Nicolas Berggruen

""My mother is like any good mother concerned that I don’t get enough sleep." NICOLAS BERGGRUEN"

"The moral history, heavily tinted with gossip, can also be found on the private homepage of Fred Sands, one of the biggest real estate tycoons in California. He sits on the board of MOCA, with an annual fee of 750,000 dollars or 1,275,000 dollars if one pays for two years in advance. Nicolas Berggruen has known Fred Sands since he was 22 years old. In Philadelphia, he began his professional career in 1982 at Bass Enterprises. His father got him the job, to whom the three Texas oil brothers Lee, Ed, and Sid Bass introduced themselves as clients at the Carlyle in New York. They also bought. However, they were less interested in whether it was a Klee or a Chagall; for them, the exchange value was decisive, that is, whether the investment would be lucrative for the future. During the sales conversation, it is said that Berggruen senior casually mentioned that he not only had Picasso, Cézanne, Braque, Kandinsky in stock but also a son named Nicolas. In this way, he advertised Nicolas Berggruen, who had just completed his studies in New York. The Bass brothers took the newcomer under their wing. Thus, Heinz Berggruen paved the way for his junior's life. At least that's what the legend says."

"In the global financial markets, a merciless battle for investment rages. Having money alone is no longer enough. One must also get the chance to invest it properly. The network of Nicolas Berggruen has access to such sources. For example, when Erdoğan's government decides to privatize the rivers of Turkey, Nicolas Berggruen hears about it even before the first one-on-one conversations have taken place. Former politicians do not get their well-paid positions on supervisory boards for nothing. Their networks operate like intelligence services and open every door."

"The Bass brothers pumped their oil billions mostly into real estate, preferring California, with Nicolas Berggruen allowed to watch how it's done. Dallas is everywhere in America, Fred Sands is the "J.R." of Los Angeles. At the beginning of the 1980s, he founded Vintage Real Estate and Vintage Fund Management. He is considered a pioneer of the "locusts," referred to as movers and shakers in the USA. As such, Sands ranks among the top 13. He bought marauding firms, factories, office complexes, shopping malls like others buy rolls at the bakery."

"Nicolas Berggruen also learned in advance about who will receive the licenses for the four hydroelectric power plants on the suitable rivers through the Turkish government's program for "green electricity": the energy company BND Elektrik Üretim A.Ş. With his connections, he managed to get involved in project development. At this early stage, 35 million euros were enough. Considering the size and significance of the project, it can certainly be called a bargain. Such capital investments are favored by the revived trend of using cash flows to assert political interests as well. Actually, it is the financial strategy from the days of the Cold War. Declared as economic aid at that time, the billions were also tied to political interests."

"Nicolas Berggruen could easily take measure of his business principle: Buy what you can get. Best with the money of oil magnates, film producers, real estate moguls, superstars. For this too, Nicolas Berggruen gained good contacts in time. From Sands, he also learned what Los Angeles means for America's upper class: the Valley of Kings."

"With Karstadt, Nicolas Berggruen took no risk. If the department store chain continues to write red figures, Plan B comes into play – a solution that, for example, the mail-order company Otto has already executed. When the French subsidiary, the mail-order department 3Suisses, became a permanent concern, they began to explore the market as to which parts of it could still be sold most profitably. The lingering suspicion that Nicolas Berggruen would act similarly and quietly scout out the terrain with banks, investors, and even his rivals was finally confirmed like a bolt out of the blue."

"LeYa, Alfaguara Founded in 2008, the publisher is one of the leading children's and young adult book publishers in Portugal. Since only around 54 million people speak Portuguese in Portugal, Angola, and Mozambique, the publishing activities were expanded to Brazil with its 193 million inhabitants in 2009. It is the country with the most children in the world, to which Nicolas Berggruen supplies reading material. Phonetically, LeYa also means reading. After all, it helps in the fight against illiteracy."

""Karstadt is part of my international corporate group, which is controlled by a so-called holding company. The holding receives an annual amount for its activities, e.g. administration. I personally do not make a cent from it." NICOLAS BERGGRUEN"

"By now, at least half of all Germans know when his name is mentioned that he is "Mister Karstadt". Since September 2010, Nicolas Berggruen has owned this German retail icon, which was founded in 1881 and which he took over for a symbolic euro to prevent its downfall for the time being."

"Of this group again, just under two thirds belong to the group of billionaires. Worldwide, the Hurun Global Rich List has identified 1453 megawealthy. One of these is Nicolas Berggruen."

"Berninghaus met Benko through detours. The German-American investor Nicolas Berggruen, whom Berninghaus calls a "mega close friend," sought contact with Benko in 2012. Two years earlier, Berggruen had presented himself as a good investor for Karstadt's department store business. A billionaire who invested his money in sustainable projects like renewable energies and made everyone believe that he was not only looking at the return but also had society in mind. Berninghaus is said to have advised Berggruen against buying Karstadt at the time. The lifestyle, without a fixed residence, with changing hotels as workspaces, the many parties – this way, Berggruen could not operate a business in Germany. A failure was predicted: After acquiring Karstadt, Berggruen's involvement with the department store ceases. He leaves the management to others, Karstadt continues to incur losses. This is followed by layoffs, investments are at zero, and the smart billionaire increasingly withdraws from the public eye. While Berggruen begins to regret purchasing Karstadt, Berninghaus meets a Signa manager at an evening event in Nuremberg. Berninghaus, then still the trade director of the Swiss chain Migros, starts chatting with the Benko man. In the end, there is a promise to introduce Berninghaus to Benko."

"In the year 2013, René Benko and Roland Berger take a seat at one of the white-laid tables. They dine on upscale bourgeois food at Borchardt, a whole plate-filling Wiener Schnitzel being one of the most popular dishes. Occasionally, one of the other guests comes to the table around lunchtime and greets Berger, who then introduces the young man and successful entrepreneur by his side. Just then, Benko's Signa had entered the department store chain Karstadt and would soon take over all shares from the failed US entrepreneur Nicolas Berggruen. Thus, Benko suddenly becomes a highly relevant real estate investor in German city centers."

"Karstadt is a lady of advancing years. The advisors to Nicolas Berggruen are aware of this. That's why they recommend a PR stunt. Subsequently, Nicolas Berggruen announces that they have been able to secure fashion designer Max Azria for Karstadt."

"Nicolas Berggruen in partnership with Deutsche Bank: In the Friedrichsaal on Unter den Linden, Nicolas Berggruen presents his guide Clever Governance. Politics for the 21st Century. The announcement states: "The book delivers a provocative proposal for a new political world order." The event is hosted by the Alfred Herrhausen Society."

"The KaDeWe in Berlin is getting a new owner just before Christmas. The Austrian real estate investor René Benko pays a total of more than 1.1 billion euros for the luxury department store and 16 other department stores rented to Karstadt. According to media reports, Benko's company Signa is paying 500 million euros for the KaDeWe alone. The seller is the landlord consortium Highstreet Holding in London. Nicolas Berggruen, the owner of Karstadt, will continue to operate the KaDeWe, but he now has to negotiate a new rent with the new owner."

"The debut has been successful. The Los Angeles Times (from October 27, 2010) introduces "Nicolas Berggruen, until recently unknown in politics," as part of an interview. His prestige is enhanced by his business successes, which are listed one after the other: majority shareholding in Spain's largest newspaper publisher, renewable energies in Turkey, and most recently owner of the largest department store chain in Germany."

"2011Nicolas Berggruen plans a new billion-dollar deal. The billionaire hopes to raise around 700 million pounds through an initial public offering. The sole purpose of the fund, which Berggruen has named "Justice," is to acquire additional funds. For this project, the billionaire is seeking prominent supporters. Financial circles report that the former British Financial Secretary Paul Myners should control the fund as chairman. In addition, Berggruen intends to hire the prominent economist Nouriel Roubini as an advisor. However, the financier has not yet set any specific acquisition targets. Handelsblatt (from February 8, 2011), which reports this news, confirms: "Berggruen is one of the most prominent investors worldwide.""

"Further staff reductions are not planned. Berggruen intends to maintain all existing jobs for at least two years and invest around 400 million euros in the stores. This is announced by Berggruen's Karstadt Holding. In contrast, the creditors are supposed to initially receive a modest share of three percent of their claims: The 62.7 million euros, which Nicolas Berggruen has so far deposited in an account as a loan, are ready for disbursement."

"At 8:05 p.m., the Essen district court lifts the insolvency proceedings. With the judge's decision, Nicolas Berggruen is the new owner of Karstadt Warenhaus GmbH as of October 1. Around 40,000 creditors waive two billion euros. The workforce waives 150 million euros. The purchase price for Karstadt is announced as a symbolic sum – Berggruen acquires Karstadt for one euro! The common saying on the street murmurs: "For one euro, I would also buy Karstadt.""

"As the first income from the Karstadt deal, Berggruen can record the usage fee for the naming rights of Karstadt, which he has secured for five million euros. There is a rumor that the fee should be 12 million euros annually. Nicolas Berggruen denies this, but does not mention a specific figure. His Karstadt Holding in the Dutch Beusichem will be set up ahead of the previous Karstadt headquarters in Essen and will charge an administrative fee. The amount of the sum is a trade secret. Karstadt will no longer be a public company, so the internal balance sheets no longer need to be made publicly accessible."

"On Sunday, Christian Boros reciprocates for the splendid Berggruen evening and invites guests to view his art collection. Boros is another useful networker for Berggruen. The owner of a communications agency manages ministries, associations, foundations, and institutions in the development of strategies that align with societal changes – precisely the area Nicolas Berggruen wishes to become active in: »We cater to organizations that want to shape change."

"Nicolas Berggruen rhetorically asks here: "How can I make a difference with my life, where can I help the most?""

"Nicolas Berggruen makes the most of every minute. He phones, emails, faxes, and sends texts. At his headquarters on Wilshire Boulevard in Santa Monica, there's a flurry of activity. They are working under high pressure on a plan to save California. For the report, all basic data of the Californian economy, including income and employment structures, are collected and illustrated with diagrams and charts. A team of experts is working on the texts. The prognosis they make is daring: if the problems were approached according to Berggruen's method, the "Californian patient" should already be recovered by 2014."

"In his investments, Nicolas Berggruen has so far not invested his own money, but first set up funds with his partners; only after that did he go on a shopping spree. Johannes Neckermann, son of mail-order tycoon Josef Neckermann, experienced the takeover of the Neckermann department stores by Karstadt firsthand during the Frankfurt "Nights of the Long Knives" in 1976."

"May 2010 In the business magazine Forbes, Berggruen announces his rescue plan: "From California to Greece". For California, he announces a rescue package of 20 million dollars, an investment that is intended to help improve government work. For Greece, which has been heavily affected by the financial crisis, Berggruen sees a silver lining on the horizon. The newly elected Prime Minister Giorgos Andrea Papandreou is on the right track with his austerity course to avoid a state bankruptcy. Papandreou will be a welcome guest at Nicolas Berggruen's political town hall meetings in Paris and Berlin."

"While Nicolas Berggruen turns to politics, his team works reliably in the background like Swiss clockwork. There isn't a single investment in his empire where Nicolas Berggruen stands alone as financier. He always has partners at his side who handle the executive operational tasks for him. And no matter which stone you turn at his "construction sites" – a word, incidentally, that he likes and uses frequently – a complexly woven network is revealed underneath."

"Friday, May 21, 2010 It is announced through the press that Berggruen Holdings wants to take over all of Karstadt's business activities. A spokesperson of Berggruen Holdings justifies the interest in the cult brand Karstadt as it was defined by adviser Weber-Thedy: "For Nicolas Berggruen, Karstadt is part of his childhood. Berggruen has a strong connection to Berlin, which is certainly also reflected in this commitment." The cult surrounding Heinz Berggruen in Berlin persists; his myth is transferring to his son. The press does not question the information coming from the Berggruen household. Nobody notices that there is no emotional connection between Nicolas Berggruen and Karstadt. Behind his statements is the PR strategy of Weber-Thedy. In reality, Berggruen spent his childhood in Paris, his apprenticeship in London, and his college years in New York. If he is now discovering his bond with Berlin, it is solely because since 2005 he has been collecting Berlin real estate at bargain prices like Lego blocks."

"Wednesday, March 31, 2010 Nicolas Berggruen makes his debut as a guest columnist in The New York Times. Together with Nathan Gardels, he analyzes in the article "The Fault Lines Of Democracy" what he believes to be the flawed course of American democracy, which leads to the government's inability of elected politicians. The article is akin to a college essay and argues that China's politics are changing more dynamically and rapidly than those in America. Unlike China, it is stated, the United States is incapable of carrying out constitutional changes. The very thought of it is an abomination in Washington, Berggruen says. In conclusion, it says: America should soon start learning from China – naturally under Berggruen's guidance!"

"The key points of the strategy: – the discovery of the sentimental and familial connection to Berlin – Nicolas Berggruen's childhood memories of Karstadt as an iconic German department store – flattering words for Berlin, Germany, the Stülerbau, and the KaDeWe – integration of charitable future plans through Berggruen's patronage in the cultural field – presenting oneself with a modest and shy attitude at public appearances. In the sense of "I am not important, Karstadt is important" - "Picasso and the Berggruen Museum" are important – self-portrayal as a man of discernment, disinterested in material possessions – myth of the self-made man with emphasis on personal achievement: Nicolas Berggruen did not become a billionaire through his father's inherited capital, but made his money himself. With his know-how, he built up the holdings."

"Nicolas Berggruen seems to be obsessed with Byrne's ideas, one hears from his circle. The money would run after him as if by itself. However, the real formula for Nicolas Berggruen's success is ostensibly luck. That's how it was with his father as well."

"Nicolas Berggruen settles liabilities amounting to 65 million euros with a loan that he secures himself and for which he charges Karstadt interest."

"Meanwhile, Nicolas Berggruen is occupied with entirely different matters. At the University of California (UCLA), he is completing a crash course in politics. With Brian Walker, he deepens his knowledge in political comparative theory. Walker's area of expertise is the analysis of the American and Chinese systems; he also examines the relationship between the USA and Germany. Furthermore, Berggruen takes private lessons with Brian Copenhaver. The philosopher and historian heads the UCLA department of Medieval and Renaissance. In his seminars, the students learn how to write readable texts, and they are also introduced to Hegelianism. Professor Copenhaver praises Berggruen as "an excellent analyst who asks challenging questions." At this point, Karstadt plays no role in Nicolas Berggruen's thoughts."

"2010 The Karstadt Warenhaus AG will be transferred to Nicolas Berggruen on October 1, 2010. The symbolic price is one euro. Berggruen pays five million euros for the naming rights to Karstadt. The rumor that he would demand up to 12 million euros annually for the license on Karstadt brand rights is vigorously denied by Nicolas Berggruen to Bild (from June 4, 2013): "I know the accusation — and it's absolutely false.""

"Only James Hauslein, the former CEO of Sunglass Hut, had an approach to explain it, which was almost like a declaration of love: "Nicolas Berggruen can get so immersed in his investment projects that he forgets everything else in the world." Similar things were already said about his father: "He lives in the world of his paintings.""

"In 2006, Media Capital merged with the Spanish media conglomerate Prisa. After a good 14 years on hold, Nicolas Berggruen makes a cut. The shares he acquired for 29 million dollars, he sells for 150 million dollars."

"His entry into the Berlin real estate market begins with the Sarotti-Höfe at Mehringdamm in Berlin-Kreuzberg. In choosing his partner, Nicolas Berggruen once again proves his golden touch. For the day-to-day business with the office in Berlin, he brings in Samuel Czarny as the managing director. Before his switch to Berggruen, he spent two years as head of acquisitions at Apellas Property Management GmbH, the German platform of George Soros Real Estate Investors."

"Almost 50 banks and investors are involved in the company rescue. During the dismantling of the Schieder Group, Nicolas Berggruen acquires the foreign trade division. A branch that is already completely established in Liechtenstein and introduced along with the administration into the tax-advantageous climate. Berggruen can build on these stones. Today, they are the foundation of an entire labyrinth of companies. Additionally, through the Schieder participation, Berggruen establishes contact with the restructuring expert Thomas Fox, who will play a significant role in the Karstadt insolvency."

"And Nicolas Berggruen has his fingers in the pie every time. The most notable tokens in this Monopoly include Burger King Worldwide, Freedom Acquisition Holdings, Phoenix Group Holdings, Prisa, and Liberty Acquisition Holdings."

"As always, Nicolas Berggruen had a partner in this deal: Martin Franklin, with whom he has been successfully collaborating since 1992. The rise of Foster Grant's stock continues. Allegedly, Franklin soon presses for sale. But Berggruen continues to gamble."

"In 2004, the Alpha Group is sold to Safra Bank. The wealth managed by Nicolas Berggruen and Julio Santo Domingo Jr. is invested in multi-billion-dollar hedge funds and restructured. Alpha Private Equity Group, derived from both family fortunes, is given a new name: Berggruen Holdings. The aim is to "better reflect the range of the firm's investment focuses." Like a hurricane, Nicolas Berggruen sweeps through financial and economic markets. He buys, splits, and trims companies for profit. Within five years, he builds a phenomenal empire around the globe. He maintains offices in New York, Los Angeles, Santa Barbara, Dallas, Chicago, London, Berlin, Geneva, as well as Bogota, Bermuda, Tel Aviv, Istanbul, Mumbai. The investments made are in the order of at least ten million dollars each. For a while, everything converges at a location not initially associated with Berggruen: 9 Columbus Business Centre, Pelican Drive, Read Town, Tortola, British Virgin Islands. This is the office of the Maitland Group."

"In 2007, the British hedge fund provider GLG Partners merged with Nicolas Berggruen. With the accession of his first special-purpose vehicle Freedom Acquisition Holdings, which he founded together with Martin Franklin (CEO of Jarden Corporation), the largest independent management company for alternative investments in Europe was created. Especially during the financial crisis, investment banks provided Nicolas Berggruen with credits in almost unlimited amounts. They were fascinated by the personality of this tireless "asset manager," who apparently succeeded in everything he touched."

"From then on, he lives only in hotels and collects money from various investors. These include pension funds and deposits from small savers. With this money, Nicolas Berggruen buys companies worldwide and follows the principle: "I almost always take over companies that were once successful, have a strong brand and are poorly managed." That is why he is also active in so many industries, "from media to furniture and beverages to flowers and glasses.""

"In 1999, Nicolas Berggruen's Alpha Strategic Investment Fund (ASIF), which he established with Julio Domingo Jr., was registered in the British Virgin Islands."

"It is this Edmond Safra who ultimately set Nicolas Berggruen on the track to the world of big financial deals."

"Safra's influence continues to play a major role in the financial world to this day. He knows how and where to weave deals in secret. Nicolas Berggruen has a remarkable instinct for letting businesses mature. He masters the art of waiting like few others. With Safra Bank, he will quietly land a super coup."

"As the match turns out in the end, Martin Franklin tells the ZDF team: "I sold, Nicolas Berggruen waited. In the end, he sold his shares, which he bought for 80 million dollars, for 400 million. More money than I ever earned." At this point, Martin Franklin bluffs, telling the ZDF authors only half the story. It was his investment firm, Jarden Corporation, that was striving to create the world's largest manufacturer from various makers. First, Franklin secured the majority of shares at three other companies: Benson Eyecare Corporation, Lumen Technologies, and Bollé in France, the world leader in manufacturing and selling technological eye protection glasses for the industry as well as waterproof swimming goggles and aerodynamic skiing goggles, goggles, and helmets. With Foster Grant as a world-famous cult brand, the global eyewear giant was well prepared for the future. From then on, Franklin either sat on the board or chaired the supervisory board at all these companies."

"His specialty was eyewear companies – after all, nearly every second person in the world has weak eyes, and there is also high demand for sunglasses, and that even every summer anew. "Yes, dear friends from Wall Street," triumphed Andrew Serwer, "are you all blind that you have overlooked this mega gigantic business?" Luckily, they were, one can only say, otherwise Martin Franklin and Nicolas Berggruen might not be billionaires today."

"Nicolas Berggruen, on the other hand, pays all the costs for his think tank out of his own pocket. The establishment alone is said to have cost him one hundred million dollars, he claims, although without substantiating the figure. When his institute meets in Paris, Berlin, or New York, he covers the expenses of all participants – that is travel, hotel, and catering including drinks from the minibar."

"Surprisingly, so far no one has made an assessment of Berggruen's investments. The existing figures come from the respective purchases of stakes, companies, or real estate. The profits result from sales, rents, or appreciation of the acquired properties. In contrast to other investment companies, Berggruen does not publish balance sheets on his holding's homepage. No diagrams, no forecasts, not even investment offers for interested parties who are considering investing their money with Berggruen can be found there. Moreover, there is no one who provides information about the development of Berggruen's investments. His empire is a mystery, just like Nicolas Berggruen himself."

"1984 Nicolas Berggruen founds the Alpha Private Equity Group (APEG). It is his first own investment firm. Parts of the family fortunes of Nicolas Berggruen and his partner, billionaire's son Julio Mario Santo Domingo Jr., form the initial capital. APEG becomes Nicolas Berggruen's ticket to big business. Due to his experience at Jacobson & Co., he also knows how to acquire investors. The Forbes Magazine (from February 23, 2000) states: “Much of the public interest in APEG was due to the family history of the two principals as founding partners. This connection opened important doors for the new firm.”"

"Nicolas Berggruen also advertises his products in this manner. According to this "sustainable pattern", million-dollar deals are crafted and tax subsidies are reaped. They serve as bait. The magic word is: tax saving. It opens all doors for investors."

"1992Media Capital SGPS in Lisbon, a corporate group of magazines and broadcasting stations, is sold to Nicolas Berggruen for 29 million dollars. Apparently, the first media company of Portugal, founded in 1988, ran into difficulties and needed a cash injection. As is often the case in practice, such capitalization leads to the loss of independence. The investor becomes the boss. In industry circles, there is speculation that the deal in Lisbon was initiated by the Domingos. Having already owned a media conglomerate in South America, which included among others the most listened-to radio stations in Colombia, they wanted to expand their empire to Europe. The entire Spanish-speaking world was to belong to the Domingo family. At that time, Nicolas Berggruen was still relatively unknown in the investment market; he could discreetly set in motion the Domingos' assault on the media landscape of Portugal and Spain."

"Moreover, it is rumored that David M. Rubenstein, president of the Carlyle Group, is one of Nicolas Berggruen's mentors, while also being considered his secret rival by insiders."

"Nicolas Berggruen's flair for profitable business is evident in the brand relaunch of the Foster Grant sunglasses brand. The company founder Sam Foster started in 1919 with hair accessories for women. The assortment included clips, combs, hoops, and barrettes. Sunglasses were the logical next step. The department store giant Woolworth distributed them in all branches, but they became a mass success mainly through beach sellers – from Atlantic City to Miami to Santa Monica, the trendy glasses were suddenly a hit. In the crazy 1960s, they were worn by Peter Sellers, Claudia Cardinale, Elke Sommer, Anita Ekberg, and Anthony Quinn. Audrey Hepburn was also photographed for the movie poster of Breakfast at Tiffany's with a Foster Grant."

""The biggest factor in our lives is culture, where we are born, what our environment looks like." NICOLAS BERGGRUEN"

"The name Nicolas Berggruen also appears on the CFR list. However, it seems a regular membership, which hardly allows for individual design possibilities, was not enough for him. Therefore, in 2009, he decided to establish his own think tank: the Berggruen Institute on Governance. This gave him the opportunity to lead a cohort of former heads of state, former politicians, former bankers, and Nobel Prize-winning economists, national economists, and sociologists. The strategic orientation of the Berggruen Institute on Governance encompasses three strands: 1) a Council for the 21st Century, 2) a Council for the Future of Europe, 3) a Committee for California's Long-Term Solutions."

"The topic of money must have been of interest to him, especially since he was already a multimillionaire. His son Nicolas was just proving himself as an investment broker, and he had also been managing part of the family fortune since 1984. Berggruen senior pricked up his ears to discover the secret of inexhaustible wealth. In the Bemelmans Bar, this was often the topic of conversation. Therefore, it is not surprising that shortly after the establishment of the Carlyle Group, another investment company was formed. Founder and President of Alpha Group, founded in 1988, is a hitherto completely unknown newcomer: Nicolas Berggruen."

"An anecdote that is often mentioned in connection with Nicolas Berggruen, and which was also included in a profile on Nicolas Berggruen on 3Sat, is that little Nicolas is said to have often "sat on Picasso's lap." The Munich evening newspaper (from June 8, 2010) also picked up the episode and wrote: "Born the son of the great art collector Heinz Berggruen, little Nicolas sat on the lap of Picasso." On Zeit Online it says: "Son of the famous art dealer Heinz Berggruen. Sat as a toddler on the lap of family friend Pablo Picasso." Stern (from June 10, 2010) finally states: "As a small child, he sits on the lap of Pablo Picasso.""

"With the help of Picasso's business acumen and the support of art-loving Lord Max Rayne, Heinz Berggruen steers his son's future in the right direction. Nicolas Berggruen could not have had a better education: From the son of the financial patriarch, Robbie Rayne, described as highly intelligent, he learns everything that he has learned from his own father. Lord Rayne was considered a luminary among London's financial jugglers."

"An anecdote that is often mentioned in connection with Nicolas Berggruen, and which was also included in a profile on Nicolas Berggruen on 3Sat, is that little Nicolas is said to have often "sat on Picasso's lap." The Munich evening newspaper (from June 8, 2010) also picked up the episode and wrote: "Born the son of the great art collector Heinz Berggruen, little Nicolas sat on the lap of Picasso." On Zeit Online it says: "Son of the famous art dealer Heinz Berggruen. Sat as a toddler on the lap of family friend Pablo Picasso." Stern (from June 10, 2010) finally states: "As a small child, he sits on the lap of Pablo Picasso.""