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Mystery Tech Billionaire Sets Life Insurance Record

603 views · Published 25 March 2014 · 1:43 · Indexed 20 September 2026

Channel: The Fowler Show · 2014 · News & Politics

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CNBC reports that a "mystery tech billionaire" purchased a life insurance policy worth $201 million. That beats out the previous Guinness World Record, a $100 million policy for "an unnamed American entertainer."

The policy was purchased from a global advisory firm called SG, which specializes in "complex financial solutions for wealthy clients." These kind of policies have become popular in California as a way to minimize tax bills by combining insurance products with trusts.

According to CNBC:

SG won't disclose the buyer's name. The company said the single policyholder is a well-known billionaire living in Silicon Valley who is involved in the tech industry, and $201 million would be paid out upon the buyer's death.

Dovi Frances, SG's president and founder, said no single insurance company holds the $201 million risk. He said the policy is split between 19 different companies and none hold "more than $20 million or so" of risk.

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Story: http://valleywag.gawker.com/which-tech-billionaire-set-a-world-record-in-buying-lif-1545565593/@sarah-hedgecock

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