Luxury Lifestyle Of Billionaires
Introduction To Luxury Lifestyle Of Billionaires
The billionaires form a very exclusive club as only 2235 out of the 7 billion people of the world belong to this category.
Spending a huge amount to maintain a luxurious lifestyle is no surprise. Though most billionaires prefer being silent about their expenditure, we can sometimes get a glance of their thrifty spending.
Though The Cost Of The Mansion Varies, It Can Exceed $15000 Daily
A billionaire’s house serves to be his most significant source of expense, particularly when he invests in a large home. A billionaire’s cost of daily housing depends on the price of his house. For instance, you will be paying a fortune every day if you invest in a mansion like Beverly Hills belonging to the billionaire, Jeff Greene. It is pertinent to keep earning in billions to be able to afford a house like this.
Daily Costs Of Luxurious Cars
If you want to maintain the luxurious lifestyle of billionaires, you must travel in style. This involves selecting the right car to retain your brand image. You are likely to invest in a luxury car like Bugatti or Ferrari as a billionaire.
Besides the hefty price tag that is paid upfront, maintaining a luxury car like Bugatti Veyron costs a fortune. In 2014, it costed $3.2 million to keep this car in California. You can expect to pay around $150,000 a year to retain this car if you add other expenses like taxes, insurance, etc.
Extravagant Costs Of Luxury Yachts
Owning a Bugatti sounds like a compromise when compared to owning a yacht. The upfront cost incurred while building the boat itself is equivalent to a fortune. For instance, the 450-foot superyacht belonging to Leonardo Di Caprio cost around $200 million to be made.
Apart from the making charges, you are also required to pay costs for its effective working. According to the Daily Mail, a billionaire pays around $400,000 per year for the fuel itself. Daily expenditure in maintaining a superyacht round up to $2,054.
Entertainment Costs- Luxury Lifestyle Of Billionaires
As a billionaire, you need to make the right connections. Networking is a big part of your job. It also forms a segment of building your net worth as a billionaire. Thus, the occasional hosting of lavish soirees is a standard routine. A billionaire needs to do this to improve his connections and also to make useful contacts.
It is no rocket science that hosting such a party is a huge source of expenditure. According to The New York Times, on his 60th birthday party in Manhattan, billionaire Stephen A. Schwarzman was reported to have spent $5million! However, this dwindled when compared to his expenditure on his 70th birthday party, where he was said to have spent $20 million.
Even a modest party for a billionaire requires a budget of $10 million. Considering that a billionaire will host at least three soirees in a year, his expenditure shoots up to $30 million annually.
What Is The Daily Living Cost For A Billionaire?
For a billionaire, even an annual salary won’t suffice to cover the basic expenses. Even if you assume the lowest estimates, you will still incur a six-figure expenditure on a daily basis.
Thus, the cost of maintenance for leading the luxury lifestyle of billionaires is so high that only a fraction of the entire population is capable of affording it. This is all about the luxury lifestyle of billionaires.