Wall Street bonuses could be the highest in a generation this year. KevinTDugan reports on what the biggest earners do with all that money
“We got a Maserati, and then we got a Ferrari, and then we bought a new boat,” says one Wall Street veteran. Photo-Illustration: Intelligencer; Photos: Retailer/Getty Images On Wall Street, 2021 will be remembered as the year things got really weird and everyone got crazy rich.
But of course, it’s not all prudent investing and planning for the future. For Wall Street’s flashiest, the super-yacht — 160 feet or larger, some with their own helipad and smaller yachts attached — is the item to splurge on. “We’re working with two new clients right now that came up in the last week, that are in finance in New York, and one of them’s looking at around a $20 million purchase.
Real estate is, by far, the big draw for Wall Street’s elite — and this year, with luxury prices in New York City still far from their 2017 highs, brokers with a flood of money coming in are expected to buy up new condos and buildings. “There’s definitely a relationship between bonus payout and an uptick in real-estate absorption. No question,” Frances Katzen, a broker at Douglas Elliman, said.
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