst family
Net worth: $24.5 billion
Source of wealth: Hearst Corporation
About 67 family members share the fortune that William Randolph Hearst created when he took over the San Francisco Examiner in the late 1800s.
Soon after, Hearst acquired other newspapers and forayed into radio and TV, creating the foundation for today's media giant, Hearst Corporation, which owns several newspapers, nearly 300 magazines, TV and radio stations, and stakes in cable TV channels.
See the rest of the story at Business Insider
A French luxury brand is betting that the world's wealthiest people will pay a lot for a fancy bottle of perfume.
A bottle of fragrance from Morreale Paris' "Le Monde sur Mesure" line comes encrusted with diamonds, rubies, and gold, and it costs between $1.5 million and $20 million. Each scent and bottle is customized for the individual client.
"Our clientèle is mostly composed of wealthy art and jewel collectors as well as fragrance enthusiasts," the brand's creative director, Maxime Rançon, told Business Insider. "'Le Monde Sur Mesure' is not only a fragrance, it is a jewel, a story, a precious piece of art. Our clients ... come to us for the House Morreale to create a unique and precious piece of art bespoke that only very few people on this planet can [have] access to."
Rançon said they've sold one $1.5-million-bottle so far — with gold "armor" and encrusted diamonds — to a family located in the Middle East who wishes to remain anonymous, and they're in conversation with another potential buyer.
Each bottle takes more than 35 people up to a year to make, Rançon said, and the scent is unique to each client. The client can either choose from an exclusive creation by Morreale — which would only be used once — or they can work with Morreale to create a scent completely from scratch.
Rançon explained that "every bottle design is different depending on the client, every bottle comes with a different piece of jewelry, a different armor, different stones, etc… which makes each piece truly unique on the outside and on the inside."
Society Group, a real estate PR firm that sells multimillion-dollar homes with Hollywood trailers and Instagram parties, will exhibit the fragrance at luxury properties in Los Angeles starting in January, at "private events for millionaires and billionaires," a representative for the company told Business Insider.
But before an interested buyer can get a bottle of this exclusive perfume, they must fill out an online application form.
"The questionnaire means that we want to know our clients, who they are and what is their impact on our world," Rançon said. And, he noted, 25% of the proceeds from each perfume sale go to charity.
Those who buy a bottle of the multimillion-dollar fragrance are invited to fly around the world with the company during the process of selecting ingredients and creating the unique bottle — in Morreale's private jet.
"The process of creation is a journey of the body and the spirit around the world searching for the rarest natural treasures of this planet," Rançon said. "... The experience is an awakening: Now that you've seen the world, you can own it. You deserve it. Welcome home."