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To Jeff Bezos, spending $88,000 is equivalent to the average American spending $1.
- Billionaires typically can afford to spend $80 million a year, while most Americans earn less than $60,000.
- While some billionaires live below their means, many spend their billions on real estate, private jets, yachts, and cars.
- Despite their lavish indulgences, many billionaires also donate billions to charity.
It's hard to fathom life as a billionaire.
Business Insider previously calculated that the typical billionaire can afford to spend $80 million a year, while most Americans earn less than $60,000. And for the world's richest billionaire, Jeff Bezos, who has an estimated net worth of $156 billion, spending $88,000 is similar to an average American spending $1.
Where does one even begin to drop such billions?
While some remain somewhat frugal, such as Warren Buffett and Mark Zuckerberg, others are known to drop money on more lavish items. A sprawling real estate portfolio is a staple for billionaires, as is lavish means of personal transportation - think private jets, colossal yachts, and expensive cars.
But while many billionaires are known to indulge, they're also known for their philanthropic efforts and donating billions to charity.
See how billionaires spend their billions.