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."