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The COVID-19 pandemic has left many jobless, homeless, and hopeless.

But despite its massive toll on the economy, the super-rich have only been getting richer.

The world’s richest people added $1,8 trillion to their collective fortune last year, according to the Bloomberg Billionaires Index.

Cue massive spending and carefree splurging.

While average folk all over are probably deciding whether to invest in an ergonomic home-office set up so that they can make a living without breaking their backs, the wealthy are deciding which luxury vehicle they need to comfortably get away from everything.

The wealthiest folk (or more formally, ultra-high-net-worth individuals (UHNWIs)) want and can have everything from several hundred-metre sea vessels to Narnia treehouses.

But the biggest post-lockdown toy, as we may know, has got to be the superyacht.

Jeff Bezos seems to have led the way with his $500 million, 127-metre beast – so big it will need its own ‘support yacht’ with a helipad.

Following from this, via The Telegraph, 354 vessels, which cost up to £430 million to build, were sold by superyacht manufacturer Cecil Wright & Partners in the past year.

What’s more, superyacht sales in Britain are up 43% compared to this time last year.

While tons of people were panic buying toilet paper and food supplies, apparently the super-rich were panic buying Arksen marine exploration vessels, which are safe and robust luxury cruisers at the mighty price of £8,5 million.

Arksen’s chairman, Jasper Smith, has seen an 88% increase in enquiries this year:

“Now, more than ever, the ultra wealthy want to know they can escape on a far-flung adventure at any given moment,” he explains.

Helicopters and electric performance cars are also being grabbed by many UHNWIs.

Better yet, to really fuel their desire for eco-wanderlust, many are signing up for sustainable shared ownership schemes, like Net Jets, or planes that use 60% less fuel, like the Dassault Falcon 6X.

 

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Let’s not forget the luxury getaways and ultra-exclusive resorts.

UHNWIs are escaping to places like Lopud 1483 in Croatia, a renovated monastery that sleeps 10 and rents for £70 000 per week.

There’s also Deplar Farm, a luxurious heli-skiing and salmon fishing retreat in Northern Iceland.

 

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While a lot of people developed intense anxiety about venturing outside and seeing others, UHNWIs are tired of the lack of socialising:

“I want to ditch my cashmere leisure wear and stop feeling as if I’m stuck on an island with my family – so please no private yachts, no Indian Ocean islands or Swiss wellness retreats,” pleaded one member of TownhouseConcierge.

“I want to feel alive again, which means wearing my Tom Ford suit, hosting parties and meeting as many new people as possible.”

This is the kind of sentiment that is making London’s most exclusive dining places book out in mere moments.

For those more interested in being home, there is a frenzy for country estates, especially in Britain.

Property finder, Jess Simpson, is receiving three enquiries a day from buyers looking for country estates over £10 million.

Additionally, many Brits are obsessed with Scotland, grabbing sporting estates with castles to entertain friends and family in the wilderness.

Of course, beach houses and vineyards are not being forgotten:

“Vineyards for private use are becoming increasingly popular and some ultra-wealthy buyers have even established oak plantations with trees impregnated with truffles,” adds Simpson.

UHNWIs are also investing in significant art and interior pieces:

Baird Allis, a 40-year-old corporate lawyer, is buying up Dutch golden age paintings because they “make him smile”.

Homes are becoming extravagant beyond measure:

“Wealthy clients want meditation rooms, vitamin C showers and enormous dressing rooms to with space to display their luxury handbags,” says Louisa Brodie of Banda, the property company run by Princess Beatrice’s husband, Edo Mapelli Mozzi.

Vitamin D chambers, therapy and convalescent suites and medical grade HEPA air filters are also a must. Golf and tennis simulators are obligatory too, as is a climate-controlled garage.

The lockdown has given us all a much deeper appreciation for nature, and while most of us are going hiking more often, the wealthy are buying woodlands, employing full-time foresters, and commissioning bespoke Narnia-style treehouses from Blue Forest.

 

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Someone needs to tell all these rich folk that spending more is not the way to be sustainable, or reasonable, for that matter.

[source:telegraph]