Quote:
Originally Posted by mopek1
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.
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You missed the article. They bought it for 11 million 5 years ago, remodeled it and sold it for 40 million. He must have done ok on it.