Broke Concepts: A Billionaire’s Reckless Spending

by Minority Fortune

ProkhorovMikhailOne can’t help but to judge a person by their spending. It’s may not be right, but it’s inevitable. You either look at a person with veneration or disdain when they rack up an astronomical bill.

Russian Mikhail Prokhorov with over a $9.5 billion Net worth may be extremely wealthy and may be potentially buying the New Jersey/Brooklyn Nets. However, his $52,000 lunch bill makes us question him.

nellosbillionairereceiptMikhail decided to celebrate his potential purchase of the New Jersey Nets by having lunch with close friends at NYC restaurant Nello’s. And it was far from an ordinary lunch, as the bill would amount to more than an average American’s salary. The NY Post details the ordeal seen on the receipt:

Their check included $825 for three orders of truffle tagliolini; $600 for four orders of truffle carpaccio; $210 for three orders of veal chops with mushrooms; and $72 for six large waters.

Not to mention $15 for a bowl of chicken soup.

The lunch was topped off with a $5,000 bottle of vintage 1998 Chateau Petrus and two bottles of 2002 Montrachet Latour for $3,600.

The receipt already included an obligatory tip of 20% for $7,328. It’s a lot for food and several bottles of wine! However, TMZ reported that the party dropped an extra $5,000, bringing the tip to 26%. That extra tip is what moved us to say that Mikhail spent recklessly.

The Santa Claus of Spending

Apparently, big spending is nothing new for the Russian billionaire. He was dubbed by the UK’s Times Online as Santa Claus by a French Alps resort for his lavish spending. He’s known for traveling with a group of pretty young girls on his arm and partying hard.

While the man certainly earns enough money to blow away on lunch and parties, he could be wiser about it. This kind of spending exudes the God-complex that we warn about for those who are wealthy and egotistical. It can lead to some costly liabilities, as we wrote about with Tiger Wood’s recent drama. Furthermore, it looks like his lifestyle has already gotten him in trouble once over an alleged prostitution ring in 2007. He wasn’t charged, but it hopefully served as a wakeup call to be more mindful of the company he kept and his money.

*Images courtesy of Russia Blog and TMZ.
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