Quote:
Originally Posted by georgeyw
To own a house worth that much means you must be earning insane amounts per year.
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Maybe.
But many who also make lots of money have no idea how to manage it and end up overspending and then finding themselves unable to maintain the lifestyle.
A 40 million dollar house must cost $50,000 per year in property taxes alone! Then heating/cooling/electrical/water/gas/ (likely $30k), outdoor maintenance (no idea: say $15k), house maintenance ($20k) and on ...
So it costs over $100k per year to just
maintain a house of that size. Doable for mega stars but one day the money doesn't come in like it used to.