My observation:The remora that live off appeasing the super wealthy are adapting their sales pitches.
IN today’s Financial Times
https://archive.is/JxZUy
The new AI super-rich are reshaping the market for jets, yachts and cars
The rapid growth of AI-focused companies such as OpenAI and Anthropic has created a wave of millionaires and billionaires, and they are starting to spend — with trophy assets near the top of their lists.
The first trophy is always a house. There has been a surge in property prices in San Francisco, where the median price for a single-family home jumped to $2.1mn in June, up almost 25 per cent from the same month in 2025, according to real estate brokerage Compass.
But once they have a home, those with fortunes minted in the AI boom are spending big on hyper-personalised and high-performance yachts, jets and cars.
“The emergence of the AI super-wealthy has opened up a whole new wave of demand for those companies providing access to private jets, yachts and supercars,” said Paul Charles, a luxury travel consultant.
Companies that supply such assets are having to learn very quickly about the very particular demands of this new class of wealthy.
As well as wanting to pay in bitcoin or other cryptocurrencies, these digital-native clients typically prefer to book using a company’s app or WhatsApp, bypassing brokers and the “theatre of traditional private aviation”, said Charles Robinson, founder of charter marketplace EnterJet. “If it takes more than a few minutes to get quotes and confirm, many will lose interest.”
Onboard standards have also been updated. “The private aviation golden standard of yesteryears, sipping champagne on crisp linen [tablecloths], has largely gone out the window with this cohort,” said Robinson, adding that they looked for “specific types of water” such as artisanal brand Fiji and Acqua Panna as well as “health-conscious catering”.
More at link.
Wealth managers are cutting fees and hiring staff around Silicon Valley in a rush to win over workers at OpenAI and Anthropic before their initial public offerings mint a new class of millionaires.
Morgan Stanley’s wealth management division last quarter took in more than $74bn in net new assets from IPOs after SpaceX completed its blockbuster listing, through its work managing employee equity plans.
When OpenAI and Anthropic follow suit with their own flotations, expected to be within the next 12 months, it will unleash a wave of competition among wealth managers — particularly with advisers affiliated with investment banks such as Morgan Stanley which act on the IPOs.
OpenAI alone handed out nearly $11bn in equity pay in 2024 and 2025, its financial statements show, and would rank seventh among US public companies for total employee equity remuneration if it were to list now, despite employing only about 8,000 people.
“Showing up from Wall Street in a fancy suit and delivering a classic three-meeting sales process . . . is not the way that these prospective clients will make their decision,” said Jason Van de Loo, chief executive of wealth group Choreo, which has $19bn in regulatory assets under management.