10 Lavish Ways Tech Millionaires And Billionaires Spend Their Fortunes

mark cubanMark Cuban paid $1.2 million for a celebratory Maverick’s parade.

Photo: dannyb via Flickr

More and more entrepreneurs are spending their money selflessly.Some, like Mark Zuckerberg and Bill Gates, have pledged their fortunes to charities. Others, like Mint’s Aaron Patzer, pay for their siblings’ college tuition.

Still, it’s fun to make an occasional splurge, especially when you have millions of dollars to spend.

We found how some of tech’s wealthiest founders and executives have spent their fortunes. One threw a $25,000 30th birthday bash. Another bought a $73 million yacht.

Mint's Aaron Patzer dropped $25,000 on a week-long 30th birthday bash in the Virgin Islands

Who he is: Founder of Mint.com, which sold to Intuit in 2009 for $170 million.

How he's spent some of his fortune: Aaron Patzer isn't very frivolous. The LA Times portrays the now-Intuit executive as a selfless, non-material guy who has a 'television so old it can't stream Apple TV.' Patzer is even paying for his younger brother's college degree.

But sometimes it's nice to spend money on yourself. On his 30th birthday, Patzer reportedly spent $25,000 to party with friends for a week on a catamaran yacht in the British Virgin Islands.

Sean Parker has spent $13,000 on one meal and has a $20 million townhouse in New York City.

Who he is: Cofounder of Napster and was Facebook's first president. His estimated net worth is $1.6 billion.

How he's spent some of the fortune: Parker has a fetish for Tom Ford suits and likes to travel in private jets. He's also been known to splurge on $13,000 dinners, fancy cars, and real estate.

'He keeps a $100,000 Tesla electric sports car in Los Angeles and an Audi S5 in San Francisco,' writes The LA Times. 'He also has a pad in San Francisco and a $20-million, six-floor New York townhouse called the Bacchus House after the Roman god of wine.'

Jeff Bezos is making a $42 million clock

Meg Whitman spent $144 million to run for Governor of California and lost.

Who she is: Former president and CEO of eBay

How she's spent some of the fortune: In February 2009, Whitman told the world she'd be running for Governor of California.

She spent $144 million of her own money on the campaign -- that's more than any other self-funded political candidate in US history.

It was an expensive loss to Jerry Brown.

Mark Cuban made the largest single ecommerce transaction when he bought a $40 million jet. He also spent a lot on the Maverick's win: $1.2 million on a celebratory parade and $90,000 on a bottle of champagne.

Who he is: Cofounder of Broadcast.com, which sold to Yahoo for $5.9 billion in stock.

How he's spent some of the fortune: Texas-native Mark Cuban uses his money to live a good life. In 1999, he was credited with the largest single ecommerce transaction when he bought a Gulfstream V jet for $40 million.

Later he bought the majority stake in his hometown team, the Dallas Mavericks, for $285 million. This year his team won its first-ever national championship and Cuban partied hard.

He paid for a $1.2 million Mavericks parade and treated his team to a $90,000 bottle of champagne. He's a good tipper too; Cuban left the staff a $20,000 tip.

Larry Page bought a 193-foot yacht for $45 million

Who he is: Cofounder of Google

How he's spent some of the money: Earlier this year, Larry Page bought a 193-foot used yacht for $45 million.

Its interior was designed by French designer Philippe Starck. It has a helicopter pad, a gym, 10 suites, and a crew of 14 people.

Larry Page may have replaced Eric Schmidt as Google's CEO, but Schmidt's $72.3 million yacht makes Page's look like a tug boat.

Who he is: Former Google CEO

How he's spent some of his money: Schmidt bought a 195-foot yacht that is said to be one of the 'highest-spec yachts ever built.'

His boat, Oasis, sleeps 19. It has a pool and a gym that can be converted into a disco.

Larry Ellison bought a $43 million golf house and bought the BNP Paribas Open for $100 million.

Who he is: Founder of Oracle

How he's spent some of his money: Earlier this year, Ellison spent $43 million on a 249-acre California estate, Porcupine Creek. It has 16 bedrooms and a 19-hole golf course.

Ellison is also big into sports and puts a lot of money into them. For starters, he spent $400 million to win the America's cup.

An avid tennis player, Ellison also bought the BNP Paribas Open for $100 million. His purchase saved the tournament, which was strapped for cash and moving to another country. Thanks to Ellison, it will remain in California.

Paul Allen bought a MiG-29 Russian Fighter Jet , a 303 foot yacht, and the Portland Trail Blazers

Who he is: Billionaire co-founder of Microsoft

What he's done with some of his fortune: Paul Allen owns not one but two sports teams: the Seattle Seahawks and the Portland Trail Blazers. He's built multiple museums dedicated to his idols.

Allen also bought and saved his favourite movie theatre from being demolished, founded an institute to fight brain cancer, and bought a Russian fighter jet to add to his collection of WWII planes.

His bought his yacht, Tatoosh, for $100 million (it comes with a submarine) and the Trail Blazers in 1988 for $65 million.

BONUS: Derek Handley isn't exactly Larry Ellison or Sean Parker, but he did some awesome things with the money he made from an acquisition.

Who he is: Founder of The Hyperfactory, which sold to Meredith Corporation for an undisclosed amount

Here's The Best Way A Founder Has Ever Spent His FU Money >>

Here's all of the tech founders who could really make the world their playground:

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

features money sai-us