The March 2005 issue of "Go" magazine, published by Airtran Airlines, has an article about Elton John that discusses his musical career, his "gay activism" in raising and donating millions for his AIDS charity, and his extravagent personal spending habits.
On the latter, the article tells of how Elton once went on an $80 million shopping spree in a 20 month period, even spending $200,000 on flowers "because I like them." In one year he spent $18 million on house purchases around the world, and owns more than 2500 paintings, some of which are worth a million dollars or more.
When asked why he spends the way he does, Elton replied:
"I have no one to leave the money to. I'm a single man. I like spending money" (p. 74).
He's gay and childless, and so he naturally has a high rate of time preference. This ought to give the UNLV commissars and speech police the vapors.
