People outside of banking would assume a Bugatti Veyron, Ashton Martin Vanquish, Bentley GT, etc. But my MD daily drives a, up-to-date/fully loaded, Volvo. I was invited to his daughter's birthday party where he showed the team his car collection but it wasn't anything impressive. 2 Harleys and a Ferrari Testarossa. He had a shitload of art pieces, that I couldn't appreciate because I'm not big on art, and a wide range of wines in his cellar.
What is your MD driving?
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A lot of wealthy people in general are not that into cars, I find. The average Ferrari owners has the equivalent of a household income of $1-2mm, the average Porsche owner is $500-600k. Yes, that's a very healthy income but consider that these individuals are in their 40s and 50s, have an entire family to support and that (in the case of Ferrari), they're buying 3-400k cars in addition to whatever cars they already have. That's why most sports cars are financed / leased now. I know multiple very wealthy people who drive very ordinary cars and multiple middle class people driving cars that are worth more than 50% of their salary.
So what’s your md driving
a 7-8 year old Panamera
Always has to be some dude on every thread, if it’s a watch thread he talks about the timex, if it’s a car thread he says no need for the expensive cars and he knows some billionaire who drives an accord etc... great thx
That's cute, except I actually like both cars and watches - I just recognize that a lot of banking seniors don't care about them.
why are they booing you you're right
A manager I knew drove a Tesla and, when he was in the car with people, would turn on self-driving without telling anyone and just start texting or telling people he's not paying attention to the road until they figured it out
Honda Accord
2020?
1997
Ngl the redesigned accord looks like an Audi from a distance.
Me crazy, usually
Hopefully you're a Prius and can handle the abuse.
S class coupe.
not sure bro
I don't blame you.
New AMG GLE, at a MM. Nice car but not off the charts. Probably 90k ish
Beautiful car.
Those things are fun. Friend of mine has a GLC 63 and it is impressive. Crazy handling and power. Kind of useless since it’s right in that crossover/too small to be an SUV size, so I always thought they should’ve just got a C63. But the GLE AMG is gorgeous and actually a functional SUV. Definitely a sick dad car, looking forward to being 40 and buying one.
My MD drives me crazy with late night comments and tight deadlines
Must be a hellcat or demon.
MD where I interned drove a G-Wagen
Your md is a Russian oligarch
Perhaps Grigor?
Can confirm. His name is Vlad and drives Lada.
"No airbags, we die like a man" as he says.
g wagen
gee vhagen
Our group MD is not into cars and drives a (brand new) Ford. He said he is fully invested in markets, various RE properties and his wife doesn't work. Big house and three kids in private school. When I saw his monthly expenses I understood why he drives a Ford. His kids tuition is more than a Ferrari.
Your MD fucks.
Which school costs more than 200k+? are you talking about gross? Then that could be imaginable with 4 kids but for 1?
He did say three kids, but I would assume tuition doesn't cost more than 40k per year~120k.
im curious as to how you saw his expenses
S-class + his wife's BMW X7. Nothing too crazy.
"Nothing too crazy" Lol
same i've generally found this combo to be the norm here in asia especially with drivers driving it
Ford Transit. IBD Country Head at US BB :)
MD where I interned drove a 599 Ferrari, a Porsche 997, and a BMW X5M
Daily or collection?
he drove all 3 at once (one with each hand, and the other with his massive c*ck)to flex on his analysts
Ferrari was the weekend and racetrack car the two others were daily
At my previous firm, MD drove an S class sedan. My current boss drives a range rover + S class coupe.
Drives a Toyota Avalon, but he owns a castle in my city.
The new Avalons are sweet. I don't blame him.
Acura sedan. Dude lived super below his means, lived in a <$1M place and his dream is to move into the country and have his own farm. Great guy and honestly one of my favorite people I've ever worked with in finance.
MD reminds me of that book, the millionaire next door.
in a what? dont tease me like this pls
Oh super weird - I go to edit the comment but all the text is still there still.
"Acura sedan. Dude lived super below his means, lived in a sub-$1M place and his dream is to move into the country and have his own farm. Great guy and honestly one of my favorite people I've ever worked with in finance."
MD: hey BBCinIB what are you doing on Saturday?
BBCinIB: no plans why whats up?
MD: You're coming to my daughters birthday party. It'll be fun I can show you my harley and art/wine I grossly overpaid for
What's an Ashton Martin? Chinese knock-off I'm assuming
Thats the name of the old UNC student body president.
Blacked out Yukon Denali
Sleek.
Know a member (partner) at a securities/corporate law firm, at a restructuring legal firm specializing in RX/bankruptcy deals drives a Tesla model S and an x5. Know a SMD at a top 3 PE Shop drives a nice jag f-type and an aston. Know a SMD/CFO of a VC/PE lmm drives a 7 series.
All are great guys and all have a sense of humor that translates to being great guys to have a meaningful yet comfortable conversation with regardless of the usual factors that affect speaking to upper-level professionals.
If a car makes someone an asshole then they were already assholes to begin with imo.
Agreed
the NJ transit last time I checked
Incognito
I have a close of kin with >7 luxury cars to the tune of several million. He didn’t do it by working for a bank. He runs his own business/es.
It sucks that you can't name these cars.
Custom Bentley GT is one of them, one of the first on roadside when released in the country.
Audi S8 and wife drives a Range Rover
Velars are sweet.
ex-MD I know in Singapore drives a Toyota Camry but lives in an $8M house. Shares the car with his wife. To be fair, a new Camry here costs USD$150k (including a certificate which allows you to own the car for 10 years).
Yeah Singapore is like that. It’s such as small and densely populated country so they try to disincentivize owning cars. Only the super wealthy have any type of car, period.
A certificate that allows you to own the car for 10 years? There's a lease on ownership in Sig? Our govt. needs to step their tax game up.
One of the MDs known as the "car guy" had a Panamera Turbo, P100D, and now a F-Type R. Not sure if he's gotten anything new. But like others said, most MDs (and older wealthy people in general) are not really into cars. Another MD in the office drives two old BMWs. Wife has a new BMW SUV.
It's really the younger crowd that has the cooler stuff. A lot of associates/analysts here with M2 / M3 / C63 / 911. Texas office
Those aren't "car guy" cars. Someone should break the news to MD.
Haha for sure. You'd think he'd have something like a GT3 or an actual exotic but nope.
There's some real nice stuff in our office garage though but I have no idea who they belong to. Tons of M cars, a matte black GT63S, two E63S wagons, DB11, and one guy who has a TDF / SpecialeA / F430 Scud / TrackHawk that he swaps out every day. Absolute baller dailying those to work. Must be one of the PE shop partners in the building.
It would be funny if someone in the O&G coverage dailies a tesla
Nearly positive Maynard Holt drives a Tesla.
My absolute dream is to ride a horse to work :D
GOAT.
My MD's driving me to the ground.
The managing partner at my fund - rr phantom, bentley, and 5-6 other cars I haven't seen.
Good luck on your promotion mate.
Ha! That made me laugh and tear up at the same time....
Colleague of mine (longtime MD since 33, now early fifties) was joining us for a client meeting. Very hands on, down to earth self-made industrial millionaire. For whatever reason the question came over desert. All eyes on our colleague (most senior, highest payrank). His answer: Fiat 500 Abarth!
He felt compelled to explained, that living in London and taking the car to office (commute) puts limitations on your kit.
After dinner and client meeting asked about "his/mrs other car". He managed to dodge an answer.
Other colleague (late fifties) was visiting for a deal, an MD of our office has a small collection of old jaguars. "I understand you also love oldies, what do you have?" (Over a cigar, evening). "Only a silver ghost, that has been long time in the family"... We found out that it belonged to RR lead engineer who built it (I think it was nr. 2 or 3 produced) and sold it to his family... Talking about old money....
The Jag MD had to give up...
The strange thing is the more money you have, the modest you become. Aspirational folks stretch their wallets to buy the nicest clothes, watches, cars to show they're doing really well, while those who have true success don't feel the need to be validated that way. Look at Buffet and his Volvo, Li Kai Shing with his Seiko etc. I'm sure they have posh toys but they never flash it in your face. There's no need to.
Buffet drives a Caddy btw. Just recently upgraded to the next gen.
Wow how insightful
Buffet flys on a private jet has has for over 20 years, don't kid yourself
When you're alone at home, do you talk to yourself?
The chief strategist at BX lives in NJ, not sure how he commutes.
NJ Transit.
The GOAT
Audi Q7. Pretty off brand for a 40 something year old white guy but whatever floats his FCKIN boat I guess
if he has 3+ kids. I don't see that as far off. Not too many other flashy SUVs from luxury carmakers.
Q7's rear kinda resembles the Urus rear end.
Brand new fully loaded range rover. 2 of 'em (his wife had to have one too).
Happy wife, happy....
Know a Megafund PE MD who drove a modest late-model grand cherokee, wife had a van, kept a classic Porsche in the garage. Nicest guy ever, incredibly modest but would dish out "toys" to friends and family like it was nothing. Had a big property in the countryside that he'd let people mess around on.
And people say MDs are shitty, snobbish, crazy
His rather nontraditional background might contribute to it! He also ended up leaving to start his own company, so maybe the "fit" wasn't there... lol
My MD gets car sick...mass transit for him
Your MD owns Grand Central
Ford F-150 King Ranch edition, says he loves the fuel economy
Conservative flex.
MD drove a Chevy fuckin volt. One time i came i had my buddy from a dif group come down to grab my door dash order and dude almost went to ask my MD for it lol
The dark humor in me wishes your buddy did ask him.
I feel like most wealthy people in finance don't tend to splurge money on cars because they realize it's such a bad investment.
You have a point to an extent.
2011 Mazda 6. I think the divorce was expensive.
Ouch.
Whatever the fuck he drives, still calls me up every day incl. weekends to grab him or his wife/wife's sister/kid a Uber/Lyft ride ASAP. FML.
Audi S4. Mind you he also has a 8-seater airplane (PE, not IB).
Chevy Suburban?
Meant be say 8-seater airplane. The keyword was missing.
Is he a partner at the PE firm?
He is, been there since the start of the firm as well.
The MD rides analyst like a rented mule
I've seen it run all over the place from a Mclaren 650S, Ferrari 458 Speciale-A, all the way to one of those god awful front wheel drive Lexus sedans. It just depends on taste. I'd say those that are avid enthusiasts generally buy things with appreciation and collectability in mind (e.g. not the Mclaren dude) and likely are making money off their collections long term. Imo, if you're not going to take that approach, you're better off just buying nice basic transport. Paying retail for a new Maserati or S-Class just to eat 90% depreciation over the next few years is for foolish flexing wannabes.
I agree new sports cars are terrible investments, but that doesn't mean you need to have a car collection that will appreciate (that's very hard to pull off).
If you're a car guy you can still pull off a decent amount of sports cars that are barely used ( < 20k miles) without getting f*ed on by depreciation.
Think: cayenne, e63, m8, s8.
Well yes, but I’m the car guy that’s more likely to buy those (daily a Jetta, 911TT weekend car and some bikes). Once you hit MD, you can afford to only buy stuff you know you won’t lose money on. There’s so much access at that level why wouldn’t you? I know an MD who hounded the Ferrari dealer for years to buy a brand new made to order 488 with absolutely no prior Ferrari history. That’s damn near unheard of, but he’s got the cash and determination to make it happen. (Different 488, not the speciale-A)
Totally agree on the last sentence.
During my first internship (2015) my boss had a GT-R. He absolutely loved it although given his personality I can't imagine he drove it too hard.
GTR is badass. Wait, Nissan right?
Currently, a Lambo Aventador SVJ (LP770-4), Lambo Urus(for my wife), Mercedes EQC(also for my wife), Ferrari Pista and a Pagani Huayra.
Sheesh!
Tim Gillean from Cross River is that you? In that case you *had* a Pagani Huayra
https://www.dailymail.co.uk/news/article-8966035/Texas-teen-crashes-3-4…
Saw that in Dallas, ouch. Not Tim though as he's got a LaFerrari and Chiron in the stable as well.
I am just waiting for someone to say riced out JDM 1986 Toyota corolla.
Drifting into the parking garage.
Or a miata.
Dailies a fully loaded Range Rover Autobiography that's about five years old now. Also has a DB9 as well as a Vantage, AMG GT, 911, and BMW z8. Astons as well as the MB and Porsche are all a few years older now.
Z8? Damn.
Has less than 3k miles on it I want to say. Never seen him drive it lol
911 Turbo (991.2, I believe) and an older BMW X6M.
Edit: Reply below is me. Updated job info.
He dailies the 911?
Dailies a bicycle or walks, as he lives a few blocks away. Beam makes an appearance when we are super busy. Only seen the Porsche on weekends, but it's great motivation.
Nothing that exciting. BMWs and Mercedes are common as are some higher-end SUVs.
Ironically the two biggest high-flyers in finance that I know personally have downgraded. One sold their Bentley and the other sold their McLaren in exchange for more useable options.
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