Reporting from Train Car No. 50: John Paul DeJoria, the billionaire co-founder of Paul Mitchell hair products, has some advice for John McCain.

"The only thing that would make [McCain] look better is long hair pulled back in a ponytail. My God, that would be cool," says the 64-year-old billionaire who's famous for his own signature ponytail.

Though DeJoria is mostly known for Paul Mitchell, he's also the founding owner of Patrón Tequila, one of the first high-end tequilas to hit the top shelf. His hair-care line rakes in a reported $800 million annually, but, according to DeJoria, it's Patron that makes him the big bucks. That's why he's further expanding into liquor—he also owns the premium rum Pyrat—with the recent purchase of Polish vodka Ultimat. Since July, he's been slowly introducing Pyrat into the U.S. market.

Besides hair and high-end spirits, DeJoria is into politics. A week after he hit Denver for the Democratic National Convention, he's in St. Paul for the Republican confab. His ride—a renovated and redesigned 1927 train car that once carried Presidents Franklin Roosevelt and Harry Truman, who gave "whistle-stop" speeches off the back. Other regular passengers in the old days were "The Kingfish"—Louisiana Senator Huey Long—and actor Clark Gable. 

This week, guests coming aboard Car No. 50 include Mike Huckabee, the former Arkansas governor who ran against John McCain in the primaries; Minnesota Governor Tim Pawlenty, whom McCain considered to be his running mate; and Senator Norm Coleman, who is running for a second term representing Minnesota against comedian Al Franken.

DeJoria first got his hands on Car No. 50 from Isaac Tigrett, his friend and business partner, who made him an early investor in the House of Blues and Hard Rock Café. In 1993, DeJoria and his 51-year-old wife Eloise used it to ride across the country for their honeymoon. When Tigrett couldn't keep it up anymore, DeJoria took No. 50 off his hands.

Now, running on biodiesel, the car is decked out with 17th-century paintings, Gothic Scottish woodwork in the dining room, 400-year-old woodcarvings from India in the parlor and other antique opulence throughout. DeJoria reincarnated Car No. 50 as the Patrón Express.