Business tycoon, Richard Lugner, once partied with the stars but has now fallen from grace and is swamped with debts of more than £34million.
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Business tycoon, Richard Lugner, has admitted he is in massive debtCredit: Getty – Contributor
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Richard with former Spice Girl Geri Halliwell arriving at Vienna’s traditional Opera Ball in 2005Credit: Reuters
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The 91-year-old has paid out huge sums to get stars like Kim Kardashian, Paris Hilton and Priscilla Presley to take his arm at the swanky event.
But it has recently emerged that the self-styled Austrian billionaire is actually massively in the red.
Just weeks ago Lugner was bragging about inviting Elvis’s widow to join him in his box at the high society ball at Vienna State Opera Theatre.
But his secret debts were revealed during a press conference when local media suggested that next year he should invite Pretty Woman actress Julia Roberts.
The retail boss admitted he owes a fortune in Euros saying: “With my 40 million in debt, that will be difficult.”
He added: “I will try to reduce the debt as long as I live. I don’t want my heirs to suffocate because of it.”
Kugner had called the conference to thank 78-year-old Priscilla Presley for being his guest last month.
Photos from the event showed a delighted Lugner in white tie and tails dancing a waltz with the star.
He said: “She told us that she had spent wonderful hours with us and that the opera ball was really a fairytale ball with the wonderful floral decorations.”
Lugner, holding up a glamorous publicity photo of the star, had previously thanked Priscilla for “not causing any issues” in their negotiations.
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The five-times wed bachelor told local media: “My daughter Jaqueline held the talks. I was involved though.
“In contrast to previous years, there were no major issues.”
He added: “The weeks leading to the Opera Ball are a hectic time for me. It’s not easy.
“I don’t know many of today’s most famous actors. But I do know Priscilla Presley.”
Lugner, famous for his love of glamorous women, has previously invited stars Pamela Anderson, Kim Kardashian, the Duchess of York, and Paris Hilton to escort him to the event.
Not all of them seemed happy to be there.
He once described former Spice Girl Geri Halliwell as “the most difficult guest of all of them.”
Richard’s last wife was German TV presenter and former Playboy model Cathy Schmitz who is 57 years his junior.
The pair parted ways in 2016 after being married for two years.
The entrepreneur also made headlines by claiming that Grace Jones had sex with her boyfriend in his box.
Lugner reportedly pays each of his celebrity guests a six-figure sum for attending the event with him.
They are also contracted to take part in autograph signing sessions for fans at his Lugner City shopping centre.
The tradition-rich Vienna Opera Ball is one of the high society highlights of the year and has been running since 1814, drawing blue bloods and VIPs from all around the world.
Even the cheapest ticket for the event costs £331.
It comes as Richards’ ex wife Cathy shocked fans when she tried a treatment for dark under eyes called carboxytherapy.
The controversial method involves tiny needles firing carbon dioxide gas into the skin.
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Richard Lugner and his ex-wife Cathy SchmitzCredit: EPA
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Richard (pictured here with Priscilla Presley) said he’s £40million in debtCredit: BackGrid
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Richard is famous for persuading A-listers to join him at a lavish ball here he’s pictured with actress, Simone Reilaender
