The Daily Costs of Living Like a Billionaire

The Daily Costs of Living Like a Billionaire

Be ready to pay up if you become a billionaire.

By Sylvie Tremblay January 7, 2021

Sure, you’ve admired the lifestyles of the rich and famous -- or the not-so-famous. But do you know how much it costs to live like them?

Not surprisingly, living a lavish lifestyle involves some serious spending, from super-sized housing bills to personal assistants and security. Although most billionaires stay pretty tight-lipped about their spending, the “99 percent”-ers can occasionally get a glimpse into their outrageous expenses.

Not surprisingly, your home will be among the largest costs -- especially if you’ve invested in a sprawling mansion worthy of a billionaire.

If you become a billionaire, your daily housing cost varies depending on the price of your home. But if you’ve invested in a home costing north of $100 million -- like billionaire Jeff Greene’s Beverly Hills mansion, listed for a reported $129 million -- you’ll be paying a fortune every single day.

Assuming you bought the home and put down a respectable 20 percent down payment, you’re looking at a mortgage worth $103.2 million. At an interest rate of 3.875 percent on a 30-year fixed rate mortgage, you’ll pay about $485,285 per month or around $16,176 per day.

Of course, you’ll also pay for property taxes, homeowners insurance and maintenance, pushing your housing costs up even further. You better keep earning those billions.

Fancy Car Costs: $411 or More Daily

Living a billionaire’s lifestyle means traveling in style -- and choosing the right car can be key to maintaining your brand image. As a billionaire, perhaps you’d invest in a luxury vehicle like a Ferrari or Bugatti.

On top of a large upfront price tag — a Bugatti Veyron cost approximately $3.2 million in California in 2014, according to Edmunds — you’ll also pay premium maintenance costs. A change of tires for the luxury car, which is needed after 2,500 miles, cost a reported $33,000, according to the website Secret Entourage. With other expenses such as insurance, taxes, service and more, you can expect to pay $150,000 a year to own this car.

Assuming you maintain your car with an annual tune-up and change your tires once a year, you’re looking at $411 per day in car maintenance — plus your lease, insurance, taxes and the cost of fuel.

Luxury Yacht Costs: Up To $5,890 Daily

That Bugatti might feel like a relative bargain compared to the cost of owning a yacht. Of course, there’s the upfront cost of building the boat, which doesn’t come cheap. Leonardo DiCaprio’s 450-foot "superyacht," for example, reportedly cost $200 million to build, according to the Daily Mail.

But your costs don’t end there. You’ll also have to pay to run, maintain and staff your yacht.

Those costs add up. The Daily Mail reported that fuel for a superyacht can add up to $400,000 per year. Docking costs a reported $350,000, and a full-time staff for a yacht can cost $1.4 million in wages annually.

For a fully staffed yacht, you’re looking at a daily cost of $5,890. If you’re cutting costs and foregoing the staff, your costs drop to $2,054 daily.

Entertaining Costs: Up To $82,191 Daily

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