Understand the wealthy through their STUFF. John Baldessari has taken our request for a list of 10 things he owns and loves as a challenge. His response was to send us Forbes list of the ten people who have a whole shitload of stuff.]
#1
Carlos Slim Helu & Family, Net Worth $73 Billion
Carlos Slim's Yacht
- Honorary Chairman, América Móvil
- Age: 73
- Source of Wealth: telecom, self-made
- Country of Citizenship: Mexico
Carlos Slim Helu is the world’s richest man for the fourth year in a row. He clocks in at $4 billion more than a year ago, thanks to surging stock prices at his financial arm, Grupo Financiero Inbursa, and at his Grupo Carso industrial and retail giant. Pan-Latin American mobile telecom outfit America Movil remains his most valuable holding at $36.3 billion; the company spread its wings to Europe in the past year, buying pieces of Dutch telecom company KPN and Telekom Austria. Other listed companies focus on mining, real estate and infrastructure. Slim does not hold an executive position at any of the companies he controls, but remains engaged and advises on strategy. He put his sons, Carlos, Marco Antonio and Patrick, in charge of the industrial, finance and telecom companies he controls.In September America Movil bought stakes in two Mexican professional soccer teams; in November Slim bought a majority of struggling Spanish soccer team Real Oviedo.
2
Bill Gates, Net Worth $67 Billion
Bill Gates Yacht
- Co-Chair, Bill & Melinda Gates Foundation
- Age: 57
- Source of Wealth: Microsoft, self-made
- Country of Citizenship: United States
Bill Gates’ net worth increased $6 billion to $67 billion in the past year – with no help from the company he cofounded, Microsoft, in which he still has a 5% stock. Most of his fortune these days is spread across private equity, bonds, and stocks like hygiene tech firm Ecolab, Mexican TV broadcaster Televisa, and Latin America’s largest beverage company FEMSA. In February, Gates said the only thing left on his bucket list was, “Don’t die.”
3
Amancio Ortega, Net Worth $57 Billion
Amancio Ortega's Yacht
- Age: 77
- Source of Wealth: Zara, self-made
- Country of Citizenship: Spain
Spain’s Amancio Ortega is the year’s biggest gainer, up $19.5 billion. He moves into the top three among the world’s richest for the first time. He stepped down as chairman of Inditex, best known for its Zara brand, in 2011, but still owns nearly 60% of its shares, which soared 50% year-over-year on record profits. Ortega also has a real estate portfolio, much of it acquired at bargain prices during the financial downturn, estimated to be worth more than $4 billion. Among his properties: the iconic Torre Picasso, a 43-story skyscraper in Madrid (Google is a tenant), which he purchased from billionaire Esther Koplowitz in 2011. He also owns buildings in Madrid, London, Chicago, San Francisco and New York.
4
Warren Buffett, Net Worth $53.5 Billion
Warren Buffett's Yacht
- CEO, Berkshire Hathaway
- Age: 82
- Source of Wealth: Berkshire Hathaway, self-made
- Country of Citizenship: United States
Warren Buffett struck again in February, announcing a deal with Brazilian billionaire Jorge Paulo Lemann’s 3G Capital to snap up iconic ketchup producer H.J. Heinz Co. for $23.2 billion. It wasn’t the only deal for Buffett’s Berkshire Hathaway lately. In November 2012 Berkshire acquired Omaha-based party supplier Oriental Trading Co. and in December 2012 the company purchased $1.2 billion of its own stock from “the estate of a longtime shareholder.” In December 2011 he chose his farmer son, Howard, as the future non-executive chairman and “guardian of the firm’s values.” In February 2012 he said he’d picked his CEO replacement but has declined to give a name.
5
Larry Ellison, Net Worth $43 Billion
Larry Ellison's Yacht
- CEO, Oracle
- Age: 68
- Source of Wealth: Oracle, self-made
- Country of Citizenship: United States
In the past year, Larry Ellison, America’s third richest man, has been on a real estate buying spree. In June, he bought 98% of the Hawaiian island of Lanai from David Murdock. That purchase, for a reported $500 million or more, gave Ellison almost all of the 141-square mile island, including two resort hotels and a housing development. Adding to his real estate purchases, Ellison has also been active in the Los Angeles mansion market, purchasing two Malibu homes in October and January for a combined $55 million. As of February, his shares of Oracle are up more than 20% year-over-year. Most recently, Ellison, long an admirer of NBA basketball franchises, was rumored to be exploring a deal to purchase the Sacramento Kings to prevent them from moving to Seattle. Ellison’s other passion, yachting, will make its way into San Francisco this year as the 2013 America’s Cup race lands in the city.
6
Charles Koch, Net Worth $34 Billion
Charles Koch's Yacht
- CEO, Koch Industries, Inc.
- Age: 77
- Source of Wealth: diversified
- Country of Citizenship: United States
The world’s sixth-richest person (tied with brother David) built his fortune around refining and chemicals, the right places to be last year amid falling natural-gas prices and recovering demand. Koch Industries, with an estimated $115 billion in sales, climbed more than $20 billion in value, mostly on surging refining profits but also improving operations at Koch’s large Georgia-Pacific unit. Things didn’t go so well on the political front: Charles, a die-hard libertarian, failed in his quest to unseat President Barack Obama as president.
7
David Koch, Net Worth $34 Billion
David Koch's Yacht
- Executive Vice President, Koch Industries, Inc.
- Age: 73
- Source of Wealth: diversified
- Country of Citizenship: United States
Tied with older brother Charles as the world’s sixth-richest person, David runs the chemical equipment side of Koch Industries from his home in New York. His wealth climbed $9 billion last year, mostly on surging refining and chemical profits as the price of natural gas, an important feedstock, fell. More active than Charles in politics, he bet a lot on ejecting Barack Obama from the White House and lost — “bitterly disappointing,” he told Forbes in an interview after the election — but he isn’t giving up on his project to drive down government spending and increase economic freedom. “We’re not going to roll over and play dead,” he told Forbes.
8
Li Ka-sheng, Net Worth $31 Billion
[Oh My God, Look How Happy He Is]
Li Ka-Sheng's Yacht
- Chairman, Hutchison Whampoa
- Age: 84
- Source of Wealth: diversified, self-made
- Country of Citizenship: Hong Kong
Asia’s richest person Li Ka-shing added $5.5 billion to his fortune as shares of his biggest holdings, Cheung Kong, Hutchison Whampoa and Husky Energy, all jumped 10% or more. He scooped up another $860 million in dividends in 2012. At age 84, Li still oversees one of the world’s most far-reaching empires with 260,000 employees in 52 countries. Li controlled companies bought British gas supplier Wales & West Utilities for $1 billion in October; his third utilities acquisition in the U.K. in 24 months. He now supplies gas to a quarter of all Brits. Last summer Li officially announced his succession plans, positioning his elder son Victor to take over management and control of the publicly traded assets. Son Richard, also a billionaire who runs his own businesses, will get cash and help on deals. The elder Li is also an investor in Facebook, Spotify, social TV platform Stevie, Kaiima, Everything.Me and Hola.org Kaiima, Everything.Me and Hola.org.
9
Lillian Bettencourt & Family, Net Worth $30 Billion
Liliane Bettencourt's Yacht
- Age: 90
- Source of Wealth: L’Oreal
- Country of Citizenship: France
At age 90, Liliane Bettencourt is the world’s richest woman, and returns to the top ten wealthiest for the first time since 1999. She and her family own more than 30% of L’Oreal, which her father founded. They’ve gotten far richer this year, thanks to a boost in the French cosmetics powerhouse’s stock. However she had her fortune placed under the guardianship of her daughter Francoise Bettencourt-Meyers in 2011 following a very public three-year legal battle. The elderly widow, who suffers from dementia, was replaced on the company’s board by her 25-year-old grandson Jean-Victor Meyers in February 2012. The family has waged numerous legal battles against one another. In 2008, Bettencourt-Meyers petitioned courts to investigate a reported $1 billion in cash and gifts her mother allegedly gave to a friend, Francois-Marie Banier, a well-known photographer, writer and painter. Francoise claimed, and Liliane hotly denied, that Banier had taken advantage of her mother.
10
Bernard Arnault & Family, Net Worth $29 Billion
Bernard Arnault's Yacht
- Chairman and CEO, LVMH Moet Hennessy Louis Vuitton
- Age: 64
- Source of Wealth: LVMH
- Country of Citizenship: France
The world’s most influential tastemaker, Bernard Arnault fell from No. 4 in the world to No. 10 not because his luxury goods powerhouse LVMH dropped in value – its shares were up 6% in fact – but due to more information on his ownership stake and a revised valuation method. Another factor: His fortune is mostly held in Christian Dior, which has a 41% stake in LVMH and trades at a near 20% discount to the underlying shares. Arnault denied reports that his request for Belgian citizenship last year was related to the country’s tax regime, but it nevertheless sparked a debate about France’s taxes on the rich. He is opening his new museum, the Louis Vuitton Foundation for Creation, designed by Frank Gehry, by the end of this year.
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