Sky's the limit for super-rich.
Position | Your Life - Brief article |
Americans may be fretting about rising energy prices, the worsening home mortgage crisis, and falling home values but, in the rarified air at 40,000 feet where the super-rich cruise aboard their private jets, it is a different story. A custom jewel-encrusted saddle for a pony, a $30,000 couture dress for a four-year-old, a $200,000 restored classic Camaro--these were among the holiday gift lists of the world's super-rich, those whose household net worth tops $10,000,000 (with many whose net worth is much higher).
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According to the annual Elite Traveler Magazine-Prince & Associates Spending Survey, the super-rich will increase their annual outlays by between 17-67% across more than a dozen luxury categories this year. Some of these items include jewelry, corporate gifts, events at hotels, and holiday travel expenditures--like yacht charters and private island and villa rentals. Recognizing that getting there is half the fun, more than 60% of the super-rich will travel by private jet and over one-third will give "jet cards" to friends, family, and colleagues. These uber-luxe...
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