How can low/mid-tier oil Sheikh's afford multiple families (NYC)?
Looking at the PE partner, HF analyst, and IB MD threads on expenses and lifestyle it seems almost impossible to plan 9 families in NYC working as an oil sheikh unless you are blessed by Allah. If you are a 30+ y/o oilman in a mid-tier production zone making just mid to high 8 figures per year (aka not Saudi/UAE money) with the insane volatility of energy prices, chances of getting invaded by the US/Russia, or your well just drying up - how do you get comfortable with committing to a few dozen kids/tuitions/and mortgages for all of their houses given the absurd cost of living? Vs a member of the Saudi Royal family or the top producers in Dubai, making 10x+ the amount with more visibility in terms of Western military operations and policy? Even if I made a lot 1 year (say $200-300mm) that could go to zero the next and you aren't building an/home portfolio on 1 year peak earnings. How do you commit to cumulative 100+ years of private tuition if you might have to live off savings for 1-2 years if your team is assassinated by ?
Do people just defer families in the industry or find wives with fathers who have steady jobs of their own (dictators, Saudi/UAE Sheikh's, etc.) while they swing for the fences? Or they only do if after getting a massive up year ($500mm+) that de risks their career after?
(Asking because I'm one of these Sheikhs and am unclear of how to think about starting a few families vs move out of NYC and find a job that is stable with lower COL e.g. head of a cartel in LATAM)