5. Election to Political Office
The Ultra-Rich get ultra-bored. When making money, which these folks are obviously very good at, becomes ho-hum; the Ultra-Rich turns their sights to other pursuits. For some, government service in public office becomes a worthwhile endeavor. To their credit, they aren’t doing it for the money – we all know that government service doesn’t pay what these guys can make in a day. Whatever the personal motivation, some of the Ultra-Rich have been very successful in the political arena. The current mayor of New York City is a shining example (check the video above – 5 minutes in). Michael Bloomberg is listed as the 8th richest person in America, with a portfolio that is valued in the $18 billion range. By far, he is the richest person holding public office. Of course, we would be remiss if we didn’t mention the terminator and former governor of California, Mr. Arnold Schwarzenegger. The box-office superstar has a net worth somewhere in the area of $800 million. Of course, there have been other less successful forays into public service by the Ultra-Rich. Perhaps the most well-known are the presidential runs of self-made billionaire Ross Perot. While Mr. Perot did manage to secure 20% of the popular vote when he ran in 1992; he failed to earn a single of the all-important Electoral College votes (though he spent a good deal of his own money in the attempt). There is also the example of Ronald Lauder, heir to the Estee Lauder fortune (and a personally worth of about $3 billion). Mr. Lauder made a run for the mayor’s office in New York City in 1989, but lost the contest to Rudy Giuliani. What’s interesting however is where Mr. Lauder cut his teeth at government service – first at the Pentagon, then as the US ambassador to Austria. Not too shabby at all.
4. $100+ Million Homes
Perhaps the most visible and important symbol of wealth (Ultra or otherwise) is the home that one owns. You might not live there, but you better have a crib that’s worth some serious dough if you want to be in the Rich and Famous club. The Ultra-Rich, of course, take this concept to the next level. The Ultra-Rich have
homes that could house a small country in terms of size. Aaron Spelling’s home in Los Angeles, for example, is 56,000 sq feet! With over 120 rooms, it sits on 4.6 acres of prime LA real estate. And with a $150 million price tag, it can be yours if this fits your lifestyle. Bill Gates’ lakeside home in Medina Washington is said to be a technological wonder befitting something out of Star Trek (or the tech whiz persona of the Microsoft co-founder and billionaire). Named Xanadu, the Gates family home measures out at an impressive 66,000 sq ft and is valued at about $147 million. While the Gate’s home has all of the normal trappings of a mansion – lots of rooms, libraries, etc; the features that garner the most attention are tech based. One in particular requires all guests to wear a special pen that allows the home to tailor certain features of the home to the wearer’s preference – such as room temperatures, music, etc. On the extreme end of this future home is the house of Mukest Ambani, the 9th richest man in the world and head of Reliance Industries in Mumbai. His future home, which he has christened “Antilla”, will cost an estimated $2 billion! And this is not just another run of the mill super mansion. No sir! Mr. Ambani is building himself a tower. Planned to reach upwards of 550 ft, the home is said to be based on the well-known Mumbai Tower. Every floor is to feature a different design, with no two being the same. With over 400,000 ft of planned interior space, we can expect that every luxurious feature will be available upon its completion.
3. Super Yachts
The Ultra-Rich only deal in the grand and this definitely includes the yachts that spark their interest or even get their attention. Super yachts, by definition (and I looked this up), is any yacht that measures 80 feet or longer. Well, the Ultra-Rich find the number meager. At least Roman Abramovich (the Russian billionaire business tycoon) does: he happens to own the largest yacht (at least currently) in the world. His super yacht, the Eclipse, measures out at 531.5 feet. This, of course, to go along with his 282 ft yacht, the Ecstasea; and the 377 ft yacht, the Pelorus. It’s best, apparently, to have a set of yachts. The second largest yacht in the world, the Dubai – coming in at 526 ft – is owned by one of the richest men in the world (some say richest), Sheik Mohammed Bin Rashid al-Maktoum, the Ruler of Dubai. These super yachts are literally homes that float. Private gyms, luxurious bedrooms, helicopter pads, full staff, submarines, jet skis – you name it, these super yachts have it. And the price? Well, these babies fall in the $19 million plus range. But as they say, “you get what you pay for!”
2. Luxurious Submarines
Submarines. Really. Apparently yachts are no longer the sole nautical symbol of extreme wealth. It seems that the Ultra-Rich are now very interested in doing their best impressions of Captain Nemo and have taken to the depths of the world’s oceans and seas. But even Jacque Costeau would marvel at the technological wonder of these modern-day submersibles for play. And believe me, these are toys that only the rich can afford. Super venture capitalist Tom Perkins had to lay down a cool $1.5 million for his Super Falcon sub, just to give you a hint. Subs bring a whole new dimension to scuba diving – which is pretty much the extent of what these vehicles are used for (these vehicles are large enough for 1 to 4 people). For the most part, the folks who can afford these personal subs include them as an extra feature with their Super Yachts. Microsoft co-founder and multi-billionaire Paul Allen has two subs on his super yacht, the Octopus. Though one has to wonder when someone will buy an actual full size submarine and trick it out. Hmmm…
1. Personal Islands
The wealthy tend to value their privacy and nothing (really!) can be more private than your very own island. Picture a tropic getaway: beautiful weather, crystal clear water, sandy beaches… all nestled away on a small speck of land in the middle of the ocean. Surprisingly (at least to me), real estate of this nature is available for purchase – if you have that type of cash to afford it. Mega superstar Mel Gibson ponied up $15 million for his Mago Island (located in Fiji), while the Magic Man himself, Mr. David Copperfield (who pulls in a whopping $57 mil a year) owns not one, but a slew of small islands in the Bahamas. The prices for tropical properties surrounded by water vary – depending on location, development and access; purchasers will spend in the neighborhood of $3 to $25 million. But just think – unless some natives come along with the property (which would be kind of cool – that would make you a king or something wouldn’t it??) – having an island affords one with a level of privacy and peace that would be hard to capture anywhere else.
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