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How Much Money Do Billionaires Spend on Personal Security?

Living like a billionaire isn’t easy at all. The personal security and keeping your luxury goods safe is a top priority. So you’ll need to pay for security every single day, especially if you earn a bit of fame along the way because of your fortune. The cost for a security team can seriously add up over time. According to the Fortune, Facebook, paid a reported $7.3 million way back 2017 per founder Mark Zuckerberg’s personal security detail.

If you’re paying for high level of security out of your pocket, you will pay about $21,370 per day. That’s on top of other upfront costs for other forms of security like a home security system. That is a lot more money. Outdoor home maintenance cost about 400 to $8,000 a day, depending on how big your property is.

Billionaires always have a butler keeping their mansion spick and span. It requires lots of work, and they’ll likely want a butler on their staff to help out. The Butler often helps care for a portion of your home. The average Butler takes home about $68,000 annually, according to the Pay Scale, a provider of salary data. Salaries typically topped out at 99,610, which works out to be about $273 and 96 cents per day.

Another thing you could look into as well would probably be the nanny fees. When you’re a billionaire, work keeps you very busy. So if you have kids, you’d definitely need to hire some help to care for them. The founder of a nanny agency told the Daily Mail that the salary for a live-in nanny could quickly begin around $80,000. That works out to be a daily rate of over $256 per day. You’ll also need to cover other expenses, like If you’re traveling as a family for example, prepare to pay your nanny travel expenses too.

Billionaires have their own personal chefs. They hire full-time chefs to have them plan and cook their food for them. Indeed reported that a private chef salary usually tops out at $188,000, which means your daily cost for a private chef would be about $515 daily.

Billionaires also have their personal trainer. Personal trainer fee is about 1300 to 1500 dollars a day. And now with the one that is going to shock all of you – entertaining costs. Part of building your network is making the right connections, and as a billionaire, a big part of your job is networking. That means holding the no-holds-barred stories that lavish enough to impress your fellow ultra-rich friends. Throwing a big bash doesn’t come cheap. The New York Times reports that a billionaire Stephen A Schwarzman, spent a reported $5 million on his 60th birthday party in Manhattan. The one palette in comparison to the cost of his 70th birthday party, which set him back reported as $200 million. Assuming $10 million budget per party is a thing, throwing an average of three stories a year was set you back nearly $30 million, or $82,191 per day.

Now with the last one, we have their mansion. Not surprisingly, homes will be among the highest costs. With security and everything, your mansion is worthy of being a billionaire with a price of 15 thousand a day. If you become a billionaire, the daily housing cost varies depending on the price of your home. But if you’ve invested in the home costing $138 million, like billionaire Jeff Green in the Beverly Hills mansion listed for 138 million, you’ll be paying a fortune every single day. Assuming you bought a home and put down respectable 20% down for your payment, you’re looking at a mortgage worth of $100.3 million. At an interest rate of 3.875% on a 30-year fixed-rate mortgage, you’ll pay about 485k per month or around 16k per day. Now that is all insane, but security is a big thing. So it does depend on how much they spend daily.

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