His name is Nicolas Berggruen, and he is the subject of a new profile in Bloomberg Markets magazine.
Berggruen’s art-dealer dad gave him a $250,000 trust fund and he’s multiplied that by 10,000—a $2.5 billion fortune. He hasn’t had a home address since 2000; now he “constantly roams the world on his Gulfstream IV jet, living out of five-star hotels,” reports the magazine.
Berggruen might not share Soros’ poor-to-rich background, but he shares Soros’ passion for politics and even some of his specific policy proposals, such as a more integrated Europe.
He put money where his mouth is, dropping $100 million to create the Nicolas Berggruen Institute to tackle what he calls the “deep governance crisis in the West.”
The Institute’s Council for the Future of Europe has an impressive roster that includes former German and Spanish heads of state, as well as Nouriel Roubini, Joseph Stiglitz, and Mohamed El-Erian.
Berggruen’s impressive Rolodex also includes pop-culture stars like Leo DiCaprio and Paris Hilton—he throws an annual party at the famous Chateau Marmont in L.A.
Most of Berggruen’s success has come by buying companies “loaded with debt or with family owners who are looking to retire” and turning them around. (He tried his hand at hedge funding but didn’t beat the market.)
He has also signed Warren Buffet’s pledge to devote at least half his money to philanthropy.
Don’t miss our slideshow of what Soros really wants to do to the world.
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