We were talking in the office the other day about all of these dot com guys that got hundreds of millions of dollars for some startup firm or even billions, as in the case of the google boys. But, when you try to quantify it down to a number, how rich is really rich? How much cash up front and how many dollars per year would you require to live like a total monster of a rich person? Good question. Our local internet can always give us a nice financial picture of what it takes to live REALLY good. So, we dug in with no budget and just hunted for the coolest things you could buy and did some math on what it cost to live like a king day in and day out... ready?
Hilton and Hyland Real Estate. This 15 bedroom compound in the Holmby Hills section of Los Angeles puts you in the right neighborhood and should give you more than enough room for visiting guests. Just click on the link above and take the virtual tour to really get a taste of what $29,500,000 buys these days.
For just under $2,000,000 having a Bell executive Helicopter standing by to transport friends from the house to the jet or the island to the boat could come in handy. Just store it on the yacht and be ready for anything.
Ok, you've spent about $333 million to get your lifestyle equipped. Add on another $2 million for other cars, limos, toys and etc., $20 million for various taxes, duties and titling fees and then figure that you'll need to come up with about $3.5 million per year just to keep it all up, maintained, operating and usable. Throw in a spare $1,040,000 per year for YOU to have some spending money ($2850 a day for 365 days should cover your basic soda and chips needs) and you have a first year expense of $359,540,000 and an annual expense of about $4,540,000.
Sounds like a ton of cash. Just imagine that if you were one of the founders of Google, your 5% annual interest off of tax free municipal bonds would only require a funding of $91 million to keep your lifestyle running for a lifetime. Plus, with an estimated worth of Larry Page, one of googles founders is currently $18.6 billion. That's enough cash to buy everything we just bought about 56 times!!!
Keep thinking big kids... others have done it.
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Craig and Melissa Hull