Have you ever wondered what these Wall Street billionaires spend their money on? If you have, find out by reading this article.
Wall Street billionaire, Jeffrey Epstein, loves everything about science. Instead of having a big chemistry set in the basement he has his own staff of world class scientists, and he gives them
$20 million a year to do whatever experiments they want. They would say that they want to experiment on something or do a research on something and Jeffrey would write the check, simple as that. And the team of scientists he has isn’t just people off streets or newly graduated, one of is a Nobel Prize winner and the other is a scientist from Harvard.
Wall Street billionaires like Jeffrey Epstein can buy whatever they want and whatever they are passionate about. Some of these Wall Street hot shots have a passion for competitive sports. Why would they settle for front row seats at a sporting event when they can buy the whole team?ALSO READ: Billionaire lifestyle: Real Estate
The businessman from Great Britain, Joe Lewis, paid $2.1 million on a golfing charity auction just to go eighteen holes with Tiger Woods. Joe Lewis and Tiger Woods got along so good together that they actually decided to go in together on a $1.3 billion development in the Bahamas.
Self-made businessman, Alexander Shnaider, has a passion for Formula-1 racing and what did he do? In 2005 he bought himself his very own Formula-1 team for $50 million and sold it a year later for $106.6 million.
Boston based Hedge Fund manager, John Henry, is a big baseball fan. In 2002 he and his partner bought the Boston Red Sox baseball team for $700 million and made himself principal owner.
Dennis Anthony Tito
American engineer and multimillionaire, Dennis Tito, wanted to go into space. . In 2001, he paid
$20 million to be the first tourist on the Russian Mir space station.
These guys are spending a lot of money on race teams, sports teams, spaceships and scientist but they spend even more money on beautiful art. The reason why they spend so much money on art is because art is an asset that increases in value over time.ALSO READ: Billionaire lifestyle: Private Planes and Mega Yachts.
Henry R. Kravis
The co-founder of Kohlberg Kravis Roberts & Co, Henry Kravis, has a net worth of $4.7 billion as of September 2013. Henry Kravis is a major art collector and has his own private collection of very expensive art. He has donated $10 million to the metropolitan museum of art in New York.
His collection is of modern art, including legendary works from the likes of Vincent van Gogh and Warhol. As far as being a Wall Street billionaire and a collector of art, no one comes close to Steven Cohen. To build his big art collection he had to use almost $1 billion. He once bought a single painting for $137 million.
Steven isn’t just interested in painting. In 2004, he paid $8 million for an actual 14 foot tiger shark suspended in a tank of formaldehyde.