How Are the Ultra Wealthy Spending Their Money?


How Are the Ultra Wealthy Spending Their Money?

If you were extremely wealthy what would you spend your money on? Chances are if you’re reading this, then you don’t have to dream about being extremely wealthy; you already have plenty of money at your disposal. So what comes to mind? What are people like you spending their money on? Perhaps luxurious vacation homes in exotic locations are high on the list. Maybe a private airplane or a fleet of breathtaking yachts would be on the list. Expensive jewelry, art collections, or even rare wine collections could all be common items the wealthy are pouring their money into. However, it seems that one type of collection is a favorite with many of those who count themselves among the world’s super-rich: cars.

Luxury Vehicles Top the List

In fact, according to the consulting firm Bain & Company, luxury car sales are expected to grow 8 percent in 2016, which would put them at an all-time high. The growth of luxury car sales is also easily outpacing the growth in sales in several other luxury segments, including the aforementioned art and wine, as well as hotels and food. To give an even clearer picture of how hot the luxury car market is amongst the wealthy, according to a report from Bain, the overall luxury good market is expected to hit $1.2 trillion in 2016, with 40 percent of that spending going towards luxury and exotic vehicles.

Top of the Line Vehicles Seeing Most Growth

What’s more, it’s not just the common names, like BMW, Audi, Mercedes and others like them that are seeing the most growth. While these carmakers are responsible for a large majority of the growth, it’s actually the most expensive and rare names that are growing the fastest. Names like Lamborghini, Ferrari, and Rolls Royce and other top tier carmakers are seeing the highest growth rates with 20 percent or more each year. While these top-of-the-line companies represent the smallest segment of the luxury market they are outselling everyone else.

Plenty of Foreign Buyers

So who are the lucky owners fortunate enough to be snatching up these exotic vehicles? According to Bain, Russia, China, Indonesia and the Gulf states are responsible for the fastest growth. In fact, buyers from the Gulf are purchasing these vehicles in their home states, as well as in other locations when they are staying in their additional homes. Not even the ongoing recession is slowing down buyers of these vehicles in Russia, who are taking advantage of their U.S. dollars that are stashed away in foreign locations. Meantime, as for the previously mentioned private jets and yachts, they are headed in the opposite direction. Private jet sales are set to decrease by 5 percent in 2016 and yacht sales are expected to be stagnant. Overall, the luxury goods market is expected to grow this year, by 4 percent over last year.

We hope you found this article about “How Are the Ultra Wealthy Spending Their Money?” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at  Unfortunately, we no longer give advice to other tax professionals gratis.

To receive our free newsletter, contact us here.

Subscribe to our YouTube Channel for more updates.

Alan Olsen, CPA

Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

Alan L. Olsen, CPA, Wikipedia Bio is a proud sponsor of The American Dreams Show.



The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:

Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…

Untitled_Artwork copy 4 (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.

Our mission at is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

Posted in
Unveiling Entrepreneurial Success with Randi Brill

Unveiling Entrepreneurial Success with Randi Brill

Randi Brill, best-selling author and CCO of Just Call Randi Design Agency discusses unveiling entrepreneurial success on Alan Olsen‘s American Dreams Show. Transcript: Alan Olsen Hi, this is Alan Olsen and welcome to American Dreams. My guest today is Randy brill. Ready welcome to today’s show.   Randi Brill Thank you, Alan. I’m glad to be here.  …

Legacy Builders Philanthropic Revolution

Legacy Builders Philanthropic Revolution

Legacy Builders Conference Inspires Philanthropic Revolution The recent “Legacy Builders” event has sparked a philanthropic revolution, inspiring attendees to leverage their accumulated wealth for world betterment. The event, held on May 15, 2024, in San Jose, CA, featured distinguished speakers including NFL legend and HGGC Partner Steve Young¹, retired three-star General Michael Barbero², and Becky…

Transform Your Life Every Morning, Hal Elrod

Transform Your Life Every Morning, Hal Elrod

Hal Elrod, an international keynote speaker and best selling author of 12 books, including “The Miracle Morning“—which has been translated into 42 languages discusses how to transform your life a little every morning on Alan Olsen‘s American Dreams Show.   Transcript:   Alan Olsen Welcome to American Dreams. My guest today is Hal Elrod. Hal welcome to today’s show.  …

Rob Ryan’s Amazing Movie Premiere June 28th on How He Saved the Internet

The Hollywood movie premiere of the Rob Ryan story is a cinematic tribute to innovation.  This remarkable film documents the real-life journey of this visionary from crisis to triumph and how he saved the internet!  On June 28th at 9:30 PM in the iconic TCL Chinese Theatre.  For tickets, click here.   Rob Ryan, Founder…