WalletPop

Reuters is reporting that the 24th richest man in the world is planning on spending $150 million starting a magazine, web site and TV station called -- get ready -- Snob.

Snob has slightly a different meaning in Russia. They think of a snob as someone who has made a lot of money in life and is entitled to brag about it if they want. In America, of course, we see a snob as someone who looks down on others who aren't as rich or as classy, and thus, the rest of us tend to look down on snobs. At any rate, Andrei Shmarov, one of the billionaire creating Snob, told Reuters, "It's for people who are successful and those who want to be successful."

The web site will be out in June, the magazine in July, and it will focus on lifestyle, business and travel articles. The cable channel will follow shortly after that.

But Shmarov isn't the only billionaire working on this project. One of his partners, according to the Moscow Times, is Mikhail Prokhorov, the fifth richest person in the world. He told the paper that the web site will have a social networking site. Don't bother looking for it online, though. This is the "don't call us, we'll call you" routine. The snobs at Snob are inviting about 3,000-5,000 people or so to be charter members on the social networking site. They only want educated, successful professionals.

"Wealth is not a criterion for membership, but it tends to be a quality of the target audience," said Shmarov to the Mowcow Times.

All I can think is... he's a billionaire... his publication is bound to pay well. I'm a magazine writer. If I could get in on the ground floor, I could make out like a bandit... Hmmm... Anyone think they can teach me Russian? In the next few weeks?

Geoff Williams is a business journalist and the author of C.C. Pyle's Amazing Foot Race: The True Story of the 1928 Coast-to-Coast Run Across America (Rodale). He doesn't like to brag, but it's been estimated he is the 639,345,712th richest person in the world.