Wealth at the billionaire level opens doors to a lifestyle few can imagine. Beyond luxury homes and private jets, the ultra-rich invest in projects and possessions that range from futuristic innovations to rare collectibles.
While some of these expenditures serve as status symbols, others reflect personal passions or long-term ambitions.
Here are seven ways billionaires spend their money:
Biotechnology
Some billionaires are investing heavily in biotechnology to push the boundaries of human lifespan. Google co-founder Sergey Brin and PayPal’s Peter Thiel have poured millions into firms researching life extension, age reversal, and even cryogenic preservation.
Investing in space exploration and technological innovations
Space exploration has become a playground for the ultra-wealthy, with billionaires funnelling vast sums into private ventures. Elon Musk’s SpaceX and Jeff Bezos’s Blue Origin are racing to commercialise space travel, while Virgin Group founder Richard Branson’s Virgin Galactic aims to offer commercial spaceflights to paying passengers. These investments signify a broader trend among the wealthy to pioneer advancements in technology and transportation.
Acquiring rare art and collectibles
The affluent often invest in rare art pieces and collectibles, not only as status symbols but also as appreciating assets. For instance, hedge fund manager Steven Cohen is known for his extensive art collection, including works by Picasso and de Kooning, worth billions of dollars.
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Purchasing extravagant properties
From private islands to expansive estates, billionaires invest in luxurious properties worldwide. Oracle co-founder Larry Ellison, for example, purchased 98% of the Hawaiian island of Lanai for a reported $300 million, transforming it into a private retreat.
Funding unique personal projects
Some billionaires allocate their wealth to unconventional personal endeavours. Amazon founder Jeff Bezos invested in the construction of the 10,000 Year Clock, a mechanical clock built inside a mountain in Texas, designed to run for ten millennia.
Collecting exotic items
The ultra-rich often seek out unique and rare items to add to their collections. For instance, Nicolas Cage purchased a rare dinosaur skull for $276,000, which later turned out to be stolen and had to be returned to authorities.
Investing in luxury transportation
High-end vehicles, yachts, and private jets are common acquisitions among billionaires. Russian billionaire Roman Abramovich is known for his collection of mega yachts, including the Eclipse, which was the world’s largest private yacht when it was launched in 2010.
