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The Maan Al Sanea Case Teaches How To Live Like A Billionaire

maan-al-saneaTHANKS to Saudi Arabian businessman Maan al Sanea’s appearance at the High Court, London, we get to see how a billionaire lives.

Maan al Sanea has failed to overturn a $9.2bn freezing order on his worldwide assets. But the law says he now allowed $4m spending money a year. And he needs the cash.

We worry if Mr Sanea can manage to eke out an existence on £4million a year? The FT:

The judge raised a cap on Mr Sanea’s living expenses from $10,000 a week to $1m a quarter, although even this fell well short of the sum of at least $30m a year that he had requested.

Mr Beazley [Tom Beazley QC, his lawyer] said the initial $10,000 limit was far too harsh for someone who had been recognised as one of the richest people in the world.

It’s not just about standards:

“He spends $800,000 on electricity, gas, telephone, water and satellite bills every month,” Mr Beazley told the judge. “He has a zoo, my lord.” The zoo includes lions and giraffes, according to Mr Sanea’s legal team.

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Posted: 6th, October 2009 | In: Money | Comment