Excess for success

When King Louis XIII of France began work in the first half of the 17th century on what would become the world-famously opulent Palace of Versailles, 20 kilometres southwest of Paris, it essentially marked the beginning of the end of the Bourbon dynasty he ruled.

The extravagant luxury that Versailles represented and the money it consumed in construction - estimated at as much as US$2 billion at today's prices - were flashpoints for the poverty-stricken revolutionaries who decided the decadent monarchy had had its day and marched Louis' great-grandson, along with Marie Antoinette and large swathes of the French aristocracy, off to the guillotine.

Hong Kong banker-turned-socialite businessman, Stephen Hung, hopes for something rather more rewarding for his Macau-based hotel and entertainment venture that has taken Louis XIII as its name in homage to the ultra-exclusive lifestyle concept it represents to the ultra-high-net-worth clientele he serves.

"Versailles as a palace was the beginning of the end, but the lifestyle it inspired is still here today if you think about it," Hung, joint chairman of Louis XIII Holdings, told Money Magazine.

"We are looking around the world and picking the elements of something very long standing that represents luxury in the ultimate sense, that stays for centuries, and that will stay for centuries after we are all gone."

The former co-head of Asian investment banking at Merrill Lynch personifies the ultimate luxury lifestyle he's selling.

Trademark red-dyed hair, a wear-once-only haute couture wardrobe and a fleet of supercars - including a Bentley with bright red gold-flecked bodywork and a sports car so unique it's called the Stephen Hung Edition by its makers, Pagani Huayra - are the affectations of a lifestyle that leaves the casual observer in little doubt that the purveyor of pure opulence knows what he's talking about.