The cost of living crisis might be hitting Brits’ pockets hard but New York bankers are living the high life.
It’s bonus season and the Wolves of Wall Street are splashing the cash on cars, jewellery and gourmet meals.
Wall Street is handing out some of the biggest bonuses seen since 2009.
Goldman Sachs CEO David Solomon and JPMorgan Chase CEO Jamie Dimon both reportedly picked up $35million (£26m) windfalls – on top of their generous six-figure salaries.
They’re not the only ones. Dozens of financial traders have collected whopping bonuses, resulting in record sales of luxury cars.
Faisal Malik, from New York's leading auto leasing dealer Status Auto Group, has described the buying boom as “something for the record books”.
“It doesn’t make any sense how unemployment is through the roof and everyone just has money somehow,” Faisal told the New York Post.
“I have never seen an uptick in the higher-end spectrum of things like this with $200,000 cars being bought like they’re Jell-O.”
He’s sold ultra-rare supercars such as the 2020 McLaren Senna LM, and says that he’s about to deliver a one-of-a-kind chrome red McLaren P1 GTR at the price of “around the $2.5 million mark.”
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It’s not just cars. Philip Zelonky, the founder of upscale cocktail bar Noir NY, says he’s seen a surge of big-spending Wall Street bankers through his doors.
Philip described one customer who blew more than $40,000 (just under £30,000) in a single night, ordering an $8,500 (£6,000) Jereboam of Dom Pérignon and 20 bottles of Armand De Brignac Ace of Spades Champagne – which would have set them back over £15,000.
Jesse Schenker, co-owner of a number of upmarket Manhattan restaurants described one recent occasion when a group of six bankers ran up a $10,000 bill.
The group started off by ordering the 15-course tasting menu and then as things progressed making friends with a group at the adjoining table and ordering a massive quantity of wine.
They managed to put away “a magnum of Krug for $1,800,” he said, “a Domaine Raveneau Chablis for like $900, a 2005 Domaine Dujac Bonnes-Mares — which I don’t even know how much it was, but probably more than $1,000 — a Jean-Louis Chave Hermitage — which God knows was almost $1,000 again — and finished it off with a $2,500 Spanish Vega Sicilia Unico”.
He said that big spenders always turn up at around this time of year, as Wall Street’s finest collect their bonuses and go out to celebrate in style.
He says he’s styling to keep enough $100-per-ounce Kaluga caviar in stock to satisfy demand
“Bankers are just doing well,” Jesse says, “and they’re kind of going nuts.”
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