If you live in the USA, you may be interested to know that, tonight, CNBC shows viewers how the top 0.001% live.
"Untold Wealth: The Rise of the Super Rich" premieres at 10p/1a ET on CNBC.
A few highlights of this program, include:
Who are the New Super Rich?
They are typically self-made, young and make their fortunes relatively quickly. The Super Rich are entrepreneurs, CEO’s, partners in hedge funds and private equity firms, and real estate developers.
The New Gilded Age
Largely through private equity and hedge funds, Wall Street has created wealth more quickly, dramatically, and controversially than ever before, fueling what’s been described as a “New Gilded Age.”
The Money They Spend
Even in the midst of of a painful economic slowdown, the luxury spending sector is going strong. The Super Rich live in a world of unmatched indulgence, where $10,000 a day vacation homes, $25,000 shoes and exclusive club memberships are commonplace.
Economics Professor Robert Frank explains the phenomenon of "middle class millionaires" - people like Mediabistro.com founder Laurel Touby, who sold her website for $23 million. She explains what it’s like to be merely rich instead of super rich.
Money can't buy everything and great wealth brings its share of burdens. New York psychiatrist Kerry Sulkowicz counsels CEO's, Wall Streeters and entrepreneurs on the complex consequences of extraordinary wealth.
Giving Away A Fortune
Over the next 50 years the wealthiest Americans will leave behind an estimated $27 trillion. Deciding whether to give it to the children – or charity – isn’t easy.
You can see further snippets of these program highlights, including mini videos, slide shows and the main program preview, at www.CNBC.com