The World of Billionaire Bling

Part 5: What do the planet's wealthiest spend their money on?
5:27 | 10/28/11

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Transcript for The World of Billionaire Bling
-- -- Has there been such a great divide between the haves and the have nots one can understand why that have not resent the hat. But it's also interesting to see what that has suspended -- -- -- They are spending more and then after. Mega -- it's not diamonds of mega yacht but today's billionaire size really doesn't. The average size beyond today has more than double lot of -- is the author of -- they don't. He used to be thought you were fairly special -- -- 150 foot yacht. Today one guy told me is like owning a -- 20300. Even 400 feet. It's now common among today's -- we're talking the size of the football field. Mega yachts like this -- welcome that I 150 million dollars with millions more -- -- -- With lavish interiors. -- -- and an -- -- -- boats jet -- even millions and millions. Everyone is pushing -- -- Justin Beckett the CEO big -- one of the world's top simply not -- I was on board about it recently and -- have this memory and they were making this. So you come straight out of the sold out and jump into this -- cards are always good to hear something that creates some balls on the war -- What is creating the biggest buzz in the art world today is this 516. -- to beyond eclipsed only by Russian -- -- -- -- -- -- -- almost two football fields it has its own missile defense systems and is -- to have cost a billion dollars. A bomb a village is part of an exclusive club that is getting less exclusive each year. Especially in the United States where in 1985. They would just fifteen billion is today there are more than 400. -- magazine compiles an annual list. -- -- -- have at least one point 05 billion dollars so actually some billionaires who didn't make it into the ports 400 this year. The rich are getting richer. Never before in American history have so many Americans -- so wealthy so quickly. Pick -- up. Christie's auction house is having -- my second year and jewel -- They'll probably get 800000 dollars bidding was among the super rich have driven the price is sky high. People -- buying jewelry all around the world because of its beauty and because it's a great investment mock court. The chairman of Christie's Americans gave me a private showing of Elizabeth Taylor -- legendary collection. Valued in the hundreds of millions will be up for auction in December. Our expectation is that will be a worldwide bidding war it's the most important private collection of jewelry that is known to exist in the world this annual missing tell me about that. 33 carats was her favorite piece of jewelry assured every day can match I had done I wish you -- -- Knowledge to. It is otherwise there would be fixed mar one diamonds on -- best friend. Options include their -- -- calling the shots would -- almost -- Billionaire Mark -- and bought the Dallas Mavericks. They did five news this year took home the NBA championship. But this Sunday -- his once what Steve is just not enough. Microsoft co-founder Paul Allen got 65 million to by the Portland trailblazers. And another 297. Million. This Seattle Seahawks. Billionaires just spend and buy something to show that they can I was interviewing a man in Florida. Who built what was going to be the largest house in the country's over 90000 square feet. I asked him why and he said because I can. Billionaire hedge fund manager Jeff Ireland and it's built himself this 100 -- million dollar mansion and non. 29 bedrooms and have bashed about for the most expensive home country shocking news in the wealthy Hampton doesn't. But the price tag close to a billion dollars this strange looking 27 -- private residence. Is the most expensive home in the world. It's very proud India's richest men -- -- -- I'm underneath his family. But it's not just outside yachts and -- to really keep up with the -- Indiana Jones this you must have hot hot. With -- prices this painting by Willem de Kooning and consult privately for more than a 130 million dollars. Most people look campaigning and say how could never ever be worth a 139 dollars and the reason is that there -- two billionaires who really. 87 million. 88 million what's become harder and harder for today's billionaires. This to really stand out at 92 million dollars so they're all competing for attention and status and as a result the price -- Just goes up and up. This process is the most expensive painting ever -- at option. Children -- 95 million dollar and the big loop of -- none.

This transcript has been automatically generated and may not be 100% accurate.

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