6 fancy experiences that the rich splurge on, like pet cloning and kidnap insurance
A growing number of rich folk are using science to clone their pets, to skip the bereavement part that comes with bringing, and losing, a pet. Of course no one loves losing a loved one; especially a pet. But that's not it.
The rich spend a lot on a variety of things, things which probably the 'not as rich' (like you and me) don't spend on. By investing in these experiences, the rich folk seem to be increasing demand and supply for unique services around the globe.
Here are some fancy experiences that the rich spend on:
PET CLONING
So, what is pet cloning? A piece of tissue from your pet is taken and broken down into its individual components, or cells. These cells are used to make an identical genetic copy of your pet. Cloning is like giving birth to an identical twin, but only during the life of the pet. A clone cannot necessarily look or behave in exactly the same way as your original pet, but there will be a lot of similarities.
Happy Spring!#twins #clones #cloningisreal #puppies #love #happyspring #puppylove pic.twitter.com/IDHefiz418
— ViaGen Pets & Equine (@ViaGenPets_) March 25, 2022
Companies charge somewhere between $35,000-$80,000 to bring new life to your beloved pets. A cloned dog can cost you $50,000 (ie. Rs 37 lakh), a cloned cat will cost you $35,000 (Rs 27 lakh) and a cloned horse will cost you $85,000 (Rs 64 lakh).
LUXE PANIC ROOMS
While putting a price on personal safety is impossible, panic room or a "safe room", is one of the safety features that high-net-worth individuals spend tens of thousands; even hundreds of thousands of dollars; on sometimes. This helps them protect their families, possessions and properties which they have have a lot of. These rooms are commonly popular in London where high-profile investors from Russia and Middle East invest. These clients usually like replicating the features of one home to another.
But why have the demand for these rooms increased in the last few years? Well, thank the natural, man-made disasters and the mass gun shootings in the US.
On that note, remember when Kim Kardashian got a panic room built in their home?
How did Kim Kardashian's meeting with Trump go? Bad enough to go chill in the panic room for a bit. pic.twitter.com/kT5Z3LkVq8
— DESUS & MERO on VICELAND (@DesusandMeroVL) May 31, 2018
Prices of panic rooms and vaults are based on size and level of security. Clients get the basic armoured room for $50,000 to $5,50,000 (Rs 37 Lakhs to Rs 1.14 Crore) whereas high-end safes generally cost between $30,000 to $80,000 (Rs 22.5 Lakhs to Rs 60 Lakhs).
KIDNAP INSURANCE
If you want to make quick cash as a businessperson, set up an insurance company and offer a kidnap insurance policy. You wont be able to cope with the amount of business you will get. Kidnapping is Nigeria’s fastest growing business under General @MBuhari. Thank me later #EndSARS
— Reno Omokri (@renoomokri) November 13, 2020
The wealthy need to insure a lot of things other than their income and assets. Apart from property theft, ultra-high net worth folks also have to worry about themselves. Some international insurance companies that cater to the wealthy (like Chartis, Chubb, Fireman’s Fund) offer coverage for kidnapping and ransom. If the rich are ever held captive, the insurance will cover the cost of hostage negotiations and the delivery of money to ensure their safe release.
Usually, Fortune 500 companies and companies working in risky regions take out kidnap and ransom insurances to protect their employees.
HOUSEKEEPING STAFF
Though a lot of us fantasise about getting rich and never lifting a finger for housework again, the cost of household staff might be a large one for the rich folk...especially in developed countries. Owning multiple homes, superyachts and luxury cars across the world often requires the rich to hire cleaning and maintainence contractors. These usually involve a big team who take care of maintaining the assets of the rich. Also, full time staff is required to maintain the status of the rich, who often may entertain guests.
Personal chefs cost anywhere from $50 to $75 (Rs 3700 to Rs 5600) per hour on average, plus the cost of groceries. A full-time chef could cost $100,000 to $150,000 per year on an average, which is significantly higher than the cost of cooking your own meals or getting takeout.
But how much does a housekeeper cost? Well, as per the ad below, between Rs 60-75 lakh.
— Polo & Tweed (@PoloandTweed) April 1, 2022
INSTANT LIBRARIES
Bibliophiles love collecting books and have a habit of collecting books. But when people buy books just for show, it is pretty distasteful. Though the wealthy do read and learn constantly, they may or may not really have the time to curate a collection.
Companies like Books by the Foot sell books in bulk to fill up the bookshelves of the wealthy and achieve that classy, erudite look. They set their prices by width and book racks are broken down by colour, genre, age and more. For eg: some upscale vintage leather and premium literature will cost you $100 (Rs 7500) per foot.
LUXURY ICE
we like the pour… the ? could use a little work ? #OnTheRocksJustGotBetter-TM https://t.co/tRknRyVJuo
— Glace Luxury Ice (@GlaceLuxuryIce) December 4, 2021
Glace Luxury Ice Co. believes that your drink will taste better if you invest in better ice cubes. Glace believes in heightening the water sipping experience by creating purified ice cubes, free of any minerals, additives or other pollutants that can potentially contaminate the taste of your alcoholic beverage.
Irrespective of what you prefer, be it the classic cube, sphere or a mix of both shapes, purified ice costs you $325 (Rs 24,500) for a pack of 50. This may not be a big deal to the rich, who spend thousands on exclusive liquor.