The One City Where Billionaire Property Values Have Dropped The Most

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Morocco Enters the Forbes List of Arab Billionaires for the First Time

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Boeing Just Delivered Its Largest Plane To A Top Secret VIP Buyer

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11 Inspirational Quotes From Legendary Billionaires

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PRESENTING: The Billionaire's Holiday Gift Guide

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10 Billionaires Give You The Best Investment Advice 2012 They Know

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Self-made HNWIs show highest levels of trust in their children to manage their wealth

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India, now Has 8,200 Ultra Wealthy Individuals

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The 15 Most Unique And Awesome Billionaire Toys

Meet The Richest Person From Every Major Country In The World

Saudi billionaire to build world's tallest tower

Saudi billionaire Prince Alwaleed bin Talal unveiled plans Tuesday to build the world's tallest tower in the Red Sea port city of Jeddah, signing a 4.6 billion riyal ($1.15 billion) contract with Bin Laden Group.

This Woman May Soon Be Richer Than Carlos Slim And Bill Gates!

Gina Rinehart is far from a household name in the U.S., but she will be soon if Citigroup’s projections are correct. She’ll also be the richest person in the world, eclipsing the fortunes of well-known billionaires like Carlos Slim, Bill Gates and Mark Zuckerberg.

Mining tycoon Rinehart is Australia’s richest person, worth $9 billion. Her fortune quadrupled last year thanks to high iron ore prices and rising exports to China. But Australian journalist Tim Treadgold, who recently wrote a Forbes Asia story on Rinehart, believes her net worth could climb as high as $100 billion.

In a story for Australia’s Smart Company, he extrapolates findings from Citigroup Global Markets research on mining projects. The report names Hancock Prospecting, the company Rinehart inherited from her father, as the world’s fifth largest mining outfit. Treadgold’s full story is definitely worth reading, but the thrust of his argument is as follows:

If Rinehart was a company listed on the ASX, and valued using the same 11-times price-to-earnings ratio as her partner, Rio Tinto, she would be worth $30 billion, putting her in the top 10 of the Forbes rich list headed by Mexican telephone magnate, Carlos Slim, at $US74 billion, with Microsoft founder, Bill Gates, second at $US56 billion.

Rinehart, however, has three more mines on the way, and potentially more in the exploration phase.

If Rinehart’s three new projects mentioned by Citigroup match the performance of Hope Downs, and if mineral prices stay high (two big assumptions) it is possible to see Rinehart’s portfolio of coal and iron ore production spinning off annual profits approaching $10 billion.

If those best guesses prove to be correct, Rinehart is heading for a personal net worth valuation of more than $100 billion, using the Rio Tinto 11-times PE multiple.

Treadgold goes on to say that these numbers are, of course, contingent on “estimates, assumptions, forecasts and predictions.” And yes, $100 billion does sound exceptionally high. Still, he makes a compelling case that Rinehart is one to watch. Even at a $30 billion net worth valuation, based on profit forecasts for her Hope Downs mine, she’d be the world’s richest woman, a title currently held by Walmart heiress Christy Walton. And whereas Walton inherited her wealth, Rinehart is almost entirely self-made. As Treadgold wrote in his Forbes Asia story, Hancock Prospecting was “in shambles” when her father died. She’s spent the last two decades building it up, and it’s paying off.

Via Forbes
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Trump Wants You To Know He Has A Big New Used Plane

Is ‘new used plane’ even proper English?

Anyway, Donald Trump just took possession of his big, used Boeing 757 plane. He wants everyone to know about it. His camp sent Forbes this article (yes, I see the paradox of me now writing about it. Does it mean Trump wins?)

Naturally, the article very bluntly raises the question of ‘will he rejoin the Presidential race he never joined?’ America loves reading and debating that question. Plus, Trump can’t let Sarah Palin and her bus tour hog the entire election-speculation spotlight.

As Matt Molnar points out in his story, the Boeing 757 is a very presidential plane:

"Recent history has shown the 757 to be the standard issue campaign jet for major Presidential candidates. The two most recent Presidents, George W. Bush and Barack Obama, both flew 757s to victory in 2000 and 2008. John Kerry also darted across the country on a 757 during his 2004 run and Al Gore, who in 2000 ran for President while still in the Vice President’s office, used the US Air Force variant of the 757–the C-32–to move from one campaign stop to the next. (John McCain used a Boeing 737 while Bill Clinton got around on a 727, if you’re keeping score at home)."

It’s an interesting observation—and great Internet traffic bait too. But the likely reason why Trump bought the plane in February is that he got a great deal.

A few weeks back I had breakfast with one of our FORBES 400 members. He loves planes and we started talking about the private plane market. It turns out the market for used jets is in a tailspin (I know, sorry). Why? President Obama.

Obama shunned executives of Citigroup, Bank of America and the rest for zipping around in private planes while the rest of America (the ones who bailed them out) flew coach. Fearing populist revolt, companies ditched their jets. Even companies that didn’t take a government bailout put planes up for sale. This created a glut of supply in a market already suffering from weak demand.

Today, used private planes cost about 50% less than they did in 2007. It’s a deal worthy of Groupon. It’s likely Trump paid billionaire Microsoft cofounder, Paul Allen, pennies on the dollar for the 757. Wow, Paul Allen’s plane, if those walls could talk… well, I guess they would just recite Bill Gates-related rants, mixed in with obscure Star Trek quotes.

Via forbes , Photo by AP photo

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