What do you do when you don’t want to be strapped down by physical possessions? You become a traveler and put your possessions into storage. That is just what 51- year-old French-American billionaire Nicolas Berggruen did.
When he travels he doesn’t bring much. He travels light, carrying just an iPhone, a few pairs of jeans, a fancy suit or two, and some white monogrammed shirts he wears until they are threadbare. Talk about keeping things simple.
This same man say’s he has a plan that will fix the California Economic system.
Nicolas Berggruen talking about how to improve the California Economic Crisis:
Uploaded by KQEDondemand.
A guy who has a knack for not overindulging might just be what an overindulgent state like California needs.
At a young age he became a Marxist and refused to learn English, calling it the language of imperialism. Then his father decided to introduce Nicolas to Business. He got an internship with a British Real Estate company and decided he actually did like Capitalism.
In 1988, Berggruen created Alpha Investment Management, a fund of hedge funds. He then later bought discounted commercial real estate debt for himself from Resolution Trust Corp and sold the properties as the economy recovered. He also turned around a Spanish soft-drink company along the way to his billions.
Although Burggruen is now in the News he says he would much rather do without the fame.