The average Bugatti owner has 84 cars, 3 jets and one yacht(worldcarfans.com)
worldcarfans.com
The average Bugatti owner has 84 cars, 3 jets and one yacht
http://www.worldcarfans.com/114100582332/the-average-bugatti-owner-has-84-cars-3-jets-and-one-yacht
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The article talks about the Bugatti Veyron. According to Wikipedia only 405 were sold [1]. The owner of the largest private car collection (7000 cars) has one of them [2]. The average is a pretty uninformative number, just like the average valuation of a YC startup.
[1] http://en.wikipedia.org/wiki/Bugatti_Veyron#ref_1
[2] http://www.therichest.com/rich-list/the-biggest/the-10-bigge...
[1] http://en.wikipedia.org/wiki/Bugatti_Veyron#ref_1
[2] http://www.therichest.com/rich-list/the-biggest/the-10-bigge...
I guess another one must be owned by an airline, to get the average number of jets up to 3.
In fact it us fairly clear that the actual number is made up.
One reasonable and fair way to interpret this is that Bugattis are among the least desirable vehicles known to the planet, and only of interest to hyper collectors interesting in obtaining "complete sets".
Note that the arithmetic mean is very outlier sensitive.
Top person would need to own ~30k cars, and rest can own just an average of 8 for combined arithmetic mean of 84.
Essentially all this number tells us that 400 people who own Buggati collectively own ~33600 cars total.[0] For example Jay Leno alone owns 886 vehicles according to his wikipedia page. [1]
[0] This has assumption that no one owns, more than 1 Buggati car which is probably incorrect, so I expect actual number of cars owned by Buggati owners to be in the ballpark of 24-26k.
[1] http://en.wikipedia.org/wiki/Jay_Leno
Source: I own an oldish budget friendly Nissan, which clearly makes me an expert.
Essentially all this number tells us that 400 people who own Buggati collectively own ~33600 cars total.[0] For example Jay Leno alone owns 886 vehicles according to his wikipedia page. [1]
[0] This has assumption that no one owns, more than 1 Buggati car which is probably incorrect, so I expect actual number of cars owned by Buggati owners to be in the ballpark of 24-26k.
[1] http://en.wikipedia.org/wiki/Jay_Leno
Source: I own an oldish budget friendly Nissan, which clearly makes me an expert.
I can imagine one person with 1000 cars, and one person who drives his Veyron to his 9-to-5 because that's the only car he could afford.
That's an interesting idea.
Image Fred Everyman. For some reason, the only car he can afford is a Bugatti Veyron, and he needs a car to get to work. How much does this cost Fred?
A basic new Bugatti Veyron seems to cost about $1.55 million. A normal car loan is for 3 or 4 years, but let's assume Fred can get a 30 year loan. He's got pretty good credit, and he ends up with a 4% interest rate. Unfortunately, Fred also needs auto insurance, which for a Veyron will run about $50,000 per year.
Fred's loan payment is about $7900/mo, and his insurance payment is about $4166/mo. Oh, and a Veyron only gets about 7mpg in a city, so we'll say his monthly gas bill is another $300.
Add that up, and Fred needs to make $12366 per month, post-tax, just to pay for his car (not counting tires, tune-ups, fixing the paint after people tag it). In order to have $12,366 of monthly net pay, Fred needs an annual pre-tax salary of around $315,000.
So a $315,000 yearly salary will allow Fred to own his Veyron in 30 years. If he wants to eat food or live somewhere, though, he'll of course need more.
(Warning: I almost certainly made at least 3 major mathematical or accounting errors in there somewhere).
Image Fred Everyman. For some reason, the only car he can afford is a Bugatti Veyron, and he needs a car to get to work. How much does this cost Fred?
A basic new Bugatti Veyron seems to cost about $1.55 million. A normal car loan is for 3 or 4 years, but let's assume Fred can get a 30 year loan. He's got pretty good credit, and he ends up with a 4% interest rate. Unfortunately, Fred also needs auto insurance, which for a Veyron will run about $50,000 per year.
Fred's loan payment is about $7900/mo, and his insurance payment is about $4166/mo. Oh, and a Veyron only gets about 7mpg in a city, so we'll say his monthly gas bill is another $300.
Add that up, and Fred needs to make $12366 per month, post-tax, just to pay for his car (not counting tires, tune-ups, fixing the paint after people tag it). In order to have $12,366 of monthly net pay, Fred needs an annual pre-tax salary of around $315,000.
So a $315,000 yearly salary will allow Fred to own his Veyron in 30 years. If he wants to eat food or live somewhere, though, he'll of course need more.
(Warning: I almost certainly made at least 3 major mathematical or accounting errors in there somewhere).
E.G. People named Bill Gates have a lot of money on average.
Especially when there are relatively few cars. Last December they announced selling their 400th Veyron.
Yeah, it seems like the median should be much lower.
Is that an actual figure or just a tongue-in-cheek quote from the CEO?
Well, they're quoting him, and people get impressed by big numbers...
Veyron is a kind of research experiment for VAG. It might be $2M for an example, but they lose something like $1.5M per car. It's just like the Lexus LFA being a test bed for carbon fiber manufacturing techniques.
Veyron is a kind of research experiment for VAG. It might be $2M for an example, but they lose something like $1.5M per car. It's just like the Lexus LFA being a test bed for carbon fiber manufacturing techniques.
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Its a tongue in cheek made up number.
I am not sure why people are giving so much importance to this. A Bugatti owner is likely to be very rich with several business interests. Such business interests often require lot of transportation and people end up buying many cars.
I dont think by 84 cars it actually means a person owns a giant parking lot in front of this house and picks a car at random each day. He might have 4 cars at his home and others at different places in the world where he has to travel often.
I dont think by 84 cars it actually means a person owns a giant parking lot in front of this house and picks a car at random each day. He might have 4 cars at his home and others at different places in the world where he has to travel often.
I believe that's why car rental places exist. Unless you seriously need to have the same car at all of the locations you travel to, which is not rational.
I'm guessing he was just being expressive rather than reporting serious findings. For one, there would be more yachts than jets.
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I've never met a billionaire who's into ostentatious displays of wealth, but I imagine them as giant assholes that I would not want to hang out with.
I happened to meet a Chinese-Malaysian billionaire. He had a few cars: One Mercedes, one BMW, and one Perodua Kancil, which is a little shit-box. They drove the Kancil most of the time around town.
The original link makes clear this is totally made up. Don't have time to find it.
How are we benefited as a society by enabling the concentration of wealth such that this outcome is possible?
Well for one, it gives people something to complain about, and people do love to complain.
84 cars? thats dyogenes syndrome luxury version of the pathology.
That means the Bugattis' never get out of the garage.