What do rich people buy

Katie Warren. The world's ultra-wealthy spend money on things that most people can't even fathom buying. From private islands to dinosaur fossils and tickets to outer space , here are 10 things you'd only buy if you had more money than you'd ever need. Tickets to outer space. Celebrities Ashton Kutcher and Katy Perry are among those who have reportedly bought tickets for a space tour aboard Richard Branson's Virgin Galactic spacecraft.

Branson said in May that Virgin Galactic was two or three test flights away from taking passengers to space. When money is no object, what's a few hundred thousand dollars spent on the remains of a long-dead creature? The skull turned out to be stolen, so Cage later had to give it to US authorities. Gold toilets and bathrooms. One way to show that you're ultra-wealthy is to surround yourself with as much gold as possible.

Built in , the room still holds the Guinness World Record for most expensive bathroom. Private islands. The ultra-wealthy love buying islands. Luxurious superyachts. Some of the world's wealthiest people are owners of superyachts. Russian billionaire Roman Abramovich bought his yacht, Eclipse, in The Eclipse has two helipads, a missile defense system, two swimming pools, a cinema, hair salon, and restaurant. In April , Geffen hosted the Obama family on his yacht. Private planes. Private planes are another luxury on which the super-wealthy love to splurge.

Movie props and memorabilia. If you had millions or billions of dollars to spare, would you buy props and other paraphernalia from your favorite films? Many do just that. In the movie, the car turns into a submarine. What I'm going to do is upgrade it with a Tesla electric powertrain and try to make it transform for real," Musk said. Massive car collections. Many of the world's wealthiest people like to collect cars.

Bill Gates is an avid luxury car collector, with his first big splurge after founding Microsoft being a Porsche supercar. He has various garages that fit 23 cars. An entire town. If an island isn't your thing, you can always buy a town, like Kim Basinger did in She wanted to turn the town's farmland into a tourist attraction and film studio, but it was later auctioned off as part of her bankruptcy. Second passports. They had what I would learn was 'food service. At , the actual food service people would arrive with fresh food for the day and prep anything you wanted.

If you wanted something special for dinner, say lobster thermidor, you just told them by 3 p. Did you like the cheeseburger and want a few for later? Every day the fridge would be stocked and cleaned out. It was fucking amazing. They have a beautiful estate up in New England that I have visited several times. The main house is located on a acre plot with multiple out-buildings and a separate guest house. When I first started visiting, the family next door was friends with them and would come over and hang out at the lake with us.

Their house was also super nice, and they were wealthy but not quite as wealthy as my friends' family. A few years ago the family next door decided to sell their house. My friend's father-in-law decided to purchase it, as they didn't want some other family they didn't know moving in that was the reason I was told, there may have been other reasons as well.

Apparently for some people, owning a building with their name on top of it is a sign of how rich they are. There was a client who owned a floor in an apartment building on Central Park West. Even if he decides to change cars later, guess what? They invest first and make sure that whatever they buy will be paid for with the investments they make. So, if we had to define a rich person, the definition would actually be very easy: A rich person is an entrepreneur who invests.

For every dollar they spend, they calculate with some kind of return. If they buy liabilities, they do so very aware. They are very conscious of their decisions. Our definition is actually quite different. This income generation part is what makes the difference. If you are an employee, you are selling your time. You get paid based on the number of hours you work. So, you exchange your time for money. Most people think in weekly or monthly payments.

Other things are replaceable. Customers, employees, even money is replaceable. Nobody can manufacture more time. Even if you were to lose everything you have now, you can always get it back. But the minute you waste? Can you get it back?

If you use your time wisely, you can use it to make a lot of money. So, rich people buy time, talents, people that can help them and people that can save their time. The rich are very aware of the value of time and it is the one thing they try to protect and invest in. Dan Lok once visited a pretty successful CEO. His company was probably making million dollars a year. The minute he got there, he could see the CEO mowing lawns in front of his office!

Better ways to invest his time? Find a better way to utilize his talents? It made no sense. So think about it — do you also do this kind of stuff instead of spending time investing in and growing your talents and your assets? The next time you spend two hours cleaning your home or mowing your lawn, do a very basic calculation. First, find out how much your hour is currently worth.

Is that really worth it? It will cost you much more because you could have been doing something else with that time. You can still enjoy watching movies and do so sometimes. But you have to be aware of how much it actually costs you to invest this time. Before you watch anything, it might be good to ask yourself if the experience is worth that kind of money.

But make sure to do so very consciously. If you think about it that way, you will be more present in the moment. What kind of amazing results could you produce, if you invested your time differently? Or, better yet, ask yourself — how can I maximize the use of my time? To do this, you have to prioritize and understand how you value your time. However, making skydiving a regular hobby is a big investment.

Scuba diving is another expensive hobby that only the rich can afford on a regular basis. Collection high-end art is among the most expensive hobbies. For wealthy people with millions to blow, a game of poker is all about the stakes.

Most people can afford a short vacation or getaway. But not everyone can afford to travel and explore the world in style. Winemaking is another expensive hobby of the rich, according to Jim Wang, founder of personal finance website Wallet Hacks. My friend bought land, hired a staff and it was a couple of years until he was actually able to bottle anything. There are many hobbyists who make wine on a more affordable scale. Members of the super-rich are known to collect rare and vintage cars.

Jay Leno, for instance, is known for his expensive collection, which he drives around the streets of Los Angeles. The price of a vintage collectible varies. Instead of flying a plane, you might consider just renting a private jet every now and then. Keep in mind, however, that the most luxurious jets in the world cost a fortune.

People with a competitive side and a need for speed might enjoy racing cigarette boats. Cigarette boats currently on sale at Yachts.