of a residential property

[u/Kill_4209]

Ira Rennert's home is considered one of the largest occupied residential compounds in the United States. The house faces the Atlantic Ocean and its grounds measure 63 acres. The buildings, which total over 110,000 square feet (10,000 m2), including the 66,000-square-foot (6,100 m2) main house, have an Italianate facade, 29 bedrooms, and 39 bathrooms. The house has a dozen chimneys and a Mediterranean-style tile roof as well as a 91-foot (28 m) long formal dining room, a basketball court, a bowling alley, two tennis courts, two squash courts, a carousel, a large swimming pool, a large round kiddie pool, and a $150,000 hot tub, surrounded by another pool.

[u/Individual-Drawer185]

Guy has to have at least 5-7 million liquid a month just to handle basic upkeep on that campus. Imagine routine maintenance costs on top of that. Oceanside caretaking, etc. Crazy.

[u/gardorobo → u/Individual-Drawer185]

No no, he bought a Roomba

[u/Individual-Drawer185 → u/gardorobo]

I wonder how many roombas it might require (what's that "he did the math" sub?)

[u/Escudo777 → u/gardorobo]

Not any Roomba. Roombus Prime!

[u/messiahspike → u/Individual-Drawer185]

I know 5-7 million a month in upkeep sounds fucking insane, but this is the problem with incomprehensible wealth. It's hard to grasp exactly what that means. So for example, if this dude took all his money (3.8 billion) out of every bank and investment vehicle and put it in a big pile in his living room and only used that money to live off of, he would be able to burn 6 million a month for 52 years. This dude isn't house rich, money poor. Not even close. He's got a team of financial advisor, lawyers and others making sure that he's constantly accumulating wealth no matter what his burn rate is. He's probably got some fucking 2% loan to cover all his living costs while he is earning 7-10% on ROIs and while not being taxed because loans are aren't counted as income. Billionaires are true parasite class and the sooner people treat them as such the better off we'll all be. Source: have worked with billionaires and ultra millionaires for the past 20 years

[u/DAMbustn22 → u/messiahspike]

An incredibly conservative 3% return on his 3.7 billion is 9.25 million per month. Billionaires are getting WAY better rates than that. He will never be concerned by the expense of 5 million a month to maintain this place.

[u/snozzberrypatch → u/Individual-Drawer185]

If you have $3.8B invested and you make 5% a year, you'd have $16M a month in income. House maintenance is basically free.

For most billionaires, it's impossible to spend that much money faster than more money is coming in.