You’ve been bequeathed a small fortune from your wealthiest client, had a hefty pay rise, or just found out that your golden handshake makes Angela Ahrendts’ look like small change. All to worry about now is how to spend it… Thank goodness, then, that Laura Powell is on hand to bring you six of the best ways to fritter away that extra £1m
1. Treat yourself to two car parking spaces in Knightsbridge. The bad news is, had you bought them one year ago they would have been a whopping 31% cheaper. But the good news is, at £400,000 a pop you’ll have enough leftover change to loan a private box at the Royal Albert Hall, which is just around the corner. To snap them up, contact estate agents Hobart Slater.
2. Nine shares in Berkshire Hathaway. Betting is a mug’s game. Instead pour your spoils into a surefire bet – nine shares in celebrity stock picker Warren Buffett’s property and insurance conglomerate, Berkshire Hathaway. When this article was published, shares were priced at $191,300 (£114,000), making them the most expensive stocks in the world.
3. One night with Beyoncé. The price for a private performance from the singer has shot up since 2005 – from £750,000 (how much Sir Philip Green reportedly paid for Beyoncé to perform at his son’s Bar Mitzvah) to more than £1m. Or roughly £200,000 per song... Alternatively you could hire George Michael, Tom Jones or Rod Stewart for a similar fee. Unfortunately, the Eagles are out of your price range. Rumour has it, they charged almost £4m to perform Hotel California at a private party…
4. Join the world’s poshest dog owners club. At £1.2m a piece, they’re slightly over budget. And at 90kg, they’re a touch overweight too. But owning a Tibetan mastiff is an instant status symbol (in China) and gives you automatic membership to the elite Tibetan mastiff owner’s club, whose members include a multi-millionaire Chinese property developer and a coal baron.
5. A new Hermes Birkin every month for the next four years. At £17,800 a piece (from Matches), the vintage Birkin 40 is a steal with a budget your size. So you could invest in a new one every month, each in a different colour. Or you could mix it up and vary your monthly buys – perhaps The Row’s Alligator tote (£24,218) for August, and Ralph Lauren’s Alligator Ricky (£17,145) for September.
6. Migrate to Necker Island for winter. Exclusive use of Sir Richard Branson’s Necker Island in the Caribbean will set you back £39,000 – for one night. So for £1m, you could afford to migrate there for the best part of January. With energy bills skyrocketing in the UK, we can’t think of a more sensible investment.
Source: Economia, an ICAEW Magazine.
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