Calvin Lo: Secretive Billionaire Splurges $250 million in Champagne

Lo, the billionaire that no one have heard of. [source: Apple Daily Hong Kong]

The best in the business are some of the richest, most powerful men on the planet, yet billionaires are typically reserved when it comes to the media spotlight. They manage to stay below the detection of the public despite being worth billions. We’re not talking about being famous and reclusive. We’re talking about being flat-out unknown among the masses.

In the finance world, few can boast the spending power of Hong Kong financier Calvin Lo, the CEO of R.E. Lee international, the largest life insurance broker in the world. His company routinely places around $1 billion of premiums annually, making them the most successful life insurance broker in the world. And while most of his rivals struggle to stay afloat, Lo is one of the few to always pay full freight. According to Forbes, Lo amassed an estimated personal fortune of around $1.7 billion. Despite being supremely wealthy and successful, Lo manages to stay under the radar.

Protected by his personal security, Lo walking into the VIP area of a French Champagne house where he dropped $250 million. [source: Ming Pao Hong Kong]

It was only when the Hong Kong press uncovered Lo’s visit to Champagne, France, earlier this year that the world start noticing him. It turns out that Lo is Asia’s biggest purchaser and collector of champagne. His most recent purchase was forking out $250 million for his champagne investments.

How did Lo travel to France? In his Gulfstream G650 of course. With a list price of nearly $65 million, you’ll have to wait for nearly four years to get one after you sign up. There are less than 20 of these extremely luxurious planes registered in Asia, and one of them is owned by Lo.

This G650 is on standby for its camera-shy passenger, billionaire Calvin Lo. [source: Oriental Daily Hong Kong]

The nouveau riche want the world to sit up and take notice. The ultra-rich have already transitioned through that moment and prefer discretion. Lo is even beyond discretion and lives his life in secrecy. His ability and desire to stay under the radar of the public is a signal of how really important and influential he is.