"The West Coast technology center is now home to a staggering 82 billionaires, compared with the Big Apple's 66, according to the fourth annual "2025 World’s Wealthiest Cities Report," which was released by investment consulting firm Henley & Partners in collaboration with global data intelligence firm New World Wealth....
"Additionally, the Bay Area ranked No. 2 in the world for the number of resident millionaires, at 342,400. It also came in second place for the number of centimillionaire residents (those with net worths of $100 million or more) at 756, having enjoyed what researchers at Henley & Partners described as an "exceptional" millionaire growth of 98% over the past decade."
In Ccase you are wondering what life is like for a centimillionaire: $100 million invested in aggressive growth equity funds will let you draw about $10 million per year gross (about $6 million net taxes) with no loss until your grandchildren blow it all trying to corner the market in pork bellies. (Or silver, if you have the misfortune to have children as dumb as H.L. Hunt.)
Take no risks. Invest the $100 million in municipal bonds of your state. You should have no problem getting $4 million a year in interest income on which you owe no income taxes.
I find the envy that the left promotes really odious but if you have a $100 million invested, you can certainly afford to spend some of it alleviating hunger, providing drug rehab and mental illness care in your city or state. You have not just enough but enough to do good as well.
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