LONDON (Reuters) - While the global credit crunch has forced many consumers to rein in spending, one Beijing-based billionaire has splashed out a record $500,000 on 27 bottles of red wine, London-based Antique Wine Company said on Saturday.
The anonymous Chinese entrepreneur bought a mix of vintages of Romanee Conti, a Burgundy wine and considered to be among the world's most exclusive with only 450 cases produced each year.
The client bought 12 bottles of Romanee Conti 1978, two bottles of the 1961, 1966, 1996 and 2003 and single bottles of the 1981, 1990, 1992, 1995, 1999, 2001 and 2002.
PALM BEACH — In another sign of just how hot the mansion market is, the oceanfront estate built by billionaire businessman and philanthropist Sidney Kimmel has sold for $81.5 million, a record for the island.
John L. Thornton, 54, a former Goldman Sachs partner and chairman of the Brookings Institution, is the buyer, people familiar with the transaction said.