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What do insanely rich people buy? (Good read)

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 1 week ago '12        #105
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sOurxd i e s e 20 heat pts20
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What do insanely rich people buy? (Good read)
 

 
Heres a old reddit post I came across and decided to share, Its a good read

I can answer this one. For some reason, I attract these people into my life. I don't do anything super extraordinary. I am not famous. But I count many peoplewith ultra high net wealth among my close friends and I have spent more time than even I can believe with 8 different billionaires. This is not just meet-and-greet time. This is small group and even one-to-one time. I dated the daughter of one billionaire several decades ago. So I have gotten a peek into this life.
Let's get one thing out of the way. There are gradations of rich. I see four major breaking points:

Worth $10mm-$30mm liquid (exclusive of value of primary residence).
At this level, your needs are met. You can live very comfortably at a 4-star/5-star level. You can book a $2000 suite for a special occassion. You can fly first class internationally (sometimes). You have a very nice house, you can afford any healthcare you need, no emergency financial situation can destroy your life. But you are not "rich" in the way that money doesn't matter. You still have to be prudent and careful with most decisions unless you are on the upper end of this scale, where you truly are becoming insulated from personal financial stress. (Business stress exists at all levels). The banking world still doesn't classify you as 'ultra high net worth'

Net worth of $30mm-$100mm
At this point, you start playing with the big boys. You can fly private (though you normally charter a flight or own a jet fractionally through Net Jets or the like), You stay at 5 star hotels, you have multiple residences, you vacation in prime time (you rent a ski-in, ski-out villa in Aspen for Christmas week or go to Monaco for the grand Prix, or Canne for the Film Festival--for what its worth, rent on these places can run $5k-20k+ per NIGHT.), you run or have a ontrolling interest in a big company, you socialize with Conressmen, Senators and community leaders, and you are an extremely well respected member in any community outside the world's great cities. (In Beverly Hills, you are a minor player at $80 million. Unless you really throw your weight around and pay out the nose, you might not get a table at the city's hottest restaurant). You can buy any car you want. You have personal a.ssistants and are starting to have 'people' that others have to talk to to get to you. You can travel ANYWHERE in any style. You can buy pretty much anything that normal people think of as 'rich people stuff'

$100mm-$1billion
I know its a wide range, but life doesn't change much when you go from being worth $200mm-
$900mm.
At this point, you have a private jet, multiple residences with staff, elite cars at each residence, ownership or significant control over a business/entity that most of the public has heard of, if its your thing, you can socialize with movie stars/politicians/rock stars/corporate elite/aristocracy. You might not get invite to every party, but you can go pretty much everywhere you want. You definitely have 'people' and staff. The world is full of 'yes men'. Your ability to buy things becomes an art. One of your vacation home may be a 5 bedroom villa on acreage in Cabo, but that's not impressive. You own a private island? Starting to be cool, but it depends on the island. You just had dinner with Senator X and Governor Y at your home? Cool. But your billionaire friend just had dinner with the President. You have a new Ferrari? Your friend thinks their handling sucks and has a classic, only-five-exist-in-the-world-type of car. Did I mention women? Because at this level, they are all over the place. Every event, most parties. The polo club. Ultra-hot, world class, smart women. Power and money are an aphrodisiac and you have it in spades. Anything thing you want from women at this point you will find a willing and beautiful partner. You might not emotionally connect, but damn, she's hot. One thing that gets rare at this level? friends and family that love you for who you are. They exist, but it is pretty damn hard to know which ones they are.

$1billion
I am going to exclude the $10b+ crowd, because they live a head-of-state life. But at $1b, life changes. You can buy anything. ANYTHING. In broad terms, this is what you can buy:
Access. You now can just ask your staff to contact anyone and you will get a call back. I have seen this first hand and it is mind-blowing the level of access and respect $1 billion+ gets you. In this case, I wanted to speak with a very well-known billionaire businessman (call him billionaire #1 for a project that interested billionaire #2. I mentioned that it would be good to talk to billionaire #1 and B2 told me that he didn't know him. But he called his a.ssistant in. "Get me the x*xgolf club directory. Call B1 at home and tell him I want to talk to him." Within 60 minutes, we had a call back. I was in B1's home talking to him the next day. B2's opinion commanded that kind of respect from a peer. Mind blowing. The same is true with access to almost any Senator/Governor of a billionaires party (because in most cases, he is a significant donor). You meet on an occassional basis with heads-of-state and have real conversations with them. Which leads to
Influence. Yes, you can buy influence. As a billionaire, you have manyways to shape public policy and the public debate, and you use them. This is not in any evil way. the ones I know are passionate about ideas and are trying to do what they feel is best (just like you would). But they just had an hour with the Governor privately, or with the Secretary of Health, or the buy ads or lobbyists. The amount of influence you have can be heady.

Time. Yes, you can buy time. You literally never wait for anything. Travel? you fly private. Show up at the airport, sit down in the plane and the door closes and you take off in 2 minutes, and fly directly to where you are going. The plane waits for you. If you decide you want to leave at anytime, you drive (or take a helicopter to the airport and you leave. The pilots and stewardess are your employees. They do what you tell them to do. Dinner? Your driver drops you off at the front door and waits a few blocks away for however long you need. The best table is waiting for you. The celebrity chef has prepared a meal for you (because you give him so much catering business he wants you VERY happy) and he ensures service is impeccable. Golf? Your club is so exclusive there is always a tee time and no wait. Going to the Superbowl or Grammy's? You are whisked behind velvet ropes and escorted past any/all lines to the best seats in the house.
Experiences. Dream of it and you can have it. Want to play tennis with Pete Sampras (not him in particular, but that type of star)? Call his people. For a donation of $100k+ to his charity, you could probably play a match with him. Like Blink182? There is a price where they would simply come play at your private party. Love art? Your people could arrange for the curator of the Louvre to show you around and even show you masterpieces that have not been exhibited in years. Love Nascar? How about racing the top driver on a closed track? Love science? Have a dinner with Bill Nye and Neil dGT. Love politics? have Hillary Clinton come speak at a dinner for you and your friends, just pay her speaking fee. Your mind is the only limit to what is available. Because donations/fees get you anyone.
The same is true with stuff. You like pianos? How about owning one Mozart used to compose music on? This is the type of stuff you can do.

IMPACT. Your money can literally change the world and change lives. It is almost too much of a burden to think about. Clean water for a whole village forever? chump change. A dying child need a transplant? Hell...you could just build and fund a hospital and do it for a region.

RESPECT. The respect you get at this level is just over-the-top. You are THE MAN in almost every circle. Governors look up to you. Fortune 500 CEOs look up to you. Presidents and Kings look at you as a peer.

PERSPECTIVE. The wealthiest person I have spent time with makes about $400mm/year. i couldn't get my mind around that until I did this: OK--let's compare it with someone who makes $40,000/year. It is 10,000x more. Now let's look at prices the way he might. A new Lambo--$235,000 becaome $23.50. First class ticket internationally? $10,000 becomes $1. A full time executive level helper? $8,000/month becomes $0.80/month. A $10mm piece of art you love? $1000. Expensive, so you have to plan a bit. A suite at the best hotel in NYC $10,000/night is $1/night. A $50million home in the Hamptons? $5,000. There is literally nothing you can't buy except.
Love. Sorry to sound so trite, but it is nearly impossible to have a normal emotional relationship at this level. It is hard to sacrifice for another person when you are never asked to sacrifice ANYTHING. Money can solve all problems for someone, so you offer it, because there is so much else to do. Your time is SOOOO valuable that you ration it. And that makes you lose connections with people.

Anyway, that is a really long answer, but I have a very unique perspective because I have seen behind the curtain of the great and mighty OZ. just wanted to share

EDIT: Wow! An unbelievable response to this (8x gold and 6000 upvotes. OMG) Thank you for all the comments and PMs. I am working 14 hour days right now, so I can't answer most, but to answer the most common PMs:
Seeing all of this doesn't make me want to get into the top tier. Different lives have the same emotional degree of difficulty:

I met Sylvester Stallone at a party a few months back for the first time. Great guy. Has a beautiful, smart wife and a great career. He had a special needs son who died young. Nobody has it all. Nobody.
+82   
 1 week ago '16        #104
Boogersugar 55 heat pts55
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But I thought rich people wore hand-me-downs and drove economy sedans according to BX financial gurus

Is it oochie wally or one mic
+49   
 1 week ago '05        #103
kriskross00 124 heat pts124
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Always wondered if Jay-Z ever eats top ramen or Kraft mac and cheese

Gotta be a lazy day where they just want to pop in a frozen burrito rite? rite??
+34   
Top 10 most propped recently  1 week ago '17        #102
justin747 37 heat pts37
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 sOurxd i e s e said
Heres a old reddit post I came across and decided to share, Its a good read


Had to stop reading right here unfortunately.

Yall really gotta stop believing the bullsh*t you read on reddit. 99% of that sh*t is


[pic - click to view]



The only thing anybody should be going to reddit for is tutorials, sports streams, and pr0n. Ignore literally everything else because it's all fake stories and "viral" marketing gimmicks
+24   
 1 week ago '16        #101
YungVino 1 heat pts
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Man someone just toss me a couple thousand. That's all I need man. Tryna pay tuition for grad school, pay for my pop's health bills, and get my mom out the hood. Once I do that then my life is complete. Just throw a couple thousands my way first, couldn't even imagine having a million to my name.
+23   
 1 week ago '15        #100
KING SOULJA 33 heat pts33
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and cocaine
+22   
 1 week ago '16        #99
Dick Armey 
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success is what you make it, take it how it come
a half a mil in 20s like a billion where im from

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 1 week ago '17        #98
The Gary Group 
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Life definitely changes after 100 mil. That's when them bald faces have them Eyes Wide Shut parties and Mister Dee sessions
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 1 week ago '14        #97
strungout 396 heat pts396
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They buy the most precious thing of all ......time

And make us work those long hours , while they ride horses and shoot archeries
+14   
 1 week ago '04        #96
Fresh Beats 1 heat pts
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I remember this thread. Just like it says, after the first 100 million, I can’t see life changing much until you get to the billionaire boys club.
+13   
 1 week ago '07        #95
stogz 19 heat pts19
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They buy the freedom of poor people.


no need to read the article.
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 1 week ago '12        #94
acefresh 21 heat pts21
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 kriskross00 said
Always wondered if Jay-Z ever eats top ramen or Kraft mac and cheese

Gotta be a lazy day where they just want to pop in a frozen burrito rite? rite??
Hov ain’t touch frozen food since 96
+12   
 1 week ago '12        #93
OldBusiness 173 heat pts173
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 Boogersugar said
But I thought rich people wore hand-me-downs and drove economy sedans according to BX financial gurus

Is it oochie wally or one mic
I used to work for a Berkshire Hathaway owned company, and Warren Buffet would come speak to us once a year lol.

He said his favorite thing hes spent his money on was 4 lincoln town cars lol
+9   
 1 week ago '09        #92
TheNetworkBlast 16 heat pts16
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 YungVino said
Sometimes I wish those insanely rich folks were required to give back to the lower class...this would solve so many problems in society. Imagine if the top 1% gave 2-3 billion each to support the lower class. It would significantly improve conditions. There's actually folks out there worth $130 billion (Jeff Bezos) ...he could damn near end world hunger if he gave half his wealth to f!ght those causes. Just thinking out loud, and I understand we all have to grind and work hard for anything we want in this life.
every time i hear or see this i just want to punch a fu*king wall. people need to get this "give" sh*t out their fu*king mind. nobody has to give anybody sh*t. the less fortunate need to figure out how to get out of the space their in, that's all. that super rich person doesnt owe anybody sh*t, but to live happy and die. and if giving aint in his/her happiness, oh well. what will you do about your situation that's it. if they were to give "each person x amount of money" what does that really do for them, the rich people? the poor person goes "oh i feel so great for their MONEY", not the person. then what do they OWE THEM IN RETURN? nothing? how is that fair? if you're not mentally challenged or handicap, get on your grind and get it. survival of the fittest.

not coming directly at you, just this mentality. stay safe
+9   
 1 week ago '17        #91
SimeonWisest 
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Reddit is filled with soy boys, incels and other forms of degenerates with a lot of imagination.
First thing I call bullsh*t on: the first category is 10 to 30 million in liquid a.ssets excluding residence. Then the metrics for category two changes to "net worth" of 30 to 100 million.



Trust me a person with a net worth of a 100 million would be hard pressed to have 30 million in liquid a.ssets laying around. Someone with 30 million liquid is most likely beyond category 2. A lot of these multimillionaires have most their money tied up in real estate, land and valuebles and businesses.

A lot of people don't know this but you can have a high net worth but still be living relatively normal especially if you're a business owner. You might have a company that's valued at 20 million based off it's yearly revenues of 10 million.
After operating costs, taxes etc you might have 2 million in profit. If you're smart probably half of that you'll reinvest into your business. At the end of the day you might see 1 mil, maybe even less in liquid a.ssets.

Still because of your net worth which includes your company you have access to a line of credit that can have you living in a modest mansion, with maybe two exotic cars and some family cars. This line of credit is based off your company being held as collateral though.
A person like this could thus be worth let's say 20 million (company, a.ssets etc) - 5 million in liabilities (credit, mortage etc) = 15 million.

Yet when it comes to cash and liquid a.ssets he might not even have 1 million just laying around.
If he really gets jammed up he'd have to start selling cars, houses and maybe even his company to actually have his net worth in liquid a.ssets.

That also explains how some of these rappers can declare themselves bankrupt but still have money. You can be bankrupt as in your not liquid enough to cough up let's say 10 million cash. But your net worth is still high because of things you own. In that case bankruptcy procedures will start liquidating your a.ssets. That means selling all those Ferrari's, jewelry, businesses etc to create cash or liquid a.ssets. But you're by no means "broke"



Last edited by SimeonWisest; 01-11-2019 at 03:14 AM..
+8   
 1 week ago '05        #90
Daddy Black 2 heat pts
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Man. And to think a person like Jay Z who came from nothing is now part of that elite. Or Oprah. Thinking about the moves they made in life to get to where they are is amazing.
+8   
 1 week ago '16        #89
YungVino 1 heat pts
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Sometimes I wish those insanely rich folks were required to give back to the lower class...this would solve so many problems in society. Imagine if the top 1% gave 2-3 billion each to support the lower class. It would significantly improve conditions. There's actually folks out there worth $130 billion (Jeff Bezos) ...he could damn near end world hunger if he gave half his wealth to f!ght those causes. Just thinking out loud, and I understand we all have to grind and work hard for anything we want in this life.
+7   
 1 week ago '17        #88
lucifershammer 15 heat pts15
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rich people are cheap as fu*k

they are willing to spend $$$$$$$$$$ to keep people like u away
+7   
 1 week ago '05        #87
Sluggernaut 24 heat pts24
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We’re all just a small invention or investment away from our own fortune.

Just gotta work for it y’all.
+7   
 1 week ago '09        #86
Baynut 5 heat pts
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As a man, who works A LOT and makes a good living, this part hit me the most/hardest:

Love. Sorry to sound so trite, but it is nearly impossible to have a normal emotional relationship at this level. It is hard to sacrifice for another person when you are never asked to sacrifice ANYTHING. Money can solve all problems for someone, so you offer it, because there is so much else to do. Your time is SOOOO valuable that you ration it. And that makes you lose connections with people.
Straight facts, I know this to be true personally, because it has happened and is happening to me. At the end of the day, you as a man have to decide if it's worth it, for me it is and was. Besides my parents, sister, gf and animals, I have no other personal connections and I prefer it that way.

One of the best posts I've read on BX in a while, thanks for sharing.


Last edited by Baynut; 01-11-2019 at 01:46 AM..
+7   
 1 week ago '13        #85
North!!! 434 heat pts434
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Use to read this all the time

Man gotta experience a pj ride at least once

You live in
I land on
Difference between our pj’s
+6   
 1 week ago '05        #84
ChickzNKickz 102 heat pts102
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Bezos is worth 137 Billion and risked it all for some pus*y.

As long as man rules the world, pus*y will continue be the most expensive purchase.
+6   
Top 10 most propped recently  1 week ago '17        #83
justin747 37 heat pts37
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 Anti said
This is all facts.
- Certified specialist in duck tales.

*gives gold*
Wow thank for the gold kind stranger!



























I fu*king hate the comments on that website with a passion.
+5   
 1 week ago '09        #82
TheNetworkBlast 16 heat pts16
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 qutaboi225 said
The problem is.....in order to get in that "tier" you have to walk on the backs of those very people who you say should "work harder". Jeff Bezos doesn't work harder than a lady doing doubles at waffle house. Companies that big directly cause poverty. Its a top heavy system and a causality of Capitalism. There is no Apple billions without children in slave-like conditions. There is no Amazon without underpaid overworked warehouse workers. That much money is the result of a loop hole in a rigged system. ALL of it. It's like finding a way to filter ocean water into pure clean water. You would fu*k up the ecosystem for local poorer folks who more than likely work for your factory. Then when they can't live off the fish or the wage, people like you say fu*k you i'll keep some insane amount of money i could never spend and YOU should just figure it out, as if becoming rich is some easy task that every person can do. The humanity in you should realize you can't possibly spend 100 billion in generations. One quarter of that could change humanity forever. But people like you look at it as handouts. fu*k you and fu*k humanity.
There's no changing your mind and that's cool. But there are points you made that are just out right false. It's people like you who will never make it to that tier or understand that Bezos DOES work harder than that waffle house employ. I mean, didn't you see the movie the social network? You know how many hours Zuckerberg put in to make that website a reality? And then the hours and hours he had to put in to sustain it, to make his dream a reality? that's not worth billions to you?

Anybody can be a waffle house employ and work doubles, but not everybody can be a Jobs or Bezos. I don't know how that doesn't make sense. I know a few multi-millionaires who work out of their cars from 6 am to or 10 pm making sh*t happen, so the "waffle house worker" like staffs of america can put food on the table, since they don't have it in them to create job opportunities for others. These people at the top, making sh*t move, are responsible for a lot of families surviving.

Amazon not only has a "labor force", but they've also created a way for entrepreneurs to make money from referring people to products on the site, and make a sustainable income just off of THAT alone. Their affiliate programs has made some millionaires.

So why wouldn't a person, who has made OTHER people millionaires...people that he DOESN'T EVEN KNOW millionaires, have billions?

Ya'll just really don't know what the scope of being a boss takes. That's why you'll always have that worker mentality.
+5   
 1 week ago '16        #81
MacFrugal 
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 ladondaddy said
Smoked n read this... dope read no doubt.. epecially off da trees!!
thank you for quoting that long a.ss post to add this idiotic feedback!
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