But the seven-figure club is no longer what it used to be
Who wants to be a millionaire? I
Have flashy flunkeys ev'rywhere? I
Who wants to ride behind a liv'ried
Do I want? No sir!
Even long after 1955, when Cole Porter wrote those lyrics, the word millionaire evoked images of power and plenty, of sprawling estates, Palm Beach tans, Locust Valley lockjaw accents and exclusivity. But millionaires, like almost everything else, are not what they used to be. A study released last week by U.S. Trust, an old-line Manhattan firm that...