How much money do you need to be rich?
I answered this question before, and I agree with the answer.
The answer means that Steve Bannon qualifies as rich because he’s said to be worth $10 million, and my previous answer was the rich begins at a net worth of around $7.5 million.
You may wonder how much a three bedroom coop in Manhattan plus a summer home in the Hamptons costs? Let’s say $2 million for the coop and $1 million for the summer home. With a net worth of $7.5 million, that leaves $4.5 million left over to pay for private school education for your children, two international vacations per year, maintenance on the coop and the house, and a car (plus $600/month for parking in Manhattan) to drive from your coop out to the Hamptons.