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To The Rich & Famous, Square Footage of your Home Means Little
It is hard to understand why the rich and famous do what they do with their money. They have plenty of excess money, so much so, they are clueless what to do with it, so they just spend. For instance, take the couple Brad Pitt and Angelina Jolie, each earns $20 million a movie. They easily could earn $80 million in a year as a couple making two movies per year. Just where do they put that kind of money? They must save most of it or invest it because once the physical wish-list is filled, there is nothing more to spend it on.
They, like other very rich people, build huge mansions where 2 to 4 people may live in. How big, well, even a 3000 square foot home is plenty of room, but the rich just waste it on homes that are 49,000 sf, like Anthony Pritzker in LA. He is the heir to Hyatt Hotels. His home has a pool, spa, his and her's offices, crafts room, recreation room above ground. Underground, he has a game room, bowling alley, entertainment area with bar, library, staff rooms. His neighbor is a Saudi prince with a 70,000 sf home. To understand the size scope, the White House is 55,000 sf. Elvis's Graceland is 10,300 sf. New England's Patriot quarterback owns a 18,000 sf and it is for only TWO people and includes a 1600 sf gym (that is as big as MANY homes and condos). However, the biggest private home is being built now in Scottsdale, AZ. When completed is will have a total of 100,000 sf of which 77,000 sf are living areas with five elevators, two underground living areas and a master bedroom of 2100 sf (the size of the average home). Its owner is Jason Hope who is going to court over unauthorized charges on text messaging (well, at least we know how he made his money). Yet, all this house for just a few people, I am sorry, I don't get it. Such a waste of money but I guess it is just relative to your lifestyle. To a movie star like Pitt, spending even a million on something has no real impact, let alone donating $10,000, which must seem like spare change to him. I guess, it is an investment but one that may not payoff.
The rich and famous really do have money to throw away.