What Do Rich People Spend Their Money On? Find Out Here...
Have you ever sat down and wondered how and what the world richest people spend their money on? In as much as this question may sound or seem vague, it is very interesting and of course finding out how the world's 1% spend their hard earned money may be a key to your financial doors.
Before I started witnessing positive changes in my personal finance, I used to imagine a lot of things about successful people; from how they made so much money to what they ate and how they spent their money, and even at times, I wondered if they defecated like ordinary people lol, that's how weird and worried I was to know how the rich lived their life some years back when I was still struggling financially.
In this short but detailed post, I will be answering the question: what do rich people spend their money on? So sit back and enjoy the reading...
How a rich person spend his or her money depends on the personality of the rich person, and of course their gender.
So I will try to answer your question keeping the aforementioned factors into consideration.
In answering this question, I will divide rich people into two; rich men and rich women. So let’s start with rich men.
What do rich men spend their money on?
I will like to point out again that how a rich man spends his money depends hugely on his personality and how he made his money. So in order to answer this question better, I will categorize rich men into three categories - rich entertainers, businessmen/entrepreneurs, and politicians.
What do rich showbiz and entertainment businessmen spend their money on?
Rich men that made their money through music entertainment, gambling, movie, sports, and anything entertainment tend to spend their money mostly on:
- drugs (not all though but majority)
What do rich businessmen, entrepreneurs & industrialists spend their money on?
On the contrary, rich men who made their money through trading, manufacturing, and entrepreneurship mostly spend their money on:
- cars (not all of these category of rich men love cars though)
- real estate
- politics; because they understand that in order for them to remain at the top of their business sector, they need to be in good terms with politicians, so they spend a lot buying good relationship with politicians. This can come in election campaign donations, etc
- women; though not all rich businessmen womanize, but they still spend on women, especially when on business trips outside their residence or across the border.
- wrist watches; these class of rich men love luxury, classic wrist watches, so they tend to spend more of their money acquiring various luxury wrist watches from top brands.
What do rich men (politicians) spend their money on?
- crime; assassination, media blackmailing, bribery, election rigging; this is self explained
- security; they spend so much on securing their lives; from buying the costliest armored vehicles, to securing their homes, family members, offices, and in fact everything about their life.
- women; rich politicians are the highest bidders or let me say, the highest ATM when it comes to paying for women. They spend millions of $$$ on women, and are very good at keeping a multitude of mistresses all around the world.
Now, let’s look at how rich women spend their own money.
How do rich women spend their money?
In this category, I am going to divide them into two sub-categories; rich single women and rich married women, because how rich single women spend their money is a bit different from how rich married women spend their money.
How do rich single women spend their money?
- Cosmetics; they are usually worried about their physical appearance, so they end up making the cosmetics industry guys richer; be it body enhancement through plastic surgery, skin toning or tanning, etc
- Fashion; rich single ladies are fashion freaks. But then, all women, irrespective of their financial status spend most part of their money trying to look good and possibly look hotter than other women, and in so doing, they end up spending most of their money on fashion
- Expensive Vacations; women love adventure more than men, so when they are rich, they tend to spend more of their money touring places, though most times they end up not footing the bill as they most often meet a rich guy that ends up footing their vacation bills
- sex toys; while trying to prove a point to men, some rich single women end up living a celibate life, and in the process, they end up becoming sex toy addicts patronizing all forms of sex toys in the market
How do rich married women spend their money?
- Sugar boys & gigolos; majority of rich married women who made their money are usually unfaithful, so they end up patronizing sugar boys or gigolos, who they spend a lot of money trying to please and keep.
- Jewelries; rich married women love jewelries a lot, because to them, it is an asset.
- Hair; most rich married women worry about their hair, especially when they start to approach 40 something and above
- Children; rich married women don’t joke with their kids, so they spend a lot on their kids, and in the process, turn the kids to lazy rich kids who can hardly stand on their own
- Spiritual leaders; most religiously inclined rich married women spend most of their money on spiritual leaders; either pastors, Imams, or even witch doctors
- Their parents; they spend a lot on their parents
- Fashion; all women, irrespective of their financial status spend most part of their money trying to look good and possibly look hotter than other women, and in so doing, they end up spending most of their money on fashion.
NOTE: this is my personal opinion based on personal research and observation of events for some years, so it can never be 100% correct, but this is not far from the truth, thank you.
I remain your friend and financial mentor, Frank from Frankwealth Team