Tim Drazma, aged 45, represents the new generation of super-rich in America. In 1985, there were only 13 billionaires in the U.S., whereas now that number has surpassed a thousand. Add to that tens of thousands of millionaires and multimillionaires, and America has never had as many wealthy people as it does today. Their extravagant lifestyles have not been affected by economic recessions; their wealth continues to grow at an unprecedented rate. Many say they have ushered in a new "Gilded Age" in American history.
### Selling Companies for the First Fortune
Tim Drazma, who resides in Indiana, recently wanted to purchase a car. Instead of going to a local dealership, he flew directly to London, England, where some pretty good cars were being auctioned.
Drazma set his sights on a costly Rolls-Royce. "3.35 million pounds!" the auctioneer announced loudly into the microphone. The bidding quickly exceeded $7 million. However, due to the weak dollar, Drazma decided not to continue bidding and returned home empty-handed. Fortunately, he didn't need to worry about transportation.
In Drazma's two-story garage, there are about 20 luxury cars worth millions of dollars each. He owns no fewer than 70 cars in total, with over 20 located in Indiana and the rest scattered across various car museums and vacation spots throughout the U.S. How many luxury cars does he own exactly? Sometimes, even Drazma himself can't keep count.
Drazma is a financial investor with a net worth exceeding $75 million. He made his fortune through financing and trading, specializing in purchasing undervalued companies and then reselling them. His weakness is an irresistible attraction to luxury cars.
"There’s a nail in the tire," Drazma pointed to his Bugatti, "It cost me over $20,000. Not long after, another nail appeared."
Like most super-rich Americans, Drazma was born into a middle-class family. He graduated from Indiana University with a degree in mathematics and soon obtained a law degree, becoming a corporate legal advisor in the 1980s. Later, he started his own business, buying and selling small undervalued companies, renovating them before selling.
"In the beginning, I bought a forging company. I didn’t have much money back then, all of it borrowed. But I made around $15 million when I sold it. If your first deal is successful, it really helps your future development. That 'first pot of gold' pushed me to keep acquiring other companies," said Drazma.
### "Money No Longer Matters"
In 1998, Drazma founded his own company, a holding company that specializes in acquiring small and medium-sized enterprises. Since then, making money has become irrelevant to him; it merely adds to the enjoyment of life.
"I haven't seen anyone sitting there shouting 'I need to make another billion dollars.' Would another billion matter to Warren Buffett? No, he doesn't need it. He probably earned enough before he turned fifty. Since money no longer matters, why does he still work hard to make more? It's because it's a challenge. I think this is the true meaning of money," said Drazma.
Of course, for super-rich individuals like Drazma, money still supports their extravagant lifestyles. Drazma's mansion spans 3000 square feet (approximately 278.71 square meters), featuring 8 bedrooms, two luxurious kitchens, 3 bars, a home theater, a swimming pool, and a gym.
Despite the astonishing wealth Drazma possesses, he isn't a rare breed. In this new "Gilded Age," more Americans are rapidly becoming rich. Compared to their predecessors, they are younger, thanks to the rapid global economic development. Globalization has enabled wealth to circulate faster and in greater quantities than ever before. If you seize the right business opportunity, you can quickly become rich—not just rich, but super-rich.
### Spending Money Like Water "Is Part of the Game"
According to statistics from the Federal Reserve, nearly 50,000 families in the U.S. have assets ranging from $50 million to $500 million, while over 120,000 families have assets between $25 million and $50 million.
Historian Ron Chernow, who wrote biographies of the last "Gilded Age" figures—financier J.P. Morgan and oil tycoon John D. Rockefeller—was surprised not by the capital amounts of today's super-rich but by the sheer number of individuals within this group.
"The breadth and depth of this phenomenon are unprecedented," said Chernow. "We've never seen such an explosion of wealth, it's almost a carnival of riches. The only resemblance is that, like the tycoons of the late 19th century, they pursue lavish lifestyles and extravagant consumption patterns."
The American economy has experienced several leaps in technological innovation, each time creating new wealth through new technologies and ideas. In the second half of the 19th century, following the American Civil War, the development of railways, telegraphs, telephones, movies, and photography gave rise to numerous emerging industries. "These emerging industries subsequently produced a batch of new rich individuals whose luxurious lifestyles influenced the entire American society, which is why that era was called the 'Gilded Age,'" said Chernow.
Although times have changed and the ways of getting rich differ, according to Chernow's observations, there is little difference in what the new generation of super-rich and the previous one enjoy.
"Super-rich individuals love mansions, love collecting large amounts of art, and love luxurious yachts. The same applies today, with the only obvious difference being that in the first 'Gilded Age,' the wealthy enjoyed private trains, whereas in today's 'Gilded Age,' they buy private jets."
This statement perfectly aligns with Drazma's lifestyle. As a single father raising four children, he often takes his private jet to anywhere on Earth for a moment of peace. Every year, he visits Miami several times, where he owns a yacht with four bedrooms. Each month, the mooring fees for this $6 million yacht amount to $5,000.
To ordinary people, this seems like throwing money away. But Drazma believes it's part of the game. Although he insists these are external possessions, he feels no guilt about leading such a luxurious life: "I think it's something many people dream of."
Source: 88fa Franchise Network http://www.88fa.org/, Original article: http://www.88fa.org/post/32.html