Current Balance = £3001.04
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$2.6m for

A US man has sold the domain name for $2.6m (£1.3m) after maintaining the site for just $20 a year since 1994. That’s a 9286% return on his £140 investment.

He said he now regretted not buying more domain names in the 1990s. Whilst I am regretting not buying before him!

World’s richest man is…

Warren Buffet who has seen is fortune increase by $10bn in the past year to an estimated $62bn. Bill Gates has dropped down to 3rd place after 13 straight years being the richest man on the planet, largely due to the 15% decrease in Microsoft shares following their bid for Yahoo, although he is still up by $2bn year on year.

Second place was taken by the Mexican telecom tycoon Carlos Slim Helu whose fortune rose by $11bn to $60bn this year. There is now just $4bn between the top three so it’s anybody’s guess who will be the richest man next year.

11% more millionaires in the world

I was reading a magazine article today that says the number of millionaires in the world rose by 11% last year to 9.6 million (defined as those people with over $1m of investable/liquid assets). And the good news is that the UK ranks number three in the world with 610,000 millionaires, just behind the US and Japan.

Whilst there are plenty of dollar millionaires in the world, billionaires are a much more exclusive group with less than 800 people worldwide achieving this status (most of which seem to own premiership football clubs!).


Beckham hits jackpot at L.A. Galaxy

Looks like David Beckham has sorted his pension out by signing a 5 year deal with L.A. Galaxy worth £128m.

That works out to be £25.6m per year or for those paid by the hour, assuming a 37 hour week, he will be earning £13,306 per hour (less tax of course!). So if he was to undertake the millionaire adventure challenge he would achieve it in just under 75 hours.


Great news for millionaires, interest rates increase!

The Bank of England shocked everyone today by increasing the base rate to a 5 year high of 5.25 per cent. That now means a millionaire would earn an extra £2500 per year in interest if their money was invested at the base rate bring their annual return to £52,500. (more…)