A Billionaire's Garage Sale

Time for another peek [Lifestyle theme] into the "Lifestyles of the Rich...and Cranky."

Even the rich sometimes get caught in a financial downward spiral, and when the going gets tough for them, they do what regular folks often have to do in order to get the cash they need to make ends meet: They hold a garage sale. Craig McCaw is one such fellow. Having invested in high-tech stocks during the 1990s, Craig became one of the world's richest men. But then came the stock market plunge of the past year, and...well, to make this sad story short, McCaw is down to his last billion bucks. So he's selling some of his stuff.

A billionaire's garage sale is much like any other, only the stuff tends to be better. If you were in a pinch, you might sell your socket wrenches, Tupperware, and Englebert Humperdink record collection. McCaw, on the other hand is selling mansions, airplanes, yachts, and his rare wine collection. He's already sold two of his four Seattle homes--one for $20 million, the other for $7 million. His condo is tagged for sale, as is his 5,000 acre ranch in trendy Carmel, California, priced to move at $40 million. He's sold his Gulfstream G-5 luxury jet for $38 million and is offering his personal 737 jetliner for $54 million.

McCaw's also trying to unload his 780-acre island off the coast of Vancouver for forty-nine-nine--$49.9 million, that is. And without the island, he felt he could also do without "Tatoosh." That's the name of his yacht, which is almost as big as an aircraft carrier--indeed, this 300-foot floating palace carries two helicopters, a forty-foot speedboat, a sailboat, and a swimming pool. He unloaded it for $100 million.

This is Jim Hightower saying...Even after his sell-off Craig's no pauper--he's left with a mansion in Seattle, a $20 million California estate, a $7 million Idaho retreat, several other planes...and, who knows, maybe he's even got an Englebert Humperdink collection.


Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.