It's So Awkward Being Rich These Days

Owen Thomas · 01/07/09 03:34PM

Unconspicuous consumption is the hot new thing. That $300 million megayacht? Tacky, what with the layoffs. Private jet? Forget about it, after Detroit's debacle. Even the celebrity goodie-bag business is endangered.

5 best videos of the $233 million megayacht Tom Perkins no longer wants

Nicholas Carlson · 03/26/08 05:00PM

At 289 feet, the Maltese Falcon, is the world's largest sailing yacht. Its owner, venture capitalist Tom Perkins, is over it. He's looking for a buyer to take the Falcon off his hands for about $233 million, according to The Wealth Report blog. Of the Falcon, Perkins once told Lesley Stahl on 60 Minutes: "I just wanted the biggest boat." It was a beautiful sentiment, people, and we're here to honor it. So below, the five best videos on the Web catching the Maltese Falcon in all its glory.

Larry Ellison and fellow billionaire trade accusations of rigging the America's Cup

Jackson West · 03/24/08 07:00PM

The America's Cup is the world's premier opportunity for the ultrariches to prove whose is bigger. But if you think the race has anything to do with sailing, you'd be mistaken — it's about who can muster the most capital. This year the victor could be rigged by lawyers, not sailors, thanks to a spat between billionaire software tycoon Larry Ellison and billionaire biotech tycoon Ernesto Bertarelli.

Tom Perkins "embarrassed" by megayacht

Jordan Golson · 11/02/07 01:05PM

"I am embarrassed by [the price] ... There's the homeless and charity and there are lots of things you could do with that money that would improve the world, right? So you know, 'How selfish is this guy?' ... is the criticism. So the answer is pretty selfish, but I am not going to put a number on it." — Tom Perkins, to CBS's 60 Minutes, on the price tag for his ubermegasuperyacht Maltese Falcon. We bet he'll feel better after he goes for a quick sail — and would be happy to take it off his hands if he's still feeling guilty.

NBC Makes Oprah, Paul Allen Very Slightly Richer

Maggie · 10/09/07 01:00PM

NBC Universal announced today that it has bought Oxygen Media, that home for the has-been (see: "Tori & Dean," "Breaking Up With Shannen Doherty," and "The Janice Dickinson Modeling Agency,") for the bargain basement price of $925 million. The deal for the seven-year-old Lifetime-rival network will ensure that the founders of Oxygen will finally be able to feed their children and rest easy at night, knowing their financial worries are behind them. You know: Oxygen co-founder? Oprah Winfrey. Oxygen investor? Microsoft co-founder Paul Allen. We're sure they're totally pissed that they didn't get to pocket that $3 billion "BET money" they were hoping for. Because now how will they buy more megayachts and/or Maui?

"A Megayacht Is Indispensable"

Choire · 10/03/07 11:20AM

From the Times, on how yachts must have helicopters and minisubs now: "'Today, a megayacht is indispensable,' said Olivier Milliex, head of yacht finance at the Dutch bank ING. 'It's not like 15 years ago, when a yacht was a luxury item.'" You know, I'm not sure if I really have anything to add! It's just not like 15 years ago, is it!