WHAT DO THE RICH SPEND THEIR MONEY ON?
Shopping and spending habits of the rich are always a topic of great interest and discussion. So what do the rich spend their money on?
8 things the rich spend money on
1- Real estates
Real estate always accounts for a quarter of the total assets of the super-rich. In addition to serving their luxury living needs, this is also an investment channel that is quite popular among the wealthy.
2- Luxury Cars
Owning many supercars and luxury cars is already familiar to the wealthy around the world.
Owning a super car is no longer within the scope of serving the rich’ commuting needs, but also a lever for their career, image and personal brand.
3- Luxury Accesories
When talking about the super-rich, it is impossible not to mention luxury watches and branded goods that they own.
What do the rich spend their money on? / ph: pexels
The watch brands that the wealthy wear such as Rolex, Hublot, Franck Muller, Patek Philippe, Master Square, Cartier, Hermes, ... Along with luxury watches, they also shop without hesitation with a series of bags, shoes, clothes from most expensive brands in the world.
4- Diamond
Diamond has long been synonymous with splendor and luxury by pure beauty. However, with the super-rich, now owning diamonds is increasingly considered as a expression of nobility and class. Normally, D-class white diamonds are priced from 14,000 to 15,000 USD/carat. A similar yellow diamond will cost around $6,500/carat while splendid and brilliant yellow diamonds typically sell for more than $40,000/carat.
In fact, in addition to being a sustainable luxury hobby, diamond jewelry is also considered a smart investment channel because the market price of diamonds is almost unchanged and is less influenced by the market than other types of luxury jewellery including gold. Therefore, diamond jewelry is being chosen as a way to show the status and class of the owner.
5- Luxury Yachts and Aircrafts
In a huge fortune of the elite, besides supercars, beautiful house collections in many places, it is impossible not mention to luxury yachts. Owning a yacht is a way for the super-rich to affirm their class with "1-0-2" facilities. It can be a super luxurious mobile house, a place to relax privately with relatives and friends or sometimes it is an inspiring mobile office in the sea.
6- Wines
When it comes to the luxurious hobbies of the rich, people will never forget not to mention about wine. Rich people, billionaires are often very knowledgeable about wine, especially premium wines like red wine or champagne.
Learn and know about wines as a basic requirement, a subject in the compulsory knowledge. When they step into the upper class, it is also a way to help them integrate with others, thereby having a better opportunity to communicate as well as to show their class.
7- Luxury furnitures
Not only owning super-luxury mansions with rare living space, the wealthy are investing a lot in luxury furnitures to show their true upper class.
If in the past, the super-rich tended to show off their wealth through gilded or wooden-clad mansions from the inside out,.. At present, the rich elite often choose to buy luxury furnitures from famous brands in the world. Owning branded furnitures in the house is an affirmation of the owner's class.
8- Golf, five-star hotels
As a sport classified as noble, the cost of each golfing time is also very expensive. For the rich, not only is it an addictive sport, playing golf also shows a personal status and makes networking with the elite.
Besides, the wealthy also spend their money on luxury parties at the rooftop of skyscrapers, 5-star hotels and restaurants with top chefs.
Earning a lot of money is also proportional to spending a lot of money. However, the rich’s spending not only serves their needs but also affirms their elite class, reputation and develops their relationships and business.
WHAT DO THE RICH SPEND THEIR MONEY ON?
