18 Things The Rich Waste Money On

Aaron Rossi

In the world of extravagant wealth, the ultra-rich have countless ways to spend their fortunes. From multi-million-dollar homes that remain unused to exorbitantly priced everyday items, these lavish expenditures often seem more about flaunting wealth than adding genuine value to one’s life. We look into how money is spent on high-end luxury items and experiences that, while impressive, often go underutilized or provide little practical benefit.

Multi-Million Dollar Homes That Don’t Get Used

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Now, mansions themselves are not a waste—wouldn’t we all love to have one? But some wealthy families own properties they never even use. They may be bought as vacation houses or winter skiing properties, but they decide to go somewhere warm instead and end up never or rarely using their luxurious homes. So, just think about how many lovely properties are sitting around unloved right now.

High-End Grocery Stores

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We all want to eat healthy, and for most of us we say we cannot afford to. But certain grocery stores are not healthier, nor do they offer any benefits that other stores don’t; they are just pricier. Stores like Erewhon capitalize on this, glass bottled water selling for $14 is a prime example. There is nothing special about the water when compared to other brands, it just seems more luxurious.

Overpriced Clothing

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Everyone likes looking nice, but sometimes this stuff costs thousands and doesn’t even look nice! We have all seen some overhyped brand that sells a piece of clothing for $5,000 and looks cheaply made. Even charging $1,000 for a jacket (looking at you Canada Goose) is insane for those who aren’t trying to show off their status.

Luxury Yachts with Submarines and Helipads

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Owning a boat is awesome. Getting out on the open water and enjoying the waves is a very nice experience. However, a billion-dollar superyacht is not necessary to enjoy it; in fact, you might be even more disconnected from the water in one. Sometimes, the enjoyment you get from these experiences is the simplicity of it. Camping is a great example; you go out into the woods with no Television or computer and enjoy what nature has to offer.

Private Jets with Customized Interiors

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While a private jet itself could be useful for the time it saves you and the headache that flying can come with, especially as a high-profile individual, a super expensive Jet with a gold-plated interior does not add to your comfort. Certain things actually increase enjoyment, and others just flaunt your wealth.

Space Tourism

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Exploring the final frontier is definitely an interesting experience few can afford, however the extreme price makes the benefits seem futile. It is a service that can truly only be offered to the ultra-rich, and they offer no more than the novelty that comes with being able to say, “I went to space.”

Extremely Expensive Bland Art

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I love art, but certain pieces are overpriced for their simplicity. A blank canvas with a dot in the middle should not sell for 5 million dollars; these pieces cannot hold that much sentimental value. Purchases like these are truly made to show off exorbitant wealth.

Exotic Car Collection

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Now, I’m not knocking car lovers one bit. But when someone owns a fleet of vehicles that they never drive and just sit in storage, it feels like a big waste. Classic cars can be extremely beautiful pieces of art, but when they aren’t driven or even seen by the owners, they are letting that work go to waste. So, if you absolutely love an expensive car, make sure you drive it.

Exorbitant Perfumes

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A simple Google search will reveal the insane prices people pay for perfumes. $13,000 for a small bottle of perfume is a huge waste of funds. Everyone likes smelling nice, but when paying that much, you might as well rub the money on yourself and walk around with the scent of it. That is a better way to use your money.

Gold Plated Everyday Objects

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This goes without saying; nobody needs a solid gold stapler. I cannot comprehend trying to flex this way. Everyone has their foolish purchases; I’m guilty of it too, but a solid gold unusable object? That’s a bit out there, and don’t even get me started on the supreme crowbar.

Personal Zoos

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Seeing exotic animals is a wonderful experience—it’s not every day you get to see a Lion or a Rhino—but owning them is not the solution. A lot of times, rich people’s personal zoos end up being horrible living conditions for the animals, and anyone can go to a zoo. So this is another status purchase to show how much money you can waste, sadly to the animals’ detriment.

Private Submarines

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Think about the reality of owning one. How often do you hop in your sub and explore the depths? While it is a cool novelty, there isn’t much to see down there, and they are rarely used. The high maintenance costs really diminish the benefits of owning one.

Historical Artifacts

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While the idea is very cool, most artifacts have been stolen from their original place, and they truly belong in museums for all to see history. Imagine how many cool pieces of history are being kept in someone’s study, or above a fireplace. These kinds of things belong in their homeland in a place for all to see and experience.

Luxury Fish Tanks

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Fish are definitely interesting to watch in their tanks for hours, but they can be very expensive. Who remembers the TV show where they made people luxury fish tanks for their homes? Those tanks cost anywhere from tens of thousands to hundreds of thousands and beyond. Another example of something you could see at an aquarium and would probably get bored of at home, not to mention the upkeep costs.

Million Dollar Watches

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Rolexes can be worth millions, and even crazier is the fact that adding diamonds to them decreases the price. AP’s and Rolexes are extremely expensive objects that do the simple task of telling the time, just like any other watch. Even scarier is the fact that they open you up to getting robbed or accidentally losing a million-dollar piece.
Designer Alcohol Bottles, honorable mention

Bottles at the Club

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Countless super-expensive bottles of alcohol are truly no different than any other alcohol. These bottles can be designed by artists or celebrities and are usually kept as collectibles. I can only imagine (because I can’t afford them) that the flavor is no different from any other alcohol.

Luxury Vacation Packages

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While technically not a vacation but more of a condo, recently there was the newly announced residential Cruise line that you can live on starting at the small price of a million dollars. This is a waste because you would certainly get tired and homesick after a period of time, and you could get this same experience with a regular old cruise. Especially if you are rich, you can afford to stay on a cruise 24/7 for less than 1 million.

Personal Concerts

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This is a concept reserved only for the financially blessed. Most musicians charge anywhere from $50,000 for one show to prices that would make your head explode. It is an all-for-one show, and while it would be interesting to have your very own private concert, this could so easily be attained by getting some super expensive front-row seats at a concert.

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