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Global | The Daily Truffle LA - Part 2

Global

Billionaires by Colleges

According to Wealth-X and UBS’s “Billionaire Census,” Penn, Harvard and Yale narrowly beat out USC for billionaire alumni. The list then goes back to Ivy Leagues and Ivy-like League schools and tech schools like MIT, with a couple non-US schools making the grade as well. #sidenote: 286 of the billionaires from the Wealth-X report are women 😉

top school billionaires 2

 

The Guy Who Built the $85M Spec House in Beverly Hills, Also Bought the ‘Wells Fargo Party Pad’ in Malibu

A theater, a wine room, a $200,000 candy bar and pre-stocked Dom Perignon …. all perks in this new $85M home was built on spec by Bruce Makowsky who is the same guy who wound up buying the Malibu Colony home in 2010 where a mortgage officer from Wells Fargo has been squatting after it was seized by the bank from Bernie Madoff victims who could no longer pay their mortgage.

How Young Tech Millionaires Invest

mike zhang young millionaire

Spoiler alert: It’s our friends over at Bel Air Investment Advisors. Mike Zhang 23, became a millionaire recently after he sold an online company he started at the age of 14. Bel Air, which primarily manages money for very wealthy individuals, has been getting a number of new clients like Zhang lately: young, newly-made tech millionaires. Bel Air’s younger clients are putting a sizable chunk in hedge funds, master limited partnerships and real estate as well as safer, income generating assets like bonds. The entrepreneurs also like to keep between 10% and 15% of their assets free to invest in their own ventures or other start-ups. [CNN Money]