Approximately 20% of Russians earn less than $410 US per month. Yet the country now has an estimated 33 billionaires and about 90,000 millionaires. In fact, more rich people live in Moscow than New York City.
So it should come as no surprise that Moscow’s October Millionaire Fair drew flocks of folks ready to plunk down $1.27 million for a diamond-encrusted cell phone, $500,000 for a racehorse, $70,000 for a mini-airplane, $1.7 million for a Bugatti automobile, or even $64,000 for a unique, single-person fragrance. And more than 200 companies from all over the world offered special luxury products to the nouveau riche.