Kind of hard to believe this isn’t a game show yet.
“Credit Suisse estimates that worldwide there are 98,700 ‘ultra-high net worth individuals,’ or people worth $50 million or more. Almost half of them live in the United States.” 100,000 is a lot of ultra high net worth individuals! And half of them are here! 50,000! I mean that just seems like a lot. It seems like I could run into one of them. Maybe tonight. They could be anywhere. They could be reading this right now. Hi.
In the Times, Jim Rutenberg has a profile of Joe Farrell, the largest real estate developer in the Hamptons who builds mansions and is described as being like Donald Trump, but “without the history of debt, the lush hair or the insults”. Farrell owns a 17,000-square-foot mansion called the Sandcastle that has two bowling lanes, a skate ramp, and a regularly stocked ATM machine with $20,000 in it “just for fun.” Jay Z and Beyoncé rented his house for $500,000 last summer—for two weeks.