How are the super-rich splashing money during the pandemic?

Buying helicopters, super yachts, hunting land, building modern swimming pools … are the things that make the super rich splash their money during the epidemic season.
As many countries are engulfed in Covid-19 and facing a bad economic recession, the wealth of the super-rich has increased significantly.

As of mid-December 2020, Forbes It is estimated that the net worth of the group of more than 2,200 billionaires in the world has increased by more than $1.9 trillion. Many of these people are spending a large part of their money on personal pleasures, according to NZ Herald . Recently, Jeff Bezos, the owner of Amazon, bought a yacht so large that it needed a “side boat” to support. The total estimated value of this yacht is up to 500 million USD. That figure is just a fraction of the more than $75 billion in earnings Bezos made last year. The super-rich are “crazy” to buy probes and cruisers. Photo: NZ Herald. Over the past year, superyacht maker Cecil Wright & Partners has sold 354 units, costing $840 million to build. Due to travel restrictions between countries, many have been acquired. The super-rich are also eyeing the Arksen marine exploration ship and luxury cruiser. At around $17 million, they allow owners to explore the wildest places on the planet. “The elite want to know how far they can go when it comes to unexpected adventures,” says Jasper Smith, president of Arksen. Longing to travel Helicopters and electric cars are also favored by Ultra-High Net-Worth Individual (UHNWIs) individuals. They hope to make the most of them once the Covid-19 pandemic is over. “Three times in lockdown and spending most of my time at home has made me hungry to travel and experience,” said Martin Reith, president of Luchford, the media agency for luxury brands. In addition, the super-rich also want to find private resorts. For example, Lopud 1483 in Croatia, a renovated monastery with a rental price of 137,000 USD/week, or Deplar Farm, which offers high-speed heli-skiing and luxury trout fishing in Northern Iceland. Private planes and helicopters are loved by the elite. Photo: Insider. Many other rich people are also interested in electric cars. They love buying a Polestar 2 and riding around the city on Porsche’s new e-bike. Meanwhile, helicopters are more popular than ever in the UK. “Bamfords helicopters are a regular occurrence at the Daylesford Shire. I saw them hovering more and more over the Cotswolds. They come in handy for commuting to London. Owners can go anywhere in minutes,” said Harry Gladwin (from the UK). For others, hunting for land and houses is a prerequisite. Jess Simpson, a real estate agent over $20 million, receives three calls a day. Simpson said his clients are always worried there won’t be enough room for nannies, tutors and grandparents should the government blockade again in the future. “Bahamas is a good choice because of the good tax rates. In Europe, the South of France and the Balearics are attracting great interest. Some have moved to Ibiza permanently to send their children to private schools and enjoy life. Also, Portugal is also very popular, because buying a house there can guarantee EU citizenship,” Simpson said. Currently, the richest people in the UK are focusing on buying more houses. Their obsession with space has brought them to Scotland, where there are sports grounds and castles to relax with friends and family. Real estate investment Beach homes are also selling at a rate not seen since 2007. Many are looking for apartments in Norfolk, Dorset and Cornwall. “Private vineyards are gaining in popularity. Many have even established oak plantations,” adds Simpson. While the middle class is fleeing the capital to find a place to live, the super-rich still see London as “true love”. Others are investing in art and furniture. Baird Allis (40 years old), a lawyer, feels happy to own paintings of the Dutch golden age. Modern swimming pools are favored by the rich. Photo: New York Times. In addition, the upper class also splashed money on basements to create multifunctional spaces for working, relaxing, exercising, eating and playing. “Customers often want a meditation room, a ‘vitamin C shower’, a giant changing room, a golf simulator, and a tennis player in their own home,” said Edoardo Alessandro Mapelli Mozzi (UK), real estate developer. real estate, say. After a year without parties, socializing activities are also a priority for individuals with extremely high net worth. It’s no surprise that London’s most exclusive restaurants cater to only 10 pre-booked diners each evening. According to expert Katrina Kutchinsky, the trend of home restaurant-style dining continues to explode. It is normal for the super-rich to invite famous chefs like Alex Webb, the MasterChef champion, to prepare dinner by the pool. Natural swimming pools are equally popular. The list of works of many furniture companies has stretched to 2022. This leaves the super-rich customers with no choice but to endure a summer of “no” new-style swimming pools.