If You Had A $1 Billion Net Worth, What Would You Own?

[Owen]

I created a topic like this but about if someone rich came on, and TurboGuy said something and it gave me the idea to create a thread specifically for the topic. If you had $1 billion worth of cash/assets, what would you own or buy?

Here are my choices:
A car collection of about 8+ cars (muscle and sports cars)
A house in Mass or New York:
NEW YORK: N/c Betsy Ross Ct, S.setauket, NY 11720 | MLS #2828653 | Zillow (http://www.zillow.com/homedetails/N-c-Betsy-Ross-Ct-S-setauket-NY-11720/2099614652_zpid/)
MASSACHUSETTS: 440 Concord Rd, Bedford, MA 01730 | MLS #71953211 | Zillow (http://www.zillow.com/homedetails/440-Concord-Rd-Bedford-MA-01730/57049104_zpid/) PREFERRED

I'd probably own a yacht and a small home in Florida for fun. Who cares, I'm filthy stinkin' rich :D

What would you guys buy or own? ;)

[Fulcrum]

Lots and lots of farmland, some gold, some silver, and a fully equipped shop with the most modern technologies.

[tallen]

Net Worth means you already own a bunch of assets with value (probably with varying degrees of liquidity...).

My net worth is several orders of magnitude less than a billion, and I already own a nice house, several cars, a "yacht".... Sure, having more disposable liquid assets could mean that maybe I could upgrade to a nicer house, more desirable cars, a bigger yacht, but those are not things I dream about (although, a tractor... I would really like to have a tractor! or an excavator...;-). Rather than more stuff, I would spend new income on "experiences" -- more skiing, more sailing, more travel, more learning... and more investment in my community and support for causes that I care about.

[turboguy]

Heck you could take that billion and add my net worth and not even notice the difference in the number unless you looked close. If I really did suddenly add a billion to my assets although it is not something I sit around dreaming about I would probably pick up one sporty car. That is about the only splurge I can think of although if I really wanted the sporty car I would buy one now. I would probably add on to my factory, pick up some new things like a new fork lift, a tractor and a skid steer. I think the biggest change I would make would be to hire some people to take some of the work load off me such as a full time web person and an engineer. That way I could cut my work load back to 10 to 12 hours a day 7 days a week. I could also think about hiring someone to travel so I could travel less. No boats or skiing for me though, and probably no travel more than I do now.

[Fulcrum]

That way I could cut my work load back to 10 to 12 hours a day 7 days a week. I could also think about hiring someone to travel so I could travel less.

Slacker!!!!;)

[Harold Mansfield]

I would think that I'd probably have built (or worked hard for) that worth, not have it thrown in my lap and by then I'd probably own everything I wanted.
Would my life change? Of course. If my net worth is public then life would have to change.

I'd be more worried about my personal security and that of my family. I probably wouldn't be able to hang in the same places with the same people.
Doesn't matter that you don't change, the problem is that others change and you'll need to recognize that and make adjustments.

You can't say how people would or wouldn't change with that kind of money in their face until it happens. Friendships are usually of people of similar demographics. Age, income, circumstances. You can't say how someone else would change when that balance is upset and one has so much more than the other and you no longer share common problems and outlooks on life. It cannot be predicted. Even with family. Especially with family.

So yeah, life would change and I'd hope that I'm smart about it.

[anilverma]

I would buy a jet. And fly around the world.

[Beginner]

Nice post
Okey
I think i will buy a few houses and travel around the world:cool:

[Harold Mansfield]

One of my favorite scenes from "Next Friday" was Craig and Uncle Elroy (who hit the lottery) talking in the backyard.

Uncle Elroy says: "I know what you're thinking. I was the one back in the day always talkin' bout how I love the hood. I was the one sayin' I wasn't the kind of [person] that would make a little money and run to the suburbs. You're right. That's what I said. But as soon as I got my check I WAS GONE!"

[Bobjob]

Assuming taking care of family and friends is a given.

I'd have to know how much interest I'd be making off 700 million to make sure I don't over spend.

I'd want to give about a third of my money to people and families who would be smart with the money and need a little help making it to the next level (maybe 500,000 to each). But I wouldn't want to get hit with gift taxes and I wouldn't want to put them in a higher tax bracket.

Then a place in Miami, a Porsche collection (maybe 6-8 vehicles), go to race track an run my porsches. It'd be hard to avoid buying a house on the Strand in Manhattan Beach, finish my plastic surgery journey to look more like Ben Affleck (I hope y'all have a sense of humor), I'd got to Basel, Switzerland and work on my German language, and visit Spain and work on my Spanish. I'd learn to sail and possibly get my pilots license, but those little planes seem to fall out of the sky often so maybe not. I'd exercise regularly maybe spend a month in the Maldives.

[Fulcrum]

I'd have to know how much interest I'd be making off 700 million to make sure I don't over spend.

Well if we assume an annual interest rate equal to inflation, let's say 3%, that would mean your making slightly more than $21M per year in just interest. If that were to drop to 1%, you'd only make a measly $7M. I don't know if any of us could survive on that.

[Harold Mansfield]

I imagine this amount of wealth is were Irish, Swiss and Cayman Island bank accounts come into play.

[Fulcrum]

I imagine this amount of wealth is were Irish, Swiss and Cayman Island bank accounts come into play.

Sure. But I'm not taking this seriously, just having fun.

[Harold Mansfield]

Sure. But I'm not taking this seriously, just having fun.

Of course. I was just wondering what the rates would be if you had accounts there.

[BizAdvisor]

I honestly believe I'm at the point in my life where if I were to become a billionaire, there wouldn't be a significant change in the things I would own... Other than property and the location of my primary residents. I would like to find a similar sized home, but with more substantial property between me an my neighbors. It would probably also be a wise idea to relocate near others of similar financial standing... Which I guess may rule out the size of my preferred size of home, unless I found a place in Warren Buffet's neighborhood.

I'm mature and thrifty by nature. I don't want flashy cars, especially if they draw attention to me or make my financial standing stick out like a sore thumb. I prefer owning a sensible, everyday vehicle with a safe collision record. I have no problem being a billionaire that drives a Volvo. Though the Mrs. can decide whatever car she wants. Though she's not too flashy either.

Jets, yachts..? I can do without.

In all honesty, it's not about what I would have, but rather what I would do: I'd become even more involved in the urban community; finance and build schools, help finance local businesses, start a scholarship fund for underprivileged kids that value the importance of education, open inexpensive primary healthcare facilities... etc.

[Business Attorney]

I would buy a few small houses or condos: at least one place restful for the summer and at least one place warm for the winter. I would make sure that each of my children were not financially stressed. Then I would start traveling more and knocking places and experiences off my bucket list. In the meantime I would start planning on how to effectively give away at least 95% of it during my lifetime for the betterment of society. I'm already over 60 and I don't want cars, a yacht (or even a small sailboat), a jet or anything else I have to maintain. Keep it simple.

[Harold Mansfield]

I figure 2-3 homes in my favorite 3 states. I'd probably open 2 bars since I have the people in mind already to run them.
After that, maybe a couple of cars and spend my days donating to charity and causes, traveling, going to sporting events, and consuming all the tech and gadgets I could.

A few weeks ago when Powerball was a billion dollars, I said if I won that I was going to buy Flint Michigan, fix it and turn it around.

[Fulcrum]

A few weeks ago when Powerball was a billion dollars, I said if I won that I was going to buy Flint Michigan, fix it and turn it around.

Think that would be enough to fix the water issue?

[Harold Mansfield]

Think that would be enough to fix the water issue?
Yep, and turn the city around. I had a whole imaginary plan in my head that focused on infrastructure (including heavy crime and blight areas), and education. And I would have done it by putting the people to work to rebuild and save their own city, while improving the schools and community college for the upcoming generation to keep taking it forward.

In my imagination it would work, but then again doesn't everything?

[BNB]

Assuming taking care of family and friends is a given.

I'd have to know how much interest I'd be making off 700 million to make sure I don't over spend.

I'd want to give about a third of my money to people and families who would be smart with the money and need a little help making it to the next level (maybe 500,000 to each). But I wouldn't want to get hit with gift taxes and I wouldn't want to put them in a higher tax bracket.

Then a place in Miami, a Porsche collection (maybe 6-8 vehicles), go to race track an run my porsches. It'd be hard to avoid buying a house on the Strand in Manhattan Beach, finish my plastic surgery journey to look more like Ben Affleck (I hope y'all have a sense of humor), I'd got to Basel, Switzerland and work on my German language, and visit Spain and work on my Spanish. I'd learn to sail and possibly get my pilots license, but those little planes seem to fall out of the sky often so maybe not. I'd exercise regularly maybe spend a month in the Maldives.


You don't need anywhere near $1 billion to do almost your entire list, other than giving away money to everyone. I only point that out because I have a nice home in Miami, travel to Europe regularly, have a BMW just for racing around the track, and got my pilots license and even bought a plane. Not sure what you do, but much of your dream lifestyle is very easily within reach.

[walmartsupplier]

783 And I would call him Bruce!:)

[BizAdvisor]

I wanna change my answer. If I was a billionaire, I'd start wearing cowboy boots. Currently, the Mrs. won't let me purchase or wear them, but I think if I was a billionaire, she'd let me buy some and wear them from time to time... At least around the house.