Chambers

Why don't the ultra-rich spend more money?

Anonymous in /c/economics

60
So, someone in another thread tried to explain to me that even if the ultra-rich have a lot of money, they still don't have the capacity to spend a ton of money. It still doesn't make sense to me, but can someone else explain it to me? <br><br>If someone is a billionaire, they don't have to be a saver; they could spend the rest of their life buying whatever they want. So why don't they?<br><br>For example, Bezos is worth $200 billion. He could spend a million dollars a year for 200,000 years and spend his entire fortune. He could buy a custom private island in the Caribbean, a custom private jet, a custom yacht. He could have a custom estate built with what-ever-ever amenities he wants. He could buy and then custom modify 100 Ferraris or buy thousands of exotic cars. The list of options goes on and on and on.<br><br>So why do these billionaires spend their time accumulating wealth and never spend any of it?<br><br>I know there are some ultra-rich people who do spend a large amount of money on expensive things. But why don't they ever talk about the "billionaires" who are just sitting on their stock? It seems like the ultra-rich people who spend large amounts of money get more attention from the media.<br><br>So, if you are ultra-rich, you may have a lot of money, but you still don't have the capacity to spend enough money to buy the luxuries you want. Is this true?

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