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Yesterday — 5 March 2025Main stream

America is still the world's superrich capital

5 March 2025 at 03:09
A plane, chanel purse, Rolex, gold chain, and other luxury items are displayed together
More than 900,000 people in the US are worth more than $10 million.

iStock; Robyn Phelps/Insider

  • A Knight Frank report said that almost 40% of all individuals worth more than $10 million live in the USA.
  • Over 900,000 people in the US have a net worth in excess of $10 million, Knight Frank said.
  • The US also leads the world in terms of billionaires and overall wealth, the report showed.

More of the superrich live in the US than in any other country.

According to the 2025 Wealth Report by Knight Frank, a London-headquartered global real estate consultancy, 39% of the world's individuals with net worths of $10 million or higher are based in the US. In total, 905,413 such individuals live in the US.

This is almost twice the number in China, which has 471,634. There are 122,119 people worth over $10 million living in Japan. The fourth highest on the list is India, with 85,698.

"Despite our forecast that Asia will outpace North America in wealth creation over the next four years, there is no realistic challenge to US dominance," authors of the paper said.

In the bracket of people worth $100 million and over, more than 40% live in the US.

"While the global economy slowed through 2024, the resilience of the US helped prop up investor confidence," Liam Bailey, global head of research at Knight Frank, said.

"The trends powering wealth creation, including growth in financial markets led by equity markets and the bitcoin run, continued through 2024. And despite geopolitical tensions, resilient global trade further contributed to growth," he added.

Patrick Gower, a researcher at Knight Frank, said a good year for the rich came from a combination of factors, including big bets on risk assets like cryptocurrencies, the S&P 500 rising over 20% for the second year in a row, bitcoin soaring 120%, and President Donald Trump's pledge to loosen regulatory standards.

The US also dominated for its billionaire population, containing 30% of global billionaires and 40% of overall billionaire wealth, Knight Frank said.

$5.7 trillion of billionaire wealth, a 10-year high, is held in the US, the report said. China, by contrast, has seen a 10% decline in its share of billionaire wealth.

In terms of the professions where billionaires are created, finance and investment lead for the overall number of billionaires, but tech leads in relation to total wealth.

On Bloomberg's widely watched Billionaires Index, eight of the world's 10 richest people — such as Elon Musk, Amazon founder Jeff Bezos, and Meta's Mark Zuckerberg — made their fortunes through tech.

The average age of a billionaire was 65.7 in 2024, Knight Frank's report said.

87% of billionaires are male. However, last year, 82% of new billionaires were men, down from 90% four years ago. Almost half of the billionaires under 30 were women in 2024.

Read the original article on Business Insider

Before yesterdayMain stream

15 over-the-top examples of wealth and luxury I saw on my first trip to Aspen, Colorado

28 January 2025 at 09:44
The author in Aspen, Colorado.
The author in Aspen, Colorado.

Monica Humphries/Business Insider

  • When it comes to ski towns, Aspen, Colorado, is as expensive as it gets.
  • Real-estate prices are sky-high, and visitors shell out hundreds for hotels and ski passes.
  • From a $51 million mansion to a ritzy dispensary, I spotted luxury everywhere I looked during my trip.

A three-and-a-half-hour drive from my home in Denver takes me to one of the most expensive towns I've ever visited.

I've lived in New York City and traveled to some of the world's most expensive destinations, such as Paris or Zurich. Meanwhile, a trip to Aspen, Colorado, transformed my definition of luxury.

In Paris and New York, five-star hotels and Michelin-star restaurants coexist alongside $1 pizza and cheap crepe carts. Aspen — for the most part — lacks the latter. Instead, luxury hotels and pricey dinners were practically my only options during my five-day visit.  

Every day during my trip, I observed moments of opulence. Some I expected — yes, the mountain estates were shockingly grand, and the town's five-star hotel had glamorous amenities that attract celebrities like Britney Spears and Beyoncé.

There were also surprising moments of extravagance in everyday life. Even purchasing cannabis was a luxe experience. 

Sprawling mansions were the first indicator of Aspen's wealthy residents.
The Peak House on Red Mountain, nicknamed Billionaire Mountain, in Aspen, Colorado.
The Peak House in Aspen, Colorado.

Hart Houston/Compass

From the luxury real estate ads in the Aspen airport to views of mansions from the town's gondola, it was clear from the moment I arrived in the ski town that owning property in Aspen takes a lot of wealth.

In fact, Aspen is the most expensive ski town in the country, with an average weeklong vacation costing $5,330 for one traveler in 2023. 

Real estate is so pricey that a neighborhood was nicknamed after its billionaire homeowners.
Photos of the author and Red Mountain.
Photos of the author and Red Mountain.

Monica Humphries/Business Insider

Blocks away from Aspen's downtown is Red Mountain, a neighborhood known for residents that are so rich it's nicknamed "Billionaire Mountain."

I toured the neighborhood, where famous faces like Walmart heiress Ann Walton and the Bezos family owned property.

Along the drive, I also spotted one of the most expensive homes ever sold in Aspen — a $72.5-million property bought by Patrick Dovigi, a former professional hockey player and the founder and CEO of the waste management company Green for Life Environmental, according to Aspen Daily News.

As I crawled up the switchback mountain roads, the properties became larger, and the entrance gates grew grander. 

The multimillion-dollar homes I toured showcased ultra-luxe amenities.
Doug Leibinger pushes opened a door to a guest room at an Aspen property.
Doug Leibinger pushes opened a door to a guest room at an Aspen property.

Monica Humphries/Business Insider

I embarked on tours of five different mansions in Aspen with luxury real-estate agents Heidi Houston, Doug Leibinger, and Carrie Wells.

The homes ranged from $13 million to $51 million and came with extravagant features I could never imagine owning, like wet bars, indoor pools, and 12-car garages.

At the top of Billionaire Mountain, I toured a home with an indoor pool and a secret bedroom.
The Peak House on Red Mountain, nicknamed Billionaire Mountain, in Aspen, Colorado.
The Peak House on Red Mountain has an indoor pool.

Hart Houston/Compass

At the very top of Billionaire Mountain, I stopped at The Peak House, a 22,000-square-foot estate that sold for $40 million in 2022. 

The Peak House is the highest residence on Red Mountain and real-estate agent Heidi Houston pointed out features that earned the property its price tag. 

Beyond its sprawling size and grand views, the home had a wine cave, an enormous living room, and a 12-car garage. Plus, the estate also had its own set of uncommon additions. For example, there was an indoor pool and a secret bedroom built for the first owner's mistress.  

In the most expensive home I toured, I spotted an oxygen system to help combat altitude sickness.
The control panel to the home's oxygen system.
The control panel to the home's oxygen system.

Monica Humphries/Business Insider

Aspen Park is a 15,000-square-foot home five minutes away from downtown Aspen. The house sold for $51 million by real-estate agent Carrie Wells.

On a tour of the home, I spotted two elevators, 10 fireplaces, and a Lamborghini-themed garage. I also discovered unusually extravagant amenities throughout the house. For example, an oxygen system that pumps extra oxygen into the room was placed in the primary bedroom. Its goal is to mimic different sea levels and reduce the effects of altitude sickness, as Wells showed me during the tour. 

Beyond real estate, other experiences struck me as luxe. Even purchasing weed was a glamorous experience in Aspen.
Cannabis and Rolex watches are sold next to each other at Dalwhinnie Farms.
Cannabis and Rolex watches are sold next to each other at Dalwhinnie Farms.

Monica Humphries/Business Insider

Stepping into Dalwhinnie Farms, a dispensary in the heart of downtown Aspen, was the poshest cannabis-buying experience of my life.

Dalwhinnie's CEO, Brandon Barksdale, told me that the store was intentionally designed to cater to Aspen's elite. Within my first moments inside the store, I was greeted by scents of warm leather and views of crystal glassware sparkled from nearby shelves.

It's not just cannabis Dalwhinnie sells. Next to its display of edibles, flowers, and concentrates are Rolex watches, cashmere scarves, and jewelry with a $92,000 price tag. 

The town's hotels were also some of the country's finest five-star experiences.
The St. Regis Resort in Aspen, Colorado.
The St. Regis Resort in Aspen, Colorado.

Monica Humphries/Business Insider

Aspen was one of the first times I slept in five-star hotels. The experience didn't disappoint.  

At the time, for $848 a night, I stayed in The Little Nell, Aspen's only five-star and five-diamond hotel. It has welcomed celebrities like Britney Spears and Beyoncé. Later, during my trip, I spent $700 for a night at The St. Regis Aspen Resort. The St. Regis also has five stars and is known for rich and famous visitors like Kim Kardashian, Kanye West, and Paris Hilton.

With famous clientele and expensive rates came luxury offerings that made me feel a bit like a celebrity, too. 

The Little Nell had dog food on the room service menu.
Dog food was included on The Little Nell hotel's menu.
Dog food was included on The Little Nell hotel's menu.

Monica Humphries/Business Insider

I expected to see designer dogs playing fetch at the parks and lapdogs in Louis Vuitton purses, but I hadn't considered how hotels and restaurants would cater to pups.

At The Little Nell, for instance, dog owners could order the"Canine Delights Daily," which was served in dog-friendly bowls and included carrots, brown rice, scrambled eggs, and the owner's choice of protein. 

Workers at The Little Nell also woke up early to preheat hotel guests' ski boots.
The ski area at The Little Nell hotel in Aspen, Colorado.
The ski concierge at The Little Nell.

Monica Humphries/Business Insider

Most five-star hotels have a long list of amenities, but one of The Little Nell's biggest appeals is its ski-in/ski-out access and its own designated ski concierge.

The concierge will help guests coordinate ski lift tickets, rent gear, schedule ski school classes, and even preheat their ski boots each morning so they don't have to worry about cold feet. 

Both hotels gave guests access to a fleet of luxury vehicles.
Audi Q8 e-tron
Audi Q8 e-tron

Audi

I've stayed at hotels that had free airport shuttles on buses and vans, but I never had access to luxury cars at hotels. 

At The Little Nell, I had access to a free electric Audi Q8 e-tron car rental.

The St. Regis Hotel also had a daily Champagne-sabering ceremony.
A champagne-saber ceremony at the Chelsea Flower Show in London.
A champagne-saber ceremony at the Chelsea Flower Show in London.

Dinendra Haria/SOPA Images/LightRocket/Getty Images

To celebrate the transition from day to night, each evening, a saber was brought out to the courtyard for a dramatic Champagne popping. 

While I missed the ceremony on the first night, I happily accepted a glass of Champagne upon check-in. The ceremony felt overly grand for a daily ritual, but I'm also not one to complain about free bubbly. 

In town, water fountains and bike-sharing stations were covered for the cold weather.
Water fountain cover
An arrow points to the cover on a water fountain in Aspen.

Monica Humphries/Business Insider

Small things in Aspen felt like shocking luxuries that I've never seen in cities like New York or Denver, like covering water fountains and bike stations for inclement weather.

In Aspen during the winter, the bicycle rideshares were closed, the bikes were stored away, and plastic covers were placed on the docking stations.

The same went for the town's water fountains. Each water station in Aspen had a snug cover that protected it from the colder temps.

To me, it seemed like the city of Aspen cared about its infrastructure. In the summer, I imagine the town's resources would be up and functioning — unlike the broken water fountains I remember from my time in New York. 

 

There were no fast-food restaurants in sight.
The White House Tavern in Aspen, Colorado.
The White House Tavern in Aspen, Colorado.

Monica Humphries/Business Insider

Good luck finding a McDonald's, Chipotle, or Subway anywhere in or near Aspen. The quaint ski town takes pride in its upscale food scene, which doesn't include fast-food chains.

In fact, the town's one and only McDonald's closed its doors in 2016. 

The most casual restaurants I visited during my stay in Aspen were The White House Tavern, where sandwiches cost between $21 and $26 without fries, and a pizza shop that served $6 slices. 

Leather pants and Louis Vuitton purses were normal flight attire at Aspen's airport.
Attire was taken seriously at the Aspen/Pitkin County Airport.
Attire was taken seriously at the Aspen/Pitkin County Airport.

Monica Humphries/Business Insider

I arrived at the Aspen-Pitkin County Airport in jeans, a turtleneck, and a pullover sweater. This was much nicer than my typical airport attire of leggings and a T-shirt.

Yet I was by far the most underdressed traveler in the airport. In every corner of the small terminal, I noticed people with designer shopping bags and Louis Vuitton suitcases.

There weren't many name-brand snacks at the airport. My options were limited to $15 trail mix and marshmallow treats.
The snacks at the Aspen/Pitkin County Airport.
The snacks at the Aspen/Pitkin County Airport.

Monica Humphries/Business Insider

The airport had one eatery that sold warm food and snacks. Other than Coca-Cola products, Wrigley gum, and Flipz pretzels, there were few name brands. 

I spent about $8 on a pack of gum and a marshmallow treat. Although I'm used to airport food being overpriced, Aspen's airport set the bar even higher in terms of prices. 

At the food counter, travelers could order an $18 chicken cordon bleu sandwich, a $19 portobello rice bowl, or a $19 pork carnitas burrito. 

For snacks, options included a $15 bag of trail mix, caramel-flavored popcorn, and handmade marshmallow treats from The Crispery. 

After five days in Aspen, I tasted how the world's richest people live and vacation.
The author in Aspen, Colorado.
The author in Aspen, Colorado.

Monica Humphries/Business Insider

Between a home oxygen system and room-service dog food, by the time I landed home in Denver, I had cataloged new luxuries I never dreamed of.

Previous trips to New York City and Paris had moments of indulgence, but in Aspen, I embraced the town's extravagance the moment I arrived.

Read the original article on Business Insider

Among the Davos protesters: an heiress who gave away her fortune and says the rich 'hold too much power'

21 January 2025 at 06:46
German-Austrian heiress and social activist Marlene Engelhorn holds a sign reading "tax the rich!" during a rally
The German Austrian heiress Marlene Engelhorn also took part in protests at Davos in 2024.

FABRICE COFFRINI/AFP via Getty Images

  • Marlene Engelhorn joined protesters in Davos ahead of the World Economic Forum.
  • Engelhorn, heiress to a German fortune, has been a vocal advocate for taxing the superrich.
  • She told Business Insider why she is protesting against the World Economic Forum annual meeting.

Protests against the World Economic Forum in Davos began on Sunday, with the wealthy heiress of a German business empire among those participating.

As some of the wealthiest and most powerful people in the world gathered in Switzerland, hundreds of protesters blocked traffic, while others marched, holding signs with messages like "Economy for all" and "Tax the rich."

Marlene Engelhorn, who inherited a fortune as the descendant of a 19th-century German industrialist, was among those marching through Davos, calling for higher taxation on the superrich.

In an interview with Business Insider, Engelhorn said that Davos sees billionaires and entrepreneurs who can afford to be there talking to world leaders, while the people "who are going to be affected by the decisions" are left out of the conversations.

The rich, she said, "already hold too much power."

"The problem we are facing here is that this is called the World Economic Forum, but they hide away in the Swiss Alps, protected by the military and the police, in order to talk about things where no decisions are being made," she added.

Engelhorn's ancestor founded BASF, which would become the world's largest chemical producer.

She received an inheritance of about $27 million after her grandmother Traudl Engelhorn-Vechiatto died in September 2022. According to Forbes, Engelhorn-Vechiatto's net worth was $4.2 billion at the time of her death.

However, Engelhorn decided to redistribute her inheritance, sending out invitations to randomly selected Austrians to help her choose how best to share it.

Fifty people were chosen to decide how the bulk of the money would be spent, through an initiative called the "Good Council for Redistribution" (Guter Rat für Rückverteilung in German).

Last June, the group decided to distribute roughly $27 million to 77 charitable initiatives, including several women's shelter associations, children's charities, and climate crisis organizations.

The largest sum, of about $1.75 million, went to an environmental group. Other beneficiaries included the World Inequality Lab.

Engelhorn has advocated taxing people like her more heavily. Austria, for example, doesn't have an inheritance tax.

"I never worked for it," she told Le Monde in November 2022.

Engelhorn also took part in protests in Davos last year, and is the cofounder of a group called Tax Me Now, which lobbies for higher taxes on the superwealthy.

Pointing to the US, Engelhorn told BI: "We see what happens when wealth and politics become too intimate. The new government in the US, the cabinet, as it is presented as of now, shows up quite clearly. Thirteen of 25 people are billionaires."

President-elect Donald Trump's cabinet is expected to be the wealthiest in history.

"They're so far away from the actual population," Engelhorn said.

Correction: January 21, 2025 — This story was updated to clarify one of Marlene Engelhorn's positions. She supports inheritance taxes in Austria but is not calling for specific amounts of her inheritance to be taxed. She has separately pledged to give away at least 90% of her inheritance.

Read the original article on Business Insider

A therapist has worked with clients worth at least $30 million for a decade. He shares 4 problems the ultra-rich discuss in sessions.

14 January 2025 at 04:41
Illustration of a man staring at a dollar bill breaking apart
Paul Hokemeyer said there are a few common issues he sees among his ultrawealthy therapy clients.

rob dobi/Getty Images

  • Paul Hokemeyer has been a therapist to the ultra-rich for the last decade.
  • There are certain issues his clients experience because of their wealth, which he shared with Business Insider.
  • These include feeling valued only for their money and internalizing negative stereotypes.

A therapist to the ultra-rich shared what his clients talk about in sessions, from the wealthy father troubled by his children's entitlement to a man who feared leaving his home in case people asked him for money.

Paul Hokemeyer, a licensed marriage and family therapist who for 10 years has worked with clients with a net worth of at least $30 million, told Business Insider that his typical client is middle-aged and with inherited wealth. Only a handful of his clients have earned their own money because, in his experience, such people tend to feel more in control of their lives.

He previously told BI that ultra-rich people "suffer from the same mental health and relational issues as the rest of humanity."

But there are certain problems his wealthy clients talk about in therapy that are specific to their ultra-high net worth.

Feeling objectified

"The most common comments I hear from my clients are along the lines of 'people aren't interested in me, they are only interested in my money,' or 'my children are just waiting for me to die so they can get their hands on my money,'" Hokemeyer said.

"People of wealth are expected to provide. When they say no or create boundaries around what they are willing to give, they are perceived as villains," he said. The constant expectations on ultra-wealthy people can be exhausting and lead to painful, transactional relationships.

Hokemeyer gave the example of a father in his 80s whose adult children had spent their €40 million inheritances and expected him to continue to bankroll their extravagant lifestyles by taking money from their own children's inheritances. He started drinking heavily to manage the stress and the guilt he felt about his children's entitlement.

Hokemeyer helps clients address the sadness and disappointment they feel toward their relationships and create boundaries with people who rely on their financial support.

A man and woman sit far apart in a fancy apartment.
Wealth can cause problems in relationships, Hokemeyer said.

Johannes Mann/ Getty

Feeling isolated

"While providing material comfort, wealth and power elevates people into a very isolated and too frequently self-destructive sphere of existence," Hokemeyer said.

There are a tiny number of ultra-rich people in the world — about 627,000, BI previously reported — and they can feel excluded from the rest of society. Plus, dealing with constant demands from others can lead them to retreat from normal life, he said.

One of his clients with a huge fortune from manufacturing stopped going out because he felt constantly accosted by everyone, Hokemeyer said — even in his apartment building's elevators, where his neighbors kept asking for charity donations.

"Over time, he became severely depressed and morbidly obese. He came to see me after suffering a near-fatal heart attack and realizing he needed to make some significant changes to reconnect with other human beings," he said.

Substance abuse

Hokemeyer finds that people of wealth often suffer with substance abuse problems, because they have easy access to intoxicants and because they can use their resources to avoid negative consequences.

This means that clients tend to come to Hokemeyer for help when those consequences have become "dire," he said — when their health is severely compromised, they've lost a lot of money, or their spouse has left them, for example.

The path out of substance abuse can be tricky for these individuals too, because, being used to being in control, they often resist treatment.

Feeling vilified

From teachings in the New Testament and Buddhist beliefs to the popular phrase "eat the rich," Hokemeyer said that we are surrounded by images of wealth as a form of moral decay and wealthy people as selfish and corrupt.

Many of his patients internalize these negative stereotypes and feel they are bad people, he said. So he works with them to address any guilt or shame they feel about their net-worth and to develop personalized ideas of what is healthy, within the context of their wealth and social status.

Read the original article on Business Insider

Stylists share 7 items the rich and famous are actually wearing right now

15 January 2025 at 06:17
Shoes, a watch, and  a purse in various shapes
Stylists know what the rich are wearing these days.

Getty Images; iStock; Natalie Ammari/BI

  • Business Insider asked high-end stylists about the clothes and accessories the rich are wearing.
  • Tailored blazers and suits are extremely popular among wealthy clientele.
  • Accessories like luxury handbags and statement jewelry are also staples in many wardrobes.

Many of us know the big names in the high-end-design space, like Louis Vuitton and Gucci — but just knowing the brands isn't enough to build a fashionable wardrobe.

So Business Insider asked high-end stylists what their wealthy and celebrity clients reach for so we could determine which styles and accessories are in.

Tailored blazers never go out of style
older man sitting on a bench wearing a blazer and jeans with his feet on a skateboard
You can dress up a well-fitting blazer with a full suit or go more casual with a pair of jeans.

LightField Studios/Shutterstock

Kim Appelt, a personal and celebrity stylist, told BI that tailored, relaxed blazers are easy to throw on and wear effortlessly.

"This is the ultimate 'power casual' piece, delivering sophistication without being too formal," she said. "They work with everything from jeans to silk slip skirts, creating an understated, polished look that feels effortless."

Some popular styles are those from brands like The Row or Celine that have clean lines for a sharp, precise look.

Leather and suede pieces scream high-end
woman walking down a street wearing a leather trench and carrying a leather purse
Whether you're wearing a leather trench coat or a simple pair of gloves, the fabric has a luxury air.

Mauricio Santana/Getty Images

Desiree Miranda, a New York City stylist, a personal shopper, and the founder of Miranda New York, said many people opt for leather and suede pieces to elevate their looks.

"These pieces give off a feeling of prestige and status while also offering timeless style," she said. "When you find the perfect piece, whether it be a coat, pants, or a jacket, they will mold to your body over time, providing a unique and comfortable fit."

You can't go wrong with a classic pair of leather shoes
man sitting on the side of a building wearing a suit and leather boots
Leather boots typically last a long time and mold to your feet.

Alexander Image/Shutterstock

Leather shoes are versatile and go with both tailored and casual looks, making them ideal for everyday wear, the office, and more formal occasions.

"Timeless loafers, often penny styles from Hermès or Chanel, and sleek ankle-high leather boots are popular," Appelt told BI. "The quality leather softens beautifully over time, and because they never go out of style, they're the perfect fusion of comfort and class."

Monochromatic looks are chic
person wearing a neutral terracotta monochrome outfit
The most stylish monochromatic looks stick to neutral colors.

ShotPrime Studio/Shutterstock

Lindsey Bernay, a leading fashion expert, a stylist, and the author of "You Can't Leave the House Naked," told BI that monochromatic looks are luxe.

"Monochromatic looks signal luxury through subtlety," she said. "Wearing one color head to toe, especially in neutral tones, creates a sleek, sophisticated look that feels both fresh and timeless."

The stylist emphasized the use of clean lines and high-quality fabrics for an extra bit of posh elegance.

Structured, minimalistic handbags elevate any outfit
close up of someone carrying a green structured handbag
Big logos and prints can detract from the elegance of a purse.

photo-lime/Shutterstock

Appelt told BI that handbags with minimal branding, like the Hermès Picotin and the Bottega Veneta pouch, are in demand.

"The understated look is the new status symbol," she said. "This shift toward subtlety shows a confidence in one's style without needing to prove anything — it's the ultimate 'if you know, you know' vibe."

If the weather calls for knitwear, cashmere is best
woman posing on the street wearing a white outfit with a brown cashmere sweater ties around her shoulders
A cashmere sweater can elevate a fall or winter outfit.

Jeremy Moeller/Getty Images

Appelt said high-quality cashmere sweaters, cardigans, and turtlenecks in neutral tones are popular among rich clientele — especially when they're from brands like Loro Piana or Brunello Cucinelli.

"Cashmere lasts and gets softer over time, making it a true investment," she said.

The celebrity stylist said the knitwear is a good example of the influx of "quiet luxury" in the fashion world. They're well made and high quality while still being comfortable and low-key.

Bespoke jewelry stands out from the crowd
close up of someone wearing a high-end fashion outfit with a big gold cuff bracelet
Custom vintage jewelry is all the rage.

Edward Berthelot/Getty Images

Accessories can be just as important as clothing in high-end fashion, and Appelt said bespoke jewelry is in.

The trend can include customized pieces, like a gold signet ring, and vintage fare, like heirloom-quality earrings.

"There's a lean toward pieces that tell a story or have sentimental value rather than flashy logos," the stylist said. "Custom jewelry feels intimate and luxurious, especially in an age when personal expression is key."

Read the original article on Business Insider

10 celebrities you didn't know grew up super rich

2 January 2025 at 06:20
Bruce Paltrow, Blythe Danner, and Gwyneth Paltrow in 2002.
Bruce Paltrow, Blythe Danner, and Gwyneth Paltrow in 2002.

Gregg DeGuire/Getty Images

  • The families of celebrities like Anderson Cooper and King Princess have been rich for generations.
  • Some families, like the Gyllenhaals, became wealthy through the entertainment industry.
  • Others, like the Delevingnes, have connections to royals.

Many celebrities have built their wealth from the ground up, but some were born into luxury.

According to Altrata's recent World Ultra Wealth Report, the number of ultrawealthy individuals grew by 7.6% in 2023, with about a third residing in the US.

Among these wealthy families are celebrities like Anderson Cooper, Julia Louis-Dreyfus, and Nick Kroll, who have had access to vast wealth and opportunities from an early age. These stars were set up for success before stepping into the spotlight, which, in some cases, shaped their path to fame and fortune.

Here are 10 celebrities who were raised in extreme wealth before they became famous.

Nick Kroll
Jules B. Kroll, Nick Kroll and Lynn Kroll in 2016.
Nick Kroll, pictured with his parents, Jules B. Kroll and Lynn Kroll, in 2016, told The New Yorker he would be embarrassed when his dad would arrive at his games in a limousine.

Noam Galai/Getty Images

Kroll is an actor, comedian, writer, and producer known for Comedy Central's "The Kroll Show" and for creating and starring in Netflix's "Big Mouth" and "Human Resources," among other hit shows, but he's not the only success story in his family. 

His father, Jules Kroll, founded a corporate investigation company, Kroll Inc., which he sold in 2004 for almost $2 billion, Forbes reported in 2014.

Nick Kroll grew up in Westchester County, New York. In 2009, he told The New Yorker that he and his siblings had a relatively normal childhood. He also said that although he was grateful that his father made time for him despite his job, he felt embarrassed when Jules would arrive at his Little League games in a limousine.

Anderson Cooper
Anderson Cooper in 2022.
Anderson Cooper is a descendant of the Vanderbilt family.

ANGELA WEISS/Getty Images

Journalist and commentator Anderson Cooper is a direct descendant of the Vanderbilts, whom Britannica describes as "one of the wealthiest and most prominent families in the United States."

His great-great-great grandfather, Cornelius Vanderbilt, built his fortune primarily through investing in steamships and railroads. Upon his death in 1899, Cornelius had amassed $100 million — over $3 billion in today's money.

"He had more money than the US Treasury," Cooper told CBS in 2021.

Cooper's mother, Gloria Vanderbilt, grew up as an American socialite due to her family's status. She later became an artist, actor, designer, and author. She died in 2019.

His father, Wyatt Emory Cooper, was Vanderbilt's fourth husband. Before he died at the age of 50, he worked as an author and an actor.

Gwyneth Paltrow
Bruce Paltrow, Blythe Danner, and Gwyneth Paltrow in 2002.
Gwyneth Paltrow describes herself as "completely self-made" despite having been raised by parents in the entertainment industry.

Gregg DeGuire/Getty Images

Gwyneth Paltrow comes from a family of entertainment-industry natives. She spent her childhood at prestigious private schools in Los Angeles and New York City before dropping out of college to act.

Bruce Paltrow, her father, was a nine-time Emmy-nominated director and producer. His most notable titles include "St. Elsewhere" and "White Shadow." Meanwhile, her mother is Emmy- and Tony-winning actor Blythe Danner of "Meet the Parents," "Meet the Fockers," and "The Last Kiss."

Despite her parents' success, Paltrow refers to herself as "completely self-made." 

"People think, 'She's just a rich kid.' Until I was 18, I was. Then I was broke. I've never taken a dime off my parents. I'm completely self-made," she told Glamour in 2016.

Cara Delevingne
Cara Delevingne, Charles Delevingne, and Pandora Delevingne in 2014.
Cara Delevingne's family has ties to the royal family, thanks to her maternal grandmother, Janie Sheffield, who was a lady-in-waiting to Princess Margaret. Pictured here is Delevingne with her parents, Charles and Pandora Delevingne, in 2014.

David M. Benett/Getty Images

Supermodel and actor Cara Delevingne is the daughter of Charles Delevingne, a successful real-estate developer, and Pandora Delevingne, a socialite. Her paternal grandmother was a socialite, and her paternal grandfather was a notable lawyer and politician.

But that's not where it ends. According to Vogue, Cara's maternal grandfather, Sir Jocelyn Stevens, owned Queen magazine, which is now Harper's Bazaar. Further, her maternal grandmother, Janie Sheffield, was a lady-in-waiting to Princess Margaret, the sister of Queen Elizabeth II.

Julia Louis-Dreyfus
Julia Louis-Dreyfus and Gerard "William" Louis-Dreyfus in 2014.
William Louis-Dreyfus, actor Julia Louis-Dreyfus's father, was a businessman who was reportedly worth $3.4 billion at one point. Pictured here is Julia Louis-Dreyfus with her father in 2014.

Mike Pont/Getty Images

Julia Louis-Dreyfus is the great-great-granddaughter of Léopold Louis-Dreyfus, who founded the Louis Dreyfus Company, a merchant firm that deals primarily with agriculture, food, and shipping.

Her father, Gerard Louis-Dreyfus, eventually became chairman of the company. In 2006, about 10 years before his death, Forbes estimated his net worth to be $3.4 billion and named him the 200th richest billionaire in the world.

In 2018, the "Seinfeld" star told The New Yorker that her father's wealth is overestimated by the press and that she finds the term "billionaire heiress" to be "heinous."

Jake and Maggie Gyllenhaal
Maggie Gyllenhaal, Stephen Gyllenhaal, Naomi Foner, and Jake Gyllenhaal in 2005.
Jake and Maggie Gyllenhaal's parents were prominent figures in the entertainment industry. Pictured here are Maggie Gyllenhaal, Stephen Gyllenhaal, Naomi Foner, and Jake Gyllenhaal in 2005.

Donald Weber/Getty Images

Their father, Stephen Gyllenhaal, is an Emmy-winning director who has worked on films such as "Paris Trout," "Homegrown," and "A Dangerous Woman." Their mother, Naomi Foner Gyllenhaal, is an Academy Award-nominated, Golden Globe-winning screenwriter whose most notable film is "Running On Empty."

The Gyllenhaal siblings, Maggie and Jake, have had prolific careers since their costarring breakout roles in "Donnie Darko" in 2001.

In 2010, Jake told The Guardian, "My mother would say that there are people who have so much money who don't give any of it away, and there are other people who have much less money, who give more than the richest people in the world. It should all be about giving something back."

 

King Princess
King Princess in 2022.
King Princess' great-great-grandfather owned Macy's, and her father owns a well-known recording studio.

NBC/Getty Images

Pop artist King Princess — or Mikaela Mullaney Straus — is the great-great-grandchild of Isidor and Ida Straus.

Before the couple fell victim to the Titanic sinking, Isidor served as a member of the United States Congress and co-owned Macy's with his brother. Isidor and Ida Straus have been depicted in multiple movies and have a memorial garden in New York City.

In 2019, King Princess told Rolling Stone that she didn't inherit their money.

"They were very rich and Jewish, [but] I didn't inherit any of this money. It was a little frustrating, but whatever," she said.

The pop star's father, Oliver Straus, is also successful. He owns a recording studio in Brooklyn called Mission Sound, where world-famous bands like the Arctic Monkeys have recorded music.

Armie Hammer
Armie Hammer in 2019.
Actor Armie Hammer's great-grandfather, Armand, was an oil tycoon and, like his great-grandson, was a controversial figure.

Jeff Kravitz/Getty Images

Armand Hammer, Armie Hammer's grandfather, was an oil tycoon who managed Occidental Petroleum Corporation. According to Britannica, under Armand Hammer's leadership, Occidental went from the brink of bankruptcy to bringing in billions of dollars annually. In 1986, Forbes estimated Armand Hammer's net worth to be $200 million.

However, Armand Hammer's biographer, Neil Lyndon, referred to him as "the most satanic man of the second half of the 20th Century" and the "embodiment of sin [and] ruthless ego" in a 2022 docuseries, "House of Hammer."

"In terms of corrupting the political process, in terms of controlling people, and making them dance his tune, there is no comparison," said Lyndon.

Armie Hammer has also been mired in controversy. In 2021, multiple women accused him of sexual and emotional abuse. At the time, Armie said any interactions with his partners were consensual and denied the allegations. The Los Angeles Police Department investigated a claim of sexual assault but he was not charged. In 2023, he told Air Mail he'd been emotionally abusive to his accusers. 

Armie Hammer's fall from grace also appears to have impacted his wealth. In August 2024, he said he had to give up his truck because he couldn't afford gas.

Lana Del Rey
Lana Del Rey and Robert Grant in 2014.
Lana Del Rey's father, Robert Grant, founded a successful company, WebMediaProperties.com.

Marc Piasecki/Getty Images

Lana Del Rey, whose given name is Lizzy Grant, is the daughter of Rob Grant, the founder of WebMediaProperties.com. According to Who API, Grant's company operated 1,600 websites and owned about 800 domain names as of 2012.

A 2012 article in The Guardian by Paul Harris discusses how Lana Del Rey hid her real identity as she emerged as a star.

"People were suspicious of the way Grant's failed album, and all her social media websites appeared to have been scrubbed from the internet just before Del Rey appeared," Harris wrote. 

The same article also claims that her father backed her career when she was just starting out.

Grant released his first album, "Lost at Sea, " in June 2023. Although Del Rey has not commented on her father's success as a businessman, she has discussed his budding music career.

"This is either gonna be the beginning of something beautiful or take us all down," Del Rey said in Instagram comments in February last year, per Virgin Radio UK.

Nicola Peltz Beckham
Nelson Peltz, Elon Musk and Nicola Peltz Beckham attend the Premiere of "Lola" on February 03, 2024 in Los Angeles.
Nelson Peltz, Elon Musk, and Nicola Peltz Beckham at the Premiere of "Lola" on 3 February 2024 in Los Angeles.

Axelle/Bauer-Griffin/FilmMagic/Getty Images

Actor Nicola Peltz Beckham, who has appeared in TV shows like "Bates Motel" and "Welcome to Chippendales" and movies including "Transformers: Age of Extinction," married Brooklyn Beckham — son of Victoria and David Beckham — in 2022. But even before her wedding day, she was part of a high-profile family known for its influence in business and social circles.

She was born in 1995 to parents Claudia Heffner and Nelson Peltz in Westchester, New York — her father is the founder of the investment firm Trian Fund Management, which, according to Forbes, is worth $1.6 billion. 

She began her acting career in 2006 with the film "Deck the Halls," and, most recently, wrote, directed, and starred in the film "Lola," which received negative reviews from several prominent film critics. In the film, she starred as a stripper.

In a 2024 interview with WWD, Peltz Beckham acknowledged that she didn't have an unbringing like her character's.

"I wanted to write a story from a person's perspective and another point of view that was not my personal view and not my upbringing. I am an actress and my dream is to get to look at the world from different perspectives," she said.

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I visited 13 major European cities in 6 months. Here are 2 I can't wait to visit again and 2 I probably won't return to.

4 December 2024 at 04:04
Emily and her husband take a selfie in Amsterdam, with a canal and buildings behind them.
My husband and I spent six months moving around Europe.

Emily Pogue

  • I spent six months moving around Europe and visited 13 major cities along the way.
  • I was blown away by Edinburgh and Amsterdam and can't wait to return.
  • Though I enjoyed my time in Zurich and Cardiff, I'd like to explore other cities in the future.

During a six-month trip around Europe, I embraced the "slow travel" mindset, which encourages travelers to spend quality time in each destination they visit. This was important to me because I really wanted to get to know the places I was staying in.

I explored 13 major cities in countries including the UK, France, Germany, Switzerland, and the Netherlands.

Here are the two European cities I can't wait to visit again and the two I'm glad I checked off my bucket list.

I'm most excited to visit Edinburgh again.
Edinburgh Castle, located near the side of a cliff, at dusk.
Edinburgh is a beautiful medieval-feeling city.

Emily Pogue

If you're looking for a truly medieval-feeling city in the UK, you can't choose a better spot than the Scottish capital, Edinburgh.

I was mesmerized by the city's stunning mix of architectural styles, which makes the buildings appear larger than life. Most notably, Edinburgh Castle towers over the city and is visible from many different spots in town.

Edinburgh is also a treasure trove of history, whether it's Mary King's Close, a preserved 17th-century alley, or a whiskey tour in which I learned about the distinctive regional varieties of Scotch.

When the colder weather started getting to me, I was able to find a surprising number of hot-chocolate shops. I found that hot cocoa paired with a doughnut from one of the countless bakeries around town made for the perfect afternoon snack.

I can’t wait to explore more of Amsterdam.
A canal in Amsterdam, lined by houseboats, trees, cars, and buildings. There are pink and white flowers in a flower box in the foreground.
I love the layout of Amsterdam.

Emily Pogue

Amsterdam has a reputation as a party city, particularly its proclivity for marijuana and the Red Light District. Though Amsterdam is definitely a good place to have a great time, there is so much more to the city.

During my stay, I tried to avoid the tourist hot spots, favoring the local neighborhoods instead. One particularly enchanting walk along the canals led me to Foodhallen, a lively food market where I got to enjoy sushi, a corndog, and the Dutch snack of bitterballen — which can best be described as a deep-fried stew ball.

When I did venture to busier places, it was to tour the art and history museums. My favorites were the Van Gogh Museum and the Anne Frank House, which were each powerful and moving in their own right.

I also enjoyed how much the city's layout differed from the other European cities I visited. Bikes and boats reign supreme, which make for lovely ways to explore the city.

Though I enjoyed visiting Zurich, I'll probably skip it on my next trip to Switzerland.
Buildings in Zurich near a river on a partly-cloudy day.
Zurich was beautiful, but next time I'd like to explore other parts of Switzerland.

Emily Pogue

Zurich is a gorgeous city, and sitting on the banks of the lake with a plate of currywurst was a top-tier European experience for me.

Though I found the city to be expensive compared with the other places I visited, the main reason I wouldn't return is because of Zurich's enviable neighbors: the villages of the Swiss Alps.

In just a few hours, you can leave the urban environment and arrive in towns like Wengen and Mürren, which look straight out of a storybook.

Next time, I’ll visit other parts of Wales over Cardiff.
A castle with a flag on a greenery-covered hill.
One of the biggest reasons I wanted to visit Cardiff was to see the castle.

Emily Pogue

One of the main reasons I wanted to visit the capital of Wales was to tour Cardiff Castle, and the complex didn't disappoint. I learned about 2,000 years of history, from ancient ruling families to an underground bunker used in World War II.

But in my opinion, the rest of Cardiff wasn't quite as impressive.

Though I enjoyed the Victorian and Edwardian arcades (glass-roofed alleys with various shops), the city center felt a bit grungier than the others I visited because of some loose trash lying around. I also felt as if there weren't a ton of other activities to do in the vicinity.

But with 400 castles scattered throughout the country, I'll be sure to explore the more remote parts of Wales on my next visit.

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I'm an interior designer who works with high-profile clients. Here are 8 things the rich are putting in their homes right now.

27 November 2024 at 09:18
Ben Franklin sits on a linen armchair with a fancy end table.
Wealthy clients are asking for conversation pieces and sustainable materials in their homes.

Getty Images; Chelsea Jia Feng/BI

  • I'm an interior designer who's worked with wealthy clients with large budgets.
  • Lately, more clients have been asking me to include expensive conversation pieces in their homes.
  • My wealthy clients also gravitate toward eco-friendly materials and statement stones, like onyx.

As an interior designer, I always love working with clients to create spaces that showcase their personalities and values, no matter their budget. But recently, I've had the opportunity to peel back the curtain and see what the wealthy are asking for in their homes.

Over the past year, I've been working with high-profile clients — from influencers to a CEO — with large budgets. So, I feel like I have a front-row seat to the latest trends in luxury home decor.

Here's what the wealthy are currently loving in their homes.

Clients are constantly asking for conversation pieces.
A black table filled with items looking onto a beige fireplace filled with dried flowers and other plants
One client asked me to incorporate a 17th-century fireplace (not pictured) into their home.

Andreas von Einsiedel/Getty Images

This might sound odd, but some clients insist on incorporating seemingly random, vintage (and, in my opinion, extremely overpriced) items into their homes.

These pieces have ranged from a salvaged fireplace from a 17th-century home in France to a weathered wooden door from an abandoned Italian villa. But honestly, I'm all for it.

Having something interesting to talk about when people walk in never hurts. Imagine someone complimenting your fireplace and casually replying, "Thanks, I shipped it from France." Talk about a conversation starter.

Custom art is becoming more popular among my clients.
A bedroom with a bed with white and beige sheets, a beige couch, and several pieces of artwork on the wall
I love decorating spaces with custom art pieces.

Sammi Smith

I recently worked with clients who wanted art pieces that reflected their personalities.

Instead of picking something off the shelf, I made custom art that fit my clients' visions. Many of these pieces, which required large paintings or paper canvases, were very expensive to make.

Still, my clients loved being part of the creative journey, tweaking and perfecting their masterpieces until they felt just right. As a designer, seeing someone light up when they look at a one-of-a-kind piece hanging on their wall is fulfilling. 

Sustainability is definitely in.
Two dark-brown hanging lamps with LED lightbulbs and a window looking onto trees in the background
My wealthy clients have asked for eco-friendly items, like LED light bulbs, in their homes.

Ton Photographer 4289/Shutterstock

Many of my affluent clients search for materials that look stunning and are made with sustainability in mind — think energy-efficient lighting, reclaimed wood, and renewable-energy sources.

For example, I've recently sourced sustainably made mattresses for a bedroom and salvaged boards from a barn for a kitchen backsplash.

I believe the future of interior design, especially in luxury homes, will revolve around sustainability. Over the next few years, I expect more designers to ask questions like, "How can we reuse marble to give it a second life?"

Statement stones like onyx and exotic marbles are popular among clients.
A bathroom with a stone bathtub and a tiled wall with various shades of gray and textures
My clients love stone tiles and counters with bold colors and veins.

asbe/Getty Images

Gone are the days of plain countertops and all-white rooms that lack personality. Many of my high-end clients embrace bold statement stones like onyx and exotic marbles that showcase rich lines in the stone and make a striking impact.

Picture a kitchen with a stunning onyx backsplash or a bathroom countertop that elicits a "wow." Statement stones can elevate an ordinary space into something truly unique.

Custom-made furniture is definitely a favorite.
A gray couch with navy and white pillows next to a wall with a built-in shelf filled with baskets, books, and frames
I love perfectly sizing pieces of furniture to fit a space.

Sammi Smith

Custom-made furniture can be a game changer. I love the satisfaction of perfectly sizing a sofa to fit into a tricky corner or coordinating the trim on dining-room chairs with the fabric on a living-room couch.

Though custom pieces aren't essential — many of my favorite couches come from Ikea and other big-box stores — customizing furniture provides a chance to create unique items that reflect personal style and needs.

Clients who choose the custom-furniture route can select their preferred styles, source unique fabrics, and find ideal cushion fillings.

I've recently been incorporating ambient lighting into my clients' homes.
A headboard with two white pillows next to a sconce with a basket-weave lampshade and a small painting of a seaside scene
Ambient lighting can come from hidden LED strips or lamps that emit a soft glow.

Sammi Smith

Have you ever walked into a nice restaurant and noticed a cozy vibe from the lighting? Ambient lighting — soft, glowing light that usually serves as a room's primary source of illumination — instantly makes everything feel more inviting.

Lately, my clients with big budgets are asking for custom ambient lighting in every corner of their homes. These fixtures, which range from LED strips tucked away in architectural details to beautifully designed lamps that cast a warm glow, create a luxurious, relaxing atmosphere.

Organic mattresses seem to be all the rage.
A bedroom with a bed with white comforters and tan pillows, graphic artwork, and beige curtains looking onto a backyard filled with trees
Lately, I've been furnishing my clients' homes with organic mattresses.

Sammi Smith

Some mattresses contain polyurethane foam, which can emit chemicals known as volatile organic compounds. Some of these chemicals can be harmful, so lately, I've been furnishing my client's bedrooms with organic mattresses instead.

I recently stumbled upon Avocado Green Mattress, a company specializing in organic mattresses and luxury bedding. So far, I've used the brand's mattresses and furniture in two of my projects, and they've been a hit.

Linen materials are everywhere.
A room with a bed with a white comforter and pillows next to a white nightstand, a mirror, and a window with a blue and white linen curtain
I love linen because it feels luxurious and is versatile.

Sammi Smith

Luxurious linens are popping up everywhere, and honestly, I couldn't be more excited about it.

Linen has proved to be so much more than just a bedding essential. The fabric has an effortlessly luxurious aesthetic, has great breathability, and is versatile enough for furniture, bedding, and window treatments.

Imagine draping your windows with stunning linen curtains that filter light and add a chic touch to your living space. Or how about reupholstering an old chair with some high-quality linen? This fabric can easily give your space a fresh new personality.

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