Review: The Wealth Report

<--Robert Frank

I can sit for hours (and have) reading The Wealth Report and it's detailed observations of the uber rich -- those with assets over $25 million. I mean, if I aspire to be like these people I should study them right?

This blog is written by Robert Frank, an author who coined the terms "Richistanis" and "Richistan" because, "their lives are so different from those of the rest of us that it's as if they live in another country."

Please, make sure to read the comments on his posts and articles -- they are hilarious, enthralling and entertaining. My favorite article on this blog site: "Googling Dad's Assets." If you read nothing else, read that one.

Things I've learned from The Wealth Report:

1. People are very suspicious and question even the kindest charity attempts by the uber-rich.

2. It is not the uber-wealthy you should look out for, it's the millionaires aspiring to be uber-rich (the wannabe uber) . . . they really don't like mixing with the commoners.

3. Everybody has an opinion of how better to spend uber-rich people's money.

4. I now know the difference between a personal chef and a private chef.

5. The rich have "a lot" of investment opportunities that the rest of us don't have, and that is why (and how) they are uber-rich. Did you know that you have to have $2.5 million in assets (excluding equity in the house or business) to be eligible to invest in hedge funds?

6. There is industry called Donor Consulting, which involves advisers that help the rich give away money. As quoted in the article, they "ensure your dollars go where they are supposed to go." Oh, did I mention that the rich pay up to $30,000 for this advice?

7. Dreamliners (747s) are flying RV's for the rich (especially rich Middle Eastern people).

8. Kids of rich people can -- and often do -- Google their parents to find our their net worth.

9. When you are rich and a woman, wearing the same gown as someone else at the same event is really bad . . . but what is societal suicide is being photographed at two different events wearing the same outfit!

There's more, it's great reading.

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