How the rich pamper their pets!!
We all have heard about Leona Helmsley(owner of the Empire State building) who passed away in late August, left a trust fund of $12,000,000 (yup, that’s 12 million dollars) to her dog, “Trouble” for the dog’s care.
According to an article by Liz Moyer of Forbes.com, this behavior is not rare among the rich. For many of the super rich, the only true love that they experience is the love they get from their animals. Remember, dogs don’t understand dollars and cents. Many people who are extremely wealthy are estranged from their family, friends and business associates, not knowing if those close to them are sincere or just there for the bucks. But dogs are different. They are loyal loving companions and according to those who have the money, those dogs are worth every penny that is spent on them.
Russ Alan Prince of Prince and Associates keeps tabs on the habits of the rich and he says that on average the very wealthy spend an average of $304,000 annually on their dogs. He calls these pet owners “pet-focused” and says that the very rich spend money on their pets for “life enrichment” services, such as deep muscle massages and psychic readings….when was the last time you had either one of those?!
It may be hard to believe, but pet-focused dog owners spend about $25,000 a year on just the pet’s wardrobe alone. I don’t think I’ve spent $25,000 on my wardrobe in my entire life, but that’s another story.
Pet trusts are becoming more and more popular as dogs are becoming more and more of part of families, not just the family dog. There are now laws governing these trusts in over 39 states and there have been more than just a few custody battles over the family dog when there is a separation or divorce.
The irony of all of this money talk when it comes to the dog, is that these wonderful pups have no concept of money; they could live without the private jets, muscle massage or fancy wardrobe. All they want is a family they can love, greet at the door, and lay next to on the bed. Whether the bed is covered in Egyptian cotton sheets and cashmere is of no concern to them, as long as there is a warm buddy with whom they can share that bed.
For tips on world travelling with your pup, check this entry out:
http://www.worldtravelerjournal.com/tips-for-traveling-with-your-dog/
October 18th, 2007 at 3:17 pm
This woman is aboslutely mad. But I might do this when I get older.. he he.. She definately knows how to slap her family in the face, even when she isn’t living.
March 26th, 2008 at 2:49 am
ok that just kinda redikulose i mean 12 million dollars wats her dog gonna do with that? i mean she could have given it to the poor or somthin
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