Nicolas Berggruen Net Worth 2012, Dubbed the “homeless billionaire” for his penchant for living out of hotels, Berggruen is pouring money into real estate developments in Newark, Los Angeles, and Tel Aviv. In 2011, he announced the formation of a new cash shell called Justice. His reputation as a savvy investor reportedly helped him quickly raise $1.1 billion, without naming investment targets.
Berggruen’s disparate holdings include hydroelectric power plants in Turkey, residential real estate in Tel Aviv and a Spanish media conglomerate. In 2010, he brought German retailer Karstadt out of bankruptcy for the symbolic price of one euro. He claims to have improved the department store chain’s revenues since, and is attempting to buy competitor Kaufhof.
Berggruen has given more than $20 million to support efforts to restructure California’s state government. He collects Picasso, Warhol, Basquiat and Koons, and claims he likes to hold on to art more than hoarding cash. His father, Heinz, amassed a world-famous collection of works by Picasso. Berggruen grew up in France and Switzerland.