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01.17.

How Much Money Will Lance Armstrong Lose From His Scandals?

In the wake of the USADA’s report Lance Armstrong was dropped by every single major sponsor including Nike, Annheuser-Busch, Radio Shack, Oakley and Trek Bicycle Corp. Armstrong also lost several lesser known endorsement deals and will unlikely be commanding six figure speaking engagements or appearance fees anytime soon. The loss of these endorsement deals are expected to cost Lance $30 million over the next few years alone.

In addition to losing out on endorsement dollars, this morning the International Cycling Union announced that they were stripping Lance of all seven of his Tour de France victories. This latest blow will likely mean that Lance will be required to pay back $4 million in prize money he earned for those victories. As if that wasn’t painful enough, with each Tour victory, Lance also received performance incentive bonuses from his US Postal Team. In total, Armstrong received $7.5 million between 2002 and and 2006 in bonuses which were paid out by a Texas based insurance company called SCA Promotions. SCA Promotions sued Armstrong back in 2005 over $5 million they refused to pay amid his steroid allegations. They ended up losing the lawsuit and had to pay the full $5 million plus another $2.5 million in damages.

So in the short term, Lance is likely going to have to pay back $12.5 million in bonuses and prize money. Plus he will lose a minimum of $30 million in short term endorsement dollars. But the real blow to Armstrong’s wallet will happen in the long run since his reputation as a champion and philanthropist has been decimated. It’s conceivable that over his lifetime, Lance Armstrong will lose hundreds of millions of dollars personally. Fortunately his net worth today is still hovering around $125 million, so he should be able to weather the storm and still have lots of dough. Just might not have very many friends to spend it with.

cash, celebrity, sports, wasted money

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01.08.

Baller’s $22K Gold Shirt Is Goldest Shirt Ever

Don’t be fooled by Indian businessman Datta Phuge’s walrus-like mustache and demure facial expression. The man’s a world-class baller. Just take a whiff of his $22,700, gold, short-sleeved shirt. Smells like some good, old-fashioned cha-chingSo why did Phuge hire 15 goldsmiths to create this shining combination of gold thread, velvet, and Swarovski-crystal-adorned buttons that’s almost made us forget about Kanye West’s crystal mask? “I know I am not the best looking man in the world,” he says, “but surely no woman could fail to be dazzled by this shirt?” Surely no.

Well, even if it doesn’t work for him, at least he gave the world this amazing photo. Now will one of you go and make a meme out of this already?

cash, clothing, expensive, gold, wasted money

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01.06.

Big Gates’ Technologically Advanced Mansion – Xanadu 2.0

Bill Gates, founder of Microsoft, lives in a home that is famous in its own right.  Located in Medina, Washington is over 66,000 square feet and overlooks Lake Washington. Note that much of the house is underground, making it look smaller in pictures. In 2009, Nicknamed Xanadu 2.0, the property taxes cost Bill Gates $1 million a year, with the total house asset value of $148 million. Bill Gates has also spent $14 million buying surrounding property. He bought the original lot in 1998 and contraction took over seven years.

The house is considered a modern “Pacific lodge” style design, with many classic and high-tech amenities.  To build Xanadu 2.0, all timber and woodwork was flawless, with acoustics being a priority. Over seven types of stone were used.  All flooring is heated, including walkways and even the driveway. There were 300 workers total to complete the home, with one hundred being just electricians.

The home features all kinds of automation, with over 52 miles of optic cables. Family members and visitors are set up with a microchip tag that can control setting for each room they walk into, controlling lighting, heating, music and even your preference of art on digital displays. All rooms also have their own touch-pad to control every aspect of the room.

Intensive home security is present, with hidden cameras and floor sensors everywhere. There are no visible electric outlets and every door handle was custom-made costing $2,000. Some interior passageway doors weigh over 800 lbs, but are balanced for easy opening.

Bill Gates has several interesting areas to his home. He has a domed library, which has two secret bookcases, with one hiding a bar. Leonardo da Vinci’s Codex Leicester is on display, which Gates paid $31 million for in 1994.

cash, celebrity, electronics, invention, website

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01.03.

Lionel Messi Just Became The Highest Paid Soccer Player In The World

Lionel’s base salary is being raised from $10.5 million to $15.44 million. By 2018, his base salary will have risen to $20.3 million. Amazingly, $15.44 million will make Messi just the third highest paid player in terms of base salary, behind Zlatan Ibrahimovic ($19.5 million) and Samuel Eto’o ($26 million). On the other hand, when you take into account bonuses, Barcelona will pay Lionel a mind numbing $44.68 million next year, making him the highest paid soccer player in the world. Keep in mind Lionel also earns $20 million per year off the field from endorsing companies like Adidas, EA Sports, Dolce & Gabana Pepsi and Herbalife. When you take into account base salary, bonuses and endorsements, Lionel Messi will earn a grand total $66.68 million per year! Not bad for someone in their mid-twenties. Do you think Lionel is worth it? Below is a list of the 10 highest paid soccer players in the world, bonuses and base salaries included.

cash, celebrity, expensive, sports

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