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Levels of Wealth: Inside The Secret Lives of The Ultra-Rich - YouTube
Channel: MagnatesMedia
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if you
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earned one dollar per second then to
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make one million dollars
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would take you about 11 and a half days
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but to make one billion dollars would
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take you over
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31 and a half years
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you see it's easy to think of wealth in
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terms of rich
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or poor but broadly speaking there are
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arguably five different levels of rich
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and at each level things change very
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drastically
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the difference between what a
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millionaire can do and a billionaire can
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do
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is simply staggering in this video we'll
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be exploring what life is like
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and each of these different wealth
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levels and delving into how the ultra
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rich
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spend their money including some of the
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most bizarre
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and extravagant purchases you've ever
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heard of
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but as you're watching you'll realize
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that one of the biggest changes that
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happens
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at each of these wealth levels is
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perspective
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because prices feel relative to how much
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you earn
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so if you compare someone who's earning
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40 000 a year
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with someone earning 400 million a year
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it's ten thousand times more
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which means a lambo that costs three
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hundred thousand dollars
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to them is the equivalent of spending
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thirty dollars
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a ten million dollar piece of art feels
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like a thousand dollars
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a 50 million home in the hamptons feels
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more like
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five thousand dollars so was to us
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each of those purchases would feel so
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major to a billionaire it's not even
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something
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they'd really need to think about and of
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course when you're that wealthy
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it's not just items and experiences that
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you can buy
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but we'll get to that let's instead
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start off
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with the first level of rich the top
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1 even though this phrase is synonymous
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with being extremely rich
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if your income is over about two hundred
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thousand dollars a year
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you would technically be part of the top
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one percent of worldwide earners
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and so being in the top one percent may
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not make you feel
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quite as rich as you would think because
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sure
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you can typically afford a nice house
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and car but with those things comes
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higher costs
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and so you probably don't feel very
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financially secure
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and you're likely still working a
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full-time job
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which is why beyond this level wealth
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starts to be measured
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in net worth rather than income because
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the more wealth you have
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the more assets you have and you're
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probably not making your money
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from a normal salary so the next level
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of rich
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is a net worth of 10 million dollars to
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30 million dollars
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at this level your needs are met you can
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live a very
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comfortably you have a really nice house
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you often fly
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first class internationally if it's a
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special occasion you might book a
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2 000 suite you can afford any health
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care you need
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and in fact no emergency financial
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situation can destroy your life
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and yet you're still not rich in the way
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that money doesn't matter
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you still have to be sensible and
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careful when it comes to big decisions
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and in the banking world you're still
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not classified as having an ultra high
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net worth
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which brings us to our next level a net
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worth of
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30 million dollars to 100 million
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dollars
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at this point you start playing in the
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big leagues
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and most likely you run or have a
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controlling interest in a very large
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company
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you always stay at five star hotels and
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you have multiple residences
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all around the world that you can stay
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in as well you take holidays
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during prime time for example going to
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monaco for the grand prix
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or cans for the film festival and you
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won't bat an eyelid
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when the place you're staying at costs
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10 to 20
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000 per night you have personal
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assistance
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and are starting to have people that
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others have to talk to
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to get to you you can buy pretty much
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anything that normal people think of
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as stuff rich people buy like you can
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buy any cars you want
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the fanciest jewelry and so on instead
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of flying first class you'd fly privates
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although having said that you typically
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charter a flight or
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own a private jet fractionally through a
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service like netjets
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instead of buying it outright and having
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to maintain it
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but still at this level another big
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change that happens
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is your social circle you probably start
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socializing with congressmen
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senators and community leaders you're
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likely
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very well respected within some very
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high-class circles
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interestingly though since you're likely
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surrounded by other
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ultra-wealthy people you may start to
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feel
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you don't have enough sure you may have
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just bought a new ferrari
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but your friend has a limited edition
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version where only five were ever made
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and sure you had dinner with a local
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governor but your billionaire friend
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just had dinner with the president
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even at this level people are still
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looking above them
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which brings us to our next level of
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wealth a hundred million dollars
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to a billion dollars net worth to be at
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this level
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you likely have ownership or control of
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a business that most of the public have
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heard of
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even if they haven't heard of you
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directly at this point
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you can likely socialize with movie
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stars rock stars and the corporate
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elites
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you can go pretty much anywhere you want
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and always in style
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you have multiple residences with staff
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all over the world
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with elite cars at every residence if
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it's your thing
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you might have a private island and of
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course a private yacht
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to get you there almost any experience
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you can dream up
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you can have wanna play tennis with your
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favorite star
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call his people for a donation of a
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hundred thousand or more to his charity
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you can probably play a match with him
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want your favorite band to come and play
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at your private party
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well for the right price they probably
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will what about if you love art
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your people could arrange for the
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curator of the louvre to show you around
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and show you some masterpieces they
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haven't exhibited in years
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if you can dream an experience up you
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can likely have it
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donations and fees can get you to anyone
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and once you have many hundreds of
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millions of dollars it's the same when
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it comes to buying things
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you may hire people specifically to find
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you the most extravagant versions
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of items you can think of for example
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the australian company toilet paper man
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produces 22-carat gold toilet paper
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for a cost of over 1.3 million
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and if you are going to quite literally
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flush money down the toilet
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why not get a gold toilet or an entire
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gold bathroom
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to go with it in fact if you're ultra
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wealthy
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you can literally have gold everything
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how about a 24 karat gold water bottle
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which in itself is a piece of designer
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art and comes with
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spring water from france and fiji
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combined with
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glacier water from iceland or
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alternatively
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how about the world's most expensive
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iphone that has
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24 karat gold casing and more than 600
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white and black diamonds plus sapphire
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glass for the screen
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this obviously isn't available to the
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general public to buy one you're going
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to need over 15 million dollars
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but this is the key at this level it's
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not just about buying the fanciest
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most luxurious items it's about getting
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the rarest and most exclusive things
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you possibly can for example you could
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get a limited edition pen
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that costs 160 000 has
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4810 diamonds inside and only
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eight are made each year or if you want
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to go a lot bigger than that
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many billionaires turn to art and not
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just rare paintings
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but things like this dead shark art
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piece created by damian hirst
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that sold for 12 million dollars or
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let's say you like piano
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well here's the same crystal piano that
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was used for the beijing olympic games
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that was purchased at a private auction
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for a record 3.2
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million dollars you see when you're at
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this wealth level
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your mind is the only real limit to what
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is available
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but then we have our final level
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the 1 billion net worth and above
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now before we get into what you can do
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as a billionaire which
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honestly is pretty insane it's worth
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noting that the number of billionaires
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on forbes's annual rich list
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has significantly increased in recent
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years and there's now around
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2755 known billionaires
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of course it's possible there are more
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who have generational wealth that simply
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do a good job of staying
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very very private but either way
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forbes have estimated these 2 755
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billionaires
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are worth a combined 13.1 trillion
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dollars
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and therefore have more wealth between
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them than the poorest 5 billion people
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on earth combined
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these statistics are overwhelming but
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let's actually visualize it to put
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things in perspective
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this rice example really highlights that
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even within this billionaire category
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the difference between 1 billion and the
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kind of wealth jeff bezos or elon musk
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have
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is insanely vast i'm also a big fan
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of james janney's youtube channel and he
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did a great job of visualizing the
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difference between these large sums of
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money
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in a different way so after seeing these
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examples
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we've now got a better idea of the scale
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of a billion dollars
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so now let's look at what you can
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actually do with that
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because essentially you can buy anything
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and i do mean anything we're no longer
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talking about luxurious items and
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experiences
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firstly you can buy access you can ask
[590]
your staff
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to contact almost anyone on the planet
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and get a call back
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it's amazing the level of access and
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respect a billion can get you
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where within an hour you could ask your
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people to get in touch with someone
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and they'd be able to do it and i'm not
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just talking about contacting
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celebrities
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it worked the same with powerful people
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within politics as well
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especially because the billionaire may
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well be a donor to their political party
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and so if you're a billionaire you may
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occasionally meet with the heads of
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states
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and have conversations with them which
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brings us to the second thing a billion
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dollars can buy
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influence as a billionaire you have many
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ways to shape public policy
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and the public debates and this isn't
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always done in some kind of evil way
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like lobbying for lower taxes for rich
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people although
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obviously that does happen but the
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simple fact is because of your wealth
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and connections
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you can absolutely influence big changes
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in the world
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and not just on a political level
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because another thing you can buy
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is impact through philanthropy and
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charity
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your money can literally change
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countless lives
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the question is how do you distribute
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them clean water for villages
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fund new hospitals try to save a dying
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species of animal
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with money you can impact almost
[670]
anything of your choice
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but one of the biggest differences with
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billionaires that is often overlooked
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is the ability to essentially buy time
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you quite literally don't have to wait
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for anything no lines
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no sitting around just think about it
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you've got your own private jet
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so you just show up at the airport
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whenever you want sit down in the plane
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and two minutes later you're in the sky
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and can go wherever you wish
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when you arrive a driver will have
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already been arranged to pick you up
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and take you wherever you want to go
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your assistant will have already got the
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best table
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at the restaurant you mentioned wanting
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to eat at or maybe your assistant
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arranged for a celebrity chef
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to come to one of your vacation homes
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instead at whatever time
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you choose everything you could need is
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taken care of
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for you however believe it or not there
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are some downsides
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to being this ultra wealthy firstly it's
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nearly impossible
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to have normal emotional relationships
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at this level
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it can become increasingly difficult to
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have friends and family
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that love you for who you are they exist
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but it's pretty hard to know which ones
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they are because your world is likely
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filled with yes men
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and people looking to take advantage at
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every opportunity your trust and
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connections with people
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are undoubtedly considerably weakened
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dating also becomes an odd experience on
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the one hand
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some of the world's most beautiful and
[755]
intelligent women are all around you at
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parties and events
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but again finding someone you have a
[760]
genuine emotional connection with
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is a different story especially because
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your time is so valuable
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that you're always busy and unable to
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invest in making deep connections with
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new people
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and even if you do find someone the
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relationship balance is skewed in a
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strange way
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when you have essentially unlimited
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money because no matter whether you pay
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for everything
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or whether your partner makes their own
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money either way
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something about the dynamic feels off
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and finally and most crucially of all
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no level of money can give you truly
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everything
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because death is the great equalizer and
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losing loved ones
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and losing your own health and facing
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your own mortality
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are problems that no amount of money can
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solve the reddit poster who inspired
[805]
this video and deserves full credit
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talks about how he met sylvester
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stallone at a party who had obviously
[811]
had a very successful career
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he said he was such a great guy had huge
[816]
levels of wealth
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and luxury a smart and beautiful wife
[820]
and yet he also had a special needs son
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who died young
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in his words nobody has it all
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nobody in fact if you are watching this
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video
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and feeling poor i think it's worth
[834]
rethinking
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because in this video we've looked at
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several levels of wealth
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but the fact you are watching this means
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you are nowhere
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close to the bottom of the total wealth
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pyramid
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it's easy to look up and feel frustrated
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that some people have so much more than
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us
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but just look down the wealth pyramid
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for a moment
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if you have internet access to watch
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this plus some food in the fridge
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clothes on your back a roof over your
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head and a place to sleep
[862]
and you are richer than 75 of the world
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in fact even if you have one dollar to
[868]
your name right now
[869]
you are still richer than the majority
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of the world who are either in debt
[873]
or have absolutely nothing
[876]
what this video really highlights is
[878]
that rich versus poor
[879]
is so arbitrary it's not two groups
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there are many many
[884]
different levels and compared to most of
[886]
the world
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you might well be a lot richer than you
[890]
think
[891]
if you enjoyed this video please make
[893]
sure you subscribe and turn on
[895]
notifications
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for future mini documentaries that are
[898]
on the way thank you for watching to the
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end
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you are a legend and i'll see you next
[903]
time cheers
[913]
you
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