A Hobby for Rich People: Collecting Passports

Rich people have a unique way of looking at the world. They see it as one big playground to experience when money is not a problem. Why limit yourself to just one city to eat in when you can have breakfast in Capetown and dinner in New York? This kind of behavior is happening more and more everyday as more people are getting rich. Now that we have apps that you can use to get a private jet any time you need one it is easier for people to get around the world. They no longer have to wait, they can come and go as they please, and this is exactly what they are doing.

The issue of getting around though, especially those with deep pockets, means that they have to meet country requirements when visiting so many places. For many rich people the idea of citizenship has its perks (i.e., investments, real estate, new businesses, etc) but obtaining one comes with restrictions, cost. The high rollers are not dissuaded by the high ticket price these countries are putting on getting a passport, which many locals find damaging to their economy, because they are able to pay the million or more price tag that comes with getting one. In many cases it might take a couple of years for all the paperwork to go through and the background checks to be done thoroughly and so on, but that has not stopped many rich individuals to ask if there is a faster way. This very action has now led more countries to offer a “fast-track” for obtaining a passport, so instead of, say, 4 years, you can pay more and get it in 2 years. Not bad for an extra million or so but what’s that to someone who makes that back in a day or two, right?

Books like Plutocrats and Superclass show that the rich get richer because they have access to more resources. Those resources are found mostly in social connections. For example, Why go through the normal route of obtaining a passport, the same way everyone else does, when you can ask your friend, who works in a special department, to expedite your request for you, leaving everyone else out in the cold? These actions happen all the time and because they can afford to pay for these special requests they can move faster in life.

There are a lot of political issues surrounding rich people going around collecting passports which mainly have to do with the economic impact they have on their host country. If you think of it like this you can see the bigger picture; imagine that you live in this nice coastal town that is far away from the city and life there is very quiet and serene. Prices for home have been stable for a long time with very little development taking place in the last few years. Most of the people get around by bike or walking with a few cars here and there. Then all of a sudden a rich mogul moves in and builds a huge château on a seaside cliff over looking the bay. This sudden development changes the economic conditions of the community there, suddenly more people have jobs, the price of land goes up, and conditions improve just for a short period of time. But remember, where rich people are, more are soon to follow, and invest.

There is a lot to be said about rich people and their lifestyles. For one they help push development for the world, but they also make it harder for those without money to keep up. To learn more about this new trend that is happening you can read the article below and see why the world is changing faster than most would like it to. Afterwards try and read those two books mentioned, then you will learn why inequality will never be fixed.

News Article

Some of the Rich Collect Art, others collect passports

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