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<generator>Blogsmith http://www.blogsmith.com/</generator><item><title>Moscow's Gloomy Millionaire Fair</title><link>http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/</link><guid isPermaLink="true">http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/</guid><comments>http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><a href="http://www.guardian.co.uk/sport/feedarticle/8091682"><img vspace="4" hspace="4" border="1" src="http://www.blogcdn.com/www.luxist.com/media/2008/12/millionairefairrussia.jpg"  alt="" /></a><br />Last month I wrote about the <a href="http://www.luxist.com/2008/11/01/the-millionaire-fair-heads-to-istanbul/">Millionaire Fair in Istanbul</a> but it appears it didn't go over quite so well in Moscow this time. The<a href="http://blogs.wsj.com/wealth/2008/12/01/from-the-bad-timing-department-the-millionaire-fair/"> Wall Street Journal's Wealth Report</a> led me to the<a href="http://www.guardian.co.uk/sport/feedarticle/8091682"> Guardian's report of the Moscow Millionaire Fair </a>where yachts were going two for one and no one was buying. Socialite Ksenia Sobchak, the fair's master of ceremonies, applauded guests for showing ups saying that: "Everyone is a superhero for finding it in themselves to come here tonight, to try to bask in the luxury." The fair was the <a href="http://www.millionairefair.com/">usual dazzling spectacle</a> of exotic cars, jewels and free-flowing Champagne. Moscow still has more billionaires than any other city but many have seen their fortunes dramatically pruned over the last year. The end result seemed to be a rather grim spectacle of luxury where people weren't quite sure if they were celebrating what remains or mourning what once was.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/">Moscow's Gloomy Millionaire Fair</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Tue, 02 Dec 2008 18:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.guardian.co.uk/sport/feedarticle/8091682>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1388974/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/12/02/moscows-gloomy-millionaire-fair/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>millionaire fair</category><category>MillionaireFair</category><category>moscow</category><dc:creator>Deidre Woollard</dc:creator><pubDate>Tue, 02 Dec 2008 18:02:00 EST</pubDate></item><item><title>If You Use Donald Fisher's Jet You Better Pay Up</title><link>http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/</link><guid isPermaLink="true">http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/</guid><comments>http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="0" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/11/donald-fisher.jpg"  alt="" />Gap co-founder and <a href="http://www.luxist.com/2007/12/05/gap-founder-plans-san-francisco-museum/">art philanthropist </a>Donald Fisher would like his money now please. He <a href="http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=55&amp;entry_id=32552">has sued a private jet charter company</a>,  <a href="http://www.jetdirectaviation.com/home.asp">JetDirect Aviation, Inc</a>. for $376,770 he says the company owes him in jet rental fees. Fisher rents out his Bombardier BD-700-1A10 Global Express jet for $8,000 an hour when he isn't using it. The lawsuit contends that the company hasn't been paying the rent after the deal was signed a year ago.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/">If You Use Donald Fisher's Jet You Better Pay Up</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Thu, 13 Nov 2008 21:07:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=55&amp;entry_id=32552>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1371739/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/11/13/if-you-use-donald-fishers-jet-you-better-pay-up/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>donald fisher</category><category>DonaldFisher</category><category>gap</category><category>private jet</category><category>PrivateJet</category><dc:creator>Deidre Woollard</dc:creator><pubDate>Thu, 13 Nov 2008 21:07:00 EST</pubDate></item><item><title>A Big Drop In Chinese Billionaires</title><link>http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/</link><guid isPermaLink="true">http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/</guid><comments>http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><a href="http://www.guardian.co.uk/world/2008/oct/31/china-marketturmoil"><img vspace="4" hspace="4" border="1" alt=""  src="http://www.blogcdn.com/www.luxist.com/media/2008/11/83448406.jpg" /></a><br />As my<a href="http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/"> colleague Jared Paul Stern recently reporte</a>d, some Russian billionaires have been been losing money hand over fist the last few months. And they are not alone. <a href="http://www.guardian.co.uk/world/2008/oct/31/china-marketturmoil">The Guardian has a piece o</a>n the falling numbers of Chinese billionaires. There were 66 Chinese billionaires in 2007 but there are just 24 now due to the plunging Chinese stock market. The combined worth of the country's 400 richest people is down  40% and the  top 40 lost  57% of their wealth according to Forbes magazine. Those who lost their money are hopeful that the tide will turn and they will be back up again soon. After all two years ago, there were only 15 Chinese billionaires.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/">A Big Drop In Chinese Billionaires</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Sun, 02 Nov 2008 10:04:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.guardian.co.uk/world/2008/oct/31/china-marketturmoil>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1359522/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/11/02/a-big-drop-in-chinese-billionaires/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>billionaires</category><category>china</category><dc:creator>Deidre Woollard</dc:creator><pubDate>Sun, 02 Nov 2008 10:04:00 EST</pubDate></item><item><title>Even Dubai Feels Wall Street's Pain...</title><link>http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/</guid><comments>http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><a href="http://www.time.com/time/photogallery/0,29307,1739341_1586637,00.html"><img width="449" vspace="4" hspace="4" height="297" border="0" align="middle" alt="" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/dubai1lhm.jpg" /></a><br />In a global marketplace, even Dubai isn't protected from the economy's frosty embrace. Although real estate giants don't anticipate a market crash in this tourist hot spot it has certainly <a href="http://www.time.com/time/business/article/0,8599,1851370,00.html?xid=rss-business">slowed the rush to invest in Dubai </a>down a bit. There may be a positive note in this unpredictable market as some believe the speculators or "flippers" will get weeded out and bring more stability. I don't pretend to understand everything about the effects of our economic issues but it's certainly disconcerting when Dubai is feeling the strain.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/">Even Dubai Feels Wall Street's Pain...</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Sun, 26 Oct 2008 10:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.time.com/time/business/article/0,8599,1851370,00.html?xid=rss-business>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1348769/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/26/even-dubai-feels-wall-streets-pain/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>dubai</category><category>economy</category><category>global market</category><category>GlobalMarket</category><category>market</category><category>TIME</category><category>wall street</category><category>WallStreet</category><dc:creator>Laura Malesich</dc:creator><pubDate>Sun, 26 Oct 2008 10:02:00 EST</pubDate></item><item><title>Euro Billionaire Commissions $6.5 Million Watch</title><link>http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/</guid><comments>http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/timepieces/" rel="tag">Timepieces</a>, <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" alt="" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/tourlile.jpg" /><br />Apparently not everyone is feeling the bite of the recession. A European mogul has commissioned luxury Swiss watchmaker <a href=" http://www.vacheron-constantin.com/">Vacheron Constantin</a> to create a one-of-a-kind $6.5 million timepiece that will instantly become one of the world's most expensive watches. The design, which may take years to complete, will be many times more precious than Vacheron's <a href="http://www.luxist.com/2005/11/14/vacheron-constantin-tour-dile-wins-major-swiss-prize/">Tour de l'Ile</a> timepiece (above) created for the company's 250th anniversary in 2005. Only seven examples of the Tour de l'Ile timepiece, billed as the "world's most complicated double-faced watch", were made for an astounding $1.5 million apiece. A few more commissions of this sort and the luxury watch industry will have nothing to worry about.<br /><br />[via <a href="http://www.affluentpageluxuryindex.com/news-and-noteworthy/tycoon-commissions-65-million-vacheron-constantin/">Affluent Page</a>]<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/">Euro Billionaire Commissions $6.5 Million Watch</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Tue, 21 Oct 2008 18:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1347932/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/21/euro-billionaire-commissions-6-5-million-watch/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Swiss watch</category><category>SwissWatch</category><category>Tour de lIle</category><category>TourDeLile</category><category>Vacheron Constantin</category><category>VacheronConstantin</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Tue, 21 Oct 2008 18:02:00 EST</pubDate></item><item><title>Abramovich Loses $20 Billion</title><link>http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/</guid><comments>http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/abramoloss.jpg" alt="" />Bad news for free-spending Russian billionaire and Luxist mascot <a href=" http://www.luxist.com/tag/roman+abramovich/">Roman Abramovich</a>: he lost a staggering $20 billion over the past few months as Russia's financial markets took a tumble. The figure was calculated "based on assets excluding property and cash," Bloomberg <a href=" http://www.bloomberg.com/apps/news?pid=20601109&amp;sid=aIAWDrA4RSTQ&amp;refer=home">reports</a>, and it means that Abramovich's net worth is now only $3.5 billion. He had previously been <a href=" http://www.forbes.com/lists/2008/10/billionaires08_Roman-Abramovich_DG3G.html">ranked</a> as the 15th richest man in the world with a fortune of $23.5 billion. <br /><br />Some other Russian oligarchs have fared pretty poorly as well. Russia's richest man - well, formerly anyway - <a href="http://www.luxist.com/tag/oleg+deripaska/">Oleg Deripaska</a> lost more than $16 billion, and Vladimir Lisin lost $22 billion. Overall, Russia's richest men have lost a combined total of $230 billion in five months, Bloomberg notes. No single man has suufered as much as Indian steel tycoon Lakshmi Mittal, who <a href=" http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/">lost $28 billion</a> as we reported earlier this week. Still, Abramovich's loss is likely to affect him more as he so obviously enjoyed spending his immense wealth. So - anyone want to buy a <a href=" http://www.luxist.com/2008/10/06/abramovichs-new-350-million-megayacht-will-have-missile-defenc/">$350 million megayacht</a>?<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/">Abramovich Loses $20 Billion</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Fri, 10 Oct 2008 14:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1338730/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/10/abramovich-loses-20-billion/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Oleg Deripaska</category><category>OlegDeripaska</category><category>roman abramovich</category><category>RomanAbramovich</category><category>Russian billionaires</category><category>RussianBillionaires</category><category>Vladimir Lisin</category><category>VladimirLisin</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Fri, 10 Oct 2008 14:02:00 EST</pubDate></item><item><title>The New Most Expensive Zip Codes in America</title><link>http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/</guid><comments>http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/events/" rel="tag">Events</a>, <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/fisherislandover.jpg" alt="" /><br /><em>Forbes</em> has just released its annual <a href=" http://www.forbes.com/2008/09/28/zip-expensive-hundred-forbeslife-cx_richzipcodes08_mw_1007realestate.html">ranking</a> of the 100 most expensive zip codes in America, and what with fluctuating real estate markets some of the results may surprise you. <a href="http://www.luxist.com/tag/beverly+hills/">Beverly Hills</a> for example, the famous 90210, barely makes it into the top 10 nowadays with a median home price of $2.41 million, while Bel Air (90077) lags way back at No. 29 with a median price of $1.72 million. <a href="http://www.luxist.com/tag/new+york/">New York City</a> doesn't rate an appearance at all until Tribeca zip 10013 clocks in at No. 14 with a median price of $2.2 million. <br /><br />That famous province of the rich, <a href="http://www.luxist.com/tag/Greenwich/">Greenwich</a>, Conn. (zip 06870 in Old Greenwich) is way down at No. 26 with a median price of $1.75 million. The most expensive zip code in the country? 33109, the tiny private enclave of Miami Beach known as <a href="http://www.fisherisland.com/">Fisher Island</a> (above), where sales prices rose by $525,000 over the last year and which has an unbeatable median price of $3.85 million. Listed below are the Top 10 zips. You can see a slideshow of the full list <a href="http://www.forbes.com/2008/09/28/zip-expensive-hundred-forbeslife-cx_richzipcodes08_mw_1007realestate_slide_2.html?thisSpeed=15000">here</a>. <br /><br /> 1. Fisher Island, Fla., 33109, Miami-Dade County<br /> Median sales price: $3.85 million<br /><br /> 2. Alpine, N.J., 07620, Bergen County<br /> Median sales price: $3.59 million<br /><br />3. Mill Neck, N.Y., 11765, Nassau County<br /> Median sales price: $3 million<br /><br /> 4. Newport Coast, Calif., 92657, Orange County<br /> Median sales price: $2.8 million<br /><br /> 5. Water Mill, N.Y. 11976, Suffolk County<br /> Median sales price: $2.72 million<br /><br />6. Atherton, Calif., 94027, San Mateo County<br /> Median home price: $2.7 million<br /><br /> 7. Santa Barbara, Calif., 93108, Santa Barbara County<br /> Median home price: $2.7 million<br /><br /> 8. Wainscott, N.Y., 11975, Suffolk County<br /> Median home price: $2.56 million<br /><br /> 9. Rancho Santa Fe, Calif., 92067, San Diego County<br /> Median home price: $2.47 million<br /><br /> 10. Beverly Hills, Calif., 90210, Los Angeles County<br /> Median home price: $2.41 million<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/">The New Most Expensive Zip Codes in America</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Wed, 08 Oct 2008 16:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1335179/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/08/the-new-most-expensive-zip-codes-in-america/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Beverly Hills</category><category>BeverlyHills</category><category>California</category><category>Fisher Island</category><category>FisherIsland</category><category>Florida</category><category>Forbes</category><category>Greenwich</category><category>Most expensive zip codes</category><category>MostExpensiveZipCodes</category><category>New York</category><category>NewYork</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Wed, 08 Oct 2008 16:02:00 EST</pubDate></item><item><title>World's 4th Richest Man Loses $28 Billion</title><link>http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/</guid><comments>http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/lakmittal.jpg" alt="" /><br />Indian steel tycoon <a href=" http://www.forbes.com/lists/2008/10/billionaires08_Lakshmi-Mittal_R0YG.html">Lakshmi Mittal</a>, 58, the richest man in Europe and the 4th richest man in the world, can now be known as the world's biggest loser after his net worth plummeted by a whopping $28 billion over the last four months due to the global financial crisis. Mittal, a London resident who paid a record $200 million for <a href=" http://www.telegraph.co.uk/news/uknews/2017147/Lakshmi-Mittal-to-pay-andpound117m-for-Britain's-priciest-home.html">a Georgian mansion</a> in Kensington Palace Gardens earlier this year, still has $17 billion left, the London <em>Times</em> <a href="http://www.timesonline.co.uk/tol/news/uk/article4882351.ece">reports</a>. We don't yet know how Mittal's stunning loss - which equates to $240 million / day or nearly $10 million per hour - re-positions him on the world's rich list as several other plutocrats have also suffered reversals, but it's safe to say he'll end up much further down unless the stock market recovers soon.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/">World's 4th Richest Man Loses $28 Billion</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Mon, 06 Oct 2008 17:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1333396/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/06/worlds-4th-richest-man-loses-28-billion/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Billionaires</category><category>Lakshmi Mittal</category><category>LakshmiMittal</category><category>London</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Mon, 06 Oct 2008 17:02:00 EST</pubDate></item><item><title>Millennial Hipsters Outpace Gen X in Buying Power</title><link>http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/</guid><comments>http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><a href="http://sf.curbed.com/uploads/8May08_Brick%20Lane%20hipsters.jpg"><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/10/hipsters(2).jpg" alt="" /></a><br />The new generation of twenty-something hipsters are <a href="http://www.forbes.com/style/2008/10/01/hipster-buying-power-forbeslife-cx_ls_1001style.html">creative, counterculture and serious consumers</a>. Part of their ability to support the indie brands they love (<a href="http://www.urbanoutfitters.com/urban/index.jsp">Urban Outfitters</a>, <a href="http://stevenalan.com/home.php">Steven Alan</a>) is due to parentage: these hipster-ish Millennials are baby boomer kids, and baby boomers boast annual spending power of $2 trillion, much of which goes to offspring wants and needs. And there are about 70 million Millennials -- about one and a half times the population of Gen X -- with their collective eye trained on <a href="http://www.viceland.com/int/dos.php"><em>Vice</em>'s Dos and Don'ts</a>.<br /><br />[via <a href="http://www.forbes.com/style/2008/10/01/hipster-buying-power-forbeslife-cx_ls_1001style.html">Forbes</a>]<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/">Millennial Hipsters Outpace Gen X in Buying Power</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Sat, 04 Oct 2008 10:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.forbes.com/style/2008/10/01/hipster-buying-power-forbeslife-cx_ls_1001style.html>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1332448/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/04/millennial-hipsters-outpace-gen-x-in-buying-power/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>baby boomers</category><category>BabyBoomers</category><category>buying power</category><category>BuyingPower</category><category>creative class</category><category>CreativeClass</category><category>hipsters</category><category>urban outfitters</category><category>UrbanOutfitters</category><dc:creator>Tracy Chait</dc:creator><pubDate>Sat, 04 Oct 2008 10:02:00 EST</pubDate></item><item><title>Even The Big Spenders Are Worried</title><link>http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/</link><guid isPermaLink="true">http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/</guid><comments>http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" alt=""  src="http://www.blogcdn.com/www.luxist.com/media/2008/10/83092960.jpg" /><br />What a difference a few months make, earlier this year, I attended the Luxury Summit and <a href="http://www.luxist.com/2008/04/20/blogging-from-the-luxury-summit-how-the-wealthy-spend-when-tim/">heard research from </a><a href="http://www.amexpub.com/">American Express Publishing</a> and<a href="http://www.harrisongroupinc.com/"> Harrison Group</a>. Now they've done a follow-up and the news is far grimmer. Their new research finds that   71 percent of America's affluent and wealthy consumers (10 percent of American families) say that real estate and banking crisis has affected their sense of financial security and the value of their assets. Now nearly 6 in 10 survey respondents are now worried about running out of money, including 48 percent of America's wealthiest families (a number up from 35 percent in April).<br /><br />In a survey conducted on September 19-23, 614 affluent individuals discussed how the recent economic turmoil is affecting their financial and spending plans and revealed that  75 percent of the respondents believe the country is now in a recession.  And how's this for a depressing fact, just fifty-five percent of the wealthy respondents are optimistic about their own future, down from 93 percent in 2005. Just one-quarter of respondents are now upbeat about the future of America while 60 percent were in 2005. This is big news for everyone because as Jim Taylor, vice chairman of Harrison Group points out, the top 10 percent represents over 50 percent of all retail spending. They are the ones who have kept the consumer economy afloat even as the middle class slowed spending dramatically.<br /><br />One bright note is that  20 percent of American families are reducing gift giving so that they can donate to charity this holiday season. People are shopping with more thought and an eye toward saving. Many now wait for sales and are buying less. It's not great news for the retailers but it does seem a smart tactic in this economy.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/">Even The Big Spenders Are Worried</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Thu, 02 Oct 2008 21:40:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1331824/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/10/02/even-the-big-spenders-are-worried/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>harrison group</category><category>HarrisonGroup</category><category>spending</category><category>wealth</category><dc:creator>Deidre Woollard</dc:creator><pubDate>Thu, 02 Oct 2008 21:40:00 EST</pubDate></item><item><title>London Loses World's Most Expensive Title to Monaco</title><link>http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/</guid><comments>http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/monacofromairexp.jpg" alt="" /><br />The Principality of <a href="http://www.luxist.com/tag/Monaco/">Monaco</a> has now overtaken <a href="http://www.luxist.com/tag/London/">London</a> as the world's most expensive luxury property market, with prices reaching approx. $7,000 per square foot. According to newly-released data, the average price of Monaco's most expensive houses and apartments rose 30% over the past year as opposed to only 1.8% in London, which has held the top spot for the last five years, Bloomberg <a href=" http://www.bloomberg.com/apps/news?pid=20601102&amp;sid=aSxpK.DsjlCU&amp;refer=uk">reports</a>. As we noted a few weeks back, Monaco is home to the <a href=" http://www.luxist.com/2008/09/04/the-worlds-10-richest-streets/">world's most expensive street</a>, Avenue Princess Grace in Monte Carlo, where apartments cost tens of millions. London meanwhile has seen a <a href=" http://www.luxist.com/2008/09/01/london-luxury-real-estate-down-for-1st-time-in-5-yrs/">steep decline</a> in its luxury market, which has even affected <a href=" http://www.luxist.com/2008/09/02/value-of-buckingham-palace-plummets-by-100-million/">Buckingham Palace</a> to the tune of a $100 million depreciation. The top 10 luxury property markets in the world are now ranked as follows: <br /><br /> 1.	Principality of Monaco<br /> 2.	London, England <br /> 3.	Cap Ferrat, French Riviera <br /> 4.	Courcheval, French Alps <br /> 5.	New York, USA <br /> 6.	Moscow, Russia<br /> 7.	Tokyo, Japan <br /> 8.	Hong Kong, China <br /> 9.	Sydney, Australia <br /> 10. Paris, France<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/">London Loses World's Most Expensive Title to Monaco</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Thu, 25 Sep 2008 09:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1321924/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/25/london-loses-worlds-most-expensive-title-to-monaco/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>London</category><category>Luxury real estate</category><category>LuxuryRealEstate</category><category>Monaco</category><category>Monte Carlo</category><category>MonteCarlo</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Thu, 25 Sep 2008 09:02:00 EST</pubDate></item><item><title>Pharrell Williams Rocks Two Rolls-Royces</title><link>http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/</guid><comments>http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wheels/" rel="tag">Wheels</a>, <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/pharrellrolls.jpg" alt="" />Musician, producer and designer <a href=" http://en.wikipedia.org/wiki/Pharrell_Williams">Pharrell Williams</a> needs not one but two <a href="http://www.luxist.com/tag/rolls-royce/">Rolls-Royces</a> to get around town - when he isn't driving one of his other supercars, that is. The producer of acts including Madonna, Justin Timberlake, <a href="http://www.luxist.com/tag/Kanye+West/">Kanye West</a> and Jay-Z bemoans the fact that the Rolls has become too popular with rappers, but says it still preserves some cachet. <br /><br /> "In the early days, the cars were rarities," Williams <a href=" http://www.motortrend.com/features/consumer/112_0809_pharrell_williams_celebrity_drive/index.html">tells <em>Motor Trend</em></a>. Now however, "They're kind of ubiquitous. [But] the saving grace is: It's still a Rolls. Every stitch and every tiny detail are brilliant. It's traditional and consistent quality. They spare nothing. Also, you can drive it just how you're feeling. It can be a luxury vehicle or you can really put your foot in it and it darts out like an arrow. I had a <a href="http://www.luxist.com/tag/Bentley/">Bentley</a> but it wasn't for me. At the end of the day, a Rolls is a Rolls."<br /><br />He likes 'em so much he has two, a Phantom for being chauffered in - ""I sit in the back and recline with my gold Blackberry, like Richie Rich" - and a <a href=" http://www.autoblog.com/photos/rolls-royce-phantom-drophead-coupe/119389/">Phantom Drophead Coupe</a> for driving himself, in black with a red leather interior. He also has a Mercedes-Benz <a href=" http://autos.aol.com/cars-Mercedes-Benz-SLR%20McLaren-2008/overview">SLR McLaren</a> and a <a href=" http://www.luxist.com/tag/Ferrari/">Ferrari Enzo</a>. As for the latter, "Man, you have to be in the mood to drive that," Williams tells the mag. "It's so fast, it's like being in a spaceship or a stealth bomber. And there's no radio, so I can't have any tunes. I love it but you really have to be in race car mode."<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/">Pharrell Williams Rocks Two Rolls-Royces</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Tue, 23 Sep 2008 19:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1319565/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/23/pharrell-williams-rocks-two-rolls-royces/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Bentley</category><category>Ferrari</category><category>Ferrari Enzo</category><category>FerrariEnzo</category><category>Mercedes-Benz</category><category>Pharrell Williams</category><category>PharrellWilliams</category><category>Rolls-Royce</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Tue, 23 Sep 2008 19:02:00 EST</pubDate></item><item><title>The Homes of America's Billionaires</title><link>http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/</guid><comments>http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/estates/" rel="tag">Estates</a>, <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/dukesemansbillion.jpg" alt="" /><br />As an adjunct to their just-released annual list of the <a href=" http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/">400 richest Americans</a>, <em>Forbes</em> has included a <a href=" http://www.forbes.com/2008/09/16/billionaires-homes-properties-forbeslife-400list08-cx_mw_0917realestate.html">special report</a> on the homes of some of the billionaires who made the cut. Capping the account is of course <a href="http://www.luxist.com/tag/Bill+Gates/">Bill Gates</a>, who tops the 400 with his $57 billion fortune. It's hard to say exactly how much his high-tech 66,000-sq.-ft. house on Lake Washington near Seattle is worth. The property includes a 60-foot swimming pool with an underwater music system, a domed library with two "secret" bookcase doors and a 1,000-square-foot dining room, the mag notes. <br /><br />Also featured: the historic seven-story <a href=" http://www.luxist.com/2006/01/10/duke-semans-mansion-sold/">Duke-Semans mansion</a> (above) in Manhattan owned by cab driver-turned-mogul <a href=" http://aol.forbes.com/lists/2008/10/billionaires08_Tamir-Sapir_R27K.html">Tamir Sapir</a> (net worth $1.9 billion), who bought it from Doris Duke's relatives for $40 million after a single walk-through. He's now said to be spending $10 million on renovations. And then there's Oracle co-founder <a href="http://www.luxist.com/tag/larry+ellison/">Larry Ellison</a>'s (net worth $27 billion) 23-acre estate in Woodside, Calif., "reminiscent of a 16th-century imperial Japanese palace" which reportedly cost over $100 million to build. You can see a slideshow of these megamansions and more <a href="http://www.forbes.com/media/2008/09/16/billionaires-homes-properties-forbeslife-400list08-cx_mw_0917realestate_slide_2.html?thisSpeed=15000&amp;boxes=custom">here</a>.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/">The Homes of America's Billionaires</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Tue, 23 Sep 2008 09:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1317257/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/23/the-homes-of-americas-billionaires/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Bill Gates</category><category>BillGates</category><category>Doris Duke</category><category>DorisDuke</category><category>Forbes</category><category>Larry Ellison</category><category>LarryEllison</category><category>New York</category><category>NewYork</category><category>Seattle</category><category>Tamir Sapir</category><category>TamirSapir</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Tue, 23 Sep 2008 09:02:00 EST</pubDate></item><item><title><i>Esquire</i> Names Abramovich One of Century's Most Influential</title><link>http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/</guid><comments>http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/abramesquire.jpg" alt="" /><em>Esquire</em> magazine has just named Luxist mascot <a href="http://www.luxist.com/tag/roman+abramovich/">Roman Abramovich</a> one of the 75 Most Influential People of the 21st Century. The honor comes on the heels of the lovably profligate oligarch's advancement to 8th place on <em>Vanity Fair</em>'s list of the world's 100 most powerful people, as <a href="http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/">we reported</a> earlier this month.<br /><br />The magazine cites Abramovich's rise from hawking rubber duckies at Moscow's open-air markets to a multi-billionaire oil kingpin, art collector extraordinaire, <a href=" http://www.luxist.com/2007/01/12/abramovich-plans-worlds-largest-yacht/">megayacht owner</a>, Putin confidant, and so on. <br /><br />Also landing slots on <em>Esquire</em>'s list, which appears in the October issue and is not ranked, are Sheikh Mohammed bin Rashid, ruler of <a href=" http://www.luxist.com/tag/Dubai/">Dubai</a> and one of the <a href=" http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/">world's richest royals</a>; luxury goods tycoon <a href=" http://www.luxist.com/tag/Bernard+Arnault/">Bernard Arnault</a>, chairman of LVMH; and provocative artist <a href=" http://www.luxist.com/tag/Jeff+Koons/">Jeff Koons</a>, whose work sells for millions.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/"><i>Esquire</i> Names Abramovich One of Century's Most Influential</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Sun, 21 Sep 2008 18:01:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1319463/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/21/i-esquire-i-names-abramovich-one-of-centurys-most-influentia/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>bernard arnault</category><category>BernardArnault</category><category>Dubai</category><category>Esquire magazine</category><category>EsquireMagazine</category><category>Jeff Koons</category><category>JeffKoons</category><category>roman abramovich</category><category>RomanAbramovich</category><category>russian billionaires</category><category>RussianBillionaires</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Sun, 21 Sep 2008 18:01:00 EST</pubDate></item><item><title>Who's Up, Down &amp; Out on New Forbes 400 Richest List</title><link>http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/</guid><comments>http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/gatesforbes40.jpg" alt="" /><br /><em>Forbes</em> just released its annual <a href=" http://www.forbes.com/lists/2008/09/16/richest-american-billionaires-lists-400list08-cx_mm_dg_0917richintro.html">Forbes 400</a> list of the richest Americans, and billionaire Microsoft founder <a href="http://www.luxist.com/tag/Bill+Gates/">Bill Gates</a> (above) is back on top after briefly ceding first place to <a href=" http://www.luxist.com/tag/warren+buffett/">Warren Buffett</a> this spring. Gates has a net worth of $57 billion as opposed to Buffett's $50 billion - $12 billion less than he had several months ago before Berkshire Hathaway's stock plummeted 15%. Buffett isn't the only one to suffer a major reversal. The year's biggest loser was Sands casino mogul <a href=" http://www.forbes.com/2008/09/15/400list08_all_slide_16.html?thisSpeed=30000">Sheldon Adelson</a>, No. 15, whose fortune fell $13 billion in the past 12 months - about $1.5 million per hour, <em>Forbes</em> notes - to $15 billion.<br /><br />Adelson's fellow casino kingpin <a href=" http://www.forbes.com/2008/09/15/400list08_all_slide_25.html?thisSpeed=30000">Kirk Kerkorian</a>, No. 27, was another underachiever, losing $6.8 billion this year. Still, they were both better off than the 33 moguls who fell off the list altogether due to declining fortunes. On the plus side, 31 new plutocrats moved up to take their places, including Facebook founder <a href="http://www.forbes.com/lists/2008/54/400list08_Mark-Zuckerberg_I9UB.html">Mark Zuckerberg</a>, 24, who makes his debut on the list with an estimated net worth of $1.5 billion. <br /><br />Other Forbes 400 first-timers include fertilizer tycoon Alexander Rovt, car dealer and art collector Norman Braman, and <a href="http://www.patronspirits.com/">Patr&oacute;n tequila</a> founder John Paul DeJoria. Meanwhile, New York City's billionaire mayor <a href="http://www.forbes.com/2008/09/15/400list08_all_slide_9.html?thisSpeed=30000"">Michael Bloomberg</a> was the year's biggest gainer, as his net worth jumped $8 billion to a total of $20 billion, snagging him the No. 8 position. Also worth noting among this year's stats: <br /><br /> The average net worth of Forbes 400 members is $3.9 billion.<br /> There are 42 women on the list with an average net worth of $4.2 billion.<br /> For the 2nd year in a row, the minimum net worth needed to make the list is $1.3 billion.<br /> The assembled net worth of the richest Americans rose by only 2%, or $30 billion, to $1.57 trillion this year. <br /><br /> See the complete list <a href=" http://www.forbes.com/lists/2008/09/16/richest-american-billionaires-lists-400list08-cx_mm_dg_0917richintro.html">here</a>.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/">Who's Up, Down &amp; Out on New Forbes 400 Richest List</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Fri, 19 Sep 2008 08:01:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1317624/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/19/whos-up-down-and-out-on-new-forbes-400-richest-list/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Bill Gates</category><category>BillGates</category><category>Billionaires</category><category>Forbes</category><category>Forbes 400</category><category>Forbes400</category><category>mark zuckerberg</category><category>MarkZuckerberg</category><category>Michael Bloomberg</category><category>MichaelBloomberg</category><category>Patron tequila</category><category>PatronTequila</category><category>sheldon adelson</category><category>SheldonAdelson</category><category>warren buffett</category><category>WarrenBuffett</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Fri, 19 Sep 2008 08:01:00 EST</pubDate></item><item><title>The Classicist: The Great Damien Hirst Debate</title><link>http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/</guid><comments>http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/auctions/" rel="tag">Auctions</a>, <a href="http://www.luxist.com/category/art/" rel="tag">Art</a>, <a href="http://www.luxist.com/category/the-classicist/" rel="tag">The Classicist</a>, <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="middle" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/hirstbillion.jpg" alt="" /><br />On the eve of a <a href=" http://men.style.com/news/blog/2008/08/bull-market.html">major auction</a> of his work at Sotheby's in London, <a href=" http://www.luxist.com/tag/damien+hirst/">Damien Hirst</a>'s manager says the controversial Brit artist has become a billionaire - while one of the world's foremost art critics says he's little more than a no-talent huckster. Hirst's business manager Frank Dunphy says he is now the "biggest dollar earner in the history of art" with a net worth of $1 billion, which would make him one of the richest men in the UK, the London <em>Times</em> <a href=" http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/visual_arts/article4692890.ece">reports</a>. <br /><br />Dunphy says that in addition to his art, Hirst has invested heavily in real estate, and now has so many properties he's lost track of the exact number, which he estimates at between 30 and 40. These include a $5 million country house in Gloucester and a couple of Georgian houses in London's chic <a href="http://www.luxist.com/tag/mayfair/">Mayfair</a> district. If accurate, the $1 billion figure means Hirst's wealth has been vastly underestimated to date. The London <em>Sunday Times</em> 2008 Rich List calculated his fortune at only $350 million. <br /><br />The <a href="http://www.luxist.com/2008/06/20/damien-hirsts-golden-calf/">Sotheby's sale</a> today is expected to bring in at least $120 million. And like <a href="http://www.luxist.com/tag/picasso/">Picasso</a>, Hirst says his signature alone is now worth a lot of money. "Someone in a gallery in New York told me the other day that my signature is worth $350," he <a href=" http://www.thisislondon.co.uk/standard/article-23553432-details/Even+my+signature's+worth+£200.+Does+that+make+me+the+new+Picasso/article.do">tells</a> the London <em>Evening Standard</em>. "It's actually something they can define. That means if I sign a check in a restaurant and it's for $250 the check is actually worth more than the bill comes to. On that level, yeah, maybe I am in the same position as Picasso. If you believe all that shit."<br /><br />One person who emphatically does not believe "all that shit" is world-renowned art critic <a href=" http://en.wikipedia.org/wiki/Robert_Hughes_(critic)">Robert Hughes</a>. He has labeled Hirst's work "absurd" and "tacky commodities" in a new art world documentary airing in the UK later this month, the London <em>Telegraph</em> <a href=" http://www.telegraph.co.uk/arts/main.jhtml?xml=/arts/2008/09/07/bahirst107.xml">reports</a>. Hughes singled out Hirst's famed shark in formaldehyde, entitled <em>The Physical Impossibility of Death in the Mind of Someone Living</em>, for particular criticism, calling it "the world's most overrated marine organism." <br /><br /> As we <a href=" http://www.luxist.com/2008/09/02/damien-hirst-sick-of-his-own-art/">reported</a> earlier this month, Hirst himself has said he's sick of some of the work he's become rich and famous for and plans to pursue other artistic avenues. In any case, Hirst has at least garnered the admiration of <em>Vanity Fair</em> which ranks him at No. 31 on their <a href=" http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/">new list</a> of the world's most powerful and influential people, putting him ahead of moguls like Sumner Redstone.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/">The Classicist: The Great Damien Hirst Debate</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Mon, 15 Sep 2008 09:00:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1306547/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/15/the-classicist-the-great-damien-hirst-debate/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Billionaire</category><category>British artists</category><category>BritishArtists</category><category>Damien Hirst</category><category>DamienHirst</category><category>London</category><category>Picasso</category><category>Robert Hughes</category><category>RobertHughes</category><category>Sothebys</category><category>Vanity Fair</category><category>VanityFair</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Mon, 15 Sep 2008 09:00:00 EST</pubDate></item><item><title>Russian Billionaire Debuts His Magazine for Snobs</title><link>http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/</guid><comments>http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/snobmagbill.jpg" alt="" />Back in April <a href=" http://www.luxist.com/2008/04/24/russian-tycoon-to-launch-magazine-for-snobs/">we reported</a> that Russian billionaire <a href=" http://en.wikipedia.org/wiki/Mikhail_Prokhorov">Mikhail Prokhorov</a> (right) was planning to spend $150 million launching a new magazine for snobs. Now the first issue of <em>Snob</em> is about to go on sale with a cover price of $18, but it isn't just a gaudy homage to the oligarch lifestyle as lived by Luxist mascot <a href=" http://www.luxist.com/tag/roman+abramovich/">Roman Abramovich</a> and his compatriots. <br /><br />"A close look at both the target audience and the contents of <em>Snob</em> show that it doesn't promote the free-spending, bling-drenched stereotype made famous across the world by <a href="http://www.luxist.com/tag/Russian+billionaires/">rich Russians</a> in recent years," the London <em>Independent</em> <a href=" http://www.independent.co.uk/news/world/europe/snob-magazine-tells-russians-if-youve-got-it-flaunt-it-but-subtly-929894.html">notes</a>. "While celebrating personal and financial success, it does so in a rather more restrained and worldly way." Too bad - we were kind of hoping for something a little more over-the-top.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/">Russian Billionaire Debuts His Magazine for Snobs</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Sun, 14 Sep 2008 16:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1313350/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/14/russian-billionaire-debuts-his-magazine-for-snobs/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Magazines</category><category>mikhail prokhorov</category><category>MikhailProkhorov</category><category>Russia</category><category>Russian billionaires</category><category>RussianBillionaires</category><category>Snobs</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Sun, 14 Sep 2008 16:02:00 EST</pubDate></item><item><title>Queen of England Far Behind UAE on Richest Royals List</title><link>http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/</guid><comments>http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img hspace="4" vspace="4" border="1" align="right" alt="" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/queenengthrone.jpg" />More bad news for the <a href=" http://www.luxist.com/tag/Queen+of+England/">Queen of England</a> - she has fallen to 12th place on Forbes' list of the world's <a href=" http://www.forbes.com/businessbillionaires/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royalintro.html">richest royals</a>. Earlier this month we reported that the value of her London residence, Buckingham Palace, had fallen by a whopping <a href=" http://www.luxist.com/2008/09/02/value-of-buckingham-palace-plummets-by-100-million/">$100 million</a> thanks to declining property values.<br /><br />Now Elizabeth II is suffering the added indignity of languishing on the rich list, as her measly $650 million fortune puts her well behind the UAE's oil-rich rulers. In the No. 1 spot for the first time is <a href=" http://www.forbes.com/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royal_slide_2.html?thisSpeed=30000">King Bhumibol Adulyadej</a> of Thailand, with a net worth of $35 billion, who apparently shot up the list as a result of admitting he was richer than previously thought. <br /><br />At No. 2 is <a href=" http://www.forbes.com/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royal_slide_3.html?thisSpeed=30000">Sheikh Khalifa bin Zayed Al Nahyan</a>, president of the UAE and hereditary ruler of Abu Dhabi, with a net worth of $23 billion. No. 3 is <a href="http://www.forbes.com/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royal_slide_4.html?thisSpeed=30000">King Abdullah bin Abdul Aziz</a> of Saudi Arabia, worth $21 billion. And <a href=" http://www.forbes.com/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royal_slide_6.html?thisSpeed=30000">Sheikh Mohammed bin Rashid</a>, ruler of Dubai, clocks in at No. 5 with $18 billion. See the complete list <a href=" http://www.forbes.com/businessbillionaires/2008/08/20/worlds-richest-royals-biz-richroyals08-cz_ts_0820royalintro.html">here</a>.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/">Queen of England Far Behind UAE on Richest Royals List</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Thu, 11 Sep 2008 18:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1307455/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/11/queen-of-england-far-behind-uae-on-richest-royals-list/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>abu dhabi</category><category>AbuDhabi</category><category>buckingham palace</category><category>BuckinghamPalace</category><category>Dubai</category><category>King Abdullah bin Abdul Aziz</category><category>King Bhumibol Adulyadej</category><category>KingAbdullahBinAbdulAziz</category><category>KingBhumibolAdulyadej</category><category>Queen Elizabeth II</category><category>Queen of England</category><category>QueenElizabethIi</category><category>QueenOfEngland</category><category>Royalty</category><category>Saudi Arabia</category><category>SaudiArabia</category><category>Sheikh Khalifa bin Zayed Al Nahyan</category><category>Sheikh Mohammed bin Rashid</category><category>SheikhKhalifaBinZayedAlNahyan</category><category>SheikhMohammedBinRashid</category><category>Thailand</category><category>UAE</category><category>united arab emirates</category><category>UnitedArabEmirates</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Thu, 11 Sep 2008 18:02:00 EST</pubDate></item><item><title>Abramovich Climbs <i>Vanity Fair</i>'s Most Powerful List</title><link>http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/</guid><comments>http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><img hspace="4" vspace="4" border="1" align="right" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/abramovflist.jpg" alt="" />Free-spending Russian billionaire and Luxist mascot <a href=" http://www.luxist.com/tag/roman+abramovich/">Roman Abramovich</a> has soared to No. 8 on this year's <a href=" http://www.vanityfair.com/online/newestablishment/"><em>Vanity Fair</em> 100</a>, aka the magazine's annual "New Establishment" list of the world's most powerful and influential people. That's a big jump for the <a href=" http://www.vanityfair.com/online/newestablishment/2008/09/roman-abramovich.html">oligarch</a>, who only ranked 20th on last year's list. <br /><br />Aside from his impressive <a href=" http://www.luxist.com/2008/05/19/roman-abramovich-last-weeks-big-art-spender/">art</a> and <a href=" http://www.luxist.com/2008/05/07/abramovich-picks-up-wildcat-ridge/">real estate</a> acquisitions, VF notes that Abramovich is also getting more involved in Russian politics. Although he resigned a regional governorship in July, Abramovich plans to run for an even higher profile political post next month. <br /><br />Elsewhere on the just-released list, Abramovich's pal Vladimir Putin has captured this year's No. 1 spot, while power couple <a href=" http://www.luxist.com/2008/07/02/angelina-jolie-and-brad-pitt-donate-one-million-dollars/">Brad Pitt and Angelina Jolie</a> are ranked at an eye-opening No. 9, ahead of Michael Bloomberg and Steven Spielberg. Check out the complete list <a href="http://www.vanityfair.com/online/newestablishment/">here</a>.<p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/">Abramovich Climbs <i>Vanity Fair</i>'s Most Powerful List</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Wed, 10 Sep 2008 19:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.vanityfair.com/online/newestablishment/>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1303645/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/10/abramovich-climbs-i-vanity-fair-i-s-most-powerful-list/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>Angelina Jolie</category><category>AngelinaJolie</category><category>Brad Pitt</category><category>BradPitt</category><category>roman abramovich</category><category>RomanAbramovich</category><category>Russian billionaires</category><category>RussianBillionaires</category><category>Vanity Fair</category><category>VanityFair</category><category>Vladimir Putin</category><category>VladimirPutin</category><dc:creator>Jared Paul Stern</dc:creator><pubDate>Wed, 10 Sep 2008 19:02:00 EST</pubDate></item><item><title>Wife of Washington Lobbyist Uses Money as Wrapping Paper</title><link>http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/</link><guid isPermaLink="true">http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/</guid><comments>http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.luxist.com/category/wealth/" rel="tag">Wealth</a></p><a href="http://blogs.wsj.com/wealth/2008/08/26/plutocrat-lesson-no-4-how-to-wrap-gifts-in-dollar-bills/"><img hspace="4" vspace="4" border="0" align="middle" alt="" src="http://www.blogcdn.com/www.luxist.com/media/2008/09/moneywraprct.png" /></a><br />When it comes to gifts usually it's what's on the inside that counts, but that's not necessarily the case for the gifts Edwina Rogers gives -- <a href="http://www.trendhunter.com/trends/expensive-gift-giving-real-currency-wrapping-paper">she wraps her presents in money</a>. Uncut sheets of real, government-issued, dollar bills.<br /><br />The wife of Washington lobbyist Ed Rogers gets the money sheets from the <a href="http://www.moneyfactory.gov/">United States Bureau of Engraving</a> (you can order them for yourself <a href="http://www.moneyfactory.gov/store/section.cfm/69">here</a>) and then slices and dices as you would any wrapping paper to best fit the gift and get the best pattern on the front of the package (in this case it's lining up Washington's face just right). No matter that she regularly cuts several bills in half in the process, to be frugal she sticks to the dollar paper and only uses it to wrap "small" gifts. <br /><br />A sheet of money paper consisting of 32 $1 bills sells for <a href="http://www.moneyfactory.gov/store/section.cfm/69/83">$55</a>.<br /><br />Via <a href="http://www.trendhunter.com/trends/expensive-gift-giving-real-currency-wrapping-paper">Trendhunter</a><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/">Wife of Washington Lobbyist Uses Money as Wrapping Paper</a> originally appeared on <a href="http://www.luxist.com">Luxist</a> on Mon, 08 Sep 2008 18:02:00 EST.  Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://blogs.wsj.com/wealth/2008/08/26/plutocrat-lesson-no-4-how-to-wrap-gifts-in-dollar-bills/>Read</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/forward/1306732/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.luxist.com/2008/09/08/wife-of-washington-lobbyist-uses-money-as-wrapping-paper/#comments" title="View reader comments on this entry">Comments</a><br />]]></description><category>dollar</category><category>dollar bills</category><category>DollarBills</category><category>dollars</category><category>edwina rogers</category><category>EdwinaRogers</category><category>money</category><category>money sheets</category><category>MoneySheets</category><category>sheets</category><category>washington</category><category>wrap</category><category>wrapping</category><category>wrapping paper</category><category>WrappingPaper</category><dc:creator>Rigel Celeste</dc:creator><pubDate>Mon, 08 Sep 2008 18:02:00 EST</pubDate></item></channel></rss>