Browsing the archives for the multimillionaires tag.

Mistress market bottoms out as crisis sucks in millionaires, but toy boys spared a licking

US culture, US Economy

I’ve always wanted to be a Sun headline writer.

Soon it will be grape juice of wrath for mistresses, as the Moët’s off the table now multimillionaires are moved to downsize their despicable deeds of decadence. This shocking scoop comes courtesy of the Wall Street Journal (h/t TNR), which has its finger all over the pulse:

According to a new survey by Prince & Assoc., more than 80% of multimillionaires who had extra-marital lovers planned to cut back on their gifts and allowances. [..]

“Rich people are getting hit, and they’re all expressing the need to curtail unnecessary spending,” said Russ Alan Prince, president of Prince & Assoc., a wealth-research firm based in Connecticut. “Lovers are part of the same calculation.” [..]

Fully 82% of men in the study said they planned to lower the allowances to their mistresses, while more than three quarters planned to provide fewer gifts, less expensive gifts and fewer perks, like jet rides, resort vacations and top restaurant meals. [..]

“What we found in talking to the respondents is that the magic of the relationship with their lover fades after a while, so they’re more willing to let them go,” Mr. Prince says.

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