<\body> Stories in America: How Do Wealthy Wall St. Guys Spend Their Wealth?

Sunday, February 25, 2007

How Do Wealthy Wall St. Guys Spend Their Wealth?

Only eight percent of the respondents were women:
The richest bankers are the most lavish spenders -- deploying a larger proportion of their take toward homes, cars and luxury goods. Roughly half of the survey's respondents took home bonuses of more than $5 million last year; this group spent 16% on watches and jewelry and socked away about 9%. By comparison, the other half of respondents -- those who received $2 million to $5 million -- spent only about 7% on baubles and put 23% into savings.

And despite the notion that the really rich give more to charity, the rule didn't seem to apply to the bankers in this survey. Respondents gave about 4% to charity. Those receiving bonuses of $5 million or more gave the same proportion as their poorer peers. Says Mr. Prince: "This is not an especially generous group."

1 Comments:

At 2/25/2007 5:06 PM, Anonymous jack boo said...

"And despite the notion that the really rich give more to charity, the rule didn't seem to apply to the bankers in this survey."

Perhaps there are more liberals in this group....

http://abcnews.go.com/2020/story?id=2682730&page=1

(And don't miss the "Siox Falls vs. San Francisco comparison!)

 

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