Word: superrich
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...luxury has become a commodity for everything from handbags to haircuts, élite hotel chains like the Four Seasons and the Ritz-Carlton have begun to seem ho-hum to the growing ranks of superrich travelers. Yet despite pent-up demand, less than 1% of the 19 million hotel rooms on earth are deemed "ultraluxury." That's an emerging category defined not only by price but also by the distinctive décor in every room, attentive, personalized service and exclusivity--why would you want to hang out with people who aren't as rich as you are? These...
ULTRA-AFFLUENT Latin America has the highest level of the superrich (at least $30 million), when defined as a percentage of the total number of rich individuals living in a region...
Several publications have diagnosed a growing socioeconomic ill: The desperate plight of lawyers, bankers, management consultants and other members of the "merely rich" who are forced to keep up with the new "superrich"--hedge-fund managers, CEOs, YouTube founders and the like.* The gap between a seven-figure income and a nine-figure income is certainly a glaring one, yet society forces such families to share gated communities, country clubs and private-school auctions. What does it profit a man to have a showy house if his neighbor has an even showier one? In a kingdom of billionaires...
...this year was generated by private-banking operations. While retail banks must focus on volume by hawking me-too products to millions of less-wealthy customers, private banks can rack up bountiful revenues by offering a wide range of lucrative services to a smaller number of rich and superrich clients. It's not uncommon for a top private banker to thrive with as few as a dozen clients, who are happy to pay richly for personal guidance on such esoteric matters as, say, reducing taxes, setting up a low-risk-high-return hedge-fund portfolio, investing in emerging-markets property...
...school's 2700 Club, for lifting a combined total of 2,700 lbs. in the power squat, dead lift, bench press and clean and jerk. He was one of the North Side kids, from the more privileged side of the Santa Monica Boulevard line that separated the superrich from the merely wealthy. Abramoff's father Frank had transplanted the family from Atlantic City, N.J., when he became a top executive at the then exclusive Diners Club credit-card company and a protégé of one of Ronald Reagan's closest friends, Diners Club chairman Alfred Bloomingdale...