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

© 2015 Traverlers Today, All rights reserved. Do not reproduce without permission.
Join Our Conversation

Travel Tips

Lima, Peru

A Travel Guide to Peru: Things to Know

Peru is a cultural hub filled with unique sights to see, amazing cuisine, a plethora of activities, and is definitely somewhere worth putting on your travel bucket list, but there are a few things to know before planning your trip.

Subscribe to our newsletter

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

Want more Travel?

Most Popular

Goblin Shark, Alien of the Deep Found

Viral Video: Goblin Shark, Alien of the Deep Found In Australia, Are There More Out In Ocean?

Viral Video - Goblin Shark, Alien of the Deep. The latest discovery off the coast of Australia has given anyone more reasons not to venture into the deep blue sea. Ocean scientists have discovered an “Alien of the Deep.” What exactly is this new discovery and are there many more out there?

California Droughts To Increase With Human-Caused Global Warming, Says Stanford Study

California Drought Climate Change: California Droughts To Increase With Human-Caused Global Warming, Says Study

California Drought Climate Change – Climate change caused by humans will reportedly helped bring about the current bout of California drought, according to a Stanford University study released Monday.

Turkish Airlines jet skids off on runway in Nepal, passengers safe

Jet Skids Off Runway: Watch Passenger, Crew Survive As Turkish Airlines’ Lucky Escape At Nepal Runway

A Turkish Airlines Airbus A330 jet skids off runway, and everyone on board the plane survived as it landed through dense fog, Wednesday, around 7 a.m. at Nepal's lone international airport. After the jet skids off runway, 40 arriving and 40 departing flights at Kathmandu, Nepal, were forced to cancel because the immobile plane covered almost a section of the runway, according to authorities.

Chile Volcano 2015

Chile Volcano 2015 (VIDEO) Eruption Of Lava Sends Thousands To Evacuate

A Chile volcano erupted early Tuesday, causing a serious threat among local residents and leading them to evacuate the area as lava surged down the volcano’s slopes.

Lisbon

Dream of Summer: Lisbon Getaway

While it is still cold and snow falls, escape the depressing winter by planning your trip to Portugal. As it is a Mediterranean country the temperatures stay milder in winter. And while you may not necessarily think the high 50s is warm the humidity is well over 50%, so the temperature will feel much warmer. Also the sun is out to warm you.

Mood of India

Delhi Rape Victim Blamed For Her Attack, Convicted Rapist Says She Should 'Just Be Silent And Allow The Rape', Internet Outraged, India Bans Interview

Delhi Rape Victim – In a shocking new interview banned across India, one of the rapists convicted in the 2012 New Delhi bus rape case has spoken up. According to Mukesh Singh, the victim is to blame for her rape. His comments have caused outrage across the world, whereas Indian authorities claim the video interview had violated four statutes in their penal code.

Community Responds to LAPD Shooting

LAPD Shooting, Killing Of Homeless Man Caught On Video

The LAPD shooting and killing of a home man in downtown Los Angeles Sunday had reportedly been caught on video. According to authorities Sunday, the LAPD shooting occurred on skid row during a struggle over an officer's weapons.

Tokyo, Japan

Safety First: Some of the World’s Safest Cities

When considering traveling somewhere for any length of time, it is crucial to be aware of the level of safety in the place that you are going to. The Economist has recently come out with the 2015 safe cities index so that people will know where they can and cannot feel safe.

Pakistani Child Being Vaccinated

471 Pakistani Parents Arrested After Refusing To Have Their Kids Vaccinated Against Polio

Pakistani parents were arrested and hundreds of others are being sought by authorities after refusing proper polio vaccination for their kids.

Find Us on Facebook

travelers today

© Copyright 2015 Travelers Today All Rights Reserved.

Subscribe to our newsletter
Real Time Analytics