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July 25, 2008 12:31:09 AM CDT

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Stories related to: ultra rich

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6 Stories

  • April 2008

    • Billionaire Pays $500K for 27 Bottles of Wine

      newser  |  Reuters  |  Apr 19, 08 2:14 PM CDT

      Billionaire Pays $500K for 27 Bottles of Wine

      As the global economy falters, many people are fighting to make ends meet. And then there’s the Chinese billionaire who spent $500,000 for 27 bottles of wine today. The sale set a record for a single lot. “I don’t think he has bought this as an investment,” said an executive from the selling company. “He has bought it to drink.” More »

      Tags

      recession  • wine  • globalization  • luxury goods  • luxury  • ultra rich

    • Recession Not Slowing Ultrarich

      newser  |  New York Times  |  Apr 14, 08 10:02 AM CDT

      Recession Not Slowing Ultrarich

      As many Americans batten down the hatches, the über-rich are still living it up, the New York Times reports. Already this year, 71 New York apartments have sold for more than $10 million—compared to just 17 in 2007. The good times were so good, many say, they haven’t had to cut back on impulse purchases like yachts, Bentleys and dream celebrations. More »

      Tags

      recession  • economy  • luxury goods  • rich  • ultra rich

  • December 2007

    • Rich Getting Even Richer, Even Faster

      newser  |  New York Times  |  Dec 15, 07 4:17 PM CST

      Rich Getting Even Richer, Even Faster

      America’s economy is great, the New York Times says, if you’re already super rich. Between 2003 and 2005, America’s top 1% saw a meteoric 42.6% jump in income. The rest of us? Well, the middle fifth earned an extra 4.3%, and the bottom fifth just 1.3%—or $200 per household. “This is an economy that’s working, but not working for everyone,” said one economist. More »

      Tags

      US economy  • wealth  • ultra rich  • income disparity

  • November 2007

    • Your Log-in Please, Sir?

      newser  |  Wall Street Journal  |  Nov 29, 07 10:49 PM CST

      Your Log-in Please, Sir?

      The super-rich are joining the social networking craze, but they're certainly not going to mix with the masses on MySpace. Exclusive sites for millionaires using the same membership criteria as snooty country clubs are appearing on the Web, reports the Wall Street Journal . Invitation-only site aSmallWorld.net has proven popular—some say too popular.      More »

      Tags

      Internet  • Facebook  • social networking  • MySpace  • ultra rich

  • March 2007

    • Lexus Reaches for Luxury Cachet

      newser  |  Wall Street Journal  |  Mar 26, 07 11:23 AM CDT

      Lexus Reaches for Luxury Cachet

      Stodgy luxury standby Lexus is trying to trade up to the hot "prestige luxury" market with a new line of $70,000 and up automobiles.  Along with the new models comes a massive rebranding effort that aims, says a  marketing manager, to get "Louis Vuitton, Prada, Gucci and Lexus all mentioned in the same breath."  More »

      Tags

      auto industry  • car  • Louis Vuitton  • Prada  • ultra rich  • sports cars  • luxury car  • vehicles  • Gucci  • Lexus

    • The Super-Rich Are Rewriting Hollywood Rules

      newser  |  MSNBC  |  Mar 12, 07 1:49 PM CDT

      The Super-Rich Are Rewriting Hollywood Rules

      A new breed of Hollywood players—so rich they don't need studio money—are   financing and releasing slates of small-budget films on their own. Producers like Sam Nazarian, a 31-year-old scion of a wealthy Persian family, and self-made billionaire Sidney Kimmel, 78, are shouldering the costs of a full lineup of films, including the printing, advertising, and marketing that indies usually turn to the studios for. These mini-moguls keep control of their films, and all the profit. More »

      Tags

      movie  • film  • Hollywood  • business  • independent film  • ultra rich

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