The Homeless Billionaire

Topics: Real estate, Pablo Picasso, Referendum Pages: 2 (515 words) Published: September 12, 2013
The Homeless Billionaire

Nicholas Berggruen is a businessman who chooses to live simple life, and he started out with a trust fund of $250,000.00. According to his privately held holding company’s annual revenue of $5 billion throws off $250 million in earning each year. He has a personal worth of $2.5 billion. Not too simple in my opinion.

Nicholas Berggruen spends his life turning companies around, donating and offering help to worthy projects. He travels the world in his private jet living out of hotels as opposed to a permanent residence. He stated he did not want to be weighed down with physical possessions. He keeps some things in storage but very little. He often stays in five star hotels, when in London the Claridge’s, in New York the Carlyle, and in Los Angeles the Peninsula Beverly hills. Thus, why he is called the homeless billionaire. His offices are also based in Beverly Hills.

He can afford to live like this because he owns more than 30 companies, including an Australian farming operation, a British life insurer, a Portuguese book publisher, a German department store chain, and real estate development projects in Turkey, Israel, India, and Newark, N. J. He has lived a remarkable life. He speaks three languages, and has dual citizenship. His dad, Heinz was a personal friend with Pablo Picasso and a famous art collector with one of the largest Picasso collections where they were displayed in the Berggruem Museum.

Nicholas studied finance in New York University. Shortly after graduation he took his savings and his trust fund and began buying bonds, real estate property, and hotel chains. With doing this he was able to found Berggruen Holdings. After that he decided to sell his residential properties and began using his jet to get around and live out of hotels. He thought it made since traveling with a small bag of clothes and his Blackberry because he was often out of town. Throughout July and August he may...

Cited: Bloomberg Businessweek; Tue, Oct 2, 20212; By David Leonard; (Deep Thoughts With the Homeless Billionaire)
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