Where the richest people in the world spend the December holidays
As the holidays approach, the ultrawealthy will decamp to some of the world's most expensive destinations.
Whether aboard yachts or ski lifts, the 0.01% tend to travel to familiar locales.
Here's a look at some of the most popular places for the rich during the holidays.
Deck the gangways with boughs of holly.
Billionaires are deploying their private jets and superyachts in preparation for the holiday season, with many headed to familiar hot spots.
Each December, the richest among us depart for expensive destinations to enjoy time with their families — and often other billionaires.
This year will be nothing different.
"It's going to places that are exclusively pretty much high net worth," Winston Chesterfield, the founder of Barton, a consulting firm focused on luxury and the wealthy, told Business Insider. "They want these private resorts away from everyone else because they don't want to be around everyone else."
Many of the world's largest yachts have already sailed to warmer waters.
Jeff Bezos' yacht Koru and Barry Diller's Eos are both floating in the Caribbean Sea, according to ship tracker Marine Traffic. Eric Schmidt's Whisper is headed to Barbados, and Len Blavatnik's Odessa II was most recently docked in Antigua.
Once their billionaire owners are aboard, several of these ships will likely make their way to St. Barths.
"I always say if you want to have your toes in the sand and eat a croissant that feels like you're in Paris, St. Barths is the place for you," Elisabeth Brown, the membership director at luxury concierge service Knightsbridge Circle, told BI.
Known for its exclusivity, fine hotels and restaurants, and natural beauty, the island has been a favorite among the uberwealthy for decades. Rockefellers and Rothschilds built estates there in the mid-1900s.
Last year, Bezos, his fiancée, Lauren Sánchez, and Michael Jordan were spotted on St. Barths, and David Geffen's superyacht, the Rising Sun, was seen nearby.
For those who don't stay on yachts, popular luxury hotels like Eden Rock and Cheval Blanc, owned by billionaire Bernard Arnault's LVMH, cost upward of $5,000 per night for a room at this time of year.
The less expensive hotels aren't exactly cheap — which is part of the appeal. A room in the least expensive hotel available for the week between Christmas and New Year's costs more than $3,000 per night.
"There is nothing mass-market about it. It's impossible to be there unless you are really wealthy," Chesterfield said.
Other superrich travelers opt for colder destinations, choosing to embrace the winter weather.
"The holidays in the mountains are more of an escape than any other holidays, even escapes to their own remote private islands and things," Chesterfield said.
In Europe, that means the Alps. Gstaad, St. Moritz, Courchevel — which was a favorite of Russian oligarchs — and Val-d'Isère are classic choices for the ultra-high net worth set, Chesterfield and Brown said.
Recently, Chesterfield said he's seen some choose quieter destinations, like Crans-Montana in Switzerland, where billionaire Vicky Safra has a home, or Kitzbühel, Austria.
"You're less likely to bump into people that you know there," he added.
Some of the very wealthy own eight-figure chalets that they rent out for as much as $40,000 a week during peak season. Real estate prices continue to rise in these locations, with homes in Gstaad, the most expensive locale, costing 41,500 euros per square meter (about $43,350), according to property consultancy Knight Frank's 2024 Alpine Index.
Buying luxury condos within resorts, like the Six Senses in Courcheval, is becoming more common, too, in large part due to the amenities, which include spas, saunas, ski valets, and concierges.
Stateside, Aspen remains the most elite ski resort.
The town has the highest density of residents worth more than $30 million in the US, according to a 2023 study by data firm Altrata. Billionaires like Steve Wynn, Daniel Och, and Terry Taylor own homes there, and in recent years, wealthy celebrities like Rihanna and Kylie Jenner have been photographed downtown during the holidays.
"It is the closest you'll get to a European après situation," Brown said. "Great mountains, great skiing, the hotels are top-notch, the restaurants are awesome."
There's a restaurant by chef Nobu Matsuhisa, designer shops like Prada and Gucci, and private clubs to make the uber-rich feel at home. Plus, there are plenty of top resorts like the St. Regis and Little Nell, where rooms cost four figures a night.
Of course, sometimes billionaires are just like us — at least kind of. One of Brown's clients is gifting their family a trip to Disney World, though it will cost more than the typical American family's vacation to Cinderella's Castle.
"It's a few days, for about seven or eight people. It'll probably end up being $75,000, give or take," Brown said.
Read the original article on Business Insider
