The rich continue to get richer. The 400 wealthiest Americans account for more than $2 trillion worth of wealth combined, according to Forbes 400 editor Luisa Kroll, with the average list maker’s fortune growing to $5 billion, a $300 million gain from last year. That ever-increasing mountain of money can be chalked up to a variety of factors, but among the most notable is the recovery in real estate.
But billionaires haven’t just enjoyed renewed price appreciation on their luxury property portfolios, they’ve been adding to them. Over the last 18 months America’s wealthiest have splashed out record sums for coveted trophy homes in America’s most expensive ZIP Codes, on America’s most exclusive streets.
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