So the big question everyone has been asking, what exactly do all those Tech Billionaires spend their cash on?
Here are the luxuries and toys most tech billionaires spend their money on.
Yes that right, most tech billionaires have been known to always be on the move and they need something they could use to transport themselves. Most of them buy a private jet for that purpose and also for the billionaire status too though.(I mean, which billionaire does not have a private jet)
Of course they need some cars to get around in the traditional way and tech billionaires have been known to spend their money on vintage cars.
Rob Walton of the Walmart family fortune owns a vintage car collection. He even owns a Daytona Coupe which cost $15 million, and just five of these cars were ever made.
Michael Dell of Dell technologies also has a collection of cars which includes a 2004 Porsche Boxter, Porsche Carrera GT and a Hummer H2.🚘
If they’re not travelling by land or air they’re are travelling by sea on their super yachts.
Paul Allen owns a $200 million yacht and has a basketball court in it. It also has a recording studio
Real estate /Houses
This is one thing almost all if not all tech billionaires spend their money on. They do this as a form of investment and a way to grow their billions.
As a matter of fact Jeff bezos is one of the biggest real estate owners in America. He have been reported to own five homes across the United States in Medina Washington, Beverly Hills California, van Horn Texas, Washington DC and New York City.
Like that is not enough, his Washington DC property is under a $12 million renovation. He was also reported to have bought the former textile museum in 2016 for $23 million and plans on turning it into a two-structured compound used for entertainment.
That not all, he also owns a four-storey building on the Caribbean island of Anguilla and a $73 million home in Hawaii.
Michael Bloomberg is another billionaire who owns about 15 houses around the world from the two houses in London to his home base in New York City. He also owns one in Knightsbridge worth $18 million.
Elon musk is not left out from this list of billionaires home madness, He owns property worth of $70 million in Bel-Air, a $17 million mansion and another $24 million estate. (What’s it with these guys and houses)
The billionaire is also the owner of a townhouse in San Francisco which got a renovation of more than $1 million. And then the big one, he owns two properties in Kauai, Hawaii which is worth a mind blowing $100 million.
Local sports teams
Yes that right, I know this one sounds weird but i found out they love to spend their money buying their local sports teams.
Dallas Mavericks was bought by Cuban for $285 million in the year 2000.
Fast forward to 2014, Ballmer bought the Los Angeles Clippers for $2 billion. (Get it… $2 billion)
Robert Kraft is the owner of New England patriots, and he bought them for $175 million.
Another good way I see this billionaires splashing their cash is by pouring it on media acquisitions. Salesforce CEO Marc Benioff and his wife in 2018, bought the Times Magazine for $190 million in cash.
From paintings to museums to historic figures, if It worth it they’ll buy it.
Alice Walton owns a massive patron of arts that includes those done by Andy Warhol and George O’Keefe. As a matter of fact, she loves art so much that one time she even spent $44.4 million on a Georgia O’Keefe art. That sale went on to become the biggest sale ever carried out on a woman’s piece of art.
Alice Walton in 2011 opened a museum so she could keep her precious arts which are worth over $500 million.
In 1988 Bill Gates bought a Winslow Homer painting for $36 million and that painting hangs in his house in London.
This is the best way I think they all invest their money, even after spending their cash lavishly they still find way to donate towards philanthropy.
Bill Gates also owns a charity organization called the Bill and Melinda Gates Foundation where they have donated over $36 billion.
Bloomberg has donated $3 billion to charitable causes through his own foundation, Bloomberg philanthropies.
Brian Action, the cofounder of Whatsapp, has three foundations: Sunlight Giving, Family Giving, and Solidarity Giving. And the three foundations are keen on supporting low-Income families and human civil rights.
Warren Buffett has donated more than $28 billion to charity throughout his lifetime.
So there you have it, I guess now you know where all those billionaires money go to.
If you’ve got any complaint or suggestions or there is someone who is supposed to be on this list but isn’t? Then let us know down in the comment section.