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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My child is in preschool, K next year, and we are around $5mil per year and honestly almost everyone in the class seems much wealthier than us. A lot of it is generational. Out of a class of 15, there’s a couple of billionaires, some generational wealth with famous grandparents, some a mix of family money and working hard, a show biz family, and a couple of hedge fund/big law/trader types who are all clearly successful based on the $10mil apartments. Most of the families have at least one parent who grew up in the city.

A lot of the dads are much older which impacts wealth versus us in our late 30s who are newer to making this kind of money. For the most part, everyone is awesome and down to earth though?

I don’t care about the status stuff, I’m not a designer clothes kind of mom, places like St Barts seem terrible to me, but I guess that I’m guilty of being attuned to the micro symbols of status since I definitely pick up on this stuff? [/quote]

Wow this can’t be the norm. This has to be the upper crust of preschools, right? [/quote]

Yes this is absolutely not what most classes at a top private are like. [/quote]

Agreed. This was not our experience in preschool or at a TT co-ed.[/quote]

Same here at a TT all girls.  A "couple" billionaires in a class of 15 reads like satire.[/quote]

Agree. NYC has got 123 billionaires. The average age is 68. The chance is that 2 of them have got kids in the same pre-school in a class of 15 is not very high.[/quote]

I think centimillionaire parents are not rare at TTs but billionaire parents are much more uncommon.

Also some of the people they refer to as billionaires, it may be the grandparents or great-grandparents that are billionaires. Which for low level billionaires makes the parents centimillionaires.[/quote]

Worth remembering that there are about 40,000-50,000 students in NYC NAIS schools and pre-schools ($70k price rag). I accept that 5-10% of them may be family members of 123 billionaires and 818 centi-millionaires but this still leaves 90-95% who do not have this level of wealth.

Another data point is HHI. There are about 5,000 families who report income over $5million. Again - 5,000 families (across all age groups) and 40,000-50,000 students. We end up with the same 5-10% estimate (since not everyone who makes $5million is a centi-millionaire).

In other words, people often overestimate the average level of wealth in private schools. There will always be a few very rich families but the majority is usually UMC (dual income households with parents working in law, medicine, finance or running small businesses).[/quote]

Where does this data come from? The 5000 $5M number? Not seeing it on NY State Department of Taxation.[/quote]

https://www.ibo.nyc.gov/content/publications/pit-overview

I downloaded tables for 2021-2022-2023 and extrapolated the trend into 2025 (assuming constant growth).[/quote]

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