There are roughly 295 450 people with at least 30 million dollars. Such individuals. How many thousand, four Hundred and Fifty people with at least 30 million dollars? Wait, what? such individuals refer to as ultra high net worth represent about 0.0037 of the human population. Yet they hold about a third 35 trillion dollars of the world's wealth.

Therefore, it's no wonder why a massive Global industry exists fully centered on supporting the pneumatic lifestyles of the world's wealthiest 295 000.. As with any socio-economic class, ultra high net worth individuals are more likely to socialize with other ultra high net worth individuals. yet intriguingly, the number of people earning and spending similarly to you goes down as your income goes up. Therefore, once you get to the top of the income scale, the scarcity of people like you stretches your social networks out to a global scale.

Through The Years This led to the creation of the informal, but remarkably systematized, so-called Billionaires Social Calendar. The year often starts on Saint Barts the traditional New Year's Eve spot for the wealth healthiest view. then February might include the Super Bowl and March. Skiing in Aspen or San Moritz.

Spring starts with a Masters Golf Tournament in Augusta Georgia. While May includes the cutoff film festival and the conveniently close Monaco Grand June's highlight is the Henley Royal Regatta In England August is the Venice Film Festival. while September often includes a return to Monaco for its yacht show, October is the freeze London art fair. November might include a trip down under for the Melbourne cup and finally the last major event of the year before Saint Barts of course is Art Basil Miami Beach These events are hardly about the events themselves.

Most wealthy attendees to Monaco's delivery hardly care about the racing, and its yasho is far more than a sales event for the vessels, but rather they serve as an exclusive space made available only to wealthy people who want to socialize with other wealthy people. Well, few go to all and each adapts the calendar to their preferences. Ultra wealthy individuals have often expressed a feeling of obligation to join the circuit in order to maintain their social standing. Wow.

Such pressure may have motivated Jeff Bezos for example, to start his 2022 as he did on a yacht off Saint Barts with his partner Lauren Sanchez thanks to publicly available aircraft transponder data. However, we're able to see what he did with the rest of his January Bezos's pair of G650 jets are too large for Saint Bart's short Runway So they waited on neighboring Saint Martin while the billionaire rang in the new Year. Then on, the first N271dv took off for the seven hour flight to Los Angeles to drop Sanchez off, while the other N758pb flew the next day to take Bezos directly home to Seattle. Over the next two weeks, both Jets regularly shuttled up and down the West Coast between Seattle and Burbank, presumably to take Bezos and Sanchez to visit each other on January 13th.

However, many of the Jets flew from Burbank to Maui, while the other flew from Seattle and stopped. We had LAX before continuing on to Maui, presumably carrying Sanchez and Bezos respectively to the Billionaire's new 78 million vacation home on the island. Then each jet returned to the mainland. Four days later, Bezos appeared to visit Sanchez again on the 23rd, then four days later flew directly to Washington DC Bezos still wants to just move then to one of his 80 houses Stone's the biggest home in the district, the largest newspaper in the city, and his company Amazon is constructing its second headquarters across the river in Crystal City Virginia So he was likely there for business, but finally, Bezos finished out the month by flying back to Burbank once again.

and he did all of this while threading the needle between highlights on the Billionaire's social calendar as just 11 days later, he flew down to La for the Super Bowl across January Bezos's lifestyle called for his G650s to fly 29 000 miles or 46 000 kilometers in total, which is roughly, well, I'm saying CO2 emissions. What are you going to do to make a twist about it? But we're gonna do a battle in Sydney four times to fuel this extent of travel. His Jets used about 24 838 gallons or 94 022 liters of fuel which can nobody complained about any CO2 emissions until Swift then they'll say actually I needed since Sarah kindergarten No I didn't shut up otherwise be used to propel the largest passenger aircraft in the world. Hey, excuse me I don't want to ruin the five extreme 100 passengers aboard suppose.

Listen. I just wanted to tell you that I have been in the hospital for a week and her streams have gotten me through the days. If we want to know what happened then I will have a part to Dunno. Travel is indicative of the way that market analysts think Ultra Luxury travel is heading.

You see two phenomena are crashing head on to each other to throw the industry into turmoil. First, more people are getting wealthy than ever as money is becoming increasingly Consolidated at the top, and second, merely wealthy people are traveling less frequently than in years past, but spending more than ever. Data indicate that prior to Covid, Americans spent an average of 4871 on a trip to Greece, but now it's all the way up to 6561. Oh my.

God Airline Executives Have also jubilantly noted that first in business class revenue is remarkably strong despite the continued weakness in the traditionally lucrative business travel segment. mostly thanks to Leisure travelers opting to pay the premium for more luxurious travel at a greater rate than ever in New York City The Ultra Luxury Hotel Market is said to be booming with all-time high prices and occupancy rates and new super premium properties opening faster than ever. Well, summer 2022 saw the opening of the highly anticipated among New York with the cheapest room starting at twenty six hundred dollars a night, but more regularly pricing in the three or four thousands. Five years ago.

the Iman's sister property, the Utah Desert Resort known as Amangiri started at 1400 a night, but these days that's doubled to twenty eight hundred dollars a night. And even with Dynamic pricing charging a hefty premium for the most attractive dates, plenty of nights are regularly sold out, even many months in advance. And of course, for those lucky enough to get a booking at Resorts like the Amangiri, they need a way to get there, so it's no wonder why 2021 saw an all-time record high number of private jet flights 3.3 million Globally, this tremendous growth was in large part enabled by the propagation of the on-demand charter business models up Netjets and XO have revolutionized the industry by simplifying one-off charters of private jets, which makes the means of travel far more achievable for the twice a year wealthy Leisure traveler. These private jets are serviced by fixed-based operators which is essentially act as private terminals for hire and these are also observing record traffic leading to more Fbos being developed which is pushing up prices for airport real estate and Hangers to an all-time high as well.

So as the industry has grown as large as ever, it's simultaneously more expensive than ever and more frustrating than ever to get access to a private jet essentially across the Ultra Luxury travel segment, there's a capacity crunch. More people than ever are willing to pay more for a night in a top Hotel than most do for a month of rent or more for a two-hour private flight than most pay for their cars. The pace of Industry growth is outmatched by the growth and demand for the segment. The incredible consequence is that the super wealthy have pushed the ultra wealthy out from their traditional stomping grounds.

There simply are not publicly available travel experiences expensive and exclusive enough for the wealthiest of the wealthiest anymore, so they're essentially turning to private everything. Yachts Fulfill this need well. They allow the Ultra Rich to travel on their own terms, bringing the quality of accommodations they expect to wherever they want to go largely regardless of outside demand, but where they want to go believe it or not and then just kind of bullying him I'm not kidding I Genuinely enjoy the waking up and doing the whole airport slash airplane experience. I Think it's a lot of fun though.

Even though I fly a decent amounts of I think it's chill I Think it's a cool experience, it's still largely dictated by that Billionaire's calendar. So each fall as the temperatures in the Med drop and the final summer events finish up, a maritime migration begins. Some of the surprise: the lengthy Transatlantic passage under their own power. and while most Yachts are capable of taking on most ocean Crossings, it's an expensive, impractical, and dangerous.

Endeavor That's why these exist yacht carrying ships. These ships work year round, connecting the world's yachting hot spots. But in the fall and spring, it's all about the Transatlantic migration. So at the end of that season, a deluge of vessels descend on yachting homes like a boat on a boat.

I Thought the whole point of a boat is it boats. Anyway, Italy and Palma De Mayarka Spain To load up on one of these vessels, their owner is paying up to one hundred thousand dollars for the convenience. Upon arrival in the Caribbean, their owners can once again access their Yachts providing convenient access to Winter events like Art Basel Miami and New Year's on St Barnes. As with every other segment of the industry, however, the superior industry is growing faster than ever.

Meaning what was previously a refuge from the constraints of land is finding itself increasingly stuck out at Sea. Take for instance, a berth at the Yacht Club to Monaco. First and foremost, foreign. This makes people spend money like them.

I Don't think this affects the general population. this just puts more money back in the economy, right? Taxes, Taxes. Money. did economy money.

In the industry, they're just spending it. Foremost, it'll cost you. During the summer season, a night will cost the shortest vessels 275 dollars. But if you'd like to dock the same boat during the Monaco Grand Prix the price skyrockets to over 16 and a half thousand dollars.

Navigate a small yacht through the entire ocean. Are you eating rice with your hands? You little weirdo? Yes, Even though they Dodge a taxes when it comes down to income, they're still highly Gonna Fly her private jet. While my McDonald's out of 3.3 million Jet flights a year, you're concentrating most of the American mind to get mad about Kylie Jenner and Taylor Swift about their Jets. If you were to root your energy properly, you would have a bunch of new new things.

So if I can fight against it and a bunch of new targets, you're just stupid that cares about reverse you. You're eat your paper straw, recycle your bottle, and glaze my donut you ass to get one of the few spots that can fit the largest 60 or 70 meter vessels. It'll cost 73 000 a night, but even then, the clubhouse building blocks the view of the track. so to actually see the race.

this fee includes access for two to the building itself. but cost is hardly the issue here. Rather, it's club membership which requires that you were first sponsored by a member, then approved by the admissions committee once in to secure a spot during the med season. birth reservations have to be booked months in advance, but for the only event that parallels the Grand Prix in exclusivity, the yacht show.

just getting a birth is only half the battle when showing your super yacht off to other attendees. The best spot to dock is here across the way, so onlookers can take in the full profile. The Vessel rather than just its rear. But getting these spots requires first that the yacht is too long to fit in a traditional spot and that you or your captain has a strong relationship with the event directors.

relationships that take years to form. Navigating these busy Waters is an expensive pain. Super yacht ownership in general is an expensive pain. Yachts Don't generally get someone from one place to the next efficiently at all on the open ocean.

They're generally unpleasant rides and yearly costs generally average. These things are crazy for like a like this is. there's like super boats, right? and they don't even boat they. Camp Then they get out another boat they sell across the ocean again.

This is just a floating house that they move around the world without actually floating it and boating it around 10 of the boat's value. Yet across is a super boat that never boats. They never both matter board, no matter the length. Sales only continue to rise anecdotally.

So why build like a boat then a bit like a house? The deals cut on the decks of these Behemoth boats and the valuable relationships curated at Yacht Club bars are said to make the investment worth it. No, as one new yacht owner told a New Yorker quote, one deal secured on board will pay it all back many times over. So Chad hold up one second. We cannot be taking economic advice from the guy who would pay someone as little as possible and if they don't like it, they are fired.

Actual dictator Omega Lul Well, it's called capitalism Man, it is what it isn't. sorry for the delay hospital if I But here is two. So a lot of days ago I had a really bad fall. oh my.

God having to be amputated your strings have been really helpful in my recovery days. and I want to say thank you Xqcl as soon as what? 10 bucks? So then I paid in 10 bucks. So right if they complain them, they're fired. Oh, increasingly, the yacht is now perceived as a necessary component of the billionaire social calendar meaning the same way the wealthiest few are feeling about private Aviation and Ultra Luxury hotels now extends the yachting world as well.

In response, the ultra wealthy are getting more creative over the past five years. Just as overall sales and super yacht builds have risen, the number of Super Yachts over 40 meters being refitted has nearly doubled. More often than not, much spent enough to buy a yacht just to lose game after game in. FIFA Now yo eating plain white rice with your bare hands while lecturing children on the internet about how to spend money.

goofy a streamer and your alterations sometimes though, which reflects a growing Trend the rise of the Expedition yacht with traditional Waters busier than ever and the experiential economy as big as ever billionaires are rebuilding and buying super Yachts Capable of taking on more adventurous trips yet sojourns into the Arctic or lengthy remote prowls across the Pacific at the extreme end Jam My My Philosophy isn't eat the red jump. This is like some this is like a very low IQ Peasants take him. My take is scam the rich. Don't eat them.

What do you do with that? Then you get one meal. What's the whole point of that? Scan them, scan. increase the prices on all these big luxuries, right to the point where they just get scammed one by this piece of art. It's it's 10 mil.

Boom Everybody gets scammed. push the weapon downwards. when is a former? The problem is that guys. the problem is okay.

they're not spending. Yeah, it's not even a super taken. The problem is that they're very rich. you guys.

Even if you look at me okay, we talk about these. some of these guys. These guys I'm poor to these people. I Mean they're rich, rich, they're hoarding money.

It's like they have. No they could have blocks of pure gold like dude, they're like massively Rich and all the major sitting there doing nothing. They have to spend it so it goes back into the economy it they have. They have to spend it.

It creates jobs, income. everybody wins, but the problem is, they're not spending it. So a lot of people get mad when they go. let go.

What the? They bought a 20 mil car So dumb. Why would you do that? That's so stupid. Who do you think got that money? The people who make the car, build it, who paint it, make the parts, assemble it. That's where the money is going in.

So you should say yes, it waste money. Yes, Qcl waste money. poke. Championship Because because they're wasting their money, they're getting scammed.

You have, they had to like scammed more. Soviet Icebreaker Now rebuilt as an equally tough and luxurious Expedition yacht called Legend on the other. Who isn't that that works? That is how that works. That is quite literally how that works up.

They had to spend it. We have to scan. That's the way to do it. Other experiential yachting firms have popped down.

Battery World War II battle simulations in the Pacific for poor kids or set up temporary restaurants on sandbars in the middle of the Maldives The trend towards exploration and Expedition isn't just a super yacht thing either. At the same time that increasingly numerous millionaires are pushing the ultra wealthy away from their old stops, the interest in and social value of unique experiences is pulling billionaires to Services offering one-of-a-kind Adventures From up close gorilla safaris in Rwanda to Luxurious Overland treks to the South Even if they get paid, they're cheaper, It still creates a job. Believe it or not. Okay, one of the big things is making and maintaining jobs.

A lot of people are out of a job. I Get it. It's not the ideal that people are paid are being paid more. That's the ideal.

The ideal is that people that have jobs are paid more of dude people need to work Man like. what the creating jobs isn't is important, it's a it's part it's bro. Where did the big selling points are for for presidents these days? What was the big arguments when they go to the Senate to make arguments? Oh, we're gonna create a job spray this great job. Otherwise, creating jobs.

It's true though. Creating jobs yo South Pole These little Expeditions as they're called are individually curated by companies like Brown and Hudson to push their guests through Bear Grylls like experiences. Their goal is that the trip in their words to seared into the participants memory. and if the extreme Outdoors isn't available to live a few days like someone else entirely or go off on a globetrotting grand tour for the ultra wealthy, the options are really as long as this leader said one.

Representatives Bespoke traveling for the billionaire class is booming, then the companies spend on stuff and then it goes down. It's trickle down. It Actually, it makes sense though. The dude did it trickle down.

The it does make sense that they spend on these big companies. They spend all smoke, all small companies and it just works like do you think that 2020. stays at the top and as long as the traveler gets a good story out of the experience, with the ability to brag about visiting the salar Yandi desert in Bolivia or the most rural reaches of Sudan before any of their friends, they'll keep paying well into the hundreds of thousands for it the true top of the month? don't know about yet. Increasingly wealthy people are traveling to bridge the problem is either.

persons response. All the wealthy people are increasingly traveled to disappear reflected in the records to their advantage while the collect Ed if the government wasn't so corrupt, they weren't so stupid. Okay, nobody gives a only people Yeah, that should care right? Other people that can do something about things and problems which are the very very rich billionaires if they cared about stuff but would actually work. but it's for the opposite there.

they only give it themselves and further in their interests, everything happens is that now they delegate all these tasks of carrying it unto you. The person can afford it and now who drinks it from the paper? Swap these guys. You think it's them. It's you.

40 and 50 million dollar vacation homes in places we don't have a great sense of the ins and outs of the most expensive travel experiences because the secrecy is part of the premium. Itself by the time we do, the top of the wealth pyramid will have moved on to something else. Are we staying one step ahead of the merely wealthy? If you want to learn more about the yachting world and specifically how Builders are managing to design ever larger and more luxurious? Yachts I'd Recommend checking out this episode of the show Ultimate Processes on Curiosity Stream. Tens of thousands of Wendover viewers are already subscribed to Curiosity Stream, but for those of you who aren't yet, the good news is that it's actually a really good deal when signing up through our link because that also gets you access to Nebula for free.

Nebula is a streaming site founded by myself and a bunch of other creators that Wendover viewers likely already watch, and as a Creator owned and operated platform, it was designed from the ground up to be the best home to the stuff we make Huge. What's Irrelevant This is like basic macroeconomics. Okay I feel like them? unless I'm wrong across the board. The problem is is that in theory, in theory I'm wrong.

Okay, I'm wrong. um. capitalism and uh, system should work. problem is that they don't uh um um I I Don't get into Super politics again I don't get much.

The reality is is that I think you have to think about it. The billionaires are buy out all the Busters right that make the laws that secure the system right and everything is so stupid right. It's that it is. It's it.

I Felt like a Doomer but it is so bad it's so incredibly bad. All the measures they're like in place of like oh dude, oh dude. um made it look like this man I did it recycle? This was like all that did it. It just didn't skew all the laws and and all the regulations around like production or whatever the bro you did.

You wouldn't have to even a singular paper straw at any time. They could fix that shift in a half second. but they don't don't They'll give a up. What? Dude, Why could they care? They got bits of dollars and they can spend like point zero zero to presented to lobby and that and change laws for them to do this.

Ten times worse. like nobody gives a up I was controversial Escape Imagine the only people that care or have to care are the ones that can't afford to. It's insane yo. this is X x on the beat yo I'm going through my voice as well that is Anyone knows that boy I Don't know.

He's just so sorry. anyone knows that boy I Don't know, He's just so sorry.