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Most Wealthy Americans to Spend Money on Charity This Summer

May 30, 2007, 1:43 pm

Many wealthy people plan to give to charity this summer, according to a new study whose results were summarized by The Wall Street Journal.

They study of 198 people with a net worth of $10-million or more shows that 98 percent of them plan to donate an average of $82,000 to charity this summer.

Those same people also plan to spend $384,000 on yacht charters, $56,000 on entertaining, and $24,000 on wine for entertainment.

The study was conducted by Prince & Associates, a private-wealth consulting and market research firm, for Elite Traveler magazine.

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