In sociological terms, such spending is becoming taboo. They are conflicted because they know what such excess looks like in a world of widening inequality. I mean, do you know how many people you could feed or give water to in Africa." One told her they regretted it afterwards: "It’s retarded. "The men I interviewed were conflicted about such extravagance," says Mears. The whales don't want the world to know about their secret spending. But we should also be worried that this spending is hidden behind closed doors in nightclubs, or offshore on yachts and islands. Corbis via Getty Images The Global Party Circuit Todayīeyond being, frankly, bizarre, and strangely enticing, why does any of this matter? Who cares if billionaires are spending their hard-earned, or not so hard-earned money on pointless extravagances? Let them.Īnd so we should. Yachts are central to the global party circuit. "It’s being able to hang out with friends and having someone tell you, 'You're beautiful,' so you don't have to pay for anything," says Nora in an interview with Mears. But then they get access to an exclusive world without paying. The girls themselves are unimpressed with the spending splurges, says Mears. At one house in the Hamptons, Mears found 20 girls living on-site so their host was "assured a steady stream of invitations to the most exclusive parties in the Hamptons VIP scene." In a world where money is no object, billionaires trade with girl capital. In other words, girls become a currency which allows entry to clubs, a seat at dinner parties or invitations onto yachts. Clients like Donald leveraged girl capital to get coveted invitations to parties that might lead to financially enriching deals." The girls are not for sex or friendship, rather, "with girl capital the real estate broker Jonas could party with chief executives and Dre could dine with billionaires. "Clients are less likely to spend if they are surrounded by mere civilians," notes Mears, referencing the club lingo for people who are "neither pretty nor wealthy enough."
Someone with a table laden with bottles is one thing, but what really makes them stand out in a club, as well as on social media afterwards, are the girls around them. More important than all this, however, are the girls.
In one instance in 2012, whole champagne bottles were lobbed between Drake and Chis Brown resulting in several injuries. Champagne bottles become "the idioms of rivalry" notes Mears. This is not so much attention-seeking but attention-buying and at a high price.Īnd if there are two big spenders (or "whales" as they are known in clubs) they are put at VIP tables opposite each other in the hope that their oversized egos will fuel a spending war, and a healthy bar tab. This is known as a "bottle train" and the whole ceremony is designed to bestow recognition to its buyer. These normally arrive to VIP tables with fireworks in them and held aloft by attractive girls. It is the same reason champagne houses produce oversized bottles with glow-in-the-dark labels and names like Nebuchadnezzar. Unless everybody can see you spend stupid sums of money on your night out, what's the point? Or at least that's the rationale of the rich. FilmMagic The Secret Business Behind Billionaire PartyingĮver wondered why VIP areas in clubs are raised above others? (Or if you haven't, take a look next time you are allowed into a nightclub.) This is the clever bit.ĭrake and Chris Brown started throwing bottles of champagne at each other in a spending war that got. From promoters to champagne houses, businesses are able to exploit this insecurity for their own advantage. In fact, there is a whole industry set up to capitalise on this ritual of the rich. In spending on VIP tables and champagne, "the host loses a lot of wealth but gains recognition among his peers." Canoes or champagne: It is the same. Potlaches are competitive gifting ceremonies, where a tribal chief would lavish "gifts of considerable riches upon his guests to advance his title or rank." Sometimes these rituals would involve breaking canoes or burning things to show one's worth. "Potlach" was a term coined by anthropologist Franz Boas when studying 19th century tribes along the Pacific Northwest. He is pictured here with producer Swizz Beatz and Alicia Keys at the 2014 GRAMMY Awards in Los Angeles. Fugitive financier, Jho Low (right) reportedly spent over $1 million on a night out in the South of.