More and more millionaires feel like their pets truly are their best friends as those loyal companions are not in it for the money…or are they? HNWIs are ready to spend a fortune over their precious animals and more and more focus is given to their well-being with products ranging from luxury jewellery and collars to expensive silk sheets for their beddings. Other valuable items include haute raincoats, pet perfume, premium meals and even litter “cabinet”.
Another way the rich pay back for the tremendous joy their animals give them is by pampering them. Pets can now experience luxurious treatments just like their owners: massages, spa treatments, acupuncture and aromatherapy are just some of the possibilities. Abu Dhabi saw the opening of its first luxury pet hotel two months ago. The whole point of this concept is to offer the pet a lot of personal attention in a relaxing environment, enjoying flat screen TV among other things. Other wealthy pet owners will opt for a get-away-weekend flying off to an animal holiday resort via a pet airline.
This year, the pet supply industry has become the 7th largest retail industry in the US, exceeding the jewellery and hardware industries.
Some wealthy people are so dedicated to their pets that they treat them as their real children and even consider them in their wills. That’s how Tommaso, a cat in Rome, built up a fortune of $13 m alongside owning properties in Rome and Milan.
Similarly, the German dog Gunther III inherited $124 million from his owner Karlotta Liebenstain when she died in 1992. Following Gunther III’s death, his son, Gunther IV, inherited his father’s fortune, making him the richest dog on the planet with a fortune reaching $372 million! While the actress Beryl Reid left her stunning $1.8 million house to her cats, Hamish, Boon, Eileen, Coco and Tuffnel. We wonder what will happen to their pet fortunes once their time comes, all we know is to expect a very fancy funeral.