Earlier quoted context omitted.
If your salary was $25k/year (a respectable amount for the majority of world population), would $1M seem like a lifetime financial stability? I think so. Yet if your salary is $250k/year, it probably wouldn't, and this would sound ridiculous to people who make $25k/year. If you make 25k/year getting 1M is almost as good as getting 42M, because you are not used to thinking about anything you can do with 42M that you c…
Most people on $250k are just trying to “survive” (as in, have a house and a family) in a high cost-of-living area. If a house costs $2M then $250k is only just sufficient after deducting taxes and living expenses. Their spending is not so different from someone earning $25k in a low cost-of-living area. There’s nowhere in the world where the cost of living requires $10M/year. To spend that much money you are forced…
It's a different question how many people actually spend 10M/year - I have no data about that, but I can easily see myself spending that much if my income has been 40M/year for several years. To me personally spending that money would not necessarily mean buying some high-end luxuries. It would probably involve trying to make some changes in the world and influence things. But yes, luxuries and interesting experiences too. If you're interested in this question, try finding more information about lives of famous rich people.