An ultra-rare Ferrari J50 is for sale for $3.6 million

One of the rarest modern Ferraris is now up for sale for a cool $3.6 million. The J50, as the name implies, is one of just 10 built to commemorate Ferrari’s 50th anniversary in Japan. Though based on the 488 Spider, the J50 boasts unique styling and extra horsepower. The J50 debuted in 2016 to mark 50 years since the first Ferrari made landfall in Japan, a privately imported 275 GTB. Needless to say, all 10 examples of the J50 were spoken for by the time the car made its official debut at the National Art Center in Tokyo. Each one was finished … Continue reading An ultra-rare Ferrari J50 is for sale for $3.6 million

Hong Kong luxury house bought for $55 million by private equity firm founder

Fred Hu, the founder of Chinese private equity firm Primavera Capital Ltd., has bought an ultra-luxury house in Hong Kong for HK$428 million ($55 million), as wealthy mainland citizens continue to support the city’s high-end property market. The five-bedroom house spanning three floors is located in Tai Tam, a prestigious area on the south side of Hong Kong. The property is one of five houses in the 45 Tai Tam road development that feature extravagant fittings. Floors are covered with Persian carpets, and the kitchen cabinets are filled with cut crystal and Christofle cutlery.Primavera Capital Group Chairman Fred Hu Portraits One … Continue reading Hong Kong luxury house bought for $55 million by private equity firm founder

Rare jewels given to Napoleon’s daughter fetch over $1.6M

A rare nine-piece jewelry set once belonging to Stephanie de Beauharnais, Grand Duchess of Baden and the adoptive daughter of Napoleon Bonaparte, smashed auction estimates Wednesday to sell for 1.52 million Swiss francs ($1.67 million). The sapphire and diamond parure included a tiara, earrings, a ring, bracelet and pendants. The jewels from the tiara and bracelet once part of a belt, were remodeled by the grand duchess’s daughter, Princess Josephine. The jewels were sold individually at Christie’s in Geneva, 200 years after the French emperor’s death. Each item exceeded the auction house’s initial estimates, which ranged from 10,000 to 250,000 Swiss … Continue reading Rare jewels given to Napoleon’s daughter fetch over $1.6M

Chinese county bans birthday parties in bid to be frugal

A county in southwest China has banned birthday parties and other celebrations, following calls from the central government to be more frugal. It also set out new rules for weddings and funerals, including a ban on cash gifts more than 200 yuan (£22, US$31). The rules in Funing county only apply to all communist party members, civil servants and village organisation leaders – not to most residents. It is a traditional Chinese custom to give cash gifts at parties. However, they have also been used as bribes for influential hosts, this is not the first time the Communist Party has … Continue reading Chinese county bans birthday parties in bid to be frugal

China becomes top market for Cuba’s legendary cigars

Cuba’s state cigar monopoly, Habanos S.A., said on Tuesday that China had displaced Spain last year as its top market but rising demand in the Asian giant could not compensate for declines in sales elsewhere, with global revenue down 4% to $507 million.Cigars from Cuban luxury tobacco brand Cohiba are on display at a tobacco shop in Hanau Curbs on travel last year due to the pandemic dealt a serious blow to demand from countries reliant on tourism as well as sales at duty free, Habanos said in a statement. Cuba’s hand-rolled cigars, which include brands such as Cohiba, Montecristo … Continue reading China becomes top market for Cuba’s legendary cigars

Bill and Melinda Gates end their marriage

Bill and Melinda Gates are ending their marriage after 27 years, the pair announced in a statement on their verified Twitter accounts.Bill and Melinda Gates “After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” the statement reads. The couple founded their philanthropic organization, the Bill and Melinda Gates Foundation, together in 2000. Since then, the foundation has spent $53.8 billion on a wide range of initiatives related to global health, poverty alleviation and more, according to its website. “We have raised three incredible children and built a foundation that … Continue reading Bill and Melinda Gates end their marriage

Talk of Instant Justice: Two suspects die in Italy jewellery robbery

Two people have been killed following a raid on a jewellery shop in Italy, according to local media. The owner reportedly opened fire after three armed thieves broke into his shop in the village of Grinzane Cavour, in the Piedmont region, on Wednesday. Two died in the street, while a third suspect was wounded in the leg and later arrested. The town’s mayor told Italian media that the business owner had been injured in a separate incident in 2015. He was violently beaten and his wife and daughter tied up during the 2015 attack, while thieves made away with €300,000 … Continue reading Talk of Instant Justice: Two suspects die in Italy jewellery robbery

Kanye’s Yeezy sneakers fetch a record $1.8m in private sale

A pair of Kanye West’s ‘Grammy Worn’ black leather, size 12 Nike Air Yeezy 1 prototype sneakers fetched a record-breaking $1.8m in a private sale, Sotheby’s announced on Monday. The Kanye West sneakers that sent athletic shoes strutting down fashion runways sold for $1.8m, a new world record price for a pair of sneakers, Sotheby’s announced on Monday. The American rapper’s 2008 “Grammy Worn” Nike Air Yeezy samples were prototypes for a line developed by West and Mark Smith for Nike. They were revealed during West’s performance at the 2008 Grammy Awards. The buyer was sneaker investing platform RARES, which … Continue reading Kanye’s Yeezy sneakers fetch a record $1.8m in private sale

India’s richest people are fleeing on private jets over Covid-19

India’s ultra-rich are paying tens and thousands of dollars to escape the country as it set a new global record for daily coronavirus infections – for the fourth day in a row. In the last week, India has become the new epicentre of the virus , which has completely overwhelmed the country’s healthcare system and crematoriums and has led to a dire shortage of oxygen. On Sunday, public health officials reported 349,691 new Covid-19 cases in the country, according to Sky News. They also reported 2,767 deaths, another daily record, as some nations announced they would implement travel restrictions on visitors from India. The alarming numbers are … Continue reading India’s richest people are fleeing on private jets over Covid-19

Oligarch’s son ordered to shell out $100M in payout to his mother

The son at the center of the U.K.’s largest divorce lost a London court ruling over his role in hiding assets from his mother with a judge calling him “a dishonest individual who will do anything to assist his father.” Temur Akhmedov worked with his billionaire father, Farkhad Akhmedov, to do “all he could” to stop his mother from obtaining a 450 million-pound ($627 million) court-approved divorce payout, Judge Gwynneth Knowles said in a ruling Wednesday. The judge ruled Temur should pay his mother more than $100 million. The trial attracted scrutiny after Temur revealed he’d lost more than $50 million day … Continue reading Oligarch’s son ordered to shell out $100M in payout to his mother

Kanye West’s $1 million Yeezy’s could be the world’s most expensive sneakers

The Nike Air Yeezy 1 Prototypes, which the American rapper debuted at the 50th Annual Grammy Awards in 2008, will be among the most expensive sneakers ever to appear on the market, according to Sotheby’s auction house, which is organizing the sale. Described in a press release as “one of the most prized and sought-after sneakers in existence,” the shoes will be offered via private sale after going on display in Hong Kong later this month. Sotheby’s did not reveal an exact asking price, though it said it has valued the item “in excess of $1 million.” While there is … Continue reading Kanye West’s $1 million Yeezy’s could be the world’s most expensive sneakers

The Rise and Rise of China: Beijing now has more billionaires than any city

Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes’ annual rich list. The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine. This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years. China’s quick containment of Covid-19, the rise of its technology firms and stock markets helped it gain top spot. Although Beijing now has more billionaires than the Big Apple, the combined net worth of New York City’s billionaires remained US$80bn (£58bn) greater … Continue reading The Rise and Rise of China: Beijing now has more billionaires than any city