Are You The Next Internet Millionaire

The collective wealth of the UK’s top 1,000 multimillionaires grew by nearly £53 billion last year.

According to The Sunday Times Rich List 2008, the cash boost means they now sit on a fortune of £412.8 billion - an annual increase of nearly 15 per cent.

The UK is now home to some 75 billionaires - up from 68 in 2007 - 40 of whom arrived from overseas to settle in the country.

Topping the list for the fourth year running is steel tycoon Lakshmi Mittal with a personal wealth of £27.7 billion, up more than £8 billion.

He is followed by Chelsea owner Roman Abramovich. The Russian oil and industry tycoon saw his fortune increase from £10.8 billion to £11.7 billion this year.

Among the fallers is Virgin boss Sir Richard Branson. The value of his transport, Internet and mobile phone empire fell by £400 million to £2.7 billion.

It saw him slump from 11th in 2007 to 20th in the latest report.

The owner of the strike-hit Grangemouth refinery, Ineos chemicals billionaire Jim Ratcliffe, experienced an even greater dive down the list.

Higher energy costs and more competition from the Middle East resulted in Mr Ratcliffe falling from 10th last year to 25th.

New entrants in this year’s top ten include steel and mines magnate Alisher Usmanov comes in at five with £5.726 billion.

One place below are Ernesto and Kirsty Bertarelli. The former Miss UK winner and her husband sit on a fortune of £5.65 billion built on pharmaceuticals.

The top 1,000 wealth creators included 762 self-made millionaires.

Britain’s super rich needed a personal wealth of more than £80 million to feature in this year’s list, up £10 million on last year.

Source: http://www.itv.com

A 25-year-old internet magnate has been revealed as the buyer of one of the most expensive pieces of real estate in Australia.

Brisbane-raised millionaire Daniel Tzvetkoff paid $28 million for the mansion which, when completed, will be the largest on the Gold Coast strip known as “millionaires row”, The Courier-Mail reports.

The mansion will have an estimated value of between $50 million and $70 million when it is completed.

Mr Tzvetkoff, who is of Bulgarian origin but was born in Ipswich, started the online payment business Intabill when he was 18 with his business partner Salvatore Sciacca, a cousin of former federal minister Con Sciacca.

The father of one, who is engaged to be married in the coming months, said the mansion would be his family home.

“We’re not out there to have the biggest place or anything like that,” he said.

“We bought it to live in and raise a family. The property to me, was about the right time and a good investment for me.”

Mr Tzvetkoff bought the property from former Sydney Swans ruckman and Breakfree founder Tony Smith, who has been hit by the collapse of tourism group MFS earlier this year.

Source: http://www.theaustralian.news.com.au

London (ANI): Amy Winehouse has entered the Sunday Times” list of Britain’s Richest Young Millionaires with an estimated fortune of 10 million pounds. The 24-year-old star ranks 10th in the top 100 richest people in music in Britain aged 30 and under, reports The Telegraph. X Factor chart-topper Leona Lewis is also a new entry at 14th place with an estimated 6 million pounds fortune.

Harry Potter star Daniel Radcliffe, who has added 3 million pounds to his wealth in the past year and is now worth 20 million pounds, is the richest actor in the young millionaires list. Radcliffe’s co-star Emma Watson, is a new entry on the list with 10 million pounds, while fellow Harry Potter star Rupert Grint, has 7 million pounds. Atonement star Keira Knightley has been named the richest young actress with 18 million pounds.

Michael Owen, of Newcastle United and England, is the richest young footballer with an estimated 41 million pounds while another England footballer, Wayne Rooney, of Manchester United, and his fiancee, Coleen McLoughlin, have a joint wealth of 35 million pounds tying them in 13th place in the young millionaires list with Princes Harry and William.

Source: http://entertainment.oneindia.in

The road to riches is paved with hard work and persistence

Now is a great time to be a millionaire. Despite the shaky economy of recent months, there’s more wealth and opportunities to make money than ever before. In fact, the number of millionaires in the world climbed 8.3% in 2006, and their numbers are growing.

Today there are about 10 million individuals globally worth more than $1 million, according to a study by Merrill Lynch and Cap Gemini. And interestingly, more women are joining the ranks of the millionaires’ club, as they increasingly climb the corporate ladder and launch their own businesses.

While the achievement can sound daunting, experts say becoming a millionaire doesn’t have to be a fantasy. In fact, the same characteristics that enable some people to become successful in business can also help them to acquire millions. Millionaires share many common attitudes and approaches in their businesses and their lives, and here are a few of them.

Secret #1: Be clear about your life goals

You have to have goals if you want to achieve anything, and it’s important to be specific. Instead of having a vague desire to “be rich,” state a specific goal of acquiring a $1 million in net worth within five years, for example. Being specific not only holds you accountable, but gives you some focus.

What’s important isn’t necessarily accomplishing that particular goal to the letter, but having some framework for what you want. For instance, when comedian Jim Carrey was a poor struggling comic in the 1990s, he wrote himself a $10 million check, put in the notation line “for acting services rendered,” and post-dated it for Thanksgiving 1995. At the time, Carrey barely had $10 to his name, but he carried the check around in his wallet for years.

By 1995, Carrey had become hugely successful through hit films such as The Mask and Ace Ventura, Pet Detective, and his per-film fee had skyrocketed to $20 million. So as hokey as it sounds, visualization and goal-setting has worked for many people, and it can work for you.

Secret #2: Be flexible and adapt.

The road to success and riches is never smooth; if it were, everyone would be a millionaire. Just as it took Thomas Edison nearly 10,000 failed experiments to invent the light bulb, so the path to riches is littered with setbacks and failures. Millionaires understand this, learn from their mistakes, make adjustments and move on.

Secret #3: Cultivate a good support team.

No one makes millions all by himself. Behind every successful person is a support system of family, friends or colleagues who encourage her during disappointments. Therefore, try to surround yourself with positive, like-minded people. Sharing a common vision is powerful, and nothing works like the positive reinforcement of others who believe in you and your goals.

Along the same vein, build bridges in your business and throughout your career. The people you meet on your way up can become lifelong friends and professional contacts long after you clear your first million-dollar milestone.

Secret #4: Do what you love.

This sounds simpler than it really is, since not all of us can make a living doing what we love. One peek at reality TV shows such as American Idol or America’s Next Top Model shows there are more people who want to be singers or models than possess the talent to succeed in these fields.

But generally speaking, it’s far more likely that you’ll make a million doing what you love than something you hate or aren’t good at. The more wealth a person has, the more likely that person will say, “My success is a direct result of loving my career or business,” according to Thomas J. Stanley, author of The Millionaire Mind.

Make sure you choose a career that allows you to fully use your aptitudes, talents and abilities. This way, you can enjoy the fruits of your labors, but also enjoy the journey.

Samantha Chang is the Executive Editor of TheImproper.com. Previously, Samantha was the associate editorial director at High Net Worth Inc. and assistant managing editor at Crain’s InvestmentNews. A business and lifestyle journalist for 12 years, Samantha has appeared on news broadcasts for Fox News, ABC News, NBC News, as well as on the CBC and the BBC. A graduate of the University of Pennsylvania and Temple University Law School, Samantha enjoys running, cycling and music.

Source: theimproper.wordpress.com

West Palm Beach (HedgeCo.Net)- The Family Office Organisation has just released the 3rd Edition of “The 3300 Global Family Office Database 2008″, with 1800 entries from the USA and 1240 from Europe.

The world’s ultra-rich families have established these ‘Family Offices’ to ensure that their wealth is preserved for future generations. The annual cost to manage a Family Office can exceed $2 million. However, assets under management would normally exceed $500 million and well into the Billions.

Family Offices started to evolve in the late 1800s - early 1900s on the sale of major family businesses during the industrial revolution. Instead of dividing the proceeds to the family siblings at that time. European aristocratic families had similar set-ups, called Estate Offices; many are still in existence to this day. However at that time, as now, most European families were predominately major land owners.

Family Offices do not invest in the kind of retail financial products one finds on the High-Street. Like financial institutions, they invest in “High-Risk / High Return” investments and tend to retain a mixed portfolio of investments, primarily in alternative investments such as Hedge Funds, Private Equity, Bonds, Equities, Commodities (such as gold), Futures & Options and Currency Trading to justify a higher rate of return.

Since 1989, The Family Office Organisation has researched the world’s ultra-rich families in depth. Since 2005, this research has been more keenly focused on Family Offices for the benefit of financial institutions and fund managers across the globe.

source: www.hedgeco.net