Yesterday, it was reported that supermodel Linda Evangelista is demanding $46,000 a month—yes, A MONTH—in child support from baby daddy billionaire Francois-Henri Pinault, who runs a fashion conglomerate that includes Gucci and Puma (and who happens to be married to Salma Hayek). But the reason question is, why does a four-year-old son of a millionaire supermodel need $46,000? Thankfully, there are lifestyle-management firms for wealthy families that can explain where that money is going!
The Wall Street Journal's Wealth blog spoke to "Natasha Pearl, president of Aston-Pearl, the New York-based lifestyle-management firm for wealthy families" who confirmed that $46,000 was actually not that much.
. Forget the nanny. Kids like Augustin need a round-the-clock child-care team, what the wealthy call “full, 24/7 coverage.” Ms. Pearl says that requires three nannies, with two rotating on full schedule and another as a backup. “And that third nanny preferably has some specialty skill, like teaching the kid Mandarin,” Ms. Pearl said. “And if he’s a boy, the third staffer might be a manny to run him around the park and throw him baseballs.”
Total cost: About $23,000 a month or more - half the total.
SCHOOL. Augustin is still in preschool, which means that rather than paying the $36,000 to $40,000 a year for private school, Ms. Evangelista only has to pay about $20,000 to $30,000 for a top preschool. That means his school bill - at least for now - is a mere $2,500 a month.
CLOTHING. You can’t be the son of Linda Evangelista and the world’s luxury king and wear Osh-Kosh. To sheath Augustin in Chloe, Berlingot and Jacadi (does Gucci have a kids’ line?) you’re looking at $3,000 a month minimum.
Throw in other activities and a driver, plus birthday parties and toys, Pearl says, "At first glance, $46,000 seems like an extraordinary amount and it is. But for a fortunate child in New York, it is actually absolutely conceivable that his expenses could approach $50,000 a month." Or, in the words of WSJ commenter 5 jobs, "I counted 5 full-time jobs in this setup - 3 nannies and 2 drivers. This is exactly the type of economic boost this economy needs. We need more rich bastards in this world…"