Here's what it costs to live like a billionaire

By LuxuryFOXBusiness

Luxury yacht industry under assault by tariffs: Gerri Willis

FBN's Gerri Willis talks to Regal Boats CEO Duane Kuck about the impact of tariffs on the industry and consumers.

So much for keeping up with the Joneses: The price for keeping up with Bill Gates and Jeff Bezos has been getting costlier, according to Forbes.

Continue Reading Below

Forbes’ basket of 40 luxury goods is up 2 percent since last year, about half a point higher than the increase witnessed in 2017, as the ultra-rich are spending more on Champagne and luxury sailboats. But spare your concern for the world’s elite; their caviar costs held steady.

The world’s wealthiest are spending 3.2 percent more on entertainment and toys. A case of 750-milliliter Dom Perignon 2009 has gone up to $2,039 – a 6.3 percent price increase from last year.

The entertainment and toys enjoyed by the elite went up in cost by 3.5 percent, led higher by pricier sailing yachts. An Oyster 595 will set buyers back by $2.5 million, an 8.7 percent increase year over year.

But being dressed to the nines will only cost a little more: Fashion costs only went up by 1 percent, although there were some big swings on  fashion goods tracked by Forbes. A black jersey dress from Gucci is now $1,900, 11.8 percent more expensive than last year. For those who are buying a whole ensemble, the good news is the dress is essentially free if paired with a Russian sable coat. The coat, at Bloomingdales, has “plunged” in cost by 15.1 percent to a paltry $225,000.

It is no easy feat for the ultra-wealthy to keep their households up to snuff to impress their billionaire friends. The biggest increase in this category assessed by Forbes was for an Olympic-size swimming pool, which will cost $2 million, up 8.8 percent compared to last year.

More from FOX Business

Facelifts, psychiatrists and lawyers’ fees are all steady, year over year, but when it comes to the services that the rich purchase, education became a little pricier. Harvard hiked tuition by 3.2 percent, while tuition and room and board at Groton School, the prestigious secondary school, increased by 1.5 percent to $56,550.

Travel costs are up, year over year, thanks in part to a one-bedroom suite at the Four Seasons, during the off-peak season in New York, increasing by 5.4 percent to $4,650 per night, while Louis Vuitton hiked the price of its Keepall Bandoulière 55 travel bag by 4.8 percent to $1,845.