Some executives drink a little wine in their free time. Others buy wineries. Bill Foley, chairman of Fidelity National Financial, an insurance company based in Florida with about $6 billion in annual revenue, bought his first vineyard in Santa Barbara County, California, in the mid-1990s and has since established a mini-empire. Foley Estates now produces about 35,000 cases a year, and Foley's more recent purchase, Firestone Vineyards, turns out another 150,000. Since giving up his C.E.O. post in June, Foley has been spending more time at his wineries, and he's now scouting properties in Oregon and Washington.

New Line Cinema co-chairman and co-C.E.O. Michael Lynne bought Bedell Cellars and Corey Creek Vineyards, both on Long Island, New York, for a rumored $5 million. He has since added others nearby. Dick Parsons, chairman of Time Warner, owns the six-acre Tenuta il Palazzone estate in Montalcino, Italy. Parsons, who visits several times a year, fell in love with the region and its brunello wine, made only in Montalcino from the sangiovese grosso grape. For those who might be tempted to follow suit, former Cartier and Richemont C.E.O. Alain Dominique Perrin has a few words of caution. Perrin has owned a winery in Cahors, France, since 1980. Despite glowing reviews and millions invested, he has yet to make a dime.

Stephane Colling
Wine director, L'Atelier, New York
We asked Colling, who has run wine operations at Paris and New York restaurants, to taste four well-known, executive-owned wines. (View slideshow.)

Snubbed!We didn't get to taste one wine: Screaming Eagle. Why? It's almost impossible to find, and the company refused to provide a sample. Selling fewer than 500 cases a year, Screaming Eagle remains one of the industry's most sought-after brands. The hype dates back to 1992, when critic Robert Parker gave the cabernet sauvignon a rave review. Fourteen years later, when real estate magnate Stan Kroenke (who counts the Denver Nuggets and St. Louis Rams among his investments) and money manager Charles Banks (who has clients in the National Basketball Association) bought Screaming Eagle from founder Jean Phillips, wine lovers hoped that the change would mean an increase in production. But the new owners have kept a tight grip on their product—Kroenke wouldn't even let his wife serve it at their daughter's wedding. There are reportedly 4,000 people waiting to get on the distribution list, and some determined oenophiles travel to Napa Valley to beg for access. Locals often refuse to give directions to the vineyard, though, so a better bet is the resale market. One bottle can fetch up to $3,000, says Morrell & Co. chairman Peter Morrell, who recently assembled a full set of Screaming Eagle, every vintage in every size, for a customer. Total cost: $550,000.

- Megan Angelo