Above All Else. Image.

13H30 is 14H00 on Billy’s R68 000 birthday present watch bought for him by his boss. For a PA, he is late for our meeting! He also thought it a good idea to get a little high-fashion shopping done, whilst we chatted. Billy’s profile reads: PA to the CEO of ACG International, a global network that works with the rich and fabulous”.

Through an associate, we met Billy at a millionaire’s party that he organized a while  ago in the luxurious and decadent suburb of Houghton, Johannesburg. He has agreed to squeeze  us into his busy schedule  as a favour to a friend of a friend (only the rich!).  Billy is really living it up at 28, working for a Luxury Lifestyle Private Aviation company that hosts some of the world’s most notorious dignitaries. He has met Mandela, Jacob Zuma, Richard Brandson, Oprah, Patrice and some royal families.

Billy knows a lot about the rich and fabulous. He told us that the richest of the rich still love flashing their wealth, they still love showing off their possessions, and, with his portfolio of  South African clientele, those in the money game were still spending their money even in the recession.

“People are still buying diamonds, hosting parties and investing in art, I tell you. A significant amount of individuals are still buying luxurious goods because now more than ever they believe that the purchase of luxury goods is a significant investment.”

These individuals want to look good and even though they may be a little knocked by the crisis, they are still taking risks to maintain their image.

In the August issue of DRUM we read about the ZULU princess wedding worth millions. With her father earning more than 10 million a month in state compensation, the little princess royalty went all out for her wedding, inviting the who’s who of the entertainment industry, royalty clans, and media. As if that was not enough her gown alone was said to be estimated at R120 000, imagine how much more all her other wedding costs were.

The rich are spending. All in the name of image. Tumisho Masha recently threw his 34^th birthday party, and gave his guests gifts. Playing the image game, rather than the saving game in this “economic crisis”. Perhaps losing their image costs for more than losing their money.

But, if you want to play, you must also pay. One local rich celebrity is paying immensely is Khanyisile Mbau, ex-wife to business mogul Mandla Mthembu. At 23, the flamboyant madam has fallen from grace because she and her husband have burnt through most of their millions all whilst thinking “this recession thing” is not really that real.

In the South African’s richville, we guess even though the world is in recession, having money comes with huge burdens because image becomes an integral part of the game. And most of these people have to forget the immediate problem of the recession and try to please their peers and society so that they do not look like they are struggling. In the worst case scenario of Khanyi, how do they recover their money together with their image?

Money is an  emotional game that leaves those who fail to play effectively, feeling unworthy and gloomy once they lose most of it.

So the rich will keep spending unwillingly because they want to seem as though they can maintain their lifestyle. The recession has really knocked more than their balance sheets, it is playing havoc with their image.

Opportunity: Help Them Maintain Their Image / Live Out Loud  

- Adene