How the Rich Spend Their Money

by Rigel Celeste (RSS feed)
Apr 8th 2008 at 4:02PM

Having a million dollars isn't what it used to be. In fact, having a million dollars in the bank in today's world only equates to being a "middle-class millionaire." To be truly rich you'll have to clear somewhere around $10 million in the bank, and to be considered "crazy wealthy" those stacks of dough will need to add up to more than $30 million. That is a lot of money.

So what to the rich and the crazy-wealthy of the world do with all that cash? Of course they all have their quirks, but some things are pretty consistent: lavish home improvements (think private massage rooms and relaxing zen gardens), one-of-a-kind jewels and jewelry, obnoxiously fast and expensive vehicles, fashion fashion fashion, lots of traveling to exotic locations, and of course all kinds of conveniences and amenities like concierge services and fine dining.

If you had unlimited funds what would you most look forward to spending it on?

Tags: billionaire, billionaires, celebrities, celebrity, expire-images2009-4-8, middle-class millionaire, Middle-classMillionaire, millionaire, millionaires, money, rich, spending

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ZD Apr 8th 2008 4:27PM

If I had dough, I would spend it on:
1) Homes: I would like to have a nice luxurious home somewhere very metropolitan area, maybe a nice 3-story penthouse in Manhattan. A couple of nice "escape from the world" properties in a secluded part of the world, and a nice cozy cottage somewhere in Switzerland, near the Alps.
2) Cars: Limited edition supercars like the Veyron, and my daily beater would be Ferrari or Lambo.
3) A jet to take me to my hideouts.
4) A fortress of solitude like superman in the north pole!
****
Ok, I just woke up and realized that my head was wedged deep in my backside! lol back to work, and salvery! :)

cutegirl Apr 9th 2008 9:29AM

1. I would definitely spend the big bucks on teaching you bloggers how to use spell check.

2. I would probably fly privately all over the world using the Private Air Charter, Rock-it Air through Hollywood's own A-Zone Los Angeles (but we won't mention any names,owner luxe boutique, Ana Velasco ) who offers this to the Billionaire Mogul A-Listers only. Don't be surprised if you don't receive a phone call back from her, that's just it..2 #1 box off hits won't get a call back. Amongst the rich and famous it's the talk of the town. Get the call back but not from William Morris.
Where are the hot moguls?

beanspants Apr 8th 2008 5:30PM

Having only $1 million in the bank may make you a "middle class millionaire", but there are only 2.5 million households in the US (out of 105mm) that actually have that.

There are another 7mm with a net worth of over $1mm, including the equity in their primary residence (as of last year before homes took a dive in value). But good luck getting access to that right now.

So the US has a pretty high waist if between 2-10% is the middle. I think we call it "the middle" so that we don't feel quite as poor as we all actually are.

newmi Apr 8th 2008 7:34PM

Good food and travelling the world (in comfort, of course), that's all I want.

C Moe Apr 8th 2008 11:59PM

Whores of all shapes and sizes from exotic lands!

Frank Apr 9th 2008 8:48AM

Booze and Hookers

Sir Lucius Apr 9th 2008 10:03PM

With unlimited funds I would,

1) Buy a penthouse in 15 Central Park West
2) Get a Hermes Limited Edition Bugatti Veyron
3) Build a custom Airbus A380 plane
4) Purchase a flight on Virgin Galactic
5) Buy News Corp and shut down Fox News
6) Hire my favorite models to create a calendar just for me
7) Finance, produce, and distribute my own 3D movies
8) Build a private theme park with over 20 roller coasters, most of them record holders in some category
9) Buy a U.S. Senator & State Representative
10) Have a building named after me at every Ivy League University
11) Start a car company that only manufactures hybrid biodiesel/electric cars and trucks
12) Get a gold plated 17" MacBook Pro with Oak Trim

Okay, that's enough day dreaming...back to work.

roger.sinasohn Apr 9th 2008 10:31PM

#1 Staying home with my kids (by replacing my job income with investment income)

#2 Buy more hard drives (to hold pictures of the kids)

#3 A few non-profits

#4 Houses -- Russian River, my mother-in-law's, and maybe Vancouver, BC.

#5 a yacht

That's about it. Maybe $150k worth of cars (including a Tesla), some other toys, but nowhere near millions.

art Apr 11th 2008 1:35PM

My Goodness! Nary a single word about Charity.

Isaac Apr 12th 2008 6:00PM

Dear Art, Roger in comment 8 did mention a few non-profits. But if I had unlimited funds, I would certainly set up an endowment for me (and my future family); about $12-15 billion should suffice. I would also get a couple of Macs (iMac, MacBook Pro, MacBook Air), get a Gulfstream V AND a retrofitted Boeing 737, a big energy efficient house on at least three continents, a Rolls-Royce AND a Bentley, outfit the houses with all the latest technology, and of course have as many whores as possible.

Having said all of that, I would also set up a trust for at least four or five charities of my choice, endowed with at least $1 million each. Naturally, I would set up a whole lot of businesses to keep the cash rolling in. These would specialize in financials and property, especially consumer needs. (Why have a credit card when you can issue them?) Perhaps a couple of more cars as daily drivers.

Nijnsky Sep 9th 2008 8:45PM

1) Some downtown property, only blocks at a time. And start business ventures to earn me more play money.

2) Hot LV Luggage, Purses, blouses. And a be regular to the Designer's show room.

3) Cars, I'll stick to Jaguars.

4) Build a sky scrapper or two and make that my home.

5) Other business ventures that come along.

6) Ohh... All the best education I can obtain in my brain.

info Apr 24th 2008 12:26PM

This tiny snippet goes to show the world how Men are still pigs no matter if their rich or poor.

PIGS!

GoGreen Jun 3rd 2008 3:06AM

Unlimited funds?

I would:
- fund the research and technology to help stop or minimize different types of pollution
- increase recycling projects and efforts
- invest a lot of money in companies that produce organic and non-toxic products

and I'd definitely get a nice, big, eco-friendly house and hybrid car! :)

Angel Feb 9th 2009 1:34PM

With unlimited funds I would feed the hungry, help pay for meds...It is great to give but know what and whom you are giving to.. My dream has always been to give greatly to St. Judes, The Cancer Foundation and Heart Assocation. Oh yes I admit I would like to pay off my house, send my husband back to Vietnam so he could possiably come to grips with what happened there. To be able to help disabled veterans. What else are dreams made of. I say thank you to the many who have given so generously, God bless you!