Gold Vending Machine Debuts At Vegas Casino

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The luxury Lifestyle blog (the home of luxury Lifestyle) presents Gold Vending Machine Debuts At Vegas Casino.

 
The Golden Nugget hotel in downtown Las Vegas is living up to its name with the installation of an ATM that dispenses gold instead of cash.

Visitors are now able to buy gold coins and 24-karat “bars” weighing from 1 gram to 1 ounce at the new Gold to Go machine.

Prices automatically adjust every 10 minutes to reflect actual market value. The one ounce coin, at the moment, goes for about $1,400.

Golden Nugget owners believe a gold vending machine is actually a perfect fit for the casino. They already house the largest gold nugget in the world.

The first Gold To Go machine debuted in Florida just a few months ago. Operators say it’s so popular it has to be refilled about every three days.

The machine only accepts cash and is gold plated, bolted to the ground and virtually impossible to move.

Via Msnbc – latimes

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2011 Hurun Best of the Best Awards

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The luxury Lifestyle blog (the home of luxury Lifestyle) presents 2011 Hurun Best of the Best Awards.

 
Luxury-brand awareness is growing among China’s super rich, who recognize 20% more of the lavish brands than they did last year, according to the Hurun Report.

The 2011 Best of The Best Survey, which interviewed 401 Chinese mainland millionaires, each with assets of more than 10 million yuan ($1.5 million), said the super rich in China are developing more sophisticated tastes in luxury products.

“Chinese entrepreneurs are getting more and more sophisticated, discerning and confident in their personal style, and what they aspire to, as they try to turn new money into old money,” said Rupert Hoogewerf, founder of the Hurun Report.

“The time for China to learn from Europe is over. People here are becoming better educated. They are getting to know luxury brands that are not even familiar to some Europeans,” Hoogewerf said.

According to the 2010 Hurun Wealth Report, released in April, there are 875,000 multimillionaires and 55,000 billionaires in China, or 6.1 percent more millionaires and 7.8 percent more billionaires than last year.

This year, Louis Vuitton was again No 1 in the top ten overall most popular luxury brands among China’s super rich.

Hermes rose to second place from fourth last year, and Chanel stayed in third place. Cartier was fourth and Gucci remained in fifth.

Cartier was the No 1 overall jewelry brand for the sixth year running, and Patek Philippe the leading luxury watch brand for the third time.

Luxury watches and jewelry continue to rank as the top collectibles for the rich, according to 44 percent of respondents, up by 10 percent over last year. Meanwhile, more of the wealthy prefer collecting red wine to luxury cars, the survey found.

The report also found that the Chinese rich like to travel abroad more and four out of five millionaires consider educating their children overseas.

“Luxury brands have a very special place in China, as there is strong gift-giving culture here. Lots of people like to receive luxury brands to improve their status. It’s a noticeable trend,” Hoogewerf said

Via China Daily

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Mubarak: World’s Richest Man?

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The luxury Lifestyle blog (the home of luxury Lifestyle) presents Mubarak: World’s Richest Man?

 
The New York Post picks up a Guardian report that embattled Egyptian President Hosni Mubarak could be the richest man in the world.

Worth about $70 billion, the Post says most of his money is stashed in foreign bank accounts and “shadowy real-estate holdings.”

That sum makes Mubarak more wealthy than Mexico’s Carlos Slim and Bill Gates, whose fortunes clock in at $53.5 billion and $53 billion, respectively.

Mubarak has benefited from hugely profitable investments as president. “There was a lot of corruption in this regime and stifling of public resources for personal gain,” says an expert.

But other Middle Eastern leaders may boast comparable fortunes of between $40 billion and $70 billion, a political science professor tells ABC News.

Sources: NYpost - Newser - ABC News

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