What is wealth?
Discussion
Does anyone on here know anyone that is rich? I don't mean runs a reasonably successful company and owns a £million house and a Ferrari or two, I mean really rich. I have the pleasure of working for some very wealthy people (is pleasure the right word?) and they are some of the strangest people I've ever come across, usually never able to make a decision for themselves, and generally needing people to hold their hand in everything they do.
Now these people are obviously very focused on what they do and have worked very hard but when do you get to the stage that you need a personal dresser to pack your clothes for you in numbered ziplock bags so you know which shorts to wear with which t-shirt? We had to book a restaurant for our guest and his family/friends (33 people), but because he didn't know when he wanted to go had to book it for 3 different nights. This particular restaurant charges €170 per head for a no-show or cancellation, so for the 33 people to not turn up for the two other nights it will cost over €10,000 to not have dinner!! not to mention the cost of the actual dinner (assuming they go there at all). I dont even know where I'm going with this but the more time I spend around these people the more my perspective of money and wealth get's distorted.
I mean, what does £50,000 mean to you? A beach house in Thailand? A years wages? A night out in Porto Cervo? A cashmere sweater?
My brain hurts.
Now these people are obviously very focused on what they do and have worked very hard but when do you get to the stage that you need a personal dresser to pack your clothes for you in numbered ziplock bags so you know which shorts to wear with which t-shirt? We had to book a restaurant for our guest and his family/friends (33 people), but because he didn't know when he wanted to go had to book it for 3 different nights. This particular restaurant charges €170 per head for a no-show or cancellation, so for the 33 people to not turn up for the two other nights it will cost over €10,000 to not have dinner!! not to mention the cost of the actual dinner (assuming they go there at all). I dont even know where I'm going with this but the more time I spend around these people the more my perspective of money and wealth get's distorted.
I mean, what does £50,000 mean to you? A beach house in Thailand? A years wages? A night out in Porto Cervo? A cashmere sweater?
My brain hurts.
50,000 to me means clearing all of my debts and paying a nice bit off my mortgage. It sickens me a bit to think of someone paying 10,000 to not have dinner with 33 people but I guess its his money.
For me it would take a long time to save that much, to him its probably like spending a tenner, all about perspective I guess.
For me it would take a long time to save that much, to him its probably like spending a tenner, all about perspective I guess.
LD1Racing said:
Does anyone on here know anyone that is rich? I don't mean runs a reasonably successful company and owns a £million house and a Ferrari or two, I mean really rich. I have the pleasure of working for some very wealthy people (is pleasure the right word?) and they are some of the strangest people I've ever come across, usually never able to make a decision for themselves, and generally needing people to hold their hand in everything they do.
Now these people are obviously very focused on what they do and have worked very hard but when do you get to the stage that you need a personal dresser to pack your clothes for you in numbered ziplock bags so you know which shorts to wear with which t-shirt? We had to book a restaurant for our guest and his family/friends (33 people), but because he didn't know when he wanted to go had to book it for 3 different nights. This particular restaurant charges €170 per head for a no-show or cancellation, so for the 33 people to not turn up for the two other nights it will cost over €10,000 to not have dinner!! not to mention the cost of the actual dinner (assuming they go there at all). I dont even know where I'm going with this but the more time I spend around these people the more my perspective of money and wealth get's distorted.
I mean, what does £50,000 mean to you? A beach house in Thailand? A years wages? A night out in Porto Cervo? A cashmere sweater?
My brain hurts.
It gets strange when you start dealing with Company money. "Yeah. Revenues are down from half a mil to 400K this quarter in that sector ."Now these people are obviously very focused on what they do and have worked very hard but when do you get to the stage that you need a personal dresser to pack your clothes for you in numbered ziplock bags so you know which shorts to wear with which t-shirt? We had to book a restaurant for our guest and his family/friends (33 people), but because he didn't know when he wanted to go had to book it for 3 different nights. This particular restaurant charges €170 per head for a no-show or cancellation, so for the 33 people to not turn up for the two other nights it will cost over €10,000 to not have dinner!! not to mention the cost of the actual dinner (assuming they go there at all). I dont even know where I'm going with this but the more time I spend around these people the more my perspective of money and wealth get's distorted.
I mean, what does £50,000 mean to you? A beach house in Thailand? A years wages? A night out in Porto Cervo? A cashmere sweater?
My brain hurts.
Then you realise your entire mortgage you will be paying for 25 years is less than that.
There's an exchange rate between Company money and your own money and it's about 10 to 1!
Until it's your own firm. Then it's fecking terrifying.
Harry Flashman said:
plasticpig said:
After a certain point it is just point scoring. Being worth £1bn is very little different to being worth £5bn. My admiration goes to the wealthy people who use their wealth to try and make a difference in the world.
+1Big fan of Bill Gates for this reason alone.
Don said:
Harry Flashman said:
plasticpig said:
After a certain point it is just point scoring. Being worth £1bn is very little different to being worth £5bn. My admiration goes to the wealthy people who use their wealth to try and make a difference in the world.
+1Big fan of Bill Gates for this reason alone.
w
ker 
The ex-stepfather of a mate of mine, is a wealthy rock star, he seemed to spend all his time coked out of his face, fannying about in his studio, which is probably why his wife left him. I think if you can do that everyday in a sweet house in Henley then you've got enough cash to be wealthy.
I used to work with a lot of gentleman rally drivers. These are people who will spend £500k on a World Rally Car, and then £25k on an engine build every 1000km, £3k for a carbon clutch pack etc etc. This is a hobby, which they would pursue maybe half a dozen times a year. Maybe cost them £80k to do a WRC event. They would turn up in helicopters and use private jets as if they were taxi's and always have loads of hangers on that were riding the gravy train. One even sent over a £15k bottle of wine as a birthday present.
All were very nice people, but I would not want to cross them. You don't usually accumulate serious wealth by being a nice guy. When out with them, your glass would never be empty before the next £200 bottle of wine arrived at the table.
BUT, I always got the impression that they could never really trust anyone. They had a lot of trouble keeping their kids grounded, as they just assumed Daddy would pay for everything and see them alright for the rest of their lives. They also had the habit of seeing who could piss highest. If one got a new service truck then another would buy one twice as big. There was always a lot of jealousy from other people, and a lot of speculation and rumours as to where their wealth was made.
Bit of a double edged sword I guess.
All were very nice people, but I would not want to cross them. You don't usually accumulate serious wealth by being a nice guy. When out with them, your glass would never be empty before the next £200 bottle of wine arrived at the table.
BUT, I always got the impression that they could never really trust anyone. They had a lot of trouble keeping their kids grounded, as they just assumed Daddy would pay for everything and see them alright for the rest of their lives. They also had the habit of seeing who could piss highest. If one got a new service truck then another would buy one twice as big. There was always a lot of jealousy from other people, and a lot of speculation and rumours as to where their wealth was made.
Bit of a double edged sword I guess.
in my book would be the price for filling up the tank of a decent sized Sunseaker.I know a few.
Most of them are fairly normal, more so the ones who made their own money or come from old money. 2nd and 3rd generations tend to be a little more likely to be 'removed' from reality.
ETA for me I think it was Soovy who summed it up best. "Being able to live of the interest on your interest."
To me £50k wouldn't 'change my life' but it would certainly help me to start to change a few things!
Most of them are fairly normal, more so the ones who made their own money or come from old money. 2nd and 3rd generations tend to be a little more likely to be 'removed' from reality.
ETA for me I think it was Soovy who summed it up best. "Being able to live of the interest on your interest."
To me £50k wouldn't 'change my life' but it would certainly help me to start to change a few things!
Edited by Rude-boy on Friday 17th July 01:18
I know 2 of the guys who started up PACE electronics.
Robert Fleming owns the airfield my parents used to fly at. Really nice bloke. Has no idea what to do with his money. So buys aeroplanes and I think his yacht, that he has never seen, is in the med.
David Hood I have only met a couple of times when he has visited the airfield.
NEither are eccentric, or need things doing for them.
Robert Fleming owns the airfield my parents used to fly at. Really nice bloke. Has no idea what to do with his money. So buys aeroplanes and I think his yacht, that he has never seen, is in the med.
David Hood I have only met a couple of times when he has visited the airfield.
NEither are eccentric, or need things doing for them.
One in particular, a good mate of mine - his Dad is worth £100m+ according to Wikipedia!!
They jump in the private jet to Portugal like I would take a taxi in to town. You can arrange to go for a beer with him at 5pm, call him at 8pm and he's in Portugal! Spur of the moment.
£3m on a house and £4m renovating it.
They just hemorrhage money.
They jump in the private jet to Portugal like I would take a taxi in to town. You can arrange to go for a beer with him at 5pm, call him at 8pm and he's in Portugal! Spur of the moment.
£3m on a house and £4m renovating it.
They just hemorrhage money.
£50k would be almost 2 yaers wages, or all my debt cleared and some of the OH's mortgage.
I do know some rediculously rich people, i.e. the people we're renting our house from, they have no idea of the value of things. (luckily for us [my parents])
We rent a 3 bedroomed farm house with 300 acres, the owners could get at least £1500 per month, we're paying £800, they aren't bothered about the money, they just don't like seeing the house empty. Now if they weren't so rich, they'd know how much the house is worth and would charge it, but they don't. I dont mean they have deliberately kept the price low, if you spoke to them you'd understand, they really don't know.
I do know some rediculously rich people, i.e. the people we're renting our house from, they have no idea of the value of things. (luckily for us [my parents])
We rent a 3 bedroomed farm house with 300 acres, the owners could get at least £1500 per month, we're paying £800, they aren't bothered about the money, they just don't like seeing the house empty. Now if they weren't so rich, they'd know how much the house is worth and would charge it, but they don't. I dont mean they have deliberately kept the price low, if you spoke to them you'd understand, they really don't know.
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