How Do CEOs Spend Their Money ?
Imagine yourself with piles and piles of money – more money than you have ever dreamt of. What would you do with it? Would you go wild, buying up everything in sight on a whim? Or, would you have a clear plan in mind, such as donating to charities dealing with things that have deeper significance for you?
CEOs of successful companies belong to the category of the super-rich. Every successful move made by their organization is another level up for the go getters – more money in the bank. Let’s admit, we all wonder what the CEOs do with all that money. Do they spend it all on themselves and their families, or do they give some of it back to the world?
Following are some accounts of what rich CEOs did with their money:
Luxury
Buying luxurious things tops the list inevitably
Late Steve Jobs, the very popular former CEO of Apple, Inc., used some of his money to appreciate finer things in life. He spent US$131 million on a luxury yacht called Venus. Unfortunately, Jobs did not live long enough to see his praiseworthy yacht as he expired in 2011.
Sports Franchises
Buying sports clubs is the new cool. The indulgence defines magnanimity and power to most billionaire leaders
Steve Ballmer is the former CEO of Microsoft and arguably the world’s best known software provider. He has bought popular NBA franchise Los Angeles Clippers for US$2 billion in 2014. Word is that Ballmer overpaid, but he may prove us wrong by seeing something we don’t!
The CEO of Facebook, Mark Zuckerberg has also spent US$30 million in 2013 to buy four houses that surround his house in Palo Alto, California just to ensure that he has privacy! Now isn’t that ironic, considering his company has been alleged to breach people’s privacy.
Islands
Owning islands has been in the ‘to buy’ list of the elite for some time now.
Larry Ellison, the outgoing CEO of Oracle, bought 98% of a Hawaiian island called Lanai. The island runs for 141 square miles. He intends to convert the island into a “model for sustainable enterprise.” However, it is not quite sure what that actually means. The sum of money Ellison paid for the island remains undisclosed.
Theme Camps
The new age internet billionaires have redefined the idea of spending.
Larry Page, CEO of Google and co-founder Sergey Brin have been attending the Burning Man Arts Festival for many years. They regularly provide funds for a “theme” camp and the participants can choose to spend the money any way they like.
Charity
According to Bloomberg, Bill Gates is the richest man in the world at present. The former CEO of Microsoft has been running the Bill and Melinda Gates Foundation since 2000, along with his wife. They have certainly proved themselves to be of a philanthropic bent of mind as they have donated US$30 billion until now.?Mark Zuckerberg has recently donated US$25 million to help fight Ebola virus. He has also spent US$30 million in 2013 to buy four houses that surround his house in Palo Alto, California just to ensure that he has privacy! Now isn’t that ironic, considering his company has been alleged to breach people’s privacy.
Diversifying Into Other Companies
Richard Branson, the founder of the Virgin Group, has set up a company called Virgin Galactic, which will be the first company in commercial spaceflight to have the SpaceShipTwo spacecraft.
These are some of the ways CEOs all over the world spend their money. The ideas evolve every passing generation, redefining the meaning of being rich.
