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
News Princess Cruise Ship

Cruise Ship Illnesses: More than 80 People Become Sick with Norovirus on Crown Princess

Cruise ship-illnesses are all too common and it appears that passengers on yet another cruise ship have become sick with the highly contagious norovirus. This time it's on the Crown Princess which was sailing around ports in California.

News Victim of Detroit mob attack 54-year-old Steven Utash

Detroit Mob Attack: Going To Detroit May Be Dangerous If You’re Not African American

Detroit mob attack on Steven Utash may have happened because of race issues, says prosecutor. Last week, Wednesday April 2, an angry mob beat Steven Utash in Detroit Michigan till he was near death. Now, authorities are saying that race is a factor to the Detroit mob attack.

News Airbus A350 XWB Big Reveal

Airbus A350 XWB Big Reveal [PHOTOS] New A350 XWB Plane

Airbus A350 XWB big reveal features the new A350 plane with passenger cabins that will make travellers want to fly frequently. The European company unveiled today how passengers might travel on its new Airbus A350 XWB plane.

News Delta Airlines

Delta Flight Rolls into the Grass at JFK Airport after Emergency Landing due to Hydraulic System Failure

A Delta Air Lines flight rolled off the runway at JFK after it made an emergency landing on Wednesday.

Trending News Tested.com; Austin; April 2, 2014.

Bitcoin: Where Can You Use It?

Bitcoin is a much-talked about topic nowadays as the currency completely changes the world's currencies and money-making industries. When it comes to Bitcoin legality, the world's countries are not entirely equal in opinion. But in most countries, Bitcoin is neither illegal nor unregulated -- it, the currency, is placed in between.

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. What’s different now is that more people can afford travel airfare and more and more are realizing the benefits of traveling in their lives.

Travel Tips 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.

Leisure Ceramic Sushi now with Grain; Kenneth Ristau; January 8, 2011.

EatHow: Food Etiquette in Japan – Sushi

To many, eating sliced fish may not seem like a big deal, but it really is.

News dubai airshow

Dubai Airshow: Huge Aircraft Orders Break Records in First Day of Deals

The Dubai Airshow had a record-breaking first day on Sunday. As major Gulf carriers work to expand their fleet some of the biggest aviation deals in history were made at Sunday's event.

ADVERTISEMENT

Travel Tips

matzoh

Passover 2014: TSA Releases Special Guidelines for Matzoh and Other Religious Items During Jewish Holiday Travel Period

Traveling for the Passover 2014 holiday? The TSA has some tips. The Transportation Security Administration released specific rules for Jewish passengers traveling during Passover, including what to do with Matzoh.

Subscribe to our newsletter

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

Want more Travel?

Most Popular

MISSING JET FROM MALAYSIA'S SEARCH OPERATION CONTINUES AFTER A SIGNAL WAS DETECTED IN INDIAN OCEAN ON SATURDAY

Missing Jet from Malaysia: Flight Mh370’s Search Continues after Chinese Patrol Ship Detected Pulse Signal from a Black Box Along Indian Ocean

Missing jet from Malaysia, Flight MH370, is still being searched for while newest update reveals a ping detected from the possible missing plane.

Con Dao, Vietnam; Malaysian and Chinese journalists look for the missing Malaysia Airlines flight MH370, during a mission on a Vietnam Air Force AN-26 aircraft, off Con Dao island March 13, 2014.

Tomnod Nina Rescue: Crowdsourcing Used To Help Malaysia Airlines Jet Search, Crowdsourcing Volunteers Now Increasing

Tomnod Nina Rescue: Website Tomnod.com is now being used in order to help the search for Malaysia Airline’s missing plane. Tomnod Nina Rescue uses crowdsourcing to help find the jet. The crowdsourcing method uses the public’s efforts in order to help the experts search for the missing Malaysia Airlines jet and solve the mystery of Flight 370 disappearing over the South China Sea.

 MjaMes1408

Italy Tourist Spots for Summer [PHOTOS] Secret Italian Summer Getaways You’ve Never Heard of But are Totally Awesome

Italy tourist spots for summer: 6 surprisingly secret Italian summer getaways you’ve never heard of but are totally awesome.

cat

'Girls' Star Lena Dunham Detained by the TSA at LAX Over a Keychain

Lena Dunham, the creator and star of "Girls" was detained by the TSA at LAX because of a "dangerous" keychain that was considered to be a weapon.

Campers cool off in the heat of the desert during the 2nd day of the Coachella Valley Music & Arts Festival in Indio, California April 16, 2011. REUTERS/Mike Blake

The Coolest Music Festivals of 2014

Jimi Hendrix at Woodstock may be a distant memory, but you can still look forward to a hazy summer lying in the grass listening to your favourite bands. Unfortunately, we can't go back to hear Jimi at Woodstock (time machines are way overdue, right?), but with increasingly cheaper airfares, music festivals around the world are right outside our doorstep. A dream summer for me would be touring them all!

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.

Galicia, Spain

Top 3 Backpacking Destinations to Escape to in 2014

Nothing’s better than welcoming 2014 in a foreign place. A traveler is welcomed with incomparable diversity, fresh faces and possible even a new beginning to start the New Year right.

Terracotta army

Palace Ruins Found Inside Emperor's Tomb in China

Archaelogist found ruins of a massive palace were found near the tomb of China's first emperor, Qin Shi Huang in the city of Xi'an.

Find Us on Facebook

travelers today

© Copyright 2014 Travelers Today All Rights Reserved.

Subscribe to our newsletter