The discussion surrounding billionaires and wealth accumulation received major hype during the COVID-19 Pandemic when people were losing their jobs and restoring to gig work just to stay afloat and all the while, billionaires continue to grow richer and richer by the minute.
This caused a lot of backlash and debate but soon after the pandemic, it died down. Now billionaires like Elon Musk and Jeff Bezos continue to amass more and more wealth and leave many people wondering what they spend their pretty penny on.
In the times of ancient Greece, fresh meals and fancy apparel were considered to be signs of luxury and wealth. Egyptians had a different view of wealth which consisted of fragrances made from rare and rich ingredients and ostrich eggs.
In the 1920s, New Yorkers with pearl bracelets, convertibles and fur coats were the wealthy ones. So, what luxuries do today’s billionaires enjoy?
3-day Trip to Singapore
In today’s world, owning a fur coat is no big deal but spending 3 days in Singapore sure is. Singapore is one of the world’s most expensive cities and for rich people, it is a perfect attraction.
Just take a look at the Singapore Grand Prix weekend, it couldn’t get any more luxurious than this. A person would have to get a room in the exclusive Ritz Hotel which charges $13,000 for a night. Now onto the event with VIP Access, the racing team’s paddock, and box seats which were offered by Red bull for almost $11,000.
After an amazing event, you would want to celebrate with a nice dinner, maybe at Zen, a 3-star Michelin restaurant, which would come to $1600. The list goes on and on but who can afford all that? Billionaires.
B for Billionaires
It is only people with generational wealth and billionaires who generally spend $50 to $80 million on their lifestyle, getting the best of the best. Even multimillionaires like your favorite celebrities might have to think twice before setting foot but not the Ultra-rich.
That is because these people are the pharaohs of today who have control over the business world and they only happen to be 3,311 and this handful of people amount to 13.9% of the Global GDP. Surprisingly, the location of the wealthy is not limited to the North American region.
In fact, there are billionaires from Moscow, Hong Kong, Shenzhen, Dubai, São Paulo, Singapore, and even Mumbai.
What Do They Spend On?
This question remains partially answered because while you know that they fund their lavish lifestyle and show off their seemingly never-ending fortune, some of the ultrarich are on the opposite end and don’t fall into the same category and frankly, are not keen on impressing anyone.
A confusingly unique example would be Elon Musk, the man who bought Twitter on a whim but claims to own no houses or apartments and couch surfs for the most part.
All this money comes with a new mentality that normal folks can understand.