The Gilded Cage

Most of the billionaires I've come across prefer to stay out of the spotlight. It's an interesting dilemma because wealth tends to draw attention, but the type of attention you attract often depends on how you make your money. For example, if you own a multi-billion-dollar makeup brand, you're likely to be a household name. But if your fortune comes from, say, a multi-billion-dollar roofing company, you're more likely to fly under the radar. Roofing may not sound glamorous, but trust me, it's just as profitable.

And then there are the billionaires themselves. Some keep it so lowkey you'd never guess their net worth. Recently, I met with a client at a Starbucks in jeans and sneakers. On the flip side, I last year, I met another client who rolled in with more security than the president. Streets were blocked off, SWAT teams were sweeping the area, helicopters overhead—it was a spectacle. Then there's the other type—those who seek the limelight. It's not shocking when you think about it. People like Kim Kardashian are famous because they're famous, and they embrace the attention.

Others, like Elon Musk, are blatant narcissists and thrive on validation. But whether they bask in fame or avoid it, one thing remains constant: privacy is critical. I always advise my clients to sign confidentiality agreements and keep their inner circles tight. But sometimes, all it takes is one loose-lipped bystander to upend their lives. I had a $45M deal unravel because of this. And safety is a growing concern for the ultra-wealthy these days. It makes sense—if a former president can be targeted while surrounded by Secret Service, what hope do other high-profile people have? Look at what happened this summer: Taylor Swift had to cancel concerts in Austria due to terrorist threats.

Even Dan Campbell, the head coach of the Detroit Lions, was forced to put his home on the market this week because angry fans found out where he lived and started making threats. That's wild. This, in turn, has given rise to a new trend among the super-rich: luxury bunkers and safe rooms. Demand has skyrocketed in the last 24 months, and a whole industry has emerged to cater to these needs. There's even a real estate brokerage that specializes in selling high-end bunkers. In my 30 years in this business, I've never seen security be a bigger priority. Buyers are actively seeking buildings with private or underground entrances, multiple layers of security, and, in some cases, bulletproof glass.

And some wealthy people are taking it to the next level. Take Mark Zuckerberg, for example. He's spent years assembling a massive estate in Hawaii, and rumor has it he's building a $260 million luxury compound that includes an underground bunker big enough to fit two homes. It's going to be entirely self-sustaining, producing its own food and water. Of course, the need for security isn't new. Wealthy people have always sought protection—that's why knights, guards, and private armies existed centuries ago.

But as the world gets more unpredictable, the rich are less willing to trust local authorities to keep them safe. They're taking matters into their own hands. So, while the idea of having billions may seem appealing, it comes with its own set of problems. The gilded cage is very real.

SideBar I've got a book recommendation that I'm really excited about. It's The Women by Kristin Hannah. My wife couldn't stop talking about it, and even Bill Gates added it to his summer reading list—his only fiction pick. The story dives into the Vietnam War from the perspective of the women who served. I haven't read it yet, but it's next on my list.

Can't wait to dive in!

Let’s do this. 

Shaun