Soooo Rich !!! You Just Want To Slap Them !

  1. Posted purely for entertainment purposes only & If You need a laugh. :smile:

    17th November 2006


    [​IMG] Lavish: From top, Rosario Saxe-Coburg and Prince Kyril of Bulgaria, Nichola Pease and Gabrielle Sacconaghi



    As the immaculately coiffeured woman spoke, tears of self-pity welled up in her beautiful eyes.
    "I’ve no childcare at all," she confided to her friend. "I have to do it all myself."
    Downstairs in the laundry area of her £4milion London town house, two Filipina maids and a housekeeper busied themselves ironing and putting away linen.
    "I’ve just organised the school run, and I’m exhausted," she sighed, sinking into the expensive sofa and examining her manicure. At that very moment, her seven year-old son, Sebastian, stepped out of the family’s chauffeur-driven BMW at the door of his expensive Notting Hill prep school.
    Another Filipina ran after him, carrying his monogrammed grey school cap and sports kit.

    Back at home, his mother picked up the telephone to call her project manager, to enquire waspishly on the progress of the family’s plans for a basement swimming pool, paid for with her banker husband’s latest £1m bonus.
    "That’s what these women are like," says Rachel Johnson, author of the novel Notting Hell, which charts the lives of bankers’ wives.
    "They literally don’t think they have help with the children unless it’s a Norland nanny. Third World help doesn’t count."

    Welcome to the world of the City WAGs — the new superbreed of bankers’ wives and girlfriends. These pampered creatures inhabit a rarefied world of extreme wealth, where the towels are always white and fluffy, a member of staff is employed to walk the family dog, and children are status symbols, indicative of their husband’s massive salary and bonus packages.

    The men are today’s Masters of the Universe — the term coined by author Tom Wolfe in Bonfire Of The Vanities, to describe the alpha-male New York bond traders of the Eighties.
    The women are the ‘social X-rays’ he chronicled, who exist on rocket and parmesan salad and employ a host of personal trainers, stylists and servants in order to hang on to their men in the face of cut-throat female competition.
    They are growing in number: a record 4,200 City high-fliers will collect bonuses worth more than £1 million each in the next few weeks, according to the Centre for Economics and Business Research — 40 per cent more than last year.
    As a result of markets trading at a five-year high, an increase in mergers and acquisitions and competition for senior staff, an astonishing £8.8billion will be paid out in total.

    This week, Armstrong International, an executive search firm, revealed that European heads of corporation finance can expect to receive up to £5m. Senior workers will get around £1m, and even juniors at major banks such as Goldman Sachs, JP Morgan and Citigroup can expect around £350,000.
    "This is the fastest growing area of wealth creation in British history, and leaves the internet boom of 1999-2000 trailing in its wake," says wealth watchdog Philip Beresford. "We are seeing the emergence of British Masters of the Universe, and a global elite who are basing themselves in London.
    "Forget the £1m home — £2m is the norm for these people. For £5m you will get a property with a bit of class, £10m for real luxury. For a London home with a large garden that pretends it is in the country, investment bankers and hedge fund managers think nothing of spending £20m plus.

    "An indication of the massive wealth generated is that the private jet market is enjoying the mother of all booms. You could have a decent-sized air force with all the private planes on order for real high-fliers in the Square Mile."
    Some WAGs are even said to use these jets for shopping trips.

    Major players in the City are taking home as much as £75m a year, according to society magazine Tatler.
    Glued to screens watching the Nikkei index rise and fall, or monitoring the markets via their Black-Berry, they have no time to spend their vast fortunes, however, which is where their wives come in.

    "The City WAGs are the chief executives on the home-front," says Beresford. "They take the high-powered decisions on how the money is spent.
    "Spending £500,000 a year on top of housing costs is the norm in this arena. The cash goes on everything from luxury items to car dealers, security firms, private schools and companies which organise tailor-made holidays.
    "These extremely glamorous women will employ an average of ten people to help them keep an immaculate home, look wonderful, take care of their stressed husband’s needs, and bring up the children," explains Beresford.
    "They spend hours each week at the gym, and pay huge amounts for plastic surgery. They all drive 'Chelsea tractors' — but many have chauffeurs in their pay, too.
    "Big families are status symbols for the City WAGs, because they are another excuse for stratospheric spending.
    Rachel Johnson says: "In this world, having four children shows you have the wealth to maintain a large household with the requisite staff, chill-out spaces, slate-floored larders and walk-in wardrobes.
    "Of course, there’s also the Porsche Cayenne, the family skiing holidays in Gstaad and the second home in the Cotswolds. It’s all highly competitive."
    The wives of bonus-rich partners in London’s City law firms tend to live in the leafy streets of Barnsbury, in Tony Blair’s former stomping ground of Islington, North London, while the Square Mile spouses live in the exclusive stucco-fronted garden squares of Notting Hill.

    Here, sought-after properties change hands for more than £4.5m, while bankers’ homes in The Boltons in South Kensington, Mayfair or Knightsbridge cost even more.

    According to Savills, house prices in these areas increased by 22.5 per cent in the first six months of this year, and many sold for 20 per cent more than the asking price.
    Their children go to school at Wetherby School in Notting Hill, Pembridge Hall, Sussex House or Westminster Under School. Here, wearing traditional English school uniforms beloved of the nouveau rich, they are moulded for Eton and Harrow.
    Unlike the brash World Cup WAGs, these women are not brassy: they have their hair done at John Frieda, where they spend hundreds of pounds a month on subtle blonde highlights and styling, and lunch with girlfriends at the sophisticated restaurant San Lorenzo behind Harrods.
    They spend thousands of pounds a year on fashionable cultural events.
    Popular ones include First Night Club at the Royal Opera House, Covent Garden, which, for an annual subscription of £33,900, guarantees members four top tickets for the first nights of all productions, and a table at the Floral Hall Balconies Restaurant (plus complimentary champagne).
    At the top of the tree currently are the Hedge Fund WAGs. The current issue of Tatler notes: "Hedge fund managers are the Paris Hiltons of finance: sexy, rich and so confident you want to smack them. It is without question the business to be in right now. This new class of super-rich has become the talk of the town."

    Queen Bee in this circle is the blonde Gabrielle Sacconaghi, a chic European who is girlfriend to Louis Bacon of Moore Capital, described as one of the world’s top-ten hedge fund managers.

    Reputedly more powerful than the legendary investor George Soros, Bacon, 49, is by far the biggest of the daredevil managers who take big bets on the direction of stocks, bonds, currencies and commodities.
    He is said to be worth £558m, and closely guards his privacy. Sacconaghi accompanies him to polo matches, and moves in Britain’s most aristocratic circles. In May, she became godmother to Lord and Lady Dalmeny’s son, the Hon. Albert Caspian Harry, alongside Sophie, Countess of Wessex, and Viscount Strathallan.
    Conveniently for Sacconaghi, the divorced Bacon owns homes in Belgravia, Colorado and the Bahamas, a Long Island estate and nearby island, a grouse moor in Scotland and three private polo grounds.
    Then there’s Rosario Saxe-Coburg, whose husband, Prince Kyril of Bulgaria, is a principal at GLG Partners asset management. She is often seen at charity events on the arm of her friend, Hugh Grant, because her husband is usually at work.
    Giancarla Alen-Buckley’s husband, Michael, is co-founder of RAB capital. A member of the super-rich Forte family, she is one of Mustique’s leading hostesses and a WAG ringleader — organising social events from her £10m Holland Park townhouse.
    Crispin and Nichola Pease are known as the industry’s Posh and Becks. The founder of Odey Asset Management, Crispin recently bought his wife a £300,000 diamond ring.
    Unusually in WAG circles, Nichola works — she is reputed to earn £3.5m a year at JO Hambro Capital Management — but only four days a week, so she can see her three children on Fridays.

    Their combined annual income is said to be in excess of £10m, and they own a six-storey Georgian home in Chelsea, worth over £6m.
    Michael Spencer’s wife, Lorraine, organised a party for his 50th birthday at their St Tropez mansion, hiring Robbie Williams, at a reported cost of £1m, to sing to 300 guests at the fabulous celebration.
     
  2. Spencer, chief executive of InterCapital, the world’s largest money broker, was said to have been paid a bonus of £5m last year.
    Other names on the WAG circuit are Geraldine Gottesman, wife of Noam — a billionaire art collector who is reported to be the second highest paid man in the City after Bacon. He summed up his skills to a prospective client in three words: "I make money."
    They live with their four children in an £18m six-storey Mayfair mansion, where they employ a personal chef and drive a Porsche, 4x4 and MG convertible. Gottesman uses a private Gulfstream V for his fortnightly trips to the U.S.
    Until recently, the WAG pack was led by London-based Australian supermodel Elle Macpherson — but she split last year with her boyfriend, Arpad ‘Arki’ Busson, the suave French hedge fund manager at European Investment Management.
    Father of Macpherson’s two boys, he organises an annual charity auction which is the highlight of the WAGs’ summer social season.
    Here, the Masters of the Universe compete, gladiator-style, with a conspicuous show of obscene wealth as their dazzlingly beautiful wives look on. Last year, Busson raised £18.4m in one evening for charity Absolute Return for Kids — where Elton John provided the entertainment.
    One guest says: "The wives were dressed up to the nines — it is a highly competitive world. You were nearly blinded by the diamonds on display."
    A yoga lesson with Sting sold for £300,000. A Damien Hirst painting and a guitar lesson with Coldplay’s Chris Martin were snapped up. And a game of tennis with Elton went for £70,000.
    Rachel Johnson says: "It is a jolly nice life, but a stressful one. There is huge pressure to look good, so these women are always twangingly fit. There is one pilates class in Notting Hill which has a longer waiting list than the most over-subscribed private school in the area.
    "They have to stay super-thin, so they don’t really eat, they just push a few salad leaves around their plate, and they’ll leave expensive wine untouched.
    "These women maintain separate social lives from their partners — simply because their husbands spend most evenings in the office or entertaining clients. I know of one wife who was told recently by their hubby: 'I’m free next March'."
    When they do entertain with their husbands, it is always lavish. One WAG put on a birthday party for her husband where each table had an individual sommelier, and guests were issued with cashmere blankets.
    One banker’s wife says: "To the outside world, we might look like hugely enviable parasites, but that would be to misunderstand the tremendous amount of work involved in running these mini-empires. "Everything is underpinned by the need to keep up with the bankers next door, and there’s the constant fear that in this very consumerist environment, where possessing the latest Porsche is all important, you might be replaced by the latest model."
     
  3. I'd love to see all these womens closets.
     
  4. That sounds like the future of everyone I know.... All my male "friends" are off to London working at hedge funds. That's the life my ex wanted. He even wanted four kids. He wanted to be in NY though ... Harvard instead of Eton; UES instead of Mayfair (where he currently lives), blah blah blah. He has friends who make 10-20 million pound bonuses and they are in their early 30s (hedge fund bonuses are much higher than at the investment banks). They're mostly unmarried so they hang out in private clubs with models.... It's way too stifling for me! :throwup:
     
  5. LOL, this type of article always come up at the end of the year when the bonuses are dished out.

    But you must also realise it's not that easy to just spend money because I know some ladies who are taking this line, after they get their Cartier Haute Joaillerie, they get bored spending money and they run out of ideas so they decide to have their garden landscaped annually or switch the swimming pool (that they never swim in because it's always too cold, LOL) from one side of the house to another!

    Sonya, in general that's right that hedge funds guys will get more but if you are a proprietary trader, then you can get more than 95% of the hedge fund people (besides long-short hedge funds have been killing each other lately so they actually get slightly less). Some trader guy got paid $70m in bonus (though half of it is options which tied him down to the firm for four years, LOL).

    P.S. elizabethk, I'm not quite at the $70m level yet so I don't think I should show you my closet, LOL
     
  6. They should spend some money on fixing their faces. They all look related to each other with their frankenstein foreheads.
     

  7. I totally thought of you when I read this article. :yes:

    But I think the goal of hedge fund guys is to start up their own funds themselves and be that guy who makes $100m+ a year. Regardless, at the high end, your life is going to be very similar (except less bragging rights, perhaps) whether you make $20m or $50m....
     

  8. :roflmfao: Yes, they're not very attractive.... (The prettier mistresses are all hidden away.... :nuts:)
     
  9. This is what I hated most. My ex was always busy. I flew into NY when he was there and I only spent maybe one evening having dinner with him. He felt bad, told me to eat out anywhere and charge it to him (so I did, even inviting my friends) but I hated eating by myself at La Goulue (close to the Pierre) watching Helen Schifter and her husband enjoying their meal at the table over.

    I was so bored out of my mind that even Barneys (in the same building as my hotel) got old. (And I once spent an entire summer at Barneys and never got bored!) I went to the gym everyday (and I never do that). I think it's easy to be thin (or overweight, but nothing in between) when you are neglected.

    It was hell. Boredom is hell to me.

    My mom couldn't understand this.... :sad:
     
  10. :lol:
     
  11. The ladies who spoke/quoted in this article are a bit foolish. I mean an article about the rich is not going to be a sympthatetic or necessarily flattering piece so why do it? I guess maybe they are part of the any publicity is good publicity mind set. Money sure doesn't buy common sense.
     
  12. Wow, those men make a ton of money...but I'm not quiet sure what their career is?
     
  13. And money buys happiness....

    Honestly, I could care less about a 70 mill bonus if I wasn't truly happy and healthy and having a great life- good husband, good family, and healthy kids.
     
  14. :yes: !
     
  15. Ditto!