Diplomatic Passport
A diplomatic passport is a passport issued by a government in accordance with the law for the use of Heads of State, Heads of Government and senior officials, diplomatic representatives, consular officers, and other persons engaged in diplomatic activities. In accordance with international practice, the spouses and minor children of the above-mentioned persons are also generally issued diplomatic passports.
Under the global Vienna Convention on Diplomatic Relations, diplomats are legally entitled to diplomatic privileges in all countries around the world, and both large and small countries are required to accord diplomatic respect and diplomatic courtesy to diplomatic document holders and their family members.
Split the Masterpiece in Two
Donating a fraction of their ownership is a way to gain a tax benefit tied to surging art values without actually donating the work outright. It is not uncommon for a piece to move back and forth between a donor and a museum, just as divorced parents may share custody of their children. In addition to the income-tax deduction based on fair market value, the owner may be able to give away more slices over time. The artwork is then donated permanently to the charity. Furthermore, dividing art ownership is another way in which the ultra-rich are finding creative ways to reap tax benefits from their fortunes.
Super-Wealthy Chinese use the Macau junkets system to get their money out
The Chinese government has limited how much money citizens can move out of the country: you can only transfer fifty thousand dollars a year. However, the Chinese rich have become adept at moving money out by entering the Macau casino business.
Here's how it works: The casinos work with organizations called junkets. Junkets promise casinos that they will bring them, VIP clients. In mainland China, Junkets hire an agent to find VIP clients, who are then offered a VIP package for a certain price. The VIP package might include free transportation or a luxury hotel room, as well as "free" casino chips which were just thrown in as a bonus. The VIP clients are essentially paying for the package, not the chips, which makes it legal (certainly the casino chips cannot be exchanged for cash). Because of this, they have to travel to Macau and gamble them all, but any chips they win back can be exchanged for cash, and as they put more money into the industry, they can do whatever they want with those winnings, including changing them for US dollars without any transfer limits. The billionaires can invest their new winnings somewhere outside of China.
Homes of the super-rich
The average house size for the top 1% is over 10,000 sq feet, because they have to fit cinemas, gym, yoga room, sauna room, multiple sitting rooms and many enormous bedrooms in the house. There is a ranking of what kind of views are the best for a billionaire’s house. Ocean view with private beach is on the top of the list, and then it goes to private gardens, city view from penthouse, mountain, desert, forrest/ parks.
​
Mirrios can be found easily in a mansion, and the role of mirrors, in the group of domestic servants of the privileged past, was to express everywhere an ideology that was recurrent in meaning, prolific and reflective: a mirror was an opulent object that provided the self-pampered Bourgeois individual with the opportunity to exercise the privilege of reproducing his own image and reveling in his own possessions. More generally, the mirror belongs to the symbolic hierarchy; it does not only reflect the characteristics of the individual, but its generative development also follows the rise of individual consciousness. However, to this day, the rich have not abandoned their Bourgeois narcissism and still fill their mansions with reflective objects, fine glass jars, reflective wall coverings, giant crystal chandeliers, etc.
Sailing into the high seas to fish
It is very common for rich people to host parties on high seas, but they are not only getting wasted or high on drugs on the ship. Surprisingly, the rich kids are more interested in fishing there. My Hongkong friend invited me once to visit Hongkong by his own aircraft, he told me we could sail into the high seas area and use fishing methods that are usually illegal, including pulse fishing and anchoring fish with underwater fish-finders. All of these acts would be exempt in high seas.
​
Sometimes , as part of the therapy treatments for the super rich, they are suggested to go out in nature and enjoy activities that can let their minds roam around. Hunting and fishing are some of the favorite activities for the super rich. Fishing rare fish and uncommonly large sea turtles became popular, weirdly, displaying huge turtle shells that they collect from fishing trips, also turns into an act of showing off their wealth, simply because catching such enormous turtles requires big fancy boats and other expensive equipments.
The rich people aren’t buying NFT art, they buy “lands” in the Sandbox
NFT took the art world by storm and it is definitely becoming a trend for collectors in the recent few years. Even though the threshold for blockchain art is relatively low, compared to that of traditional art collecting, knowledge of cutting-edge technology certainly demonstrates a collector's middle class and meritocracy taste. Under the influence of a market environment where art can be purchased using the internet and a mouse, there is an urgent need for any time, anywhere, scenario-based art consumption to become the new cultural consumption trend.
However, for the super-wealthy patrons, they are not buying into the NFT fads. They are not interested in this kind of civilian consumption of art. It is well known that the museum was formerly a Cabinet of curiosities and that not everyone was able to visit it. To this day, even though museums are free and open to the public, they still remain the cradle of elite art.
But hilariously, the young rich kids like to buy the “lands” in The Sandbox, in order to show their NFT arts. Today, in this game, an out-of-the-way plot costs around $20,000, and premium plots run into hundreds of thousands of dollars. It is their cynical approach to NFT artwork as a way to show the unique privilege that wealth brings them.
Accumulation of wealth
The super rich accumulate their wealth almost 100-300 times faster than an average American family.
Over the last 40 years, the wealthiest families of America on average have increased their wealth by 1000%. There are also inequality among the super rich, The five wealthiest dynastic families in the US have seen their wealth increase by a median 2,484% from 1983 to 2020. Meanwhile, during the same period of time, a typical family’s median wealth increased by an inflation-adjusted 93%.
The super rich often have a family office dedicated to growing the family wealth. Lawyers, accountants, portfolio managers are hired and find loopholes to avoid tax and the best way to accumulate wealth faster. With enormous wealth like the super rich, banks would often try their best to get them as clients, even lending out huge sums of money at a loss. This is quite the opposite when it comes to a normal working class person when asking for a mortgage. Therefore, the super rich can borrow large amount of money at a much lower interest rate, they could later then use that borrowed money for investments and pay no income tax. Due to the social power that comes with their wealth, the super rich take advantage of leverage which allows them to grow their money much faster.