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Things rich people like to do with large amounts of money: - Housing. Multiple dwellings around the world. A penthouse in London, a villa on the southern coast
by hendzen 8y ago
Things rich people like to do with large amounts of money:
- Housing. Multiple dwellings around the world. A penthouse in London, a villa on the southern coast of France, etc.
- Travel. No more sitting in an Uber or public transit on your way to economy class travel. Helicopter from nearest helipad to small private plane equipped with chef and luxurious sleeping quarters.
- Collecting. Buying (expensive) things that you like. Art, cars, horses, stamps, etc.
- Entrepreneurship/Investing. Buying up cash-flow generating assets like companies or land w/ natural resources. Investing or starting companies in potentially risky areas like spaceflight or human life extension that most people wouldn't do if their main goal was to get rich to begin with.
- Philanthropy. Support your causes of choice. Also a good way to keep the non-extremely-high-earning spouse busy in the event that they don't want to keep working.
- Politics. With super PACs unlimited money can go in to the political system. Usually this is done in tasteful amounts of a few million here or there to retain some influence but some people make this their main goal (Mercer family, Tom Steyer, Kochs, etc.)
- Legacy. Structuring trusts and other legal structures (potentially offshore) to ensure that the wealth is multigenerational. It can be possible to guarantee that your offspring 1-4 generations out will live comfortable lives.