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85,840 views 15 Dec 2025 MONACO CITY
Billionaires in a Shoebox: Inside Monaco, the World's Wealthiest Square Mile
Monaco – a microstate with gigantic wealth: More millionaires are crammed into just two square kilometers than anywhere else in the world. Tax exemption, luxury real estate, superyachts, and champagne nights attract an exclusive clientele. But behind the perfect facade lies a life of glamour and greed, self-realization and self-promotion. The documentary follows entrepreneurs, high-flyers, and those who have fallen from grace – and poses the age-old question: How much wealth is enough?
00:00 – Introduction: Wealth, luxury and greed in the everyday lives of Monaco’s super-rich
10:02 – Unequal wealth distribution in Germany and the rise of new lottery millionaires
18:32 – Multi-millionaires between self-fulfilment, startup risks and the loss of wealth
30:04 – Status symbols: superyachts and luxury real estate – how the richest display their fortune
38:50 – Criticism, taxes and happiness: what the super-rich learn about responsibility and true contentment
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00:00In miserable wealth and endless pleasure, that's the dream.
00:07In today's tough world, I try my best to spread a little joy.
00:14The pursuit of money seems never-ending.
00:19I'm sure I could have a lot more money.
00:22But does all this abundance have any value?
00:28Money, money, money, all this greed, was it worth it?
00:34No.
00:47Rich, richer, Monaco.
00:50This tiny country is one of the smallest in the world, yet it has the highest population density.
00:56The principality spans just about two square kilometers, but nowhere else do so many millionaires live in such a confined space.
01:05In this paradise for the ultra-rich, modesty has no place.
01:10German multimillionaire Björn Lefner feels right at home here.
01:15He has a passion for fast, luxury cars.
01:18Today, he's driving his Mercedes AMG from his second home in Cannes.
01:22Despite his fortune, Lefner often finds himself pondering what he really can and wants to afford.
01:29Freedom relies on money.
01:34Having money gives me more options.
01:38And it gives me time.
01:40Those two things go hand in hand.
01:44Luxury everywhere, super yachts, sun-drenched promenades, celebrities, parties and picture-perfect moments.
01:52Even for a multimillionaire, there's always more to want.
01:56I could have a lot more money, no doubt.
02:00There are so many things I'd like to have, but it's all relative.
02:05Entrepreneur Lefner is contemplating a new goal.
02:12Settling down in Monaco.
02:15Anyone looking to stay long-term in the principality needs at least 500,000 euros in a Monegasque bank account.
02:23A costly price of admission.
02:26Around 900 Germans reside in Monaco, including billionaires, multimillionaires and those who cater to their every need.
02:38Jennifer Fessele aspires to be a successful entrepreneur in Monaco.
02:43She's currently launching a private flight and helicopter service.
02:47The demand for these kinds of luxuries peaks during the summer months.
02:51Wealthy people often book private jets.
03:01But we also offer a full range of services, including helicopter flights and limousines.
03:09We do everything.
03:12Rich people are of course used to being served.
03:18If you want to establish yourself as a top-tier service provider, above all, you must be well connected.
03:25The weekend of the Classic Grand Prix is a perfect opportunity and one of the social highlights of the year.
03:32Jennifer Fessele finds herself at the center of this exciting event.
03:37While the famous city circuit usually hosts Formula One cars, on this day, amateur racing drivers take to the track.
03:44They arrive with original racing cars from the past.
03:48This hobby can be quite costly.
03:51The display of luxury and wealth also provides a magnificent backdrop for illustrious guests looking to showcase themselves.
03:59Actor Patrick Dempsey makes an appearance in the paddock.
04:02He enjoys the media attention.
04:05Fessele understands that what benefits the wealthy also benefits her business.
04:21Multi-millionaire Lefna has a modest wish this weekend.
04:25A new watch.
04:28Jennifer Fessele, a member of his network, accompanies him for his shopping.
04:35And there's a new jewelry store I want to show you.
04:40I collect watches. I have 56.
04:44Do you work here? You speak perfect German.
04:50You speak perfect German.
04:52How much does the leopard cost among friends?
04:5585,000.
04:57Incredible. I remember when they cost 35.
05:01That was 10 years ago.
05:03I should have bought the leopard if I'd known it was no longer in production.
05:14Yeah, it's been discontinued.
05:17I've just bought a Brightening, not a big one.
05:21I have a few Corums. I'm a big Corum fan.
05:29Okay.
05:30Golden Bridge and all that.
05:32Okay.
05:33I also have Patek.
05:34We'll come back.
05:35I'll get my next watch here if we can come to an agreement and make a deal.
05:39Happy to do that.
05:41What drives the desire to always acquire more?
05:46The quest for wealth often resembles a competition.
05:49But how much is enough?
05:51Does wealth truly lead to happiness?
05:56These are questions that journalist Julia Friedrichs asks herself.
06:01The film and book author has followed Germany's wealthy and super wealthy.
06:06I've often asked myself, when is enough enough?
06:12It's actually very challenging to listen to people who have clearly met their needs many times over.
06:20Every vacation, every property, every car they'd like to buy, and even yachts they could purchase countless times.
06:29Nevertheless, the desire for more still persists.
06:33I think the only explanation for this is that money serves as a powerful measure of success.
06:41Almost everyone dreams of being rich, says Thomas Truyen.
06:46He's a researcher of wealth.
06:48For decades, he has investigated what drives the desire for accumulating more money.
06:54The dream of becoming wealthy is universal.
07:00People are convinced they can ultimately find peace through riches.
07:06For most, the desire to be rich means achieving a better situation than their current one.
07:12This often leads to a misconception about wealth.
07:18It is true that many people want to be rich.
07:21But when they say that, they typically envision reaching a personal goal rather than becoming a billionaire.
07:27This goal is linked to specific life plans.
07:30Most people simply dream of improving their current circumstances.
07:35This applies to the super rich as well.
07:41Even those who already have a lot often desire even more.
07:45It's an endless cycle.
07:47Just a little more.
07:48That's what the dream is all about.
07:53When dreams come true, they can sometimes be challenging.
07:56For example, getting to a party with a Hummer is not so easy.
08:00Evenings in Monaco are often filled with wealthy individuals, including celebrities, entrepreneurs, and heirs.
08:08The village of Eze, about 10 kilometers outside the principality, offers a tranquil and noble atmosphere.
08:15Kamir Mogadam has invited guests to one of his renowned lavish parties.
08:21Born in Hanau, he designs and sells carpets and fine furniture.
08:25He established himself as an outfitter for the wealthy, which has allowed him to amass wealth himself.
08:31Like his father, he serves as a purveyor to the royal court.
08:37Jennifer Fessele is also here.
08:39New connections are formed over an abundance of champagne.
08:45The world has changed.
08:47There are a lot of rich young people today.
08:49That's great, but things can shift over time.
08:51I just try to celebrate.
08:53It's important to keep a positive mindset and try out new things.
08:58Think positively with fine drinks.
09:02For Kamyam Mogadam, the lightness of being is the top priority.
09:07Everyone here embraces this mindset.
09:09In today's difficult world, I try my best to spread joy with my work and my whole being.
09:19It's all about color and design.
09:22Making people smile.
09:24Offering them a warm welcome.
09:26Then enjoying a nice drink.
09:28We need to celebrate the lighter moments in life.
09:32Especially since the world has become so difficult.
09:35The world has become difficult.
09:41That's easy to say in an environment of abundance.
09:44The sociological concept known as the Matthew effect is applicable here.
09:49For to everyone who has, to him will be given.
09:53Wealth tends to accumulate and grow on itself.
09:57Global wealth is increasingly concentrated in specific countries.
10:09Most super rich individuals reside in the USA, followed by China, with Germany in third place.
10:15There is one notable peculiarity.
10:19In Germany, wealth is distributed more unevenly than in almost any other developed country.
10:25There is relatively low wealth among the middle class.
10:29Germans own little property.
10:31There is a lack of entrepreneurs and the startup culture isn't very strong.
10:36Many don't invest wisely.
10:38They are often reluctant to buy shares and instead prefer fixed-term deposits.
10:42Wealth is concentrated at the top, held by a very small group of people.
10:50Only 1% of Germans hold more than a third of the country's total assets.
10:59132 billionaires form the top.
11:02No champagne is flowing and no luxury cars are rolling.
11:14Still, German millionaires are gathering in Nuremberg.
11:18These men and women have won between 1 and 5 million euros in a lottery.
11:23They represent new money as opposed to inherited wealth.
11:27During a tour of the old town, they share their experiences.
11:30These fortunate winners have been coming together for 20 years.
11:35Suddenly finding themselves as millionaires, there is plenty for them to discuss.
11:44We are happy that we can get together and we feel lucky.
11:49So we celebrate a bit and do something together.
11:51Sometimes we give advice, we talk about each other's situations, like installing a new heating system.
12:00We talk about simply everything.
12:02The meetings are a kind of self-help group for those who are suddenly wealthy.
12:09Today, they are baking gingerbread.
12:11They are baking gingerbread.
12:12These millionaires share a common experience.
12:16Being rich is relaxing, but also feels unusual.
12:22Vesna Vekic ran a small fashion boutique when she suddenly won 5 million euros.
12:28I built a Tuscany villa in Bavaria and have lived there for 15 years.
12:39So I realized my biggest dream.
12:42And it turned out even bigger.
12:45Studies show that 75% of lottery winners in the upper range end up with nothing within a few years.
12:54These fortunate millionaires appear to defy this statistic.
13:00Denny Vana, a handyman, continues to live a grounded life.
13:07The goal is to live a carefree life.
13:10That's one of the benefits of having money.
13:12When unexpected expenses arise, like you get a hefty bill or your washing machine breaks,
13:17it doesn't become a major issue.
13:19You can handle it.
13:20How does having a lot of money change one's life?
13:27The answer varies.
13:29Research has shown that beyond a certain level of wealth,
13:32additional money does not always result in increased well-being.
13:36It's important to first meet basic needs.
13:38Contentment has been thoroughly researched by American universities.
13:50People want to feel content.
13:53This is more significant than pursuing happiness.
13:56Contentment is also more sustainable.
14:00They associate this sense of contentment with wealth.
14:07The idea is that money can solve some of the most pressing issues faced by humanity,
14:15such as hunger, poverty, education and community support, including pensions.
14:26The lottery club members enjoy sharing tips and tricks.
14:30Money brings a sense of peace.
14:33Now, they must stay grounded.
14:34Schloss Weissenhaus is a luxury resort located on the Baltic coast, catering to the super rich.
14:53Once home to account, it's now under the leadership of Jan-Henrik Buehtner.
14:57For him, wealth means more than mere happiness and a few million in the bank.
15:06After all, he's the owner of a castle.
15:09Just 20 years ago, the site was in ruins, but now Buehtner successfully manages his empire from here.
15:16He came, saw the potential and invested.
15:19Things tend to escalate for me when I start a project, even if that's not my intention.
15:28For instance, when I want to take care of a piece of land, it quickly evolves into something as complex as Weissenhaus.
15:37This makes me question myself.
15:40Why does it escalate and why do I find it appealing?
15:42I have certain strengths, for sure.
15:45I tend to envision how things could be perfected in the future.
15:49Once I see that vision, I want to make it a reality.
15:53If no one else takes responsibility, I do.
15:57What starts as a small idea often grows into something much larger.
16:02Then it escalates.
16:03Escalation in the form of increasing investments is a key component of his business model.
16:13He purchases the site for approximately 7 million and invests at least 10 times that amount.
16:22Buehtner is a man of action.
16:24In the early 90s, he establishes AOL Europe.
16:27When the owner Bertelsmann sells its stake in Time Warner for billions, Buehtner goes to court to get his share.
16:34He receives a settlement worth nearly 100 million.
16:38He describes this unexpected sum as a surprising windfall.
16:42However, Buehtner is not focused on accumulating wealth.
16:46Some people just want to become billionaires for the sake of it.
16:51That has never been my goal.
16:52For me, money is a means to an end.
16:56A tool to help me achieve my aspirations.
16:59I call it the frozen future potential.
17:01It's only when I have a vision for the future and ideas to pursue that money becomes meaningful.
17:09His latest venture is luxury vacation homes.
17:13A housing estate is currently under construction on the beach of his expansive resort.
17:17Even before everything is completed, he has managed to sell the houses.
17:23He earns millions in profits.
17:26His key to success?
17:27Self-confidence.
17:29What drives most people goes beyond the desire for a happy life.
17:37They aspire to make a lasting impact on the world.
17:40This is the starting point.
17:41I know very few people who simply say, I want to become super rich.
17:52Take Elon Musk.
17:56While some may think he's an eccentric, that's a part of his character.
18:01It's a blend of normalcy, exaggeration, megalomania, and undoubtedly other personal psychological issues.
18:14This alters the way he perceives everything around him.
18:21He dares to undertake challenges that others are often too afraid to try.
18:27Whether those ambitions are megalomaniacal or not.
18:31What does a multi-millionaire do when he decides to revisit a childhood hobby?
18:41Jan-Henrik Bütner chooses to play chess.
18:44Not one to do things halfway, he invites the world's top players to his home.
18:48Currently, Grandmaster Peter Leckl is training at Weissenhaus with World Vice Champion Vincent Kaima.
19:02Bütner naturally aims to host the greatest players in the field.
19:10It's not just any game, it's more like a sport.
19:13I thought about how to make something meaningful out of it.
19:17So I took a close look at the chess market and considered various factors, including players.
19:22Chess is currently dominated by Magnus Carlsen.
19:27If I organize a chess tournament at Weissenhaus, it must feature Magnus Carlsen.
19:33Otherwise, it wouldn't be worth it.
19:37For Bütner, there's only one choice.
19:40Magnus Carlsen.
19:43At just 22 years old, he became the youngest world chess champion in history and has remained virtually unbeatable for over a decade.
19:51The event at Weissenhaus begins with the players dressed in custom-made velvet jackets.
19:56The tournament is streamed worldwide, marking a significant financial success.
20:02Unsurprisingly, Magnus Carlsen emerges as the winner.
20:05Of course, the project escalates.
20:15Jan-Henrik Bütner is aiming to revolutionize the world of chess.
20:19He and Carlsen are launching a global tournament series called Freestyle, featuring random lineups.
20:25In a way, Bütner is a freestyle millionaire.
20:30He has the money to do whatever he wants.
20:33Yeah, people want more and more.
20:37What often goes unheard is what truly matters.
20:39It raises the question, what do I actually need?
20:43And what do I really want?
20:45For me, the driving force has never been wealth.
20:47It has always been the desire for independence.
20:49I wanted to achieve my independence even at the risk of losing it.
20:53When you find yourself dependent on others, you must work hard to regain your autonomy.
20:58That's been my motivation.
20:59When Bütner looks at his Weissenhaus empire, new projects are already forming in his head.
21:10It's not just about managing assets.
21:13It's always about making a difference.
21:15While we have massive fortunes among the super rich, we need more people who are willing to use their wealth to make a difference and who are willing to risk losing some money.
21:29We need people who say, come on people, let's make a change, let's try new approaches and push initiatives forward.
21:35That's what we lack in Germany.
21:39As an investor in young startups, Bütner has taken risks for decades.
21:45He's determined not to lose.
21:47However, he may consider parting ways if the price is right.
21:51After two decades, he wants to sell his castle on the Baltic Sea to make room for new dreams.
21:59Germany has the highest number of private jets stationed in Europe.
22:03These jets are not only used to transport the super rich, but also those who desire a more luxurious travel experience.
22:10To meet this demand, a newly formed airline called Travel Coup has emerged.
22:19The idea for this venture came from Niklas Seitz.
22:22It offers the best of both worlds. It's not traveling like the super rich, but you still enjoy the comfort of a private jet.
22:35The seating arrangement features a one-to-one configuration. Everyone has access to a window.
22:40You also get top-notch service. One of the greatest things is the quick travel from point A to point B.
22:49You have minimal waiting time at both the departure airport and upon arrival.
22:55No queues, short distances and priority access in the limousine.
23:04The planes are referred to as semi-private jets. An increasing number of affluent travelers are booking their seats for approximately 800 euros.
23:13Geraldine Gambochon, the manager of a large agency, tests the service for her clients.
23:21It begins with a leg room. We have plenty of space. We drink champagne and get snacks.
23:29The distances are short and check-in is quick. Overall, it feels good. It's a great experience.
23:35Traveling like this is fun.
23:43The number of these flights is on the rise.
23:47Travelku is now providing even more connections with new aircraft.
23:52Traveling by semi-private jet also offers a unique sense of being special.
23:59Luxury doesn't always have to be extremely expensive.
24:02Luxury means feeling unique. If that feeling isn't too costly, then that's wonderful.
24:11Arrivo at Palma Airport in Mallorca.
24:14The flight is convenient and affordable.
24:18A new market is emerging.
24:20The wealth landscape in Germany is shifting, especially among the affluent who aren't super rich.
24:32It's still become trendy to try and live a luxurious lifestyle.
24:37Charter flights with private jets have become super popular, especially for short distances.
24:43There's clearly a growing desire among people to participate in this extreme lifestyle and feel like they're super wealthy.
24:53This applies to hotels too. Everything in Gumbershaw's offerings is unique.
25:04The facilities consistently exceed expectations.
25:08The concept is popular, providing a comprehensive experience that goes beyond just travel and accommodation.
25:14It's not about having a lot. It's about feeling rich.
25:25It's a lifestyle hotel, not a five-star luxury hotel that is isolated.
25:32You're part of the community here.
25:33The restaurant guests are not only hotel guests, but also locals.
25:38This integration is very important to us.
25:42Her Palma portfolio includes a city palace, where a night stay costs over a thousand euros.
25:52While not everyone can afford this luxury, a significant number of people can.
25:57Luxury is no longer exclusively reserved for a small upper class.
26:06How you choose to vacation reflects your place in society.
26:16Ex-football star Jimmy Hotvik knows a lot about social status.
26:21He has experienced many ups and downs throughout his life.
26:24Hotvik grows up in a poor neighborhood near Fangfut.
26:31He then becomes a soccer star with Hai Sfao.
26:35As a top player, the young Jimmy Hotvik suddenly finds himself with more money than he can spend.
26:41This newfound financial freedom changes his life.
26:48You buy a car and an expensive watch to show off your success.
26:51I came from a tough neighborhood and now feel seen on a global stage.
26:56With money in your account, you no longer have to fear being unable to eat at the end of the month.
27:01These symbols of success are enjoyable.
27:04If you say you don't enjoy them, you're not being honest.
27:07I used to treat my friends to champagne, dine at high-end restaurants and take vacations.
27:12I also bought clothes from brands like Boss to boast to others and show,
27:18look, here's a successful brown man with expensive clothes.
27:22If you say you don't enjoy these symbols, then you're lying.
27:25In sporting terms, Hotvik is on the path to success.
27:32He has won championships with Hai Sfao and triumphed in the European Cup.
27:37There is much to celebrate, both in the locker room and elsewhere in life.
27:41During that time, a lot of people approached me and pretended to be friends.
27:47These friends included a lawyer, a banker and a tax consultant.
27:53Three occupations that always make me jump.
27:58They said, hey, you want to save on taxes?
28:01Hotvik lives a lavish lifestyle and is easily persuaded.
28:10He invests his money in real estate to reduce his tax burden.
28:14This nearly ruins him.
28:18The money was gone and the apartments were gone.
28:21That's the worst feeling.
28:24Having something you're proud of, something you've achieved and earned,
28:27only to lose it.
28:31I earned it by playing soccer and then trusted the wrong people.
28:35I just wanted to play soccer.
28:38I relied on others and didn't take care of my taxes.
28:41I thought that if I stopped playing soccer, I could say,
28:45yes, this house belongs to me, I own it.
28:48In the end, I didn't own anything.
28:53Learning to make money is essential.
28:55Highly specialized asset managers invest every cent for high net worth individuals.
29:03However, this is not the case for millionaire beginners like Jimmy Hartvik.
29:09As soon as someone comes into a lot of money, many people from their social circle start offering advice on how to manage and grow that wealth.
29:21Unfortunately, it often doesn't take long for that money to disappear.
29:29This leads us to an uncomfortable truth.
29:33It's clearly not easy to become rich.
29:36But it appears to be just as difficult to maintain that wealth.
29:39Jimmy Hartvik has found his way back.
29:40His financial crash has enriched him with many life experiences.
29:54He says that status symbols have lost their meaning.
29:56Even in the world of the permanently wealthy, researchers say the significance of status symbols is changing.
30:13Flashy sports cars increasingly represent extravagance and ostentation.
30:20For now, nothing will change on the water.
30:23The ultimate status symbol continues to be owning a superyacht.
30:32A yacht is one of the most expensive things produced by humans.
30:37For many wealthy people, owning a yacht that is at least 100 meters long is a way to signal their status.
30:47It shows that they belong to an exclusive group and that they have several million in the bank in order to maintain their yacht.
30:55Exclusive real estate is a clear indicator of wealth, especially in Monaco.
31:03Here, prices per square meter are the highest, surpassing those in London, Tokyo and Paris.
31:11Jennifer Fesseler is on her way to view a property with Björn Lefner.
31:14Hello, how are you?
31:25Fine, thanks. And you?
31:27Very well, thanks. Can I introduce you to my friend Björn Lefner?
31:31Hello, Angela Kleiber. Come in.
31:33Angela Kleiber is a real estate agent selling luxury apartments in Monaco.
31:39She's the only German in this field working there.
31:41So, this is the view. First, let's take a look around here.
31:48Very nice.
31:50This is the living room and over there is the dining area. It looks fantastic.
31:54We'll check out the kitchen in a second. Beautiful. I like how the living room feels slightly set apart.
32:01It creates a cozy atmosphere. And just over here is the TV room.
32:06The apartment is really bright.
32:07That's thanks to its orientation. The place is fully renovated. It comes from a project developer who specializes in this kind of modern redesign, which is quite trendy at the moment.
32:22That clean beige palette, the lovely wooden floors, and it's being salt fully furnished.
32:27It looks completely new. Björn, you could move right in.
32:33Yes, it's practical and tasteful. And the colors are very relaxing. Come over here and take another look at the view.
32:43Imagine waking up and having this sea view.
32:47I lived in Palm Beach, Florida for eight years. I had a view like this. And it was even closer to the sea. I could always hear the ocean.
32:55If Lefner wants to relocate his primary residence to Monaco, he has to buy an apartment in the Principality and provide evidence that he can afford a property there.
33:09He has to buy a property there.
33:15Kleiber advises the international elite.
33:22Many people here are well known in Germany.
33:28They work in different industries like real estate, shipping and oil.
33:36Many athletes like Formula One drivers and tennis players choose to live in Monaco.
33:41Nearly all Formula One drivers live here.
33:44The society is fascinating because it is so incredibly diverse.
33:48Ultimately, the allure of Monaco can be boiled down to a straightforward fact.
34:01Residents of the Principality do not pay income tax.
34:05This tax advantage encourages the super rich to invest in properties at prices that far exceed those in any other city around the world.
34:13How much should a 200 square meter apartment cost?
34:18Kleiber and Lefner discuss this matter on the balcony.
34:22They want 24.5 million, which aligns with the market price.
34:28What's the price per square meter?
34:30It's around 80,000.
34:32That's normal.
34:34The number of the super rich in Monaco is steadily increasing.
34:37Currently, there are approximately 40,000 millionaires, which accounts for about one-third of the population.
34:44Many of them have chosen to relocate here because the Principality provides a legal opportunity to pay little or no income tax.
34:57But there's a dark side to the wealth.
34:59Significant amounts of money are illegally transferred out of Germany to evade taxes.
35:03The German government loses 100 billion annually due to tax evasion.
35:10Anne Brauhilke is known as the hunter of the missing billions.
35:15Formerly Germany's most prominent public prosecutor, she is now dedicated to advocating for more effective prosecution of tax evaders.
35:24She has a deep understanding of the perpetrators and their motivations.
35:28It's not only greed. There's often a competitive spirit involved, an urge to demonstrate that you're smarter than others, that you can succeed where others can't.
35:42Many people seem to share this kind of ambition.
35:48Also, we shouldn't overlook the emotional significance attached to money.
35:53Having a substantial amount can give you status and recognition.
35:57It fulfills a deeper need.
36:00There's always someone who might own three helipads, so I might feel compelled to acquire a fourth to surpass them.
36:06Anne Brauhilke is determined to make a difference.
36:07As a public prosecutor, she tirelessly took tax evaders to court in the Cum-Ex scandal.
36:21In this case, investors received tax funds for amounts they had never actually paid.
36:27The German state lost an estimated 10 billion euros.
36:32For Brauhilke, it's a constant struggle against overwhelming odds.
36:37There are public prosecutors, tax investigators and police officers who face complex cases against expensive law firms.
36:45These firms often have entire teams dedicated to a single case and submit a thousand pages of documents each week.
36:55The public prosecutor or tax inspectors overwhelmed with numerous other cases and doesn't have the time to analyze every detail and determine what is only smoke and mirrors.
37:05They feel stressed and think, how can I compete? I only have a few hours a week to spend on this.
37:11There is a significant imbalance.
37:15Criminals often have one standardized approach.
37:18They formulate an idea and then ensure that they have a legal opinion written in advance or publish articles that support this viewpoint.
37:28Even if the legal arguments are flawed, the sheer volume of documents can be intimidating.
37:33Once there are dozens of such articles available online, it creates the illusion of legitimacy.
37:40It can be daunting to counter them.
37:45She is not daunted.
37:48Brauhilke successfully wins her lawsuits against the tax evaders.
37:52For the first time, a court has determined that the Cum-Ex schemes are illegal.
37:56Brauhilke is convinced that the search for the lost billions can be even more successful.
38:05If there was more personnel, well-trained staff who have the time to develop their expertise, they could overcome the challenges.
38:14It is possible to achieve this, but it is important to recognize that significant resources are required from the state.
38:23She has since resigned from her position as a public prosecutor, but she continues her mission.
38:35At the non-profit organization Finanzwende, Brauhilke works to prosecute criminal con artists more effectively.
38:45Herrenberg in Swabia near Stuttgart.
38:56A Bentley pulls up to a small factory site.
39:02Millionaire Björn Leffner is behind the wheel of the luxury limousine.
39:06Unlike his trips to Monaco in search of an apartment, today he acts as manager.
39:11Leffner is visiting his factory.
39:15He is known as the zip tie king of Swabia.
39:20Here we can check what's available.
39:23What colors do you want?
39:25You can pick from pretty much any color.
39:27Yellow, blue, brown.
39:29Here's one in green.
39:31These are the classic blitz binders that you can open and close over and over again.
39:36They're super durable and meant to last for years.
39:39Leffner is considering relocating his production abroad to increase profits.
39:49However, he also feels a strong obligation to his employees.
39:55We're committed to staying in Germany.
39:58We've been successful here for 70 years.
39:59Many others have relocated to Eastern European countries.
40:03Production costs are a lot lower in those areas because of reduced wages, lower taxes and lower energy prices.
40:10But we've decided to stay in our community.
40:13Our dedicated employees are an important part of our business.
40:17Some of them have been with us for decades.
40:19The factory is not just focused on making a profit.
40:26Its owner has a deep connection to his home country.
40:30In Germany, wealthy people have a bad reputation.
40:34They're frequently criticized for not embracing social responsibility, even though they have the resources to do so.
40:40Is this criticism justified?
40:44How many jobs do they create? How much tax do they pay?
40:50They need to pay their fair share.
40:53How many donations do they make in the fields of medicine or to hospitals?
40:57I believe the ratio here is quite fair.
41:02Obviously, the loopholes must be completely closed.
41:07That's not even a question.
41:10It's about fairness.
41:12As long as his factory operates efficiently, Lefner will keep producing in his home country, paying his taxes
41:22and proudly showcasing everything from his pinstripe suit to his Bentley.
41:28It's his way of doing things.
41:34In Monaco, people display their wealth with pride and confidence.
41:39Kamyam Mokadam profits from this.
41:43The interior designer has created a luxurious apartment
41:47and provides what exclusive customers need for their high-end homes.
41:50Jennifer Fesselet visits him at his design store.
41:55This here is our dream bedroom.
41:59I love the lamps.
42:02Everyone runs to the bed and says, I want that too.
42:05It's inspired by a luxurious five-star suite, where you can get everything from the chandelier to the bed and the carpet in one complete package.
42:13All available immediately.
42:15This bedroom comes in different variations and it's very popular.
42:21I love the fire extinguisher.
42:26That could only exist in Monaco.
42:30That's really funny.
42:32Yeah, it is chic, huh? It's all about the details.
42:35A red one is not that chic.
42:39Now I want to show you something really great.
42:44Our little private club.
42:46What kind of material is that?
42:49That's amazing. It's down wallpaper. It's unique in the world.
42:52It's unique in the world.
42:53It's unique in the world.
42:57I wouldn't have expected anything less from you.
43:00No.
43:02Now take a look at this.
43:06This is my personal playground, where the rich and beautiful from Monaco and around the world come to parties.
43:13It's a special clientele, certainly for special people.
43:20That's right.
43:22This club has been a childhood dream of mine, and I finally fulfilled it a year and a half ago.
43:27It's not a commercial club. There's no membership, and you don't pay for your drinks here.
43:36Entry is solely by invitation.
43:39You have to either be a mega-customer, a mega-friend, or a mega-VIP to be here.
43:48In this setting, Kamyam Moghadam fulfills his childhood dream and meets the desires of his elite clientele, including maximum discretion.
44:03The club has no name, no address, and no details.
44:07You cannot take pictures.
44:09You are allowed to film now because there are no guests.
44:12Filming is not allowed when we have guests.
44:14What happens here during the glittering nights remains a secret.
44:22What is known, however, is that only a select group of pop stars and super-celebrities attend.
44:31This is our main room.
44:34Over here we have a small separate area that we call the Chinese Room.
44:38Moving on, we have the lip sofa, which is very comfortable.
44:45Very comfortable.
44:49Absolutely.
44:51So, I'm curious, who has been here?
44:54Ah, well, you know, we can't mention all the names.
44:57But we hosted one of Bono's private parties here.
45:04He was very impressed.
45:07He called Jay-Z, who looked at the space during a video call.
45:14And Jay-Z said, I'm with one of my best friends, Madonna.
45:19And she hopped on the call.
45:23We have many big names here.
45:27But discretion is very important.
45:31Mogadam is highly successful because he always approaches his celebrity connections with a business mindset.
45:39If you want to host a party here at night, you should purchase your furniture from him during the day.
45:44Even if it's Beyonce or Taylor Swift, I need to make sure there's something in it for me.
45:56I have to check in advance whether there's a business opportunity to pursue.
46:04Or if they're only here to party and puke all over the place and then go home.
46:10I don't want that.
46:18What happens in Monaco's most exclusive party room stays here.
46:25This venue remains a hidden gem, reserved for a select audience.
46:30Mogadam's appointment calendar is fully booked for the rest of the year.
46:34By now, he has replicated his upscale club multiple times around the globe.
46:50Status symbols and luxury no longer hold any significance for Jimmy Hotvik.
46:55He once had everything before he had nothing.
47:00Hotvik has moved past the financial troubles that plagued his life and has also battled multiple bouts of cancer in recent years.
47:08These experiences have profoundly changed him.
47:11I'm happy today.
47:16I love training.
47:18It's the best thing there is.
47:20After a workout, I like to have a chat at the bar and then sip on my health drink.
47:24I know I've done something good for my body.
47:28I aim to train three times a week when possible.
47:31Sometimes it's twice a week depending on my schedule.
47:33When I have time, I always make sure to train.
47:36It's good for me.
47:38Jimmy Hotvik is in high demand.
47:41As an ambassador for the German Football Association, he shares his life experiences with others.
47:47His message is clear.
47:49Superficial gains matter little.
47:51He has long moved on from those who are always seeking more.
47:55They should think about who they're really doing this for.
47:58Deep down they know that one day they will die.
48:03What happens to the money then?
48:06Will the right people get it?
48:08Was it worth it?
48:10Should I have sacrificed my health for it?
48:13No.
48:15The people you interviewed, the billionaires who drive around showing off their wealth,
48:20they need to sit down and think.
48:23Money is important to them.
48:25But for me, it has lost its meaning.
48:29Money alone is useless.
48:34How much does a person need to be happy?
48:41Hotvik has found his answer.
48:44Having a lot does not necessarily mean getting a lot from life, as scientific studies have shown.
48:49I have come to the conclusion that the relationship between being rich and happiness is not straightforward.
49:00There is no guarantee that one follows the other.
49:05I know many people who have billion dollar fortunes and who are not happy.
49:11The pursuit of wealth continues to motivate people.
49:22The pursuit of money and luxury can be highly addictive.
49:26I spoke with somebody from one of the wealthiest families in Germany.
49:31They said that luxury is like a drug.
49:34You constantly have to increase the dose to feel something.
49:37When you're at the top, you can multiply your wealth easily.
49:42Over the next decade, the fortunes of Germany's super rich are expected to multiply rapidly.
49:48I want my money to last for the rest of my life.
49:54Hopefully I will have created something nice with the money I didn't need.
49:57I want others to enjoy it.
50:01Whether property constitutes an obligation is largely determined by the wealthy alone.
50:08It's a privilege.
50:11I live in a paradise.
50:15I don't want to complain.
50:17I am doing very well and I am pretty happy.
50:20Sometimes we have problems, but it's all relative.
50:23One thing is certain, having millions or billions does not guarantee happiness and contentment.
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