The Super-Rich: 5 Multi-Millionaires Explain Why They Keep Working

Income inequality is now at its highest levels since the Great Depression, and as this gap has grown, so have our fantasies of the idle rich, from the Kardashians to "Real Housewives." But many of the mega-rich have gotten mega-richer, with no plans to quit for a life of gentle tanning.

Writing for Forbes, Larissa Faw examines why some people continue to work, despite having enough money to spend the rest of their days sailing the Aegean, and hiring tiny fish to nibble at their feet. But from their own mouths, here are why five high-rolling individuals keep their noses to their golden grindstones:





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Claire Gordon

Staff Writer

Claire Gordon has contributed to Slate's DoubleX, the Huffington Post, and the book Prisons: Current Controversies. While an undergraduate at Yale University and a research fellow at Yale graduate school, she spoke on panels at Yale and Cornell, and reported from Cairo, Tokyo, and Berlin.

Follow Claire on Twitter. Email Claire at claire.gordon@teamaol.com. Add Claire to your Google+ circles.

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ycplum

Some people simply enjoy the problem solving aspect of their job. Personally, I would prefer to solve a different problem, like how to catch a bigger fish, squeeze abit more speed out of the wind on a sailboat, or how to get my girlfriend in the mood. Too each their own.

February 06 2013 at 6:08 PM Report abuse rate up rate down Reply
posthuf

>"Why Do Multimillionaires Keep Working?"<

So they can stay in office.

There are two basic types of rich: Asset rich and earnings rich.

Earnings rich are still in the process of earning money to invest. Asset rich live off their assets. They may work if they wish, but they don't need to.

Take Warren Buffett - please!

He pays less taxes than his secretary, yet lives so much better than she. How? She works for a wage. Last report was he paid her $346,000 per year. (That's above the obama $250,000 millionaire cut-off), while he pays himself $200,000 (which is below the cut-off).

Under obama's new tax plan, her taxes will increase to 40% (earned income tax bracket). Buffett's, on the other hand, will only go to 20% (max capital gains rate).

She, and others in her situation, will never earn/save enough to be as rich as Buffett. Buffett, on the hand, will never see a decrease in his style of living because no matter how bad the market gets, he's not going to go broke.

And that's the name of THAT tax tune!

February 06 2013 at 12:10 PM Report abuse rate up rate down Reply
richardking77056

What else can you do? I am old and have more money than I can ever spend. Working is my only pleasure in life. I am too old and lame to go on safari, go fishing in the pacific, travel in Europe. but what I can do is keeping going to my office. I enjoy it. I see my children like everyone else, but they have their own lives and live in other cities. \"Study, Study, Study\" said Lenin. \"Work, Work, Work\" said Ari Onasis. Both good pieces of advice.

February 06 2013 at 10:58 AM Report abuse rate up rate down Reply
jpeardm

It's always the same rhetoric from many posters that wealth equates greed and unhappiness. Sure there are some that broadcast that stereotype but for most it's about passion and challenge and accomplishment that drives someone to success. In many cases this success results in wealth from a thriving business or carrer. Wealth does not automattically breed unhapiness. Most wealthy people are sharing their good fortunes in many ways more than you will ever know, quietly and generously. There are many, many "millionaires next door" that lead unassuming lives but contribute positively in all sorts of ways within their communities.

February 06 2013 at 9:25 AM Report abuse rate up rate down Reply
eastorbuny

Intesting that 5 millionaires are profiled for this story. That is the exact number of millionaires that I know. They all started out from humble beginnings andare now wildly wealthy. The one common thread between them all is that their singular goal in life was to be rich and focused on that goal daily. Not focused on hapiness or a fulfulled life, just acquiring wealth. The persuit of wealth was so grueling they were all left bitter, andgry and unhappy and utterly compelled to keep going at any cost. Without exception they're all bitter and miserable people. All 5 of them. Yes, anyone who puts their mind to it can be wealthy in America. The cost? Emotional security, happiness, love, compassion. It's one or the other. Emotionally secure, happy, loving and compassionate people will never attain vast wealth. Choose wisely.

February 06 2013 at 8:17 AM Report abuse rate up rate down Reply
1 reply to eastorbuny's comment
richardking77056

So wrong Eastorbunny

February 06 2013 at 10:59 AM Report abuse rate up rate down Reply
sam59USN

A multitude of reasons, personal insecurity, they enjoy work to the extent its not work, they worry about the future, etc. That said, I retired in 1996 after a career in Marketing that I loved, and have never looked back, we live once, and I watched numerous friends, and co-workers die young, with the wealth to have retired young, and they all regretted not spending more time at home, with family, exploring subjects of interest. None died stating, they wished they had worked harder.

February 06 2013 at 7:41 AM Report abuse rate up rate down Reply
liondog96

I worked for a self-made millionaire. It was a roofing company he owned. There is no type of construction training for a roofer. You must be a serious professional do do roof construction. I did drafting for this company.

February 05 2013 at 11:55 AM Report abuse rate up rate down Reply
brennemanbelkin

If you do what you enjoy for a living, you'll never work a day in your life.

February 05 2013 at 11:54 AM Report abuse rate up rate down Reply
rkeeeballs

Poor and happy....I'm out fishing right now....get back to you ...whenever ....yup.

February 05 2013 at 10:47 AM Report abuse rate up rate down Reply
dkuna

It's funny that the reported highest level of "income inequality" corresponds to the highest ever number of people on the goverment dole. It's hard to get rich sitting on your ass waiting for your goverment check. Pretty soon they are going to direct deposit so the parasites don't even need to get off the couch.

February 05 2013 at 9:11 AM Report abuse -1 rate up rate down Reply

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