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Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars

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richest family Asia ambanis

The richest family in Asia is an Indian family who threw one of the most lavish wedding celebrations in recent memory, which included a private Beyoncé concert and celebrity guests including Priyanka Chopra and Nick Jonas, Hillary Clinton, and Arianna Huffington.

The Ambani family is behind the oil-to-telecom conglomerate Reliance Industries. The company's chairman and largest shareholder is Mukesh Ambani, the richest man in Asia, who is worth an estimated $50 billion, according to Forbes.

That makes him the 13th-richest person in the world.

Mukesh's daughter, 27-year-old Isha Ambani, married Anand Piramal, 33, heir to a real-estate and pharmaceutical business, in December at the Ambani family home in Mumbai, a 27-story skyscraper that cost an estimated $1 billion to build.

Here's a look at the Ambani family's fortune, relationships, friends, and lavish lifestyles.

SEE ALSO: The 25 richest American families, ranked

DON'T MISS: Everything we know about Isha Ambani, the Indian heiress who got Beyoncé to perform at her wedding

The Ambani family in India tops the Forbes list of Asia's Richest Families. The family patriarch, Mukesh Ambani, has a net worth of at least $50 billion.

Source: Forbes



The Indian family's massive wealth began with Dhirubhai Ambani, who founded Reliance Industries to manufacture fabrics and textiles.

Source: BloombergFortune



It's now a Fortune 500 company worth $100 billion, and one of the most valuable companies in India.

Source: BloombergFortune



See the rest of the story at Business Insider

How Kylie Jenner became the world's youngest self-made billionaire, from starring in a reality TV show at age 9 to running a $900 million cosmetics empire at 21

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kylie jenner cosmetics ulta

Kim Kardashian West might be the most prominent of the Kardashian-Jenner clan, but Kylie Jenner is by far the richest.

The 21-year-old is now the world's youngest self-made billionaire, according to Forbes.

Forbes estimated that Jenner's company, Kylie Cosmetics, is worth $900 million. That plus the cash she has pulled in from the business brings her to billionaire status, Forbes said.

Read more: Kylie Jenner is the youngest self-made billionaire ever — and over-the-top photos show what $1 billion buys, from her luxurious baby accessories to a million-dollar car collection

The next-wealthiest member of the Kardashian-Jenners is Kardashian West, who's worth an estimated $350 million.

Many have criticized Forbes calling Jenner "self-made," saying she was born into wealth and privilege. In February, Jenner responded to the backlash in an interview with Paper magazine, saying, "The self-made thing is true" and adding that her parents "cut her off at the age of 15." 

Jenner, who turned 21 in August, has built up a cosmetics empire, starred alongside her family in "Keeping Up with the Kardashians" as well as in her own spin-off show "Life of Kylie," started a clothing line with her sister, and made millions promoting products on Instagram.

Here are all the ways Jenner has amassed her fortune.

SEE ALSO: Every member of the Kardashian-Jenner family, ranked by net worth

DON'T MISS: Kylie Jenner's tweet that whacked Snap's stock was one year ago — and shares have never really recovered

Kylie Jenner, 21, is officially the world's youngest self-made billionaire, according to Forbes.

Source: Forbes



Forbes estimated that Jenner's company, Kylie Cosmetics, is worth $900 million. With the cash she's already pulled in from the business, that brings her to billionaire status, Forbes said.

Source: Forbes



Jenner's first job was on reality TV show "Keeping Up With The Kardashians." She was 9 years old when the first episode aired and the show is now set to air its 16th season.

Source: Business Insider



See the rest of the story at Business Insider

Kylie Jenner is officially the youngest self-made billionaire. Here are 9 other self-made billionaires who crossed the $1 billion milestone before 30.

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Kylie Jenner

  • Kylie Jenner is officially the world's youngest self-made billionaire, according to Forbes' and Bloomberg's calculations.
  • Jenner follows in the footsteps of some of the most famous billionaires in the world, including Mark Zuckerberg and Evan Spiegel, who both passed the $1 billion benchmark before age 30. 
  • Here are the 10 youngest self-made billionaires. 

Kylie Jenner is officially the world's youngest self-made billionaire.

On Tuesday, Forbes and Bloomberg reported that the makeup entrepreneur and reality star had officially crossed the $1 billion milestone. 

Some people were less than pleased with the designation of Jenner, whose ritzy upbringing was documented on "Keeping Up with the Kardashians," as "self-made." Forbes uses the "self-made" designation as a way to distinguish between extremely rich people who inherited wealth and those whose fortune was made primarily in other ways.

Read more:Forbes crowned Kylie Jenner the youngest 'self-made' billionaire, and it's sparked an outcry online

Jenner follows in the footsteps of some of the most famous billionaires in the world — including Mark Zuckerberg and Evan Spiegel, who each made their first billion before reaching the age of 30. A few high-profile names, including Larry Page and Bill Gates, just missed the cutoff, achieving documented billionaire status at age 31. 

Here are the select few self-made billionaires who made $1 billion before age 30. 

SEE ALSO: How Kylie Jenner became the world's youngest self-made billionaire, from starring in a reality TV show at age 9 to running a $900 million cosmetics empire at 21

Sergey Brin, 30

Brin was just days away from his 31st birthday when Google went public in 2004 with a valuation of $27 billion.



Elizabeth Holmes, 30

In 2014, Forbes estimated Holmes had a net worth $4.5 billion at age 30 because of the massive valuation of her blood-testing startup, Theranos. At the time, she was the youngest woman to become a self-made billionaire — and held that status until Jenner's recent triumph. 

In 2016, Forbes dropped its estimate of Holmes' net worth to zero because of allegations of fraud at Theranos. 



Eduardo Saverin, 28

The Facebook cofounder had a messy break with Mark Zuckerberg, but he crossed the $1 billion milestone in 2010 thanks to his 5% stake in the social network.



See the rest of the story at Business Insider

Here are the 10 richest people in banking, hedge funds and investing

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warren buffett

  • Forbes Magazine just came out with it's 2019 list of the top billionaires in the world. 
  • We narrowed down the list to the wealthiest in finance. 
  • Most on the list are self-starters who built business empires in banking, hedge funds, money management, and investments, while a few inherited their fortunes from a family business.
  • From legendary investors to high-flying bankers, here are the 10 richest people in finance.

1. Warren Buffett

Net worth: $82.5 billion

Age: 89

Country: US

Industry: Diversified investments

Source of wealth: Self-made; Berkshire Hathaway

Berkshire Hathaway CEO Warren Buffett started his prodigious investing career at a young age. As a child he delivered newspapers on his bike, and by 11 the precocious Nebraska native had purchased his first shares in the stock market — Cities Service Preferred at $38 apiece — and sold them for a $5 profit. He was rejected from Harvard Business School, so Buffett went to Columbia Business School instead and learned under iconic value investor Benjamin Graham, who would become a mentor to the budding financier. Buffett worked as a securities analyst in the early-1950s before starting his own investment firm. He bought textile company Berkshire Hathaway in 1969, transforming it into a holding company that would house the many lucrative investments that helped build his massive fortune and earn the nickname "The Oracle of Omaha."

The array of portfolio companies and investments that made him rich may appear random — he's bet on companies including Coca-Cola, American Express, Geico, Fruit of the Loom, Dairy Queen, and General Motors — but they're all cash-generating machines that offer long-term value.

A frugal man with a fondness for junk food, perhaps the most impressive part of Buffett's $83 billion fortune is that it doesn't include $31.5 billion he's already given away. He's good friends with Microsoft cofounder Bill Gates, whom he collaborated with to create the Giving Pledge, a promise for billionaires to give away at least half of their wealth to charity. He's said that he will give away 99% of his wealth.



2. Joseph Safra

Net worth: $25.2 billion

Age: 80

Country: Brazil

Industry: Banking

Source of wealth: Self-made; Banco Safra

The world's wealthiest banker, Safra owns Banco Safra, one of the largest banks in Brazil, and the Switzerland's private bank J Safra Sarasin.

Born in Beirut, Lebanon, he is a scion of a Jewish banking family whose wealth dates back to Ottoman Empire. In 1952, he moved to Brazil with his family, and his father started working in the financial industry in Sao Paolo. Safra eventually got in the business himself, founding Banco Safra in the 1960s.

His late brother Edmond J. Safra is a notable philanthropist. In 1977 he and his wife Lily founded the Edmond J. Safra Foundation, and it continues to give to organizations all over the world today. Just to name a few of Safra's causes: He helped refurbish synagogues all over the world, endowed the Center for Ethics at Harvard University and the science campus of the Hebrew University of Jerusalem.



3. Jim Simons

Net worth: $21.5 billion

Age: 80

Country: US

Industry: Hedge funds

Source of wealth: Self-made; Renaissance Technologies

Before revolutionizing the hedge fund industry with his mathematics-based approach, "Quant King" James Simons worked as a code breaker for the US Department of Defense during the Vietnam War, but was fired after criticizing the war in the press. He chaired the math department at Stony Brook University for a decade until leaving in 1978 to start a quantitative-trading firm. That firm, now called Renaissance Technologies, has more than $57 billion in assets under management among its many funds.

He's given away over $2.7 billion in his lifetime.



See the rest of the story at Business Insider

These are the 21 richest billionaires in China

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jack ma

  • 2018 was a bad year for the world's billionaires, with China losing 49 billionaires over the course of the year.
  • The country's richest people faced a combination of a slowing economy and a turbulent stock market, which was the worst performing major market in the world over the course of the year.
  • Despite those struggles, China still has 324 people with a net worth of $1 billion or more. In total, 21 Chinese citizens feature in the top 200 richest people in the world, Forbes' annual billionaires ranking showed.

2018 was a bad year for the world's billionaires.

At the start of the year, according to Forbes' annual ranking of the world's super wealthy, there were 2,208 billionaires in the world. By the end of the year, there were 55 fewer, just 2,153.

Without doubt the worst hit country was China, which lost almost 50 billionaires over the course of the year as the country's richest people faced a combination of a slowing economy and a turbulent stock market, which was the worst performing major market in the world over the course of the year.

Despite those struggles, China still has 324 people with a net worth of $1 billion or more, and 13 worth more than $10 billion. In total, 21 Chinese citizens feature in the top 200 richest people in the world, Forbes' ranking showed.

Spanning CEOs of household names in the west like Alibaba and Xiaomi, all the way to the bosses of soy sauce producers and property developers, check out the 21 richest people in China below:

SEE ALSO: Meet the billionaires under 30

21. Ma Jianrong and family

Net worth: $7.8 billion

Source of wealth: Chair of Shenzhou International Group Holdings, China's biggest producer and exporter of clothing. Major clients include Nike.

Age: 54



T19. Zong Qinghou

Net worth: $8.4 billion

Source of wealth: Leads Hangzhou Wahaha, one of China's biggest beverage companies.

Age: 73



T19. Sun Piaoyang and family

Net worth: $8.4 billion

Source of wealth: Head of pharmaceuticals firm Jiangsu Hengrui.

Age: 60



See the rest of the story at Business Insider

Meet the world's richest millennials, who have a collective net worth of more than $235 billion

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billionaire millennials 4x3

  • Forbes recently released its annual Billionaires List.
  • There are 2,153 billionaires in the world — and 53 of them are millennials, defined by the Pew Research Center as those born between 1981 and 1996.
  • Collectively, they have a fortune worth $235.3 billion.

There are 2,153 billionaires— worth a collective $8.7 trillion — currently roaming the world, according to Forbes' recently released annual Billionaires List

But for some, it didn't take decades to accumulate their wealth — 53 billionaires on the list are millennials, defined by the Pew Research Center as those born between 1981 and 1996, or those aged 23 to 38 in 2019. Collectively, they're worth $235.3 billion.

The Forbes Billionaires List determined the net worths of the world's billionaires by valuing a variety of assets, including private companies, real estate, art, and more. All net worths are current estimates as of March 5, 2019.

We narrowed that snapshot down to look at the world's richest millennials, according to the Pew Research Center's definition. Note that some billionaires aged 22 were born in the cutoff year of 1996, but have not had birthdays yet this year in which they will turn 23.

From Facebook's Mark Zuckerberg to Snapchat's Evan Spiegel, scroll through to see some of the richest young people in the world.

SEE ALSO: The richest person at every age

DON'T MISS: Here are the 10 richest people in banking, hedge funds and investing

53 (TIE). Binny Bansal

Net worth: $1 billion

Age: 36

Country: India

Source of wealth: Flipkart, self-made

Position: Co-founder, Flipkart



53 (TIE). Sachin Bansal

Net worth: $1 billion

Age: 37

Country: India

Source of wealth: Flipkart, self-made

Position: Co-founder, Flipkart



53 (TIE). Ludwig Theodor Braun

Net worth: $1 billion

Age: 29

Country: Germany

Source of wealth: Medical technology

Position: Co-owner, B. Braun Melsungen



See the rest of the story at Business Insider

Meet Amancio Ortega, the fiercely private Zara founder who's worth $62 billion and owns properties in Madrid, London, and New York City

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amancio ortega

He may be the sixth-richest person in the world, but few people know his name. Amancio Ortega is the Spanish billionaire behind Inditex, the world's largest clothing retailer that owns Zara, Pull&Bear, Bershka, Massimo Dutti, and Stradivarius, and other brands.

Ortega is worth an estimated $62.7 billion, according to Forbes.

The mysterious Zara founder was briefly the world's richest man back in 2015, Forbes reported. He bypassed the then-richest person, Bill Gates, when his net worth peaked to $80 billion as Zara's parent company Inditex's stock peaked.

But when the stock went back down, Ortega went back to being the world's second-richest man, a title he gained in June 2015. 

Read more: We went inside one of the sprawling factories where Zara makes its clothes. Here's how the world's biggest fashion retailer gets it done.

Despite Ortega's impressive net worth, many people have never heard of him. The 82-year-old Spaniard fiercely guards his privacy and gives few interviews to the press.

Ortega founded fast-fashion giant Zara with his then-wife Rosalia in 1975. Today, his retail company Inditex SA — which owns eight brands including Zara, Massimo Dutti, and Pull&Bear — has more than 7,500 stores around the world.

Ortega is surpassed in wealth by only five people: Jeff Bezos, Bill Gates, Warren Buffett, Bernard Arnault, and Carlos Slim Helu. But Bloomberg's data notes that since last year, Gates' net worth has decreased by $1.1 billion, while Ortega's has increased by an impressive $10.4 billion.

Ashley Lutz and Mallory Schlossberg contributed to an earlier version of this story.

SEE ALSO: Meet the Arnaults, the French billionaires who control luxury-goods empire LVMH, own villas on the French Riviera and in LA, and rub shoulders with models, royalty, and tech moguls

DON'T MISS: Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars

Amancio Ortega is the sixth-richest person in the world, with an estimated net worth of $67.9 billion.

Source:Bloomberg



Ortega owns 59% of Inditex, the world's largest clothing retailer that owns brands including Zara ...

Source: Bloomberg



... Pull&Bear, a teen-focused retailer with 970 stores in 76 markets around Europe, the Middle East, Africa, Asia, and South America ...

Source: Business Insider



See the rest of the story at Business Insider

Meet Carlos Slim, the richest person in Mexico, who's worth at least $55 billion and owns an $80 million mansion in New York City

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Carlos Slim

  • Carlos Slim is the richest person in Mexico, worth an estimated $55.2 billion, according to Bloomberg's Billionaires Index.
  • He ranks among the top 10 richest people in the world.
  • The 79-year-old Mexican billionaire controls America Movil, the largest mobile-phone operator in Latin America, and holds stakes in several other publicly traded companies, including The New York Times.

Carlos Slim Helu, Mexico's wealthiest man and one of the richest self-made billionaires in the world, flies under the radar more than you might expect, considering he's involved in hundreds of companies in Mexico, which is also known as "Slimlandia." 

Slim's influence is far-reaching in Mexico and abroad. Bloomberg estimates Slim's net worth to be at least $55.2 billion, but he could be worth as much as $64 billion, according to Forbes. 

Here's how Slim built up his massive business empire. 

SEE ALSO: Meet Amancio Ortega, the fiercely private Zara founder who's worth $62 billion and owns properties in Madrid, London, and New York City

DON'T MISS: Meet the world's richest millennials, who have a collective net worth of more than $235 billion

Carlos Slim is worth at least $55 billion, making him the richest person in Mexico.

Source: Bloomberg



He's among the 10 richest people in the world. Bloomberg ranks him at No. 10 with an estimated net worth of $55.2 billion, while Forbes put him at No. 5 with an estimated net worth of $64 billion.

Source: Bloomberg, Forbes



Most of Slim's wealth comes from his 57% stake in America Movil, the biggest mobile-phone operator in Latin America.

Source: Bloomberg



See the rest of the story at Business Insider

From Elon Musk to Bill Gates, here are all of the notable tech billionaires who own private planes to jet themselves around the world

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Gulfstream G650ER

  • Billionaires can afford to make lavish purchases beyond most people's means, varying from entire islands to trips to space to sports teams.
  • Many billionaires in the tech industry have put their riches into oppulent modes of transportation, including private planes.
  • Here are some of the tech billionaires who have spent their fortunes on private jets for fast and easy travel.

Of all the status symbols out there that billionaires could use to flaunt their wealth, owning a private jet may be one of the most lavish choices.

Billionaires, like Richard Branson and Elon Musk, are often known for their crazy purchases. When you can afford to spend $80 million a year on average, you have the luxury of being able to drop millions for investments in items that the average person could never dream of. 

A common purchase among billionaires are private planes. Having a private jet for quick and easy travel may be especially valuable for high-powered executives and investors who may need to be on the other coast that same day. 

Here are some of the notable tech billionaires who own private jets:

SEE ALSO: Here's where the world's most influential tech CEOs went to college — and what they studied

Amazon CEO Jeff Bezos, the richest man in the world, owns a plane through his holding company, Poplar Glen.

Source: CNBC



Bezos' Gulfstream G650ER jet seats eight people, and cost an estimated $65 million.

Source: Business Insider



Investor Mark Cuban owns three jets. The billionaire said in a 2017 interview that owning a private plane was his "all-time goal," because "the asset I value the most is time, and that bought me time."

Source: Money



See the rest of the story at Business Insider

Chocolate for breakfast and freshly-killed goat for dinner — here are the diets of some of the most notable tech billionaires

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Mark Zuckerberg

  • Billionaires may splurge on multi million-dollar estates and luxury cars, but that doesn't mean they're digging deep in their wallets for the best and most expensive foods.
  • Some tech billionaires are well-known for their outrageous and unhealthy eating habits.
  • These are some of the richest in the tech world who have spoken publicly about their diets.

Just because billionaires have the money to pay for pricey personal chefs or high-end healthy foods doesn't mean they're actually adhering to diets that are good for them.

As you'll see below, some of the richest people in tech have some pretty terrible — or bizarre — eating habits. While some experiment with the latest health fads, like Paleo diets and veganism, there are other tech billionaires who enjoy eating chocolate for breakfast or skip eating altogether for days.

So even though there are some wealthy techies whose diets you'll want to copy to replicate their levels of success, there's no guarantee they'll put you in good health.

Here are some of the diets and foods that tech billionaires swear by:

SEE ALSO: From Elon Musk to Bill Gates, here are all of the notable tech billionaires who own private planes to jet themselves around the world

Richard Branson, the founder of Virgin Group, estimates he drinks 20 cups of tea a day. "I'm not sure how I'd survive without English Breakfast tea," Branson told the Daily Mail in 2016.

Source: Daily Mail



Branson said back in 2010 that he eats fruit salad and muesli for breakfast. Occasionally, he'll also eat kipper, a herring-like fish.

Source: Business Insider



Branson lives on his private Caribbean island, Necker Island. The billionaire fills his days with exercise, time with his family, and business meetings, which he prefers to schedule "over lunchtime" to help "lighten the mood." For dinner, he prefers to hold group meals "where stories are shared and ideas are born."

Source: Virgin Group



See the rest of the story at Business Insider

A definitive list of the 13 richest tech billionaires in the world

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Jeff Bezos

Forbes has released its latest billionaires list. As ever, tech moguls loom large, with familiar faces laced throughout Forbes' ranking.

For some, it was another very good year in the elite club. But the personal wealth of others took a battering, not least Facebook CEO Mark Zuckerberg, who fell down the ranking after a disastrous year for his social network. 

Scroll on to see the world's 13 richest tech billionaires, ranked in ascending order.

SEE ALSO: Mark Zuckerberg's net worth sank by nearly $9 billion after Facebook's catastrophic year

13. Masayoshi Son. Net worth: $21.6 billion

Masayoshi Son is the CEO and founder of the Japanese megafund Softbank, which has pumped money into high-profile tech companies like Uber and WeWork.

This year Softbank took a hit following the murder of journalist Jamal Khashoggi, due to its links to Saudi Arabian Crown Prince Mohammed bin Salman.

Read more:SoftBank's high leverage is another warning sign on the growing corporate debt crisis



12. Elon Musk. Net worth: $22.3 billion

It was a wild year for the Tesla CEO, with numerous scandals and Tesla's stock zooming up and down in tune with his erratic behaviour. Both Tesla and his rocket company SpaceX laid off significant chunks of their staff in January of this year. Musk remains lavishly wealthy, however.



11. Azim Premji. Net worth: $22.6 billion

Premji, sometimes referred to as the "Bill Gates of India" is the founder of IT company Wipro.



See the rest of the story at Business Insider

A woman who studied 600 millionaires discovered that most of the superrich have surprisingly affordable homes. Here's what some of those look like.

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tony hseih airstream trailer

The key to building wealth? Living in a home you can easily afford.

That's according to Sarah Stanley Fallaw, the director of research for the Affluent Market Institute. She's an author of "The Next Millionaire Next Door: Enduring Strategies for Building Wealth," in which she surveyed more than 600 millionaires in America.

She found that no factor plays as big a role in accumulating money as where you choose to live. Most of the millionaires she studied had never purchased a home that cost more than triple their annual income. Even some high-profile, ultra-rich people — from Mark Zuckerberg to Serena Williams— have purchased homes well below their means.

To compile the list below, we compared each person's net worth with the cost of their homes. We didn't have the data to determine their net worth at the time of purchase, so we adjusted the house purchase price for inflation using an inflation calculator to compare that with their net worth today.

For example, the billionaire investor Warren Buffett bought his home in 1958 for $31,500. Adjusted for inflation, that's equivalent to $274,357 in today's dollars, or just 0.0003% of his $82.1 billion net worth.

Everyone on this list owns a home less than 5% of their net worth.

SEE ALSO: A woman who studied 600 millionaires discovered where you choose to live has 2 effects on your ability to build wealth

DON'T MISS: Inside the lives of surprisingly frugal millionaires and billionaires, from businessmen like Warren Buffett and Richard Branson to A-list celebs like Jay Leno and Jennifer Lawrence

Sarah Stanley Fallaw, the director of research for the Affluent Market Institute, studied more than 600 millionaires for her book, "The Next Millionaire Next Door: Enduring Strategies for Building Wealth."

Source: "The Next Millionaire Next Door"



She found that your neighborhood plays a huge role in how much you save and spend.

Source: "The Next Millionaire Next Door"



If you live in a pricey home in an affluent neighborhood, you're more likely to mirror your neighbor's consumption habits and less likely to accumulate wealth over time.

Source: "The Next Millionaire Next Door"



See the rest of the story at Business Insider

From basketball courts to floating helipads, here are the luxury yachts owned by some of the wealthiest people in tech

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richard branson boat

  • Billionaires can afford toys that most people can only dream of: private planes, penthouse apartments, and even entire islands.
  • Some billionaires have taken to purchasing multi-million-dollar yachts, complete with movie theaters and dance floors, that they can use to host family and their other wealthy friends.
  • Here are some of the tech elites who own private yachts.

Some billionaires, like Elon Musk and Bill Gates, buy private planes to take control of the open skies — others purchase yachts to access the open seas.

There aren't too many tech billionaires with yachts. Perhaps it's because while private planes can be used for work-related trips and quick time-saving flights, yachts are generally relegated to play. The yachts of tech billionaires, like Google's Sergey Brin and Larry Page, reflect that view — their boats are decked out with amenities like gyms, spas, pools, nightclubs, and movie theaters.

If you want to find out what life is like aboard these multi-million-dollar yachts, some of them are available to rent out for a few nights or weeks at a time. For instance, chartering the yacht owned by Alphabet President Sergey Brin has cost past customers $773,000 a week.

Here are the yachts owned by tech billionaires:

SEE ALSO: Chocolate for breakfast and freshly killed goat for dinner. Here are the diets of notable tech billionaires.

Oracle cofounder Larry Ellison owns a 288-foot yacht named Musashi that he acquired in 2013.

Source: Forbes



Ellison previously owned a bigger, 454-foot yacht called Rising Sun, which was designed specifically for the CEO in 2005. That yacht reportedly has 82 rooms, a movie theater, a wine cellar, and a basketball court. However, Ellison sold off the Rising Sun to music mogul David Geffen for a reported $300 million.

Source: Forbes, Boat International



Ellison's Musashi is a sister ship to the yacht of another billionaire, Sears CEO Eddie Lampert. However, the yacht, named Fountainhead, is often mistaken for belonging to billionaire investor Mark Cuban. "The guy who owns the boat tells everyone that it's mine," Cuban told Page Six in 2016. "It’s so crazy ... I don’t even own a boat."

Source: Page Six



See the rest of the story at Business Insider

The billionaire behind Hudson Yards, the most expensive real-estate development in US history, says it's 'not a neighborhood for the rich'

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stephen ross related

Hudson Yards is the most expensive real-estate development in US history. When it's finished, the $25 billion development will include luxurious residential towers, office spaces, a school, a luxury mall with high-end boutiques and restaurants, a $200 million art installation, public gardens, a performing-arts space, and the highest outdoor observation deck in the Western Hemisphere.

Condos start at $4.3 million and can cost upwards of $32 million.

Hudson Yards, with its glossy luxury boutiques and sky-high price tags, has faced criticism from some who see it as a neighborhood made only for the ultra-wealthy and has earned nicknames including a "playground for billionaires" and "a mall for the wealthy." Justin Davidson of New York Magazine called Hudson Yards "a billionaire's fantasy city."

But the billionaire behind the massive real-estate project disagrees with that characterization.

Hudson Yards is "not a neighborhood for the rich," Stephen Ross, the chairman of The Related Companies, the real-estate firm that's the developer of Hudson Yards, said in an interview with Forbes. "It's not a separate enclave."

hudson yards

Ross is worth more than $10 billion, according to Bloomberg, and Forbes estimates that his Related Companies has developed $30 billion worth of properties worldwide. Ross is also the owner of the Miami Dolphins.

In the Forbes interview, Ross said Hudson Yards' mall offers affordable options for eating and shopping, such as Shake Shack, H&M, and Zara.

The mall also includes the city's only Neiman Marcus, along with restaurants like TAK Room from Thomas Keller, the chef behind the Michelin-starred Per Se.

Luxury lifestyles in Hudson Yards

Hudson Yards currently has two luxury condominium towers: 15 Hudson Yards and 35 Hudson Yards. At 15 Hudson Yards, residences start at $4.3 million and go up to $32 million.

Read more: I toured the first residential building to open in Hudson Yards, NYC's new $25 billion neighborhood — and it was clear it's selling much more than just real estate

15 hudson yards penthouse

Its neighbor, 35 Hudson Yards, which its architect called "a city within Hudson Yards," will include a 60,000-square-foot Equinox fitness center, the world's first Equinox hotel, retail spaces, and at least one restaurant. Condos start at $5 million and go up to at least $28.5 million — and that's not including the penthouses, which are not yet priced. Ross himself will be moving into one of the penthouses, he told Forbes.

At One Hudson Yards, Related Companies' 33-story rental building that opened in 2017, available units range from $8,805 to $17,000 per month. At the nearby Abington House, the cheapest available apartment is a studio for $3,410.

Of the 4,000 apartments that are planned for Hudson Yards, about 10% will be rented at below-market rates as part of the city's affordable-housing program. These apartments, which will be open to those who make between about $31,000 and $62,000 per year, will rent for $858 a month for a studio and up to $1,350 a month for a two-bedroom, according to Curbed.

Hudson Yards opens to the public on Friday, but it's only about half-finished, according to Crain's. It's expected to be completed by 2025.

SEE ALSO: I toured a new 92-story luxury tower in NYC's Hudson Yards, where condos start at $5 million — and it was clearly designed to be so much more than just a residential building

DON'T MISS: Firefighters are warning that lives could be at risk in New York's $25 billion megadevelopment

Join the conversation about this story »

NOW WATCH: Take a look inside a $28.5 million NYC apartment on Billionaires' Row

These are the 15 hottest destinations billionaires are traveling to in 2019

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luxury travel

Investing in travel is becoming an increasingly popular way for the ultra-rich to signify their status— and they're extending it far beyond the classic idea of a vacation. 

Nowadays, the super-rich are taking months-long, multimillion-dollar trips to recharge or reconnect with family because they're often burnt out, Business Insider's Katie Warren previously reported. That can take shape in the form of extreme adventures, luxurious getaways, and educational excursions.

But just where are these billionaires headed?

Business Insider teamed up with boutique luxury travel agency Original Travel, which plans trips for high-net-worth individuals, to find out the hottest spots the elite are spending their money on in 2019. They based this ranking on the number of bookings and performance; the latter was assessed by feedback, their expertise, and client inquiries.

Turns out, billionaires have a taste for adventure in 2019. While a few classics made the list, such as Britain and France, far-flung countries — from Rwanda to Myanmar — made an appearance on the list, too.

Keep reading to see where the rich are getting their passports stamped this year.

SEE ALSO: What a $1 million vacation looks like in Mykonos, Greece, where you'll fly in on a private jet, sleep in an ocean-view villa, and cruise the seas in a yacht

DON'T MISS: Billionaires' vacation perks range from Ferrari-driving lessons to after-hours tours away from the crowds — here's what it's really like to travel while rich

15. Montenegro

Lesser-known than neighbors Croatia and Greece, the tiny slice of Adriatic coastline that is Montenegro has previously lacked high-quality accommodation (other than the Aman network) to rival its fjord landscapes, Tom Barber, co-founder of Original Travel, told Business Insider.

"Montenegro is set for a luxury upgrade in 2019 with the Chedi Lustica Bay newly opened and One & Only opening its first resort in Europe next year with Portonovi in Boka Bay," he said.



14. Oman

Business Insider previously reported that Oman is the next big destination for luxury travelers. Its peak travel season runs from October to April.

"Luxury brands like Anantara Hotels, which has already opened two resorts there, are claiming the country's culture and unique topography are a huge draw for travelers," reported Sarah Jacobs.



13. France

Champagne, in particular, is France's hottest destination right now, according to Barber. Belmond's new Pivoine Champagne barge launched in 2018, and the recent opening of The Royal Champagne Hotel "injected a much-needed shot of luxury and style to the hotel offerings of the region," he said.

He added: "From barge or hotel, we recommend arranging a private vineyard tour and tastings including a backstage at Bollinger experience, along with a make-your-own Champagne lesson and treehouse Champagne bar experience for a comprehensive immersion in the region."



See the rest of the story at Business Insider

What it's like living as a billionaire in Singapore, the most expensive city in the world, where wealthy residents are worth a combined $1 trillion and limited land makes owning a house the ultimate 'status symbol'

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singapore skyline sunset

Singapore, an island city-state off of southern Malaysia, was just ranked the most expensive city in the world for the fifth year in a row, according to a new report from the Economist Intelligence Unit.

The top spot was a three-way tie between Singapore, Paris, and Hong Kong.

The city of 5.6 million people, nicknamed the "Lion City," is home to about 44 billionaires and many more multimillionaires. Its wealth was the backdrop for the hit 2018 film "Crazy Rich Asians."

Here's what it's really like living in Singapore as a billionaire.

SEE ALSO: What it's like living in Hong Kong as a billionaire, where the ultrarich live in high-security mansions and spend $16 billion a year betting on horse racing

DON'T MISS: Forget Bali and Mykonos: An ancient port city in Turkey is the under-the-radar luxury hotspot to visit in 2019

Singapore is one of the richest cities in the world.

Source: Business Insider



The island city-state off of southern Malaysia has a population of 5.6 million ...

Source: Singapore Department of Statistics



... and the total private wealth of its residents amounts to $1 trillion.

Source: Business Insider



See the rest of the story at Business Insider

Bill Gates is worth $100 billion and he plans to give most of it away — here's how he spends his money now, from a luxury car collection to incredible real estate

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bill gates

  • Bill Gates' net worth is officially $100 billion, according to the Bloomberg Billionaire index.
  • That makes him $24 billion richer than he was five years ago, and puts him in a two-man club with Jeff Bezos, reported Business Insider's Julie Bort.
  • While he indulges in a few luxuries, they make up only a fraction of his fortune.
  • He mainly spends his billions on charity through the Bill and Melinda Gates Foundation, and plans to give away most of his fortune.

Bill Gates is getting richer and richer — his net worth is worth over $100 billion, according to the Bloomberg Billionaire index. He's $9.5 billion richer than he was one year ago and $24 billion richer than he was five years ago, reported Business Insider's Julie Bort.

That puts Gates, the cofounder of Microsoft and the world's second-richest person, in a two-man club of people worth more than $100 billion with Jeff Bezos, wrote Bort.

It's hard to imagine what to do with that amount of money, but Gates knows how to make the most of it. While he has some indulgences — like a Washington estate worth $125 million, a private airplane, and a luxury-car collection — they make up only a fraction of his massive fortune.

He and wife, Melinda, previously said it's unfair they're so rich. Instead of spending billions on themselves, they often donate it to charity through the Bill and Melinda Gates Foundation. They've also pledged to give away most of their fortune through the Giving Pledge, which they launched in 2010.

See how Gates spends his billions.

SEE ALSO: We did the math to calculate exactly how much money billionaires and celebrities like Jeff Bezos and Kylie Jenner make an hour

DON'T MISS: Beyoncé is worth $355 million — see how she spends it on lavish mansions, yachting vacations, and a private jet for Jay-Z

Bill Gates, the cofounder of Microsoft, has an estimated net worth of just over $100 billion, making him the world's second-richest person.

Source: Bloomberg



He's $9.5 billion richer than he was one year ago and $24 billion richer than he was five years ago.

Source: Business Insider



His net worth puts him in a two-man club of people worth more than $100 billion with Jeff Bezos.

Source: Business Insider



See the rest of the story at Business Insider

What it's like to vacation in the exclusive community on the French Riviera nicknamed the 'Peninsula of Billionaires,' where royalty and tech tycoons live in opulent villas

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saint jean cap ferrat france

  • Saint-Jean-Cap-Ferrat is an exclusive community on the French Riviera that's been known as a vacation hotspot for the well-heeled dating back to the late 1800s.
  • Its abundance of opulent historic villas owned by millionaires and billionaires has earned the seaside Mediterranean village the nickname the "Peninsula of Billionaires."
  • Actors, politicians, royalty, and tech titans, from Winston Churchill to the late Microsoft co-founder Paul Allen, have vacationed or owned homes in the French seaside town.

The French Riviera is known to be a playground for the rich and famous. 

But of all the seaside towns, the village of Saint-Jean-Cap-Ferrat stands apart. The exclusive coastal community, known for its yacht-filled harbor and opulent historic villas, is home to only about 1,600 permanent residents.

"There are almost too many billionaires living here to count," Edward de Mallet Morgan of Global Super Prime Residential told CNBC in 2018.

Here's what it's like in the affluent seaside community of Saint-Jean-Cap-Ferrat.

SEE ALSO: What it's like living as a billionaire in Singapore, the most expensive city in the world, where wealthy residents are worth a combined $1 trillion and limited land makes owning a house the ultimate 'status symbol'

DON'T MISS: What it's like to vacation in St. Moritz, the hidden gem in the Swiss Alps where celebrities, billionaires, and royalty go to ski

Saint-Jean-Cap-Ferrat is a town of about 1,600 people in the south of France.

Source: INSEE



It's located on the French Riviera, on a peninsula jutting into the Mediterranean Sea, about a 25 minute drive from Nice.

Source: Google Maps



Saint-Jean-Cap-Ferrat is known for its striking coastal views, stately villas, ultra-luxurious hotels, and yacht-filled harbor.

Source: Four Seasons



See the rest of the story at Business Insider

Meet Tadashi Yanai, the richest person in Japan and the founder of Uniqlo, who's worth nearly $25 billion and owns 2 golf courses in Hawaii

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tadashi yanai

  • Tadashi Yanai is the richest person in Japan, worth an estimated $24.8 billion.
  • He's the chairman and biggest shareholder of Fast Retailing, the largest clothing retailer in Asia and parent company of Uniqlo.
  • The Japanese billionaire lives in a $50 million house in the woods outside of Tokyo and owns two golf courses in Hawaii.

Tadashi Yanai is the richest person in Japan.

The Japanese businessman is worth an estimated $24.8 billion, according to Bloomberg. His fortune comes from his position as chairman and the biggest shareholder of Fast Retailing, the largest clothing retailer in Asia and the parent company of Uniqlo.

Yanai opened the first Uniqlo store in 1984 and has expanded the brand to more than 2,000 stores in at least 20 countries.

Uniqlo's clothing is "geared to all types of people: whether they are billionaires, the middle class, the lower end," Yanai told Vault Magazine in 2011. "We need to cater to all, just like Marks and Spencer or Gap or the current H&M and Zara. Unless we cater to all segments of life and segments of people, we cannot be successful."

The Japanese billionaire lives in a $50 million house in the woods outside of Tokyo and owns another home in a ritzy, exclusive neighborhood in the city. He also owns two golf courses in Hawaii, where he spends a few weeks each summer, according to Bloomberg.

Here's a look at the life of Japan's richest person.

SEE ALSO: Meet Amancio Ortega, the fiercely private Zara founder who's worth $62 billion and owns properties in Madrid, London, and New York City

DON'T MISS: A major Japanese retailer threatened to leave the US if Trump enforced 'made in America' policies

Meet Tadashi Yanai, the richest person in Japan and chairman of Fast Retailing.

The Japanese businessman heads Fast Retailing and is worth an estimated $24.8 billion. He's more than $6 billion richer than the second-richest person in Japan, Takemitsu Takizaki, according to Bloomberg.

Yanai's wealth comes from his position as president, chairman, and the largest shareholder of Fast Retailing, the largest clothing retailer in Asia. The 70-year-old billionaire holds a 46% stake in the company.



Fast Retailing is the parent company of Uniqlo and other brands including Theory, Comptoir des Cotonniers, and J Brand.

Fast Retailing has thousands of stores worldwide and reported a yearly revenue of $16.9 billion in August 2017, according to Bloomberg.



Yanai was born in southern Japan in 1949, the son of a clothing seller.

Yanai's father owned a men's clothing shop called Men's Shop Ogori Shoji. The store was on the first floor and the family lived above it. By the 1970s, the business had several locations.



See the rest of the story at Business Insider

Former Starbucks CEO Howard Schultz says America's inequality problem has gotten out of control, and he's promising to fix it

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Howard Schultz

  • In a recent interview with Business Insider's Kate Taylor, former Starbucks CEO Howard Schultz discussed his potential run for office in the upcoming 2020 election.
  • Schultz said that America's financial inequality issue needs to be addressed by the next president.
  • While Schultz did not provide specific plans, he assured Taylor the issue will be at the top of his agenda if he runs for president.

Howard Schultz promises to address financial inequality if he runs for president.

When Business Insider's Kate Taylor brought up America's billionaire problem in a recent interview with the former Starbucks CEO, he did not provide specific plans for a solution. However, he assured Taylor the issue is one of his top concerns.

"If I run for president and am fortunate to win, what I can promise you is I will address the issues of inequality in many ways, because I have great empathy and compassion, because I was one of those people once in my life," Schultz told Business Insider. "And I'm in a unique position of having lived on both ends of the spectrum."

In the United States, the extreme wealth gap is a growing issue brought on, in part, by dynastic wealth. Schultz noted that while president Donald Trump says the economy is in good standing, he is talking about a select group of the superrich, while "the vast majority of Americans are living paycheck to paycheck."

Read more: Here's the income it takes for a family of 4 to be considered poor in every state

"The next president of the United States must do a number of things to significantly address with urgency the level of inequality," said Schultz.

Schultz went on to note that he believes the wealthy should be paying more in taxes and that the corporate tax rate should be higher.

He added that he has seen both ends of the spectrum — financial struggles in his childhood and financial success in his adult life. 

"I still have the scars, the vulnerability, the shame, the insecurity of growing up in a family where my parents couldn't afford the $96-a-month rent for the apartment in the projects," Schultz said. "That just never left me — like all of us, my childhood experiences have defined me."

Read the full interview here.

SEE ALSO: Billionaire and likely presidential hopeful Howard Schultz doesn't want people calling him a 'billionaire'

NOW READ: Here's what former Starbucks CEO Howard Schultz thinks about Alexandria Ocasio-Cortez being too young to run for president

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NOW WATCH: Howard Schultz on Trump

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