Subscribe Now

travelers today

Home » Leisure

Homeless Billionaire Nicolas Berggruen: Travels Around the World but Refuses to Own or Rent a Home

Travelers Today       By    Lena Vazifdar

Updated: Oct 03, 2012 02:35 PM EDT

Text Size: A A A

Nicolas Berggruen
Nicolas Berggruen is known as the homeless billionaire. (Photo : Reuters)

Nicolas Berggruen is billionaire who doesn't own a home or rent an apartment. Essentially he is homeless. Bloomberg Business Week reported that twelve years ago Berggruen sold his apartment on the 31st fllor of Pierre Hotel in Manhattan as well as his house on a private island near Miami saying he did not want the material possessions.

Now, instead of renting a luxury pad Berggruen, 51, jet-sets around the world staying in the world's finest hotels. The Daily Mail reported he doesn't even own a car or even a watch and his possessions are at a bare minimum, except for his private jet, the Gulfstream IV.

Share This Story

He said to The Daily Mail: "I have always spent a lot of time in hotels, so it started to seem easier to do this. I feel happier. I am not that attached to material things. And the good thing is I can make choices. I have very few possessions. Luckily, as a man you don't need much... a few papers, a couple of books, and a few shirts, jackets, sweaters. It fits in a little thing, in a paper bag, so it's very easy."

Bloomberg Business News reported that when he travels he stays in the choicest hotels. In New York he's at the Carlyle, in London it's Claridges. While in LA he stays at the Peninsula Beverly Hills.

His lifestyle is obviously atypical of an actual homeless person, having the luxury to stay in the nicest hotels in the world and fly around the globe on his extravagant jet. Berggruen can afford to live this jet setting lifestyle because of his company Berggruen Holdings which is a New York based private equity firm. Bloomberg Business News reported that the firm "buys troubled companies and fixes them up. Currently it owns more than 30, 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. According to its website, the privately held holding company's annual revenue is $5 billion. It throws off $250 million in earnings each year."

Bloomberg Markets also estimated that the billionaire has a net worth $2.5 billion.

Berggruen is single and doesn't have any children thus allowing him to relish in a lifestyle as such. According to The Daily Mail, Berggruen purchases world-class artwork from the likes of Damien Hirst and Andy Warhol for the sole purpose of giving them away to museums.

Berggruen grew up in Paris with an art collector father. He then moved to London and New York to study later in life and in 1988 co-founded the hedge fund Alpha Investment Management which was then sold.

He said to The Daily Mail that having material possessions made him feel weighed down. "I felt I was owned by ­possessions. Possessing things is not that interesting. Living in a grand environment to show myself and others that I have wealth has zero appeal. Whatever I own is temporary, since we're only here for a short period of time. It's what we do and produce, it's our actions that will last forever. That's real value."

Read related articles:

Gigi Chao: Hong Kong Billionaire, Cecil Chao Sze-tsung Offers $65 million to Marry Lesbian Daughter
Ty Warner, Beanie Baby Billionaire, Gives $20,000 Donation to Stranger Who Gave Him Directions

© 2014 Traverlers Today, All rights reserved. Do not reproduce without permission.
Featured Video : Greenwich
Join Our Conversation
Don't Miss..
JEFFREYSDAVIS_ANIM
Travel Tips The Modern Guide To Tipping

Tips on Tipping: How to Tip in Foreign Countries

Basic tips on tipping in foreign countries.

Trending News Yosemite Clibming Fall Incident Prompted The Use Of A Helicopter In A Rescue Mission

Yosemite Clibming Fall Incident Prompted The Use Of A Helicopter In A Rescue Mission

Yosemite climbing fall incident that occurred on Sunday has brought terror and unbearable pain to the unlucky climber.

Travel Tips I Didn't Know That : The London Tube

Secrets of the Underground: Top 10 Tips For Riding The London Tube

Top 10 Tips For Riding The London Tube

Leisure Umami Burger

Umami Burger [PHOTOS]: Craved By Mila Kunis In Burbank. What Is In This Burger That Makes Even Stars Crave For Its Taste?

Umami Burger with Ashton Kutcher, that’s what Mila Kunis had in her agenda on April 12, Saturday night while in one of her pregnancy cravings.

News Mount Everest

Mount Everest Deaths: Avalanche Kills 9 People, While 3 Are Injured And 9 Still Missing. What Happened?

Mount Everest deaths from the avalanche Friday, April 18 reached 9 people already.

Travel Tips Seychelles beach

Beach: Top 5 Summer Essentials for Women

Here's the top 5 beach essentials you need to make your day awesome and problem-free.

News Auburn University

Auburn University Bomb Threat Update: "Threatening Message" Sparks Chaos In A University In Alabama

Auburn University bomb threat in Alabama had school officials cancelling classes on Wednesday.

News bees

Allegiant Air Flight Forced to Turn Back to Las Vegas After Hitting Swarm of Bees

An Allegiant Air flight from Las Vegas to Duluth, Minn., was forced to turn back to Sin City because it hit a swarm of bees, which caused a terrible smell to fill the plane.

Travel Tips An Alitalia plane approaches to land at Fiumicino International Airport in Rome September 25, 2008.

Memorial Day Weekend 2014: The Best Days to Fly During Holiday Weekend

Memorial Day will be here before you know it and that means it's time to start planning your trips for the holiday weekend and Travelocity is helping travelers make plans that could save them money.

News Allegiant Airlines

Allegiant Air Offers Giant Seats at 25 Inches Wide on Select Flights to Hawaii and the Western U.S.

The airline has added extra large seats to some economy rows on Boeing 757 planes that make long-haul flight.

News Boston Marathon

Boston Marathon Qualifying Times: How To Get Into The 2014 Boston Marathon And What Happens Now With Stricter Security

With the Boston Marathon bombing incident last year, stricter security is enforced and most probably stricter enforcement of the Boston Marathon Qualifying Times.

Travel Tips John W. Schulze

Travel Airfare: Top 5 Tips On Searching The Best Airfare For Your Vacation

Travel airfare, despite hundreds of promos available, isn’t all they’re cracked up to be. On the one hand, some routes are still higher than they were in previous years, and some even keep getting higher.

ADVERTISEMENT

Travel Tips

Naomi Coleman, Sri Lanka Tourist with Buddha Tattoo

Sri Lanka Tourist With Buddha Tattoo To Be Deported [PHOTOS]: “Oh, This Is A Big Problem In Sri Lanka, You've Got A Buddha Tattoo”. This Is Why Culture Research Is A Must For Every Traveler

Sri Lanka tourist with Buddha tattoo will be deported from the country after she was arrested Monday at Bandaranaike International Airport. Naomi Coleman, the British tourist who was arrested, was set on enjoying her travel in Sri Lanka. However, the Sri Lanka tourist with Buddha tattoo will be deported any time soon from the country because of the Buddha tattoo on her arm.

Subscribe to our newsletter

Receive the latest travel news, reviews, and more..

Want more Travel?

Most Popular

Florida Sinkhole Swallows Family Yard, Driveway Hours After It Was Completely Filled In [+VIDEO]

Florida Sinkhole Swallows Family Yard, Driveway Hours After It Was Completely Filled In [+VIDEO]

A Florida sinkhole has swallowed a family yard and their driveway just hours after the large ground hole was completely filled in. Authorities now fear that if sinkholes in the area continue to be a big problem, local residents will be requested to evacuate their homes, WebProNews reported Sunday.

Malaysian plane found news not yet final

Phllip Wood Flight 370 Hijacking Conspiracy: Arises Amidst Missing Malaysia Airlines Plane Search. Is The Theory True?

Phillip Wood Flight 370 hijacking conspiracy started spreading on the Internet this week. The US says the Phillip Wood Flight 370 hijacking conspiracy theories are completely ‘baseless’ despite some people believing it to be true.

baby camel

Rare Baby Camel: Little Bactrian Ilias Makes Debut at the Budapest Zoo

A rare baby camel made his big debut at the Budapest Zoo, the oldest zoo in the world.

20 Secrets You Don’t Know About Flying Confessed by Pilots and Flight Attendants

Travel Tips: 20 Secrets You Don’t Know About Flying Confessed by Pilots and Flight Attendants

Travel tips actually confessed by employees of airlines can be hard to come by these days. Below are some of the secrets of pilots, flight attendants, and engineers when it comes to flying.

MEXICO CITY EARTHQUAKE TODAY CAUSES A STIR AMONG VACATIONING MEXICANS, TOURISTS AS THE GROUND GRUMBLED FOR 30 SECONDS AT 7.2 MAGNITUDE [+VIDEO]

Mexico City Earthquake Causes A Stir Among Vacationing Mexicans, Tourists As The Ground Grumbled For Seconds At 7.2 Magnitude

A Mexico City earthquake today caused a stir among vacationing Mexicans and tourists for the Easter holiday. The tremor was felt for 30 seconds and was reportedly at 7.2 magnitude. No major damage or casualties were documented as of late.

MERS Virus

MERS Virus Update: Number Of Deaths Rise in Saudi Arabia, Arm Yourself With These Facts

MERS Virus update leaves the public with the knowledge that the victims of the virus are rising since it killed a man in Saudi Arabia. There has been no official confirmation as to the exact origin of the virus, but reports on the MERS Virus update say that its origins may be linked to camels.

Swim With Adorable Pigs In Big Major Cay Island

Travel Bahamas Pig Beach Swim with Adorable Pigs in Big Major Cay Island

Travel Bahamas Pig Beach and get the best experience swimming with adorable pigs. This thought might be unheard of as a travel experience. Nowadays swimming with stingrays, dolphins, whales and even sharks is getting to be popular, but wild pigs? Well, travel Bahamas Pig Beach and you’ll enjoy swimming with the wild pigs as they roam free.

Youths fight with pillows during a flash mob in a park in central Kiev July 31, 2013. Some 100 people participated in a social media flash mob called "Pillow Fight". REUTERS/Gleb Garanich

Staycation Summer - How to have Holiday Fun for a Very Small Sum

If you're finding the economy's let you down substantially this year, and you can't afford to go on vacation, take heart that you're not the only one. In my 'Staycation' articles, I'll be helping you find cheap and free ways to have fun this summer.

Find Us on Facebook

travelers today

© Copyright 2014 Travelers Today All Rights Reserved.

Subscribe to our newsletter