The New Rich often conduct business at the exclusive Core Club in New York City. Opened in 2005, founding members each paid $100,000 each to join. It's an oasis for investment bankers, hedge fund managers and private equity partners.
Bill Fischer has become rich by catering to the rich. His travel agency, Fischer Travel, charges $100,000 just to become a client and $25,000 to stay one.....that's before you even book a trip!
Parrot Cay, in Turks and Caicos, is a favorite refuge of Wall Street heavy hitters. Mid-priced villas cost $2,200 a day. Some homes rent for $10,000 a day and include a butler and full staff.
An island of great wealth....midtown Manhattan in NYC where the lavish spending of the super rich knows no bounds.
These Christian Louboutin pumps go for $2,500. Louboutins and others like them are so popular that Saks Fifth Avenue in New York recently expanded its shoe department... it's so large it was given its own zip code.
At a recent store opening in midtown Manhattan, Gucci debuted $18,000 handbags....but, they're not even close to the highest priced item in the store.
This big trunk is probably the most expensive item at Gucci in New York City.
Price tag: $250,000.
At Audemars Piguet, customers shop for watches that cost more than some homes. Prices start at $10,000 and range up to $800,000.
At Bulgari, sales of one of a kind jewelry, like this $1 million engagement ring, are the company's fastest growing segment.
80 percent of people with a net worth exceeding $30 million say they plan to spend more in 2008 than they did in 2007 (Prince Associates).