See this ad? If you have already seen it, I want to be your friend because it is in a publication called Private Air Luxury Homes. And the only place you can find this magazine is in FBO’s… that’s Fixed Base Operations, or where people with private jets hang out. You know what they say: once you go wheels up private, you never go back to commercial. This magazine rules and I can imagine their readership is so uber duber high net worth that ad rates must be out of the ballpark and into Fort Worth.
I spoke with the folks at Private Air Luxury Homes today, which is located in Scottsdale. They know some of the agents here in Dallas real well, like Doris Jacobs, our friend Doug here, and Robbie Briggs because they all have advertised in this mag. Here is a preview of their magazine, digital-style, and I’m telling you, there is some might fine House Porn in there indeed!
The Crespi Estate owned by Tom Hicks is still on the market, still at $135 million. Which reminds me of a clip I just saw on WSJ.com: it is not enough to be a millionaire anymore. $5 million is the new $1 million; a million bucks just doesn’t cut it, doesn’t even make you feel rich. What does cut it? $5 million or more, according to the story. Apparently the folks at UBS Wealth Management (where my son once worked) did a study of affluent investors and wanted to know how much money is enough money — to retire, to be financially secure. Here’s what responders said: I have enough money when I have no financial constraints on activities. 28% of people with investable assets between 1 million and 5 million do not even consider themselves wealthy, and only 60% of the people at the top of this group ($5 million invested) consider themselves wealthy.
In other words, I can buy anything I want. Like a private jet, or the Crespi estate.