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Wealth-X Reveals: The 10 Wealthiest Real Estate Tycoons

Wealth-X has produced a list of the 10 wealthiest real estate tycoons in the world.

With a combined net worth of US$123 billion, these 10 individuals have made the majority of their fortunes from real estate development, investment or management business. Of these real estate magnates, seven are from Asia; Hong Kong is home to five of the tycoons on the list, while two billionaires hail from China.

Hong Kong’s ultra high net worth (UHNW) individuals — defined as those with net assets of at least US$30 million — have a particular affinity for real estate; 9% of the region’s ultra wealthy population made their fortunes through the real estate industry, according to the Wealth-X and UBS World Ultra Wealth Report 2014.

Two Americans were in the top 10, while one Australian billionaire rounded out the rankings at No. 10.

China’s wealthiest man, Jianlin Wang, was No. 1 on the list with a net worth of US$33.7 billion as of April 2016.

Hong Kong’s Kwok brothers — ThomasRaymond and Walter — were No. 7 to 9 on the list. They inherited Sun Hung Kai Properties, one of the largest real estate developers in Hong Kong, in 1990 after the death of their father, Tak-seng Kwok.

Six of the 10 real estate magnates were entirely self-made, building their fortunes from the ground up. Among the world’s self-made UHNW individuals, real estate is the second-most popular industry — at 7.3% of the population — after finance, banking and investment (26.4%), according to the World Ultra Wealth Report 2014. In comparison, real estate was the third-most prominent industry among UHNW individuals with a blend of self-made and inherited wealth, at 8.2%, after finance, banking and investment (17.4%) and industrial conglomerates (12.5%). Among UHNW individuals with purely inherited wealth, real estate wasn’t even in the top five industries.

Top Industries UHNW Individuals - WUWR 2014
Source: World Ultra Wealth Report 2014

Learn more about these real estate tycoons below. Read Manager Magazin’s feature on the list here (in German).

1. Jianlin Wang

Age: 61

Net Worth**: US$33.7 billion

Country of Citizenship: China

Primary Company: Dalian Wanda Group

Wealth Source: Self-Made

2. Shau-Kee Lee

Age: 88

Net Worth: US$19.9 billion

Country of Citizenship: Hong Kong

Primary Company: Henderson Land Development

Wealth Source: Self-Made

3. Donald Bren

Age: 83

Net Worth: US$17.3 billion

Country of Citizenship: US

Primary Company: Irvine Company

Wealth Source: Self-Made

4. Ka-Yan Hui

Age: 57

Net Worth: US$8.9 billion

Country of Citizenship: China

Primary Company: Evergrande Real Estate Group

Wealth Source: Self-Made

5. Stephen Ross

Age: 75

Net Worth: US$7.9 billion

Country of Citizenship: US

Primary Company: Related Companies

Wealth Source: Self-Made

6. Joseph Lau

Age: 65

Net Worth: US$7.9 billion

Country of Citizenship: Hong Kong

Primary Company: Chinese Estates Holdings

Wealth Source: Inheritance/Self-Made

7. Thomas Kwok

Age: 64

Net Worth: US$7.2 billion

Country of Citizenship: Hong Kong

Primary Company: Sun Hung Kai Properties (SHKP)

Wealth Source: Inheritance

8. Raymond Kwok

Age: 64

Net Worth: US$7 billion

Country of Citizenship: Hong Kong

Primary Company: Sun Hung Kai Properties (SHKP)

Wealth Source: Inheritance

9. Walter Kwok

Age: 65

Net Worth: US$6.9 billion

Country of Citizenship: Hong Kong

Primary Company: Sun Hung Kai Properties (SHKP) as shareholder; founded Empire Group Holdings

Wealth Source: Inheritance

10. Harry Triguboff

Age: 83

Net Worth: US$6.4 billion

Country of Citizenship: Australia

Primary Company: Meriton Group

Wealth Source: Self-Made

**Note: Net worth as of April 14, 2016. Wealth-X’s dossiers for the most notable billionaires have real-time net worth valuations that may fluctuate from day to day based on changes in publicly listed equity share prices and changes in currency exchange rates.

Another year younger. Another year wiser.

VZM.IMG_20160421_152352Bill Fandel celebrating his recent birthday with friends and colleagues.

VIDEO: Telluride Foundation

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Since 2000, we’ve provided support to help ensure that this beautiful mountain area thrives for years to come. We supply the region with the resources necessary to improve the quality of life and meet the challenges of today and tomorrow. While Telluride connects us to nature with exceptional sights and activities, the Foundation connects the entire region to create a tight-knit community. If you share our passion for this place we all call home, you’re in good company.

To visit Telluride Luxury Properties click here

Sotheby’s Top 10 Significant Sales of 2015

From captivating waterfront retreats and soaring metropolitan penthouses, to vast, sprawling ranches and everything in between, many remarkable properties changed hands through our network during last year. Explore the Top 10 Significant Sales of 2015 below.

#10 – Florida

10-ONE 26.5m

$26,500,000 USD | Florida, USA | ONE Sotheby’s International Realty

One of Ft. Lauderdale’s premiere trophy homes is positioned on three lots in the exclusive guard-gated Harborage Isle. Boasting wide Intracoastal and city views and a 505 foot of mega yacht dock, the incomparable estate offers six beds, seven baths, a six-car garage and over 17,000-square-feet. Other features and amenities include a rotunda entry, double staircase, elevator, beautiful marble, onyx and hardwood flooring, 24-foot windows, five fireplaces, wine room, bar, home theater, office and gym.

#09 – New York

$28,500,000 USD | New York, USA | Sotheby’s International Realty – East Hampton Brokerage

Located in the prestigious Further Lane Farm compound, this 17,000-square-foot estate on nearly six gated acres features sweeping views over 41-acres of protected farm reserve, just minutes from the ocean. Designed by architect John Murray with interiors by noted decorator Victoria Hagan, the estate offers large light-filled open rooms featuring a big family room, kitchen, master suite plus nine additional bedrooms and a media/playroom A 60-foot pool with pool-house and a Har-Tru tennis court are always found on the compound.

#08 – New York

08-EastSide 30m

$30,000,000 USD | New York, USA | Sotheby’s International Realty – East Side Manhattan Brokerage

History, elegance, and the conveniences of modern restoration converge in this magnificent home. Boasting unobstructed views down Fifth Avenue, Central Park, the midtown skyline and The Jacqueline Kennedy Onassis Reservoir, this home’s 26 windows and custom detailing accentuate the graceful layout of the grand scale rooms. A Shelton, Mindel and Associates extensive three-year renovation, featured by Architectural Digest, only enhances this rare opportunity to live in one of Fifth Avenue’s most highly regarded buildings.

#07 – California

141 Tuscaloosa, Atherton

$31,000,000 USD | California, USA | Dreyfus Sotheby’s International Realty

This luxury estate is situated on two parcels totaling almost four acres. Spanning over 10,000 square feet, this gorgeous home incorporates grand-scale rooms including a foyer, formal living and dining rooms, media room with bar, family room and library. The personal accommodations consist of six bedroom suites and six-and-a-half baths including a ground-level in-law or au pair suite with eat-in kitchen. The elegant master suite has an adjoining office, luxurious master bath, walk-in closet and separate terrace.

#06 – Texas

06-BriggsFreeman 31m

Price Undisclosed | Texas, USA | Briggs Freeman Sotheby’s International Realty

Once owned by legendary cattleman Charles Goodnight, known as the “father of the Texas Panhandle,” the Bitter Creek Ranch is almost 36,000 contiguous acres that was once the Mare Pasture of the famed JA Ranch. The JA Ranch in Palo Duro Canyon was the Panhandle’s first ranch and could have been used for a variety of income producing uses, but the new buyer plans to continue it as a large cattle operation. Located on Highway 70 in Donley and Hall counties, Bitter Creek is well known for its hunting with extensive quail, dove, turkey, whitetail and mule and excellent fishing can be found in the ranch’s two stocked ponds. The extensive improvements include several homes, hunting lodges and camps.

#05 – California

05-BeverlyHills 33m

$33,000,000 USD | California, USA | Sotheby’s International Realty – Beverly Hills Brokerage

Hummingbird Nest Ranch, a world class facility on a 123-acre site, rests inside thousands of acres of Santa Susana mountains parkland. As of June 2014, commercial approval by the city of Simi Valley for a 226 keys hotel, wellness center, fitness/recovery, conference center and 46 new houses was granted. Existing are 16 guest houses, totaling 57 bedrooms, 40 baths, and 18 kitchens. A Mediterranean mansion sits atop the mountain with 13-foot high ceilings and expansive French doors all opening onto verandas. The compound includes a French kitchen, parking for over 300 cars, $100,000 PA system, 60 stalls in three barns, three wells for irrigation, two warehouses, 14 hydrants, solar energy-green and a FAA licensed helipad.

#04 – New York

04-East Side 37m

$37,000,000 USD | New York, USA | Sotheby’s International Realty – East Side Manhattan Brokerage

Paul Mellon, heir to one of America’s great banking fortunes, and his wife, Bunny Mellon, built this extraordinarily beautiful 40 foot wide townhouse on a fabled Upper East Side block in 1965. Featured in The World of Interiors magazine, the townhouse, designed in the neo-French classic style and evoking the charm of the French countryside, reflected the passions of its owners. Paul Mellon curated his art collection in the library overlooking the exquisite garden with reflecting pool and gazebo, where Bunny Mellon, designer of the White House Rose Garden and friend to U.S. First Lady Jacqueline Kennedy Onassis, indulged her love of gardening. The high-ceilinged drawing room and dining room lead to a spectacular terrace, the center of celebratory parties. The townhouse has 5-8 bedrooms, with flexibility for guests and staff, eight baths, chef’s kitchen, wine room and elevator. Most rare, however, the house has three exposures, affording brilliant sunlight into some of the most beautiful rooms on the Upper East Side.

#03 – Florida

DCIM121GOPRO

$47,000,000 USD | Florida, USA | ONE Sotheby’s International Realty

This captivating waterfront estate sits on two gated acres on a private peninsula overlooking Biscayne Bay with the Miami skyline as a backdrop. The 12,000-square-foot home home has five-stories, six bedrooms, eight full baths, stunning 360-degree water and city views with 2,000 feet of water frontage. The grounds offer a fabulous pool, gazebo area and private deep water yacht harbor. The property was the playground of America’s elite at the turn of the century calling the Vanderbilt’s and Carnegie’s guests.

#02 – New York

Ranch Road, Montauk by Alex Ferrone

$50,000,000 USD | New York, USA | Sotheby’s International Realty – East Hampton Brokerage

Eothen (meaning “from the east”) represents a rare opportunity to own one of America’s greatest and most storied summer compounds. Few locations in the world afford the unparalleled combination of approximately 30-acres of oceanfront compound with a historic equestrian farm.  Surrounded by miles of riding trails and hundreds of acres of adjoining oceanfront reserve, this property provides ultimate privacy while being located in the hottest market on the east end, Montauk.  A true East End landmark, the nearly six-acre estate was built in the early 1930s as a “fishing camp” by the Church family, of the Arm & Hammer baking soda fortune.  Subsequent owner Andy Warhol made the compound famous frequently entertaining a host of luminaries including Jackie Onassis, Mick Jagger, Elizabeth Taylor and John Lennon. Horses graze on the 24-acre equestrian facility, which graces the approach to the oceanfront compound and boasts two restored barns built by Carl Fisher in the late 1920s.

#01 – New York

01-East Side 55m

$55,559,392 USD | New York, USA | Sotheby’s International Realty – East Side Manhattan Brokerage

This home is located on a full floor in the tower of Manhattan’s tallest residential building high over Central Park.  It has exceptional personal service from Park Hyatt’s new five-star flagship hotel available to all owners.  One57 is surrounded by the city’s best restaurants, shopping, entertainment and cultural offerings of Lincoln Center, Carnegie Hall and Broadway.

View Significant Sales – Best of 2015 here!

To visit Telluride Luxury Properties click here

WEALTH-X QUARTERLY BRIEFING Q1 2016: FINANCE

Quarterly Briefing Q1 2016 Finance

World stock market losses and the impact on the ultra wealthy

Unusual volatility swept the global equity markets in the first quarter of 2016, triggered by fears of the economic slowdown in China, then collapsing oil prices. The year started with Wall Street’s biggest first-week fall in more than a century, and the 8% monthly decline in the MSCI world index marked January’s performance as worse than 96% of the months on record.

“For many ultra wealthy individuals, most of their wealth is privately held, so it’s not exposed to the volatility in pricing that the equity markets are,” Wealth-X President David Friedman said.

However, there is a psychological impact, according to Wealth-X CEO Mykolas Rambus. “What I’ve observed over the years in engaging with UHNWIs in the community at large, is that for the second generation, the 2% loss feels like a 10% loss,” he said. “It’s a heightened psychological impact for the second generation, which sees loss of wealth as tremendously concerning; the first generation thinks they can earn it back. That dynamic can be understood to deepen relationships at financial institutions.”

Trust is key

The turmoil in the markets has highlighted ultra wealthy clients’ lack of trust in their advisors. “It reinforces an existing view that ultra wealthy individuals have had since 2008, with the substantial fallout from the global financial crisis,” Rambus said. “There was a breaking of trust; these individuals lost trust in their advisors, in the system. A lot of investors learned their lesson in China; it reinforces how volatile things are and how proactive individuals need to be.”

The push to gain UHNW clients’ trust is the most prominent wealth management trend of the decade, according to the Attitudes Survey conducted by Wealth-X in conjunction with Knight Frank. Of the respondents, 92% agreed that wealth managers have had to work harder to earn the trust of their UHNW clients. The survey was based on the views of about 400 of global private bankers and wealth advisors who, between them, manage assets for about 45,000 ultra high net worth individuals (UHNWIs) with a combined wealth of over US$500 billion.

Investment opportunities and the rise of the single-family office

In the uncertain economic climate, many ultra wealthy individuals will be seeking investment deals, Rambus said: “In 2008-2010, a lot of the individuals at the highest end of the wealth spectrum, billionaires first, were able to stake early opportunities, and that was the group that experienced the biggest growth. What we will see is greater awareness, because we’re so close to economic shock. These billionaires will be heavy in cash and look for opportunities for arbitrage. All that being said, there aren’t many opportunities.”

The volatility and the gyrations in the equity markets will only compound the trend in single-family offices of investing directly in companies, in real estate deals, and to bypass the whole Wall Street infrastructure on the capital markets side, Friedman said: “Coming from the wealthiest investors, we will see continued velocity of investment on the private market side for privately held assets, and single-family offices have started to compete with larger institutions around these types of investments.”

Likewise, Friedman said, “you’re also going to see this trend of big private banks continuing to try to offer the look and feel of a family-office type structure, to compete with the rise of multi-family offices that are providing more customised solutions that are unbiased. Where the big banks are going to continue to win is where they can offer actual banking services, such as loans, when an ultra affluent investor can leverage what they have, from commercial banking or commercial loans or private loans, against the balance sheet of the bank.”

Where is the money?

Wall Street firms have been paring down staff amid one of the worst quarters for investment-banking and trading revenues. “Investment banking jobs are being cut, and clearly businesses are trying to draw their map from a staffing and infrastructure perspective,” Rambus said.

Rambus said the outlook on China is positive in the long run: “There may be temporary hiccups, but China is still getting into areas such as service and leisure, and making that shift from manufacturing to a consumer-driven economy.”

The privatisation of Russian state enterprises is underway, and it will take some time to evolve. “That will create new oligarchs and a new ecosystem around those individuals,” Rambus said. “Russians are still spending money at the very high end; that hasn’t slowed in a substantial way.”

India is doing very well on a paper basis, especially for tech valuations, Rambus added: “India is a place where we’re seeing a strong story, replacing short term excitement around China.”

Brexit fears

“If a Brexit were to occur, the UK, with its educational institutions, political institutions and influence around the world, will continue to be an extremely important destination for the ultra wealthy,” Rambus said. “Yes, you will lose individuals in the case of a Brexit, but I don’t think it will fundamentally change the map of where the money is. If anything, the fallout from terrorist attacks would have more impact on wealth as opposed to a Brexit.”

Depressed oil prices are here to stay

The drop in oil prices “looks to be a fundamental disruption” in the industry, according to Rambus. “I don’t see these depressed natural resource prices as a temporary correction; I would suggest that this is by design and policy of the current US administration, in terms of a long game for power that seems to be working in favor of the US.”

As a result of oil prices falling, wealth creation in the Middle East “remains highly tentative,” Rambus said. “It remains to be seen if the government in Saudi Arabia can create a work culture and business environment that is conducive to the entrepreneurship required to create new wealth. It’s going to be a very challenged time in the Middle East, given what continues to happen geopolitically.”

Spotlight on the US presidential election

The US looks to be the biggest market on the private wealth side. “It remains to be seen how much volatility there really is as related to the presidential election,” Rambus said. Of the five current presidential candidates, “two of these individuals are advocating for ripping up the system and starting anew,” he said, referring to Bernie Sanders and Donald Trump.

To visit Telluride Luxury Properties click here

Mansion Global: How to Spend $30 Million in the World’s Top 5 Cities

BY KATHRYN HOPKINS

ORIGINALLY PUBLISHED ON APRIL 04, 2016

According to the 10th Edition of the Knight Frank Wealth Report, the world’s ultra-high-net-worth individuals (defined as having at least $30 million in assets) fell by 3% last year, to roughly 187,500. That’s still a lot of buying power for people who traditionally love real estate.

Where do these UHNWIs prefer to purchase property? For the second year in a row, London edged out New York as “the most important city for the ultra-wealthy,” according to the report. They’re the only two Western cities to appear on this year’s list. Singapore, Hong Kong and Dubai round out the top five.

Naturally, we wanted to know what $30 million buys in each of these top-five cities.

ON THE MARKET IN LONDON


Knight Frank

PRICE: $24.16 million
BEDROOMS: 8
BATHROOMS: 7

Not only will this palatial style mansion on the outskirts of London leave you with change to spare, the newly built four-story property boasts eight bedrooms, a two-bedroom staff apartment, two security gates and a 40-foot swimming pool.


ON THE MARKET IN NEW YORK


Douglas Elliman Real Estate

PRICE: $31.5 million
BEDROOMS: 3
BATHROOMS: 4 1/2

This three-bedroom trophy home in the ultra-luxurious One57 has breathtaking views of Central Park and Midtown. The building itself has 24-hour doorman service, a fitness center, yoga studio and a swimming pool.


ON THE MARKET IN SINGAPORE


Christie’s International Real Estate

PRICE: $26.6 million
BEDROOMS: 5
BATHROOMS: 5

This five-bedroom, five-bathroom Bali resort-style home sits on a 10,000-square-foot seafront facing plot in Singapore’s Sentosa Cove. Added bonus: With the prime location comes a natural sea breeze throughout the day.


ON THE MARKET IN HONG KONG


Hong Kong Sotheby’s International Realty

PRICE: $30.7 million
BEDROOMS: 5
BATHROOMS: 4

This beautiful three-story, five-bedroom waterfront home in Hong Kong has a large living room with wall-to-wall sliding glass doors leading to the private terrace and infinity pool.


ON THE MARKET IN DUBAI


Gulf Sotheby’s International Realty

PRICE: $34.8 million
BEDROOMS: 8
BATHROOMS: 9

This Pierre-Yves Rochon-designed home is located in the Emirates Hills. Known for his hotel projects such as the Savoy in London and the Four Seasons George V in Paris, Rochon sought the same balance between luxury and functionality in this eight-bedroom villa.

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Mountain Aviation Empty Leg Flights

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VOTE! Colorful Colorado Video

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Brett

Home base for Brett Schreckengost is Telluride, Colorado, in the San Juan Mountains where he started his career as an outdoor adventure photographer, shooting for National Geographic Adventure, SKI, etc

Film Description

There are lots of beautiful places in the world and no doubt Colorado is at the top of the list. But there is something else at work in the State of Colorado that really makes this place sing. For me it’s all about the people and their overwhelming sense of community that makes this place so darn special. We Coloradans have an undeniable passion for outdoors and value the experiences and adventures that are found right here in our backyard. If your lucky enough to live in Colorado your lucky enough.

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