Text | andrea murphy
From thoroughbreds and Steinway pianos, to caviar and opera tickets, the cost of living for American billionaires is getting higher;Over the past 40 years, the cost of ultra-luxury living has grown faster than inflation, with the only constants being the $1,250 an hour for attorneys discussing estate planning and the $20 subscription for Forbes.
***slim aarons/hulton archive/getty images
The cost of living a life of luxury has been constant**. For more than 40 years, Forbes has been tracking a basket of ultra-luxury goods and services to calculate our annual Cost of Living Extremely Well Index (CLEWI), a barometer of billionaire lifestyles. This year, the index is up 49%, down from 5 in the last 40 yearsAn average annual increase of 1%, but higher than the U.S. Consumer Index of 3 over the past yearA 2% increase. Compared to the last two years, the growth rate has slowed down significantly: Clewi grew by 7% in 2022 and 101%。
Of course, many luxury lifestyle facilities have risen much higher than average. Maryland's Ridgewells Restaurant Company served a three-course dinner for 40 people by 9% from a year ago. Susan Lack, CEO of Ridgewells, said that food*** and rising labor and transportation costs are the causes. A dozen custom cotton shirts from Turnbull &Asser, London, were $10,020, or 7 percent. For the 11th year in a row**, the cost of an Olympic pool rose 6% to $4.8 million. On New York's Upper East Side, a psychiatrist costs $500 per 45 minutes, or 5%.
Here's the good news: not everything has gone up. The hourly wage for a partner at a law firm in New York City discussing estate planning has remained unchanged at $1,250.
But there is no need to worry about the richest people in the United States, who are more than capable of affording a luxurious lifestyle. The average net worth of members of the Forbes America's 400 list increased by 13% from last year to $11.3 billion, three times the increase of Clew. Here's a breakdown of the index.
Entertainment and toys
Opera. $5880 | 2.1%
Two tickets for the Metropolitan Opera Center's premium seat Saturday night show, New York.
***bettmann/getty images
Piano. 21.$730,000 | 9.5%
Steinway & Sons D** Ebony Piano, New York.
***steinway & sons
Motor yachts. $63 million| 21.2%
Amels 60, Netherlands.
Yacht. 311.$50,000 | 7.4%
Oyster 595 yacht, UK.
oyster 595 "jupiter"Yacht in Mallorca, Spain. **oyster yachts
Hunting shotguns.
$340,880 | 17.3%
A pair of James Purdey & Sons 12 caliber side-by-side shotguns, Griffin & Howe, New Jersey.
***griffin & howe
Thoroughbreds. $517,314 | 1.2%
The average price of a yearling pony sold in September at Keeneland Racecourse, Kentucky.
September 2023 Keinlan Racecourse Yearling Auction No. 92. **keeneland
Train toys. $250 | 0%
Thomas the Train toy Christmas set with Bluetooth, North Carolina.
Cigar. $1020 | 8.2%
David Du's father dominican aniversario double'r'Cigar, New York.
Actor and comedian George Burns with actress and singer Dinah Shore at the American Motion Picture Producers Guild's Annual Milestone Awards dinner at the Beverly Hills Beverly Hilton. **corbis/getty images
Magazine. $20 | 0%
Forbes One-Year Subscription Fee, New York.
December 23 - January 24 Forbes cover. **forbes
Fashionable
Necklace. 11.$90,000 | *
Van Cleef & Arpels vintage Alhambra long necklace in 18k white gold with diamonds, France.
On December 12, 2023, on Place Vendôme in Paris, France, the Van Cleef & Arpels store is illuminated and decorated with a Christmas tree during Christmas and New Year celebrations. **edward berthelot/getty images
Shoes. $6523 | 10%
John Lobb custom men's black calfskin wingtip shoes, UK.
John Loeb shoes. **john lobb
Clothes. $4700 |**
Gucci black wool and silk dress, Italy.
***gucci
Shirt. $10202 | 7.1%
Turnbull & Asser 12-piece tailored cotton shirt, UK.
Loafers. $920 | 3.4%
Gucci Horsebit leather loafers, Italy.
***gucci
Perfume. $355 | 2.9%
1 oz Chanel No. 5 perfume, France.
In the late 1950s, American photographer Weegee (1899 - 1968) photographed a montage of a woman in a bathing suit in a Chanel No. 5 cologne**. arthur fellig/international center of photography/getty images
Watches. 2.$780,000 | 4.5%
Audemars Piguet's Royal Oak watch with stainless steel case and bracelet, Switzerland.
Audemars Piguet Royal Oak "Jumbo" ultra-thin watch. **audemars piguet
Handbag. $10,200 | 2%
Chanel black distressed calfskin with gold hardware maxi 255 handbags, France.
Food
Dinner is prepared by a special staff.
$13,320 | 9.2%
Three-course dinner for 40 people at Ridgewells Restaurant, Maryland, USA.
***ridgewells
Caviar. $12980 | 1%
Petrossian Premium Reserve Osetra Caviar, California and New York, USA.
***petrossian
Champagne. 2792.US$94 |New.
Case of Astor Wine & Spirits 2008 Kruger Dry Champagne, New York.
***floortje/eplus/getty image
Grilled tenderloin steak.
US$1120 | 0%
7 pounds of grilled tenderloin at Lobel's Restaurant, New York.
***kirk mckoy/los angeles times/getty images
Dinner. US$480 |New.
Le Bernadin tasting menu for one person, wine pairing (gratuities not included), New York.
***daniel krieger
Home
Fresh flowers. 1.$140,000 | 12%
Jerome Flower Shop, seasonal flower arrangement for 6 rooms per month, New York.
***dag sundberg/image bank/getty images
Sheets. $3700 | 5%
Frette extra-large cotton satin sheets, Italy.
***onurdongel/eplus/getty images
Sterling silver cutlery. $13980 | 0%
Georg Jensen Acorn Pattern 5-Piece Dinner Set for 12 Persons, Denmark.
Sauna. $24,250 | 12.9%
8 10 7 feet, Nordic Spruce Sauna for 8 people, Minnesota, USA.
***sauna360
Swimming pool. $4.76 million | 5.8%
California Mission Olympic-size swimming pool.
American writer Cz.Geist (1920 – 2003) and her son Alexander Michael Douglas Dudley Geist in front of the Greek Temple pool in the seaside villa of Artemis Villa in Palm Beach. **slim aarons/getty images
Tennis court. $63,785 | 9.1%
Putnam Tennis & Recreation Center, Connecticut.
Il Pellicano tennis court in Porto El Cor, Tuscany, August 1980. **slim aarons/hulton archive/getty images
services
Secondary school. $59,995 | 0%
Tuition and room and board for one year at the Groton School in Massachusetts.
***groton school
University. $83,570 | 3.4%
Tuition, room and board, fees, and insurance for one year at Harvard University, Massachusetts.
Harvard's Lefleet House is built along the Charles River in Cambridge, Massachusetts. **rose lincoln/harvard staff photographer
Facial lift. $100,000 |New.
Experienced plastic surgeon, New York.
***peopleimages / getty images
Co-hosts. $380,000 | 0%
New York Anglo-American Housekeeping Company San Francisco Area Minimum Wage.
***eplus / getty images
Psychiatrist.
$500 | 5.3%
45-minute consultation with a psychiatrist, Upper East Side, New York.
Lawyer. $1250 | 0%
Schlesinger Lazetera & Aucincloss charges an hourly estate planning fee, New York.
Spa. 1.$10,000 | 5.3%
Spa charges weekly, Golden Gate, California.
***tanveer badal photography
Travel
Hotel. $7764 | 4.2%
Park Suite, Carlisle New York.
* Park Suite. **the carlyle hotel
Private Jets. $75 million| 0%
Bombardier IncGlobal 7500, Standard Equipment, Canada.
***global 7500 photo courtesy of bombardier.
Concierge service. $180,000 | 0%
One-year customized membership to Pure Entertainment Group Canada.
Cart. 58.$30,000 | 7%
2021 Rolls-Royce Phantom Extended Wheelbase Edition, UK.
***rolls royce
Bag. $2570 | 0%
Louis Vuitton Keepall Bandouliere 55 bag with strap, France.
***louis vuitton
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