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According to a recent report by the Los Angeles Mayor’s Council on Innovation and Industry, 23% of California’s millionaires live in the city of angels. Mayor Antonio Villaraigosa believes that Los Angeles needs to take advantage of the wealth in the city and expand and develop its high-tech industry.
The Internal Revenue Service released a report this week stating where American’s multi-millionaires live.
Longtime staffers of Facebook stand to benefit significantly from the recent announcement that social media site Facebook is going public. Silicon Valley’s real estate market is already preparing for the surge in millionaire buyers as a result.
Despite a massive economic slump, some of the nation’s wealthiest citizens are squabbling over a tiny stretch of pavement.
Indian Creek Village, the millionaires’ island just west of Surfside is a luxury island closed to the public. But the village’s attorney is make one aspect very public.
The privileged who reside on “millionaire’s row” in Malibu take pride in their exclusive beachfront properties, one of them going to the lengths of paying nonprofit Access for All $250,000 plus lawyers fees to remove a public beach access point near her home, which happens to be one of the selectively exlcusive parts of the California coast.
Benjamin Franklin once said, “Time is money.” This old adage certainly rings true for New York, the city that never sleeps. In fact, it was recently reported that The Empire State (pent)houses the most millionaires in the country. 2009 set a new bar for this statistic, as the percentage of millionaires located in the New York metropolitan area climbed a hefty 18.7% from 2008.
Wealthy people in China love watches, according to a survey by Hurun magazine, particularly watches by brands like Cartier and Patek Philippe.
For Chris Carel, owner of Brentwood-based luxury and exotic car club Fast Toys, speed is more than just the quickest way from point A to point B, it’s a feeling. A physical and elated feeling that he gets from nothing else. “Of course it’s physical, it’s pure adrenaline,” he says, “When you are driving a car really fast you are just sitting there but by the end of the ride you are completely exhausted and sweating. It’s something you experience physically.
Honda unveils the “HondaJet,” a high-end private plane expertly designed to tickle the fancies of millionaire flyers.