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Someone Asked “What Do Insanely Rich People Buy That Poor People Have No Idea About?” And 30 Folks Online Delivered
Once The Beatles sang about the fact that "Money can't buy me love". But that was a long time ago, when the musicians were still very young, romantic, and probably not rich enough. Now let's just imagine a very rich person. No, not like that - an insanely rich person, so rich that ordinary people simply cannot imagine the scale of such wealth.
And since we are not capable of imagining it, then, probably, there is something that is available exclusively to those crazy rich people, but which we do not even know about. No, of course we could think of things like yachts, private jets, sports franchises, super-expensive houses... But perhaps there is something else that only people with incredible money know about, or those who are rather familiar with them?
Recently, a question appeared in the Askreddit community: "What do insanely rich people buy that poor people have no idea about?", which collected about 1.5K upvotes and almost 1.6K different comments, many of which are simply thought-provoking.
Bored Panda made a selection of the most popular, interesting and offbeat comments from this thread for you, so feel free to scroll to the very end and, of course, leave your opinion in the comments as well. Or maybe you are also insanely rich - then we are waiting so much for your own answer to this original question.
More info: Reddit
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#1
Time.
For example, I own a boat, I work my a*s off on it repairing, cleaning, storage, etc. If I were rich I would just pay to have all of that taken care of so that I just make a call and the boat was ready to go anytime I wanted it.
The rich spend their money on toys, but they also spend money buying the time to use those toys and to live their lives.
Eat Dirt Crow 2 years ago
For those who say money doesn't buy you happiness, this. Money buys you time. Having more time makes you happier, having more money affords you time.
RELATED:
#2
My in-laws were well off.
Way before the internet, I had an unexpected emergency when my brother was in a bad car accident in another state. I had been out shopping with my sister-in-law when my mother-in-law called the store and told us to come home right away, but she didn't say why.
It took me 20 minutes to make what was normally a 40 minute drive. I'm pretty sure I scared my sister-in-law to death with my driving.
When we got home, my in-laws gave me the news. They also had airline tickets waiting for me so I could be on a plane right away. How? They had a travel agent they'd used for years. In the half hour between the time they got the call from my family to the time I walked through their front door, they had called the travel agent who had booked the ticket and had it hand-delivered to my in-laws home.
So what do rich people buy that poor people have no idea about? Incredible convenience, that's what.
#3
Isolation from poor people. Rich people spend a lot of money to make sure that poor people can't get anywhere near them.
#4
My wife’s, cousin’s husband is a chef for a famous Bollywood star. The catch- he is only there to make chai. Apparently his chai tastes exactly the same as his employer’s beloved (now deceased) grandmother used to make. The man makes more than I do per year making chai 2-3 times/day.
#5
Access.
Need to call a governor? He's on speed dial and will phone the senators too. Need to talk to the CEO of Coca Cola... he's waiting for you and immediately assigns someone to fix your problem. Do you want to yatch around the horn of Africa? The closest naval fleet will tell you the safest route and provide "support" so pirates don't mess with you.
I own a company and by nature interact with a lot of billionaires and CEO's. I'm by no means rich but hang in the circle enough that I've e-mailed CEO's of fortune 500's and they've hooked me up with huge "free" things as a small perk or thank you. I've been PAID to fly places just to have a 1 hour meeting and then get a free VIP week long vacation with the mayor or consulate showing me around.
It's trippy and I've never really felt at home, but I've been eternally grateful for these travel opportunities.
#6
OilSpillsAreGood wrote:
You don't really "buy" this, but, family offices. You need to have an incredibly high NW to even think about these services.
climb-it-ographer added:
Yeah a proper dedicated FO is really in the $500+ million net-worth territory.
They're really like an 'easy mode' for so many of life's annoyances. Having trusted lawyers, financial advisors, personal assistants, and other staff on-hand for everything just takes so much of the hassle out of day-to-day life.
Feel like buying a new Range Rover? Well, you sure as hell don't need to mess around with that process yourself-- just ask your FO to handle it and have it dropped off at the house. Want to buy some property you saw while on vacation? Just have them work out the details and give you the final paperwork to sign. Getting sued because of some shit you said on Twitter? Your lawyers are working around the clock with no other clients just for you. And on and on-- a team of dedicated assistants is a hell of a luxury.
DennyS (denzoren) 2 years ago
Oh yeah, I've seen some of this. The only part of the process they're involved in is the signing and even that can be authorized to someone else. Things just show up.
#7
Support ships for your mega-yacht.
The biggest yachts don't travel alone, they generally have small cargo ships that do everything from house additional staff, to transport your cars so you always have them when you make port, to holding all of your toys (helicopters, submarines, day-boats, etc.). They'll often travel a day or two ahead of the yacht to a destination so that your staff can unload your things (cars, clothing, etc.) at the next villa you're summering in.
M O'Connell 2 years ago
I'm convinced this is just so they could justify calling themselves "Commodore"
#8
Kidnap insurance
Mad Dragon 2 years ago (edited)
Most companies have a clause that voids the entire policy if you tell anyone you have kidnap & ransom insurance.
#9
Happiness.
People say you can't buy happiness, but that's not true. Not only do rich people have more time since people with less money have to work a lot more, they can also buy stuff that can make then happy for years that is someone from a poor family tired to buy it they definitely ruin the family's income, making them even more poor.
I'm not saying buying stuff like multiple phones or expensive clothing i mean stuff like pets, plane tickets etc,, poor people have to really work for those. Me and my bf live really far away, I live in Czech Republic and have lives in Australia. If someone bought us plane tickets to we can be with eachother, I'd be so unbelievably happy. Unfortunately they are really expensive and neither of us have that kind of money atm, tho we are hoping to get it soon enough. Neither of us is that poor, it's just a lot of money to spend on something.
#10
Honestly insanely rich people often get so much for free because they're rich. Money begets money as well as access. It's crazy how much free stuff and access you get just because you're rich.
Iifa A. 2 years ago
Oh yeah my bank doesn't charge quarterly fees if you account never falls below 5000euro, but if you also have saving a account and way more than 5000 euros a month coming in you also get discounts and perks for being their loyal customer. Me, my account got charged 35euros, which made my account go to -17.05 and then I got letter informing that every day they can charge me.up to 10times 5.15euro for having debt. When I returned from holidays, I tried calling the bank and they had given my account to creditors. I have no income, I have been out sick for two years, and I got punished. Yet a guy who didn't pay mortgage for 10years, got debt forgiven and he still got to keep the house worth 5million. A developer didn't produce housing and government forgave the 7.7million euro debt like are you kidding me, I miss one payment and there's sharks all over me. They get millions to build housing and have millions to pay mortgage but they don't and somehow they are still worth more than me
#11
An acquaintance of mine is one of six pilots "on retainer" for a wealthy family
DennyS (denzoren) 2 years ago
Oh wow, personal pilots. Not to mention, one of six. I guess that's for those impromptu flights to Greece etc. I can't even afford a flight.
#12
On staff mechanics. People see the Floyd Mayweathers and Tom Cruises of the world buying tons of cars and motorcycles, but when you have a fleet like that, you basically need on staff mechanics who at the very least keep your cars clean, but also handle all maintenance.
DennyS (denzoren) 2 years ago
I've never understood the fleet of cars thing. Probably because I'm poor but at my richest I can only see myself having maybe....three. A pick-up (for off road in my estate because I'll have a huge farm with animals), a luxury sedan (for comfort travelling) and maybe like a small hot hatchback (for errands and fun). Anyways, my bank account is calling to tell me to not even think about it too much.
#13
Funny, I know this guy who is the son of a man who sold his company to a large tech company for hundreds of millions.
The son went to art school. Works for an associate of his father Lives in Manhattan. Dad pays for everything.
He started a movie company recently. Dad $. Wrote a screenplay. Is filming a movie today. He's the producer and director.
He invited me to drive a few hours to be an extra in a few scenes.
I had to refuse because I need to work to pay for some unexpected bills.
That's what money can do. Either give you options or make opportunities out of reach.
Jennik 2 years ago
I get fed up with stories of kids from very wealthy families who've "created their own success". Maybe a few of them have, but generally it was the family money/contacts/name that gave them a massive head start on that project or start-up company, and supported them through the initial years when so many businesses don't survive.
#14
Weird but important different types of insurance on their "money-makers"
Like Taylor Swift has her legs insured for like $50 million. Her legs are part of her brand, her look. If some terrible accident happened that removed her legs or damaged them, she has insurance to cover that loss of income.
#15
Private doctor's. My nephew married into a very high net worth family, They employ a general practitioner/hospitalist with privileges at several top level hospitals. He caters, in house, to any and all medical needs they may have.
DennyS (denzoren) 2 years ago
I've seen this locally too. Private hospitals are always more convenient, comfortable and more care is given to patients. Very expensive and it's the same Doctors from the public hospitals...just here they are paid more to care for you.
#16
Its not just buying stuff but also keeping stuff they once bought. Many rich people just keep all the homes they ever owned as investment instead of selling when they move. Thats also a prime example of housing turning into commercial realestate in many cases.
propgamer XL 2 years ago
I keep stuff I once bought. It costs me 80 euro to throw my old couch away, that has holes in it, so I just keep it.
#17
I work for the super-rich/elite of California. Tycoons and politicians and old money types. They don't wear the "poor" name brands like Gucci or Prada. They buy these random brands you've never heard of where a white t-shirt is 3k. Money talks, wealth whispers.
EDIT: for those asking, some examples off top of my head would be Khatie, Miu Miu, Alaïa, Loro Piana, moncler, etc. Those aren’t the most expensive, just the most common. Someone linked a Quora below with other good examples! The clothes are all pretty normal and unassuming, which is the point. It’s meant to be an iykyk kinda thing
Mr.Kris 2 years ago
This is kind-of not the case. Yes, these brands aren't usually as accessible or may not cost the same as 'luxury brands' sold to the masses but wealthy people aren't buying expensive clothes so they can detect each other while in groups (Ah, your truly wealthy too? Wink, Wink). These brands (Im thinking Kiton, Loro Piana, etc.,) are truly exceptionally crafted using the best materials by skilled artisans. The rich buy expense, the wealthy buy quality. Also, Miu Miu is Prada.
#18
There are membership-based vacation clubs. Similar to high-end country clubs, but for travel.
You may pay a one-time initiation fee that can be upwards of $100k - $250k to get 5-10 years of *access* to purchase incredibly exclusive vacation/resort/rental property experiences.
I work in the travel industry and I know of multiple companies like this.
DennyS (denzoren) 2 years ago
Sure but someone's kid/adult is still gonna pee in that pool. Lol
#19
In my ex-socialist country, rich people buy (off) officers, teachers, doctors and judges.
#20
Cloning pets, one of our investors spent ~$100K cloning his dog.
#21
Opportunity.
You can throw a hundred business ideas at the wall and only one sticks, if you are rich enough, when you finally do something right, everyone calls you a genius, like you didn’t buy your way through 99 failures first.
Most people only get one shot.
Also, corporations will literally bend over backwards to employ rich peoples useless kids. The bank I used to work at once had a guy like that and after six months has to let him go, but “couldn’t wait to work with him in the future” because his family was loaded,
They couldn’t be honest and tell him what a useless f**k he was, they wanted him to come back when he finished university instead.
Timmy Pillinger 2 years ago
This is the rule of gambling : the beneficiary of loaded dice should play more because the more they play the more they recoup.
#22
Obscure paintings, like ones you've never heard of. There have been cases of art changing hands without ever being seen but the buyer or leaving the vault where it was stored. There are a lot of investment vehicles that are largely unused for their intended purposes and are purchased just because their perceived value is expected to increase (e.g. a lot of luxury apartments in major cities). People rightfully trash talk NFT's but those are basically just a parody of what a lot of rich people are already buying.
Mangelo Il Fumatori 2 years ago (edited)
I'm convinced the fine art trade is just an avenue for money laundering.
#23
I work in the film industry and one time I booked a trip for someone to fly from London to California for a weekend and it cost more than my yearly salary.
Edit: This was 2010, and it was $35,000 for first class airfare, private car, & hotel, because they realized Friday morning that based on his contract that he needed to be present while the film was being finished that weekend, and his contract specified he accommodations needed to be first class/5-star hotel, etc.
Edit2: I accidently had an extra "0" it was $35k, which is $10k more than what the studio was paying executive assistants at the time...
#24
I don’t thing many people know that their are luxury hospital floors for rich people:
#26
Books by the foot to fill decorative libraries
#27
That people don’t actually know about? There are a few towns and islands that are only for rich people. It’s just a place you’d never know to go or have access too unless you too are rich. But also things like specific buildings for high frequency trading. Some trading firms move to where they have faster access to the internet and as such can complete trades faster peeling off those tenths of a cent in a transaction that in term can make millions. I think the exchanges actually figured out a way to stop it but for a period of time it was something only rich people could buy
Frederick Reinders 2 years ago
Nope, it hasn't been stopped. Electronic trading allows HFT (High Frequency Trading) If your analysis says you can earn $0.001 per share by buying and holding for 2 seconds you jump on it. Speed is everything as you need to buy before someone else does. Milliseconds count. Exchanges have pulled stunts by doing things like hooking up to outside traders with a massive loop of fiber between the outside and inside connections. But the delay this inserts is shared by everyone. HFT operators simply analyze the problem and engineer a solution that minimizes trading time.
#28
In California, a rich person can spend a few million dollars and get a measure placed on the state ballot. If it passes, it becomes law.
#29
There a streaming service that's pretty much netflix for rich people, allowing you to stream current cinematic movies for about 3000 bucks a pop.
begging for ham 2 years ago
you mean they pay 3k, the same as my monthly salaries, just for a movie?
#30
They don’t invest on their own, they hire company to do research and advise on best steps to make their money grow.
Jennik 2 years ago
And hire clever accountants to ensure they pay absolutely minimal tax. Tax evasion is illegal but tax avoidance, while unethical as far as I'm concerned, is entirely legal - but a privilege of those who can afford the accountants. Often the same people doing this will make large donations to charities and institutions and are seen as generous philanthropists, but if they paid proper taxes then they'd actually be contributing more to society. I'm not saying this is the case with all the super-wealthy - I know of a few who pay full taxes AND donate generously, but I also know of a lot who avoid as much tax as possible and then have their names up in lights.
What do you think ?
JustinTime 2 years ago
I dated a nanny for the SC Johnson Wax family. First time I went to their home i saw a large concrete slab covered in graffiti and broken On the sides. My mind froze when I realized it was from the Berlin Wall. Obviously wealth gets you nice homes, nice cars, private jets, etc. but I wouldn’t even know where to look to get a Slab of the BW.
Shyla Clay 2 years ago
He's on his zoomies right now. I'll pass on your message once he's regained his sanity.
JustinTime 2 years ago
I dated a nanny for the SC Johnson Wax family. First time I went to their home i saw a large concrete slab covered in graffiti and broken On the sides. My mind froze when I realized it was from the Berlin Wall. Obviously wealth gets you nice homes, nice cars, private jets, etc. but I wouldn’t even know where to look to get a Slab of the BW.
Shyla Clay 2 years ago
He's on his zoomies right now. I'll pass on your message once he's regained his sanity.
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