My point is that a 30% raise for all of us means a whole lot more than it does to someone making 10 mill. Once you get up into his level of money about all you're basically doing is increasing your investment budget. You can already afford pretty much any house you want and car you want. Nowhere on the planet is off limits for vacation. You can order the appetizer and not worry about it making the bill too big. When all of those boxes are checked, you can bring in other factors into your decision making is all I'm saying.
I'd say this is the wrong way to look at it from a few different ways, depending on who you are talking about.
1)
You are increasing your kids and grandkids wealth. That's a pretty powerful motivator for a lot of people. And the nicer a lifestyle they are used to, the larger a nest egg it takes to keep them in the lifestyle they are used to. We live a pretty modest lifestyle compared to Lane, but it would take about $5M per kid to let them recreate our lifestyle without work. Probably more like $6M is you are talking about them recreating their lifestyle with a wife and kids. I don't particularly want them to not have to work, but some people like giving that safety net to their kids and grand kids. I suspect Kiffin's kids are used to a lifestyle that would take more like $10M at the least to recreate. So Lane would need about $30M to set his three kids, plus bump that up for taxes because unless he gets married, he's going to hit the estate tax/gift tax limitation quickly.
2)
You are increasing your private plane/jet budget. You can easily spend $1M on salary, hanger, fuel, etc. for a nice dual prop turbo jet and pilot. Obviously that number goes for an actual jet. That means $25M of an investment portfolio just to fund the annual costs of a plane is not While that's certainly not a need, once you get a taste of private plane/jet travel, I can see how it would be motivating. If you gave me $1m a year in compensation, or $10M a year in compensation, the only thing that would really change my lifestyle would be that a private plane at $10M a year is reasonable.
3)
You are increasing your yacht budget. From what I can tell, yachts are much less addictive than private plane/jet travel. I have seen people sell yachts when money isn't an issue, but I've basically never seen anybody give up private travel with a full time pilot once they've had a taste. But still, for those that want it, or even just think they want it, it's not hard to generate pretty significant ongoing expenses. Dockage, crew, insurance, gas, P&I etc. can get to $1M a year pretty easily once you get north of 50ft. If whatever coach is dreaming of retiring to a 75ft yacth and cruising the caribbean, then yea, there is a difference between $10M and $13M a year.
4)
You are increasing your cocaine and hooker budget. I don't have any insight into this, even through acquaintances, but my impression is that you can pretty much make this as expensive as you want.
