How the Super-Rich Spend Their Money

I recently read this article on CNN Money, “How the Super-Rich Spend,” and just had to share the highlights with you. Let’s start by looking one of Santa Barbara’s most famous residents, Oprah, who owns an $85 million mansion on a 42-acre estate in Montecito, that she calls “The Promised Land.”
Montecito is known for being a picturesque, but somewhat secluded region on the south coast of Santa Barbara County. Our lovely Mediterranean climate is one of the many things that draw people here, but those of us fortunate enough to call Santa Barbara home know that we can be thankful for much more than the weather. One of my favorite things about living in Santa Barbara is the healthy lifestyle. In fact, in a recent blog I shared “Reasons to move to Santa Barbara.”
Oprah reportedly paid $52 million for her home, and then spent hundreds of thousands more on decorating, redecorating, and renovating. But her generosity extends way beyond herself. After she discovered in 2011 she had a half-sister, she bought her a four-bedroom home in Wisconsin worth half a million dollars.
Meantime, Beyonce and Jay Z spent $80,000 for a diamond-encrusted Barbie doll for their daughter Blue’s first birthday. Then there’s Oracle CEO Larry Ellison, who owns a 23-acre estate in California AND the 88,000-acre Hawaiian island of Lanai that he purchased in 2012 for $300 million. For the jet-setting couple David and Victoria Beckham, driving in style is mandatory. David has been known to roll around London in a Porsche 911 Turbo convertible worth $145,000, while he gave Victoria a $475,000 Rolls-Royce Phantom.
How the super-rich spend their money is their business, of course, but if you consider yourself among them, or at least financially stable, and if your financial needs and wants include purchasing a new luxury home in Santa Barbara, Hope Ranch, Montecito or the other surrounding upscale communities, just give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com. With more than 25 years in the industry, I have the experience and knowledge to guide you in the right direction!