Collecting art
Cost - $300M
Collecting art implies huge costs because of high prices for famous artworks. For instance, a Gauguin painting has been recently sold for a record sum of $300 million.
Collecting vintage cars
Cost - $16M
Any vintage car collector wants to have an auto with an interesting story, the auto that will tell a few things about its owner. It is quite a pricey hobby too. Most rich people who collect vintage cars consider them to be equal to artworks. The most expensive car sold publicly was a 1957 Ferrari 250 Testa Rossa with the final sale price of $16.4 million.
Yachting
Cost - $8M-$10M
Yacht racing or renting is one of the most high-priced hobbies. Yacht racing is favored by multimillionaires and billionaires. A yacht costs about $8-10 million let alone her maintenance. Most wealthy people buy two yachts at a time in case of a wreck of one of them.
Keeping exotic pets
Cost – from $150K
The rich often are quite into exotic things, pets in particular. Sometimes, wealthy people do not find it amusing to keep a simple cat or dog so they opt for exotic animals such as cheetah, monkey, and octopus. Famous Hollywood actor Nicolas Cage bought the latter for $150,000. The cost of caring and feeding the pets can also surge to several thousand dollars.
Sky Diving
Cost – from $150-$250
Not everyone is ready to go through such experience as sky diving. However, some acquire a taste for it and look for extreme regularly. One jump costs about $150.
Aviation
Value – from $21K to $206K
Purchasing a plane is, without doubts, a costly thing. The cheapest plane is worth about $15,000; and the most expensive, around $200,000. Attending aviation classes also costs money (from $7,000). The price rises with a person willing to upgrade their qualification and obtain a license to pilot other plane types.
Car racing
Cost – from $10K to $100K
Car racing is a pricey and risky hobby. Large amounts of money are spent on up-to-date and safe equipment. A racing auto costs from $10,000 to $100,000. A car-racer should also purchase a life insurance that makes up about $566.34 a month.
Travelling
Cost - $20K - $30K a year
Sometimes it is hard to estimate a journey's expenditure as travelling to other continents may turn out to be either lavish or cut-price. It depends on accommodation conditions, ways of travelling, and dining options. On average, a long journey may total $20,000 - $30,000 in value.
Navigating radio control airplanes
Cost – from $700
Among other expensive hobbies, radio control airplanes do not look as costly. This hobby requires mastered skills and creativity. At least $700 is needed to develop and make such an airplane. The money goes on construction details. An enthusiast can buy a ready-made airplane for around $100 - $200.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
Analytical periodical US News and World Report has presented its ranking of the best countries in the world in terms of quality of life, based on a survey of nearly 17,000 people. The list considers factors such as economic and political stability, a strong labor market, income equality, family-friendliness, safety, the quality of education, and healthcare systems. Let's find out which countries made it to the top of this list.
