Has any extremely rich person ever told you that he has a lot of money or wealth with himself? Perhaps not! But still, you would know of many people who have tons and tons of money or are extremely wealthy. They may not make any express statements regarding their having a lot of money or wealth or their rolling in money, but still ‘the world’ knows that they are wealthy or rich. You may even say that just a few of the worldly possessions of these people are enough to conspicuously prove that they have loads of money or that they are indeed very rich! So you may want to ask How Rich Show Off Their Wealth?
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How Rich Show Off Their Wealth
Well, most of the super rich people do tend to show off their wealth. They indulge in some conspicuous behavior to attract attention towards themselves. Though there is no end to the ways in which the rich can show off their wealth, there are some common and prominent ways in which the rich often show off how much money or wealth they possess or that they do possess a lot of wealth. Let us briefly look at some of the key ways in which the rich show off their wealth and also the cost factors associated with each of these ways:
1. Private Planes
A very common and prominent way of showing off wealth is by acquiring a private plane or more. It could be an old light jet such as Cessna or Learjet which may seat 2 pilots and 4 passengers or a very large jet with much more seating capacity. One could even go in for an Airbus or a Boeing, which are both costlier planes.
How much does a private plane cost?
A three decade old light jet like Cessna or Learjet may cost in the range of $1m while a brand new custom fitted Boeing or Airbus may cost well over $100 million. Bigger planes don’t only cost more in terms of the initial price and depreciation but are also more expensive to maintain.
What is the cost of operating a private plane?
Cost of operating a private plane would largely depend upon the actual usage and will vary with the size and age of the private plane. It may, therefore, not be possible to put an exact number here. But apart from the high variable expenses on fuel and other items, the owners will have to consider crew salaries, insurance, hangar costs and expenses on routine check-up and maintenance as well.
Talking in broad terms, while the estimated variable cost could be upwards of $1.5m per year, the fixed costs may be an additional $0.5 million or more per year for a small private plane. For bigger private planes, the fixed and variable costs and consequently the total cost of operating the plane would be significantly higher.
While talking about the estimated hourly cost, it may be interesting to note that the less you fly your aircraft, the higher will the hourly cost be. These operating costs will also depend upon the country where you base your aircraft, its flying efficiency, your skills while negotiating with the aircraft management company and many other factors.
Owning a yacht is proof enough of your being extremely rich. The cost of acquiring a yacht would depend upon a number of factors including its length, the year in which it was built, the builder of the yacht, the number of guests that it can accommodate and the number of cabins it has. The cost could, accordingly, be anywhere upwards of $1.1 billion.
Many people with a whole lot of wealth prefer to buy a superyacht which may cost tens and sometimes, even hundreds of millions of dollars with the annual upkeep costs running into seven figures. These include routine maintenance expenses, gas prices, crew salaries and taxes.
A 100-meter long super yacht having a top speed of 25 knots would cost close to $275 million and will need a crew of around 50 members. Larger superyachts cost much more. Annual dockage fees, insurance and crew salaries run into millions of dollars. It is estimated that on an average, the owner may have to spend around 10% of the initial cost of the yacht on its upkeep every year.
Owning and maintaining a yacht or a super yacht is a hobby or style that only the super rich can afford to indulge in.
3. Luxury Cars
Owning luxury cars such as Mercedes S-Class, Range Rover, Bentley Mulsanne Speed, Rolls-Royce Ghost, Jaguar XJ, BMW 7 Series or any other luxury car for that matter is a definite sign that you do have a lot of money and wealth. These luxury cars offer exclusive features with a touch of class.
Though some people may think that you are showing off your wealth by using these luxury cars, the fact remains that these luxury cars are truly pleasing to your senses. You do get a great feeling when you use these luxury cars.
4. Golf Resort
Owning a golf resort is another sure-shot indication that you do have lots of money. An 18-hole golf course could easily cost you between $2 to $7 million, depending upon the actual location and quality. This would exclude your investment in land, maintenance equipment, clubhouse and cart fleet.
The rich also show off their wealth through buying diamonds, expensive engagement rings and sports cars in addition to yachts, golf resorts, luxury cars and private planes as detailed above. They even show off their money by going on luxury holidays and by travelling to exotic locations. Some of the other ways in which the rich show off their money include sending their children to expensive schools and colleges abroad, arranging lavish weddings for their kin, organizing charity events, acquiring exclusive art collections and making hefty donations for social causes.
It is not possible to talk or write about Rich without mentioning about their love for diamonds. Rich and their diamonds are inseparable. Men often gift their ladies expensive diamonds. The occasion or purpose could be anything from birthday gift, engagement, marriage anniversary, they love to show off their diamond jewellery on social media as well.
But do you know that besides genuine diamonds, rich women also have a good collection of fake diamonds or artificial diamonds. You may wonder that despite loads of money why they still go in for fakes. Well the possible reasons for using fake diamonds could be saving on insurance costs, less fuss about care in keeping them, saving costs of guards or bodyguards.
To Sum Up
All the wealthy people in the world may not possess many luxury cars, private planes, yachts, sports cars, private islands or golf resorts of their own. But even some of these would be enough to prove that they are indeed rich.
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