What Do The Super-Wealthy Spend Their Money On? (Tip: It’s Not What You Think)
Most of us spend so much time toiling that we rarely get a chance to reflect on what it must be like to be a member of the world’s super-wealthy. But we can get a sense of what it must be like by being nosy about their spending habits.
What do the likes of Christiano Ronaldo, Will Smith, and Kylie Jenner like to spend their fortunes on? Where do you put your money when you have hundreds of millions of dollars in the bank? Let’s take a look.
Security Guards
Having all that wealth is one thing, but keeping it is quite another. More than 90 percent of those worth more than $25 million spend a substantial chunk of their income just on keeping their possessions and bodies safe. Many hire private security to protect them whenever they venture out in public and housekeepers to look after their primary properties while they’re away.
A Luxury Car Garage
The statistics on https://www.celebrityspendcomparison.com/ are incredible and put into perspective just how wealthy many of the wealthiest celebrities in the world are.
Take Kylie Jenner, for instance. According to the site, she recently spent around $250,000 on a Lamborgini Huracan – that’s a lot of money to spend on a car, and about the same cost as 3,200 weekly supermarket shops (enough for a lifetime).
What’s fascinating, though, is just how tiny a fraction that $250,000 was of her net worth. Jenner charges more than three times that for a single sponsored post on her Instagram account and is estimated to have a net worth of more than $1 billion. (She could buy more than 4,000 Lambos and still have change leftover).
Philanthropy
Many of the world’s wealthiest people have realized that there’s only so much money that they can spend on themselves. There comes the point where you have all of the mansions, cars, and private jets that you could ever want.
A lot of them, therefore, decide to refocus their efforts on helping their fellow man. Bill and Melinda Gates, for instance, have turned the majority of their fortune over to helping install toilets in the third world. Warren Buffet has pledged a big stack of his pile of wealth to the Bill and Melinda Gates foundation too. Even Mark Zuckerberg, the ever-popular Facebook CEO and billionaire says that he will donate the vast majority of his income to philanthropic causes.
Promoting Their Next Big Thing
Whether it is a fledgling business or a large amount thrown at pushing the next promotion for SoundCloud songs that they have created, there are many wealthy people who are focusing large amounts of money on getting to the next level in a separate field. You will often find a successful businessman throwing all they can to get a passion of theirs off the ground, or even the efforts of one of their children noticed. But it’s commonplace for rich and wealthy people to take a new love, a new passion, or even a new hobby to the next level just by investing heavily in it.
What Problems Could Billionaires Solve With Their Money?
There are all kinds of problems that billionaires could solve with their money, according to https://richtopia.com/. According to the site, if every billionaire donated $463 million, it could wipe out America’s credit card debt of nearly $1 trillion.
Equally, billionaires have enough wealth to pay off all private healthcare debt in the US.
Billionaires could also raise the minimum wage to $15 per hour or buy a home for every homeless person in the US.
So, there you have it: how billionaires spend their money. Would you enjoy the billionaire lifestyle?