What billionaires do on the internet?

Believe it or not.  They did it!

They are not only the first.  They break records

In 2006

Russian billionaire Roman Abramovich bought a
$168 million Gigiyacht on eBay

Did You Know

In 2006, Russian billionaire and owner of Chelsea Football club, Roman Abramovich bought the $168 million Gigayacht on eBay, an online auction site. He paid 50% downpayment for the yacht, amounting to $85 million.

The $168 million Gigayacht is designed by Navy Architect, Frank Mulder.  It comes with 10 VIP Suites, a movie theatre, helicopter pad, a 3,000 square feet master suite and is 405 feet long.

The $168 million Gigayacht is the most expensive item ever sold on eBay and the internet.

Maybe they don’t have time to pay the showroom a visit.

In 1999

American billionaire Mark Cuban bought a
$40 million private jet online

Did You Know

In 1999, American billionaire Mark Cuban bought a $40 million private jet online. He bought the $40 million Gulfstream V private jet on the internet. The purchase was recorded as the 1999 Guinness Record of “the largest single e-commerce transaction”.

Mark Cuban is an American billionaire and owner of NBA team Dallas Mavericks. In 1999, he sold his company Broadcast.com to Yahoo for $5.9 billion.

The $40 million Private Jet is one of the most expensive item ever sold on the internet.

What billionaires do?

Believe it or not.  That’s why they are billionaires!

How billionaires select their private banks or private bankers?  Some don’t.

In 2017

Lenovo founder Liu Chuan Zhi 
bought a European Private Bank for $1.76 billion

Did You Know

In 2017, Chinese billionaire and Lenovo founder Liu Chuan Zhi bought a European Private Bank for $1.76 billion. He bought 89.93% of Banque Internationale à Luxembourg (BIL), a leading universal banking group headquartered in Luxembourg.  The minority share of 9.993% is owned by the Grand Duchy of Luxembourg.

Liu Chuan Zhi is a Chinese billionaire and founder of Legends Computer (1984). In 2004, the company changed the English name to Lenovo and acquired IBM’s global PC business in 2004, growing the brand into a global leader. His daughter is Jean Liu, the President of Didi Chuxing, China’s largest ride-hailing company.

The $1.76 billion Private Bank is a rare successful purchase of a Private Bank made by an individual in recent decades.

Do what successful entrepreneurs do … …

Which private equity or private bank billionaires put their money in?

In 2010 & 2017

Chinese billionaire & Alibaba founder Jack Ma 
with a fortune of $40 billion* started his
Private Equity and Wealth Management firm.

Did You Know

In 2010, Chinese billionaire and Alibaba founder Jack Ma  (net worth: $40 billion*), and David Yu (founder of Target Media), started their own private equity firm – Yunfeng Capital. The private equity firm invests into Technology, Media and Telecommunication (TMT), Consumer Products & Healthcare. Their portfolio includes several unicorn companies (>$1 billion valuation) including Ant Financial, Xiaomi, Cainiao and CATL.

In 2017, Jack Ma & founding shareholders of Alibaba and a few senior bankers started DC Wealth Group in Hong Kong.  The group focuses on providing Family Offices, External Asset Management and Wealth management services.  Their business includes Wealth Management, Insurance Consulting, Asset Management, Trust and Fiduciary Services.

Jack Ma with $40 billion* fortune, continues trends of successful entrepreneurs to build their own financial firms.

*Fortune of $40 billion in 2018/2019