You can be on Entrepreneur’s cover!

6 Business Moguls With Seriously Expensive Side Projects From newspapers to mega yachts, here's a look at what entrepreneurs like Jeff Bezos and Paul Allen spend their millions on.

By Lauren Covello

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

When your net worth is in the billions, sinking a few million into a pet project or hobby isn't going to break the bank. Just ask these six business moguls who are bankrolling everything from space travel to synthetic hamburger meat.

Amazon.com founder Jeff Bezos

Project: The Washington Post

Amazon's Jeff Bezos scooped up The Washington Post for $250 million on Monday, surprising many by entering the print publishing world. Bezos probably didn't buy The Post so much as hobby, but as an experiment. "It could be that he has some ideas about how to transform a print product to digital and wants to experiment," says Reed Phillips, chief executive and managing partner at New York City-based media-industry deal brokerage DeSilva + Phillips. "If he can unlock the formula that works, he would be in a great position to buy and transform other print properties."

Google co-founder Sergey Brin

Project: The test-tube hamburger

In the same week that Bezos picked up The Post, Google's Sergey Brin was revealed as the major backer of the world's first lab-grown hamburger. Brin invested more than $330,000 in the development of the 100 percent bovine stem-cell burger, hoping it will pave the way for more food production methods that are environmentally sustainable. "I like to look at technology opportunities where the technology seems like it's on the cusp of viability. And if it succeeds there, it can be really transformative for the world," Brin said in a video posted on CulturedBeef.net, the website for the project.

Virgin Group founder Richard Branson

Project: Space travel

When your net worth is $4.5 billion, the sky's the limit. For Richard Branson, the sky's just the beginning. The billionaire business magnate hopes to make commercial space tourism a reality through his company Virgin Galactic, which is expected to launch its first public space flight in December. Branson is reportedly planning to take his children Holly and Sam on the initial flight.

Alan Levenson

Construction magnate Dennis Washington

Project: Mega yachts

Montana industrialist Dennis Washington may have made his fortune on land, but his personal passion has taken him to the seas. Washington buys up yachts and overhauls them to suit his tastes, adding luxury perks such as gyms, spas and movie theaters. The Attessa IV, perhaps his best-known project, is estimated to have cost him at least $200 million and took more than 3-1/2 years to complete.

Telecom tycoon Carlos Slim

Project: An art museum

Mexican billionaire Carlos Slim is a well-known art collector with a collection so vast he's built an entire museum to show it off. In 2011, Slim opened the Museo Soumaya in Mexico City, which houses more than 60,000 pieces from his personal collection. The project cost Slim $70 million, just a shred of his estimated $73 billion net worth.

Rick Bowmer/Associated Press

Microsoft co-founder Paul Allen

Project: Professional sports teams

Tech mogul Paul Allen owns two professional sports franchises and was reportedly considering adding a third just a few weeks ago. Allen, whose net worth is estimated at $15 billion, purchased the Portland Trail Blazers basketball team in 1988 for $70 million and the Seattle Seahawks football team in 1997 for $194 million. The Microsoft co-founder was also said to be mulling a purchase of the Phoenix Coyotes hockey team before a deal was struck for the team to remain in Arizona. Allen also has a multimillion-dollar collection of World War 2 planes, tanks and weapons.

Lauren Covello

Former Managing Editor

Lauren Covello is the former managing editor of Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Solutions

Grab Microsoft Project Professional 2021 for $20 During This Flash Sale

This small investment is well worth the time it will save your team in organizing and monitoring project work.

Business News

James Clear Explains Why the 'Two Minute Rule' Is the Key to Long-Term Habit Building

The hardest step is usually the first one, he says. So make it short.

Business News

Microsoft's New AI Can Make Photographs Sing and Talk — and It Already Has the Mona Lisa Lip-Syncing

The VASA-1 AI model was not trained on the Mona Lisa but could animate it anyway.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Data & Recovery

This File Backup Tool Subscription Is $25 for Life for One Week Only

AOEMI Backupper Professional is designed to protect, store, and transfer user's files for them.

Business News

Some Costco Stores Are Now Selling a Frozen Item That Looks Just Like a Trader Joe's Fan Favorite

The Frozen Kimbap is a Trader Joe's cult favorite, and now a version can be found at Costco, too.