Our Next Benefactor

Money talks?:

Nicolas Berggruen will give at least $20 million to a group of Californians who long to restructure state government so it is more responsive to voters, more responsible with public funds and ready to reposition the state to meet the challenges of today's economy.

...Berggruen, 49, says he envisions a California government that is competent, flexible and efficient — able to close the innovation and entrepreneurship gap that is emerging between California and places such as Singapore and China.

..."We need to be able to think much more long term," Berggruen said in an interview. "We need to be able to prioritize things that may not be popular in the short term but are really helpful in the long term and have an administrative branch that is competitive and meritocratic."

...Berggruen was a virtual unknown in California politics until recently. Then he contributed $250,000 to oppose the measure on next week's statewide ballot that would suspend California's landmark global warming law, Proposition 23. He travels the world acquiring controlling stakes in companies including Spain's largest newspaper publishing firm, a major German retail chain and a renewable-energy interest in Turkey.

...Berggruen's cash is key. A shortage of funds forced the organizers of a state constitutional convention to abandon their plan, which had drawn a lot of attention and enthusiasm. The think tank California Forward lost momentum when lawmakers balked at its plans and nobody stepped forward with funds to put the group's proposals before voters.

...The Wall Street Journal dubbed Berggruen the "homeless billionaire," because he has no residence or car. "I am at home wherever I am," he told The Times. "I am at home as a human being on this Earth. That is home. I don't have a house."

Flying in his private jet, staying at luxury hotels and hosting parties at the Chateau Marmont with guests such as Paris Hilton and Leonardo DiCaprio are part of his lifestyle. Forbes magazine pegs Berggruen as America's 164th-richest person, worth $2.2 billion.