What Do Billionaires Have in Common? Big Bucks, and Not Much Else

The Times discusses what billionaires have in common, finding that other than money they don’t have a lot in common. Their article begins as follows:

What do Larry Ellison and Ingvar Kamprad have in common? They are both billionaires. But that may be one of the few characteristics they share.

Billionaires may have enormous spending potential, but they certainly exercise that power differently. Some live lavishly and enjoy being in the headlines, while others live frugally, if not anonymously. There are big spenders and those who give it away.

Mr. Ellison, a founder of Oracle and its executive chairman, owns most of the 140-square-mile Hawaiian island of Lanai, after buying 88,000 acres in 2012 with plans to create a sustainable, eco-friendly resort. He also likes expensive racing yachts.

His fellow billionaire Richard Branson, founder of the Virgin Group, bought 74-acre Necker Island in the Caribbean in 1979. It operates as a private luxury resort, with room for 34 adults and six children at about $2,300 each per night. He also bought nearby Mosquito Island in 2007, the site of former President Barack Obama’s recent vacation.

See full article at: What Do Billionaires Have in Common? Big Bucks, and Not Much Else – The New York Times

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.