What was revealed is the fact that a well-known Silicon Valley-based billionaire has taken out $ 201 million in life insurance. Guinness said only that this person resides in the Silicon Valley area of California and is known in the technology space. They revealed also that the policy was sold by the financial adviser Dovi Frances of the Santa Barbara-based firm SG LLC. “We don’t want hitmen running around Palo Alto trying to find him – or members of his own estate,” said Dovi Frances to the media. The owner of the record insurance policy will have to pay over $ 1 million a year as the premium for the policy.
Technically, to offer a such value insurance policy wasn’t too easy because it’s underwritten by 19 different insurance companies, each with a part of less than $ 20 million.
Even for the media it’s not very easy to guess the person who owns this record insurance policy, because California is believed to have 111 billionaires, according to Forbes actual lists.
