Luxe life: Where the 1% call home

The wealthiest people, meaning those who control at least $30 million in assets, are a lot more prevalent in some cities. Here's where you'll find them.

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VIDEO ON MSN MONEY

314Comments
Apr 25, 2012 8:17AM
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I just love how they add doctors to that list and most people think doctors make a ton of money.  I'm an anesthesiologist and although I make a fair salary, my $250K of medical school debt takes 1/10th of my salary each month in student loan payments.  Add to that, the credit card debt that I accrued during medical school to pay for everything that loans didn't pay for and we are just barely making ends meet.   I work 65 hours a week to make my salary and about 40% of that it taken by taxes.  

Take that and add it to the fact that I didn't start making "money" until I was 31 - hence I have NO savings and no retirement fund started.  I live in a modest town home and drive a dodge stratus (yes, super luxurious items).  There may be a few doctors who make as much as celebrities and athletes but, that is a very small number.    
Apr 25, 2012 6:30AM
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Washington DC is America's cesspool for liars, whores, and thieves.
Apr 25, 2012 9:27AM
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Isn't it a shame that we have come to a point in this society that we spend more time trying to take away from others rather than getting off our fat asses and doing for ourselves. While those of you that are a product of the o poor me generation are sitting there wining about what you do not have, the rest of us continue to keep our nose to the grind stone, delay immediate gratification, pay for what we need, not wait for the govt. to give us a hand out and actually earn what we have! 
Apr 28, 2012 9:11AM
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Why are people getting so upset over this? Jealous much? I'm really poor but I'm not mad at the wealthy because I don't have money. These people obviously know how to generate wealth and get richer, something that is possible for everyone if they WORK HARD ENOUGH and have the right ideas.

 

Stop the petty jealousy and realize that the reason you don't have wealth IS YOUR OWN FAULT.

 

:) peace

Apr 28, 2012 9:40AM
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the secret to getting rich is easy. first thing to do is get out of debt and stop buying on credit. invest your savings in things that appreciate. never buy a new car, boat, camper, 4-wheeler or you will watch your money depreciate to pennies on the dollar.
Apr 25, 2012 4:45AM
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What is wrong with some of the people commenting here, and why do they feel so cheated? The people in the article above are white collars workers, celebrities, and athletes. In regards to the latter two, they are the product of the market. In simple, unbiased economic terms, the American public has spoken on their behalf and overwhelmingly decided to fund their lavish lifestyle. Celebrities and athletes' success is contingent upon their popularity with the general public, and this is where their wealth comes from--regardless of how much of a nuisance and undeserved it may seem. Now, the wealthy... Are there some who have been swindling and greedy? Of course, but to say they are all terrible, vicious human beings is a gross generalization--no better than obtuse stereotypes placed upon the poor or ethnic folks. Bill Gates and Michael Bloomberg are on this list, and they have been exceedingly generous. In fact, the entrepreneurial ventures of many of these folks has made our day-to-day life easier. Without these profit incentives, the general well-being of mankind would not improve, as people do not simple invest millions in medical research for the most difficult diseases out of the kindness of their heart. As a college student working full time, I have learned that success and life are exactly what you make it. I worked hard for some scholarships, picked a rational major, made decent long-term goals, and have never charged more on my credit card than I have in my bank account. My city (Boston) is on this list, and the affluent have been incredible kind to me, which I never expected given my lower-middle class background from a town in the boonies of Alaska. The success of the wealthy is enticing, but in no way do I feel they owe me anything. They are not responsible for my circumstances in life and are certainly not responsible for any decisions I have ever made. Perhaps I am biased though, as my parents (my father (56) without a high school diploma always working arduous, odd, dirty jobs to make ends meet and my immigrant mother working retail) have never lived beyond their means or asked for the assistance of others...
Apr 11, 2012 10:29PM
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When they reference greed, to whom are they referring, those who worked to accumulate their wealth or those who expect to be given what others have had to work for?
Apr 12, 2012 4:23PM
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Why don't you do an article on the other 1%, the men and women that serve in the Armed Forces?
 Show some of the places we live defending your freedoms.
Apr 25, 2012 9:21AM
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My wife and I have 18 years of college between us.  We graduated with $250,000 in college debt.  We did without, paid off our loans and went on to lead very successful professional lives.  Through hard work, prudent investments and careful planning we retired early with an enviable portfolio.  Now that burr head in Washington  thinks he is entitled to what we worked so hard to acquire. Admit it lib's, you want to tax the rich and the ambitious.   You are green with envy and believe it's your birthright to take what we have earned.  I'm sick of your whining.
Apr 25, 2012 1:05PM
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I just want people to stop getting everything free and go out and work for a living..too many people in one type  of culture want everything for free...food , housing and medical care....if our taxpayers like me are going to pay them..please make them work for it...there is a lot of trash that can be picked up on city streets......
Apr 25, 2012 9:41AM
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I did not see my name listed.  Why?  I am not wealthy.  Far from it.

On the other hand, my wife and I make just above $250,000 a year.  We have no tax loop holes and no offshore bank accounts and we were not born with a silver spoon in our mouth.  We've sacrificed and worked hard for what we have.  Why are people falling for Obama's scheme - lumping common folks (like myself) in with Bill Gates and Warren Buffett?  I already pay close to 50% tax (federal, 10.3% thanks to state of California, and local taxes).  This is rediculous.  Disception at it's peak. 

This is not the America that our founding fathers and generations before us had envisioned.  Yes, be fair and balanced: bring manufacturing back into the USA, close down the corporate tax loop holes (e.g., GE), and welcome Warren Buffett's donations to the IRS (yeah right). 

 

This is highway robbery.

Apr 25, 2012 8:14AM
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Another day, another "fan the flames of class warfare" agenda piece from MSN.  MSN = More Stupid News
Apr 28, 2012 9:32AM
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Good for the 1%, The Majority of them have worked hard for what they have along with a little good fortune.  Many can tell you about a time in their life when they had to struggle to get by.  I am going to also work hard and try to achieve a high standard of living.
Apr 25, 2012 4:06AM
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I'm currently in college. My state is providing a scholarship for me that pays for most of it and is merit based and many other students get it as well. My parents saved up some money to help the rest. I'm studying and working hard. I plan on succeeding in life. Will I ever be a 1%er? Probably not. Who's stopping me? Myself. Who will ever stop me from succeeding? Myself. Something I hear often? "Those damn rich people steal from us who don't have!"... Vote for the right people, work hard, and think smart. That's what will fix this damn situation. Yelling/ hating/being jealous at the people who make $30million+ a year won't do ****
Apr 25, 2012 9:59AM
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If you live in the usa we are all the 1%when you take into account how the rest of the world lives. we are blessed,,
Apr 25, 2012 1:14PM
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  foreigners come to america and open business they are the new capitalist because americans take america for granted they want hand outs. So many people want to come to america and our own citizens don't understand how lucky we are.

Apr 25, 2012 2:10PM
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The title of this article couldn't be more misleading, and fuels the ignorance and misperceptions about those in the top 1% of income earners.  You are in the top 1% of income earners if you make approximately $350,000 or more in a year.  This article sort of just lumps together people in the top 1% with the terms "ultra-high-net-worth" and those who "control assets ... valued at $30 million or more."  While a comparatively small percentage of the top 1% do fall into this category, in sheer numbers, the vast majority of the top 1% of income earners make between $350,000 and $500,000 or so.  While this is a good living, these people are not "ultra-high-net-worth" as the term is used, nor are they flying on private jets and riding in private yachts, as the media portrays.  Rather, they are for the most part hard-working professionals and small business owners, many of whom have not earned that amount for most of their lives, but have worked their way up to where they are now.  The physician who has worked for 20 years and is making $350,000 and at the bottom of the 1% not in the same category of Bill Gates, who is at the other end of the 1%.

Jun 27, 2012 8:28PM
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Some people here seem to think the rich are hated because they are rich.  Not true.  Take for example the great designer Steve Jobs who we recently lost.  To say he was rich would be an understatement.  He was made out to be much more than he was though.  With all of Mr. Jobs wealth his electronic items were all manufactured in China and asian rim countries.  Not one of his products was manufactured in the USA.  I also found out recently that his high end high profit stores paid their employees 11.50 per hour with no benefits.  Most of Mr. Jobs goods were peddled in the USA. All of this while Americans suffered joblessness and home losses.  Mr. Jobs, in my opinion, is no hero.  In my opinion as far as America goes he is a Zero.  Take the money and run is what he did.  I'm sorry he died young for him and his family but I am truthful as to what he actually did for our country.
Apr 25, 2012 10:58AM
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I willing to bet most of the UHNW individuals(MSN puts it) were not going home at night and flipping on the boob tube watching some reality show and trying to live vicariously through others while they were trying to become successful.  Don't get me wrong, I'm not against TV and entertainment, but I've had to give that up from time to time because my career choice required certifications in order to get ahead and make more money....and that I did.

 

A quote that I read many years ago sticks with me still today, "Judge your success on the sacrafices you made to get there".  That pretty much sums it up for me. 

Apr 28, 2012 12:34PM
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WORK!!!!!! OK maybe some people have more, but what the heck just be happy with what you have. life is too short I know I am 68 very happy with what I have but I am not rich
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