How We Live Now
dollar dollar bill y'all
Not so long ago, developers focused their energies on building expansive condos for Wall Street executives and trust funders, corporate lawyers and movie stars, stuffing them full of Bosch and Viking and Miele, en-suite marble baths and heated herringbone floors. Now it seems like the only buyers they care about potash magnates, casino kings and Eastern European oligarchs.
Mayor Michael Bloomberg just can’t seem to stop heaping praise on his fellow billionaires when discussing the issue of income inequality.
A Brush with a Brant
How has your week been? Ours has been kind of meh. But you know who is having the most excellent mid-February? Houston restaurant honcho Tilman Fertitta.
Mr. Fertitta’s publicist—one of Mr. Fertitta’s publicists?—reached out to The Observer to let us know that Mr. Fertitta has been enjoying an awesome week. Unlike some billionaires, Mr. Fertitta does not just buy a $19.5 million condo and throw in the towel. No way. He also opened a Last Vegas restaurant with his business partner Eva Longoria (quite an improvement over the overweight middle-aged men who usually fill out the business partner category) and hosted a lavish Gulf-coast Mardi Gras party featuring a performance by Kool & the Gang. And there are pictures!
More Rubles Than You Know What To Do With
Despite that Harry Brant has barely cleared puberty, the social-buzzing, babygay spawn of model Stephanie Seymour and billionaire media/art/real estate tycoon Peter Brant, has a busy schedule that rivals those of Paris Hilton and Olivier Zahm. This past Friday at Emporio Armani’s 601 Madison Avenue boutique opening, we approached the 16-year-old high school sophomore to find why is he out socializing with Roberta Armani, Luigi Tadini, Ms. Hilton, Ricky Martin, Ryan Lochte, artist Rashaad Newsome, Anna dello Russo and Kate Lanphear, when he should probably be cracking those Algebra books.
“What have you been up to today?” we asked.
“I went to Rag & Bone. I liked it,” replied Mr. Brant, smiling profoundly.
Buyers are already starting to despair when it comes to finding ultra high-end New York properties, especially after casino king Steve Wynn reportedly snagged the $77.5 million duplex penthouse at the Ritz-Carlton.
And in the future, the market may get even tighter for buying-crazed billionaires, with a new crop of Russians and Ukrainians eager to snap up trophy properties, a new CNBC video warns.
Every month The Observer receives a copy of Bloomberg Markets magazine. This month, a glance at the cover story of the January 2012 issue, which touts “Advice from Billionaires, Stock Pickers and Economists,” produced an overwhelming sensation of déjà vu. We looked at our back issues and had a revelation: the word “billionaire” is to the cover of Bloomberg Markets what “sex” is to Cosmopolitan.
Billionaire Boys Club
Observer readers may have lately noticed a new column by the Tuscan-born Four Seasons owner Julian Niccolini, who has referred to himself as a “restaurateur, actor, beekeeper, journalist and winemaker.” So far, Mr. Niccolini has written just like he runs his restaurant: with well-combed, neatly pinstriped, slightly demented glee. This reporter spent time with Read More
On Oct. 28, Mikhail Prokhorov, the billionaire owner of the New Jersey Nets, threw a lavish launch party in Chelsea to celebrate the arrival of Snob magazine in New York. The event was complete with foie gras and a performance by jazz songstress Cassandra Wilson. Some have criticized Prokhorov for bringing a Russian-language Read More
Rich Get Richer
In a rant of ever-increasing craziness, Charlie Munger, the 86-year-old Berkshire Hathaway billionaire who squirms at the thought of charitable giving, says everyday Joes should be grateful for the 2008 government bank bailouts.
Bloomberg reports that Munger, speaking at the University of Michigan last week, said that people who’re suffering in the Read More
As Oprah Winfrey moves into the next phase of her career with the launch of the Oprah Winfrey Network, which debuts at the beginning of next year, she is taking her net worth—some $2.4 billion—and investments more seriously.
The Wall Street Journal reports that Ms. Winfrey has hired Peter Adamson to manage her Read More