economia online staff 30 Mar 2017 04:37pm

How to spend £200m

With the introduction of the new pound coin, the Treasury estimates there will £200m worth of old pounds left unspent. We think about how that money could or should be used
Caption: We examine just how far £200m could take you.

Entrepreneurial spirit

After buying a few houses in sunny climes; paying for my husband to retrain as a restoration builder; treating my friends and family, and donating some of my millions to environmental charities (post-Trump) I would then become a business investor.

Not so much Dragons’ Den as Joy Mangano, the entrepreneur played by Jennifer Lawrence in Joy, who at the end of the film starts to invest her hard-won fortune in ordinary folk with extraordinary ideas. The type of people who dream big but who traditional lenders sniff at.

The Joy Mangano Foundation has teamed up with non-profit Rising Tide Capital to empower first-time entrepreneurs to use their creativity and talents so they too can build businesses that transform their lives and the lives of those around them. That’s what I’d do with my millions.

(Amy Duff)

Pedal to the metal

I would build a collection of classic cars and buy or build a track on which to enjoy them, with all the facilities to house and maintain them properly. The focus would be on classics from the 1960s, with a first stop being a Ferrari 250 GTO and a Ferrari Dino, followed by a Lamborghini Miura and a lightweight racing Jaguar E-Type.

Seeing as we have the track, it would be rude not to invest in some old F1 racing cars for fun as well. To drive home, I’d opt for a bespoke Porsche revamp from US firm Singer. It’s that or 200 million Pot Noodles. 

(Richard Cree)

A long shot

If the last 12 months have taught us anything it’s that the world has gotten weird. Things happen that shouldn’t. Unlikely has become the new normal, to the point that when news breaks of an event or result, that just a little while ago would’ve given me pause or caused mass outrage, it now barely elicits a shrug.

As such, this scenario does not surprise me. I could be given £200m tomorrow for no apparent reason. Big deal. I would gamble it all on a long shot. Favourites don’t win these days.

(Raymond Doherty)

Fly me to the moon

When CEO of SpaceX Elon Musk announced last month that two wannabe space tourists had paid for a private mission round the moon, possibly in 2018, he refused to say who they were or how much they were paying. He did, however, imply that the cost would be a little bit more than a crewed trip to the International Space Station.

NASA currently pays Russian space agency Roscosmos about $81m (£65m) for the 440-mile round trip ticket. So since the SpaceX trip will last a week, skim the moon’s surface, and then travel further into space by up to 400,000 miles before returning to earth, I reckon I will have little change from the £200m after buying two return tickets.

(Julia Irvine)

Life's a beach

What could be more exclusive that having your own island? With £200m in your pocket, you could buy the Rangyai Island in Thailand, one of the most expensive islands in the world. The 110-acre piece of land costs $160m and is the largest island currently available for sale in the region.
Rangyai is close to both Phuket and Coconut Island and is located 20 minutes away from Phuket International Airport. The island is known as being the perfect place to discover cultured pearls, which could explain why it’s also known as the "Phuket Pearl Farm". It produces top quality pearls for export around the world, according to the island's official website.
With the spare money, you could get yourself a nice yacht to sail to your new island and explore other neighbourhood paradises in south-east Asia in your spare time.

(Jessica Fino)

Don’t Swett the small stuff

Have you ever considered being the mayor of your own town? That dream could become a reality, with the purchase of the small town of Swett, South Dakota. Although you may have to spend just over £200m, splashing the extra £725,000 is probably worth the investment.

Originally founded in 1931, the town once contained a post office and local shop, trappings of bygone success when the now-empty town had as many as 40 inhabitants.

Besides a quiet and secluded three-bedroom house to relax in, the purchase also includes the 2.5 hectare plot of land the town stands on, an old tyre shop and the aptly named Swett Tavern. 

(Danny McCance)