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November 21, 2008 10:20:52 CST

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ultra rich

ultra rich news stories

7 Stories

Diamond-Inlaid Mastercard? 'I Like!'

Company readies
lavish gold card for
rich Kazakhstanis

Financial Times (UK) Financial Times (UK) Nov 1, 08 7:50 PM CDT
(Newser) - MasterCard hopes that a worldwide recession won't stop shoppers from toting around a gold-encrusted, diamond-inlaid credit card, the Financial Times reports. Later this month, the company will issue VIP customers in Kazakhstan the "Diamond" card—which comes with a personal manager, is trimmed with gold, has a 0.02-carat gem in its center, and a credit limit of $50,000. More »

More about:  credit card • Dubai • gold • MasterCard • Kazakhstan • ultra rich • diamond

Billionaire Pays $500K for 27 Bottles of Wine

Global economic downturn? What global economic downturn?

Reuters Reuters Apr 19, 08 2:14 PM CDT
(Newser) - 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 »

More about:  recession • wine • globalization • luxury goods • luxury • ultra rich

 Recession Not Slowing Ultrarich 

Real estate, art, yachts still finding no shortage of willing consumers

New York Times New York Times Apr 14, 08 10:02 CDT
(Newser) - 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 »

More about:  recession • economy • luxury goods • rich • ultra rich

Rich Getting Even Richer, Even Faster

Gap between super wealthy and rest of US grows even bigger

New York Times New York Times Dec 15, 07 4:17 PM CST
(Newser) - 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 »

More about:  US economy • wealth • ultra rich • income disparity

Your Log-in Please, Sir?

Social networking sites for the super-rich

Wall Street Journal Wall Street Journal Nov 29, 07 10:49 PM CST
(Newser) - 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 »

More about:  Internet • Facebook • social networking • MySpace • ultra rich

Lexus Reaches for Luxury Cachet

Wealthy suburbanites' car of choice
gets high-end makeover

Wall Street Journal Wall Street Journal Mar 26, 07 11:23 CDT
(Newser) - 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 »

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

The Super-Rich
Are Rewriting Hollywood Rules

So rich, that is, that  they don't need the studios to distribute their films

MSNBC MSNBC Mar 12, 07 1:49 PM CDT
(Newser) - 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 »

More about:  movie • film • Hollywood • business • independent film • ultra rich

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