The extravagant hobbies of spoiled rich kids.

Driving gold-plated supercars, challenging the US president to strip naked, or injecting hormones for immortality are some of the extravagant pastimes of wealthy young men and women who flaunt their riches.

According to the annual report on global private wealth by the financial consulting firm Boston Consulting Group, released on June 7th, the number of people considered US dollar millionaires and belonging to the wealthy class accounts for only 1% of the world's population.

However, the total assets they hold account for nearly half of the global private wealth, and this proportion is trending upwards. Besides using their money for socially beneficial purposes, many squander it on extravagant hobbies.

Unique forms of entertainment

In 2013, a young man named Lavish, who looked like he came from the Middle East, flaunted his wealth in various ways on Instagram. Sometimes he would ride in a limousine, other times he would tie $4,000 to a balloon and release it into the sky, or buy a dozen iPhones just to smash them whenever he got angry.

Turki Bin Abdullah's collection of gold-plated supercars. Photo: ITV News.

Like Lavish, Turki Bin Abdullah, a notorious Arab prince known for his lavish lifestyle, also frequently flaunts his wealth on his Instagram account. Turki owns a fleet of gold-plated supercars and transports them around the world by air, despite the exorbitant cost.

According to the Daily Mail, the Saudi prince spends thousands of pounds each year transporting his supercars to Europe. In addition to his collection of luxury vehicles, Turki also keeps leopards as pets and owns a private jet.

Meanwhile, Hamad Bin Hamdan Al Nahyan, who boasts of his immense wealth second only to the Saudi Arabian king, is famous for spending millions of dollars to buy an island and have his name carved into it so large that it's visible from space.

From the letter H to the letter D, it stretches over 3km, with each letter measuring over 500m in length and 1,000m in height. The beginning of the letter "H" even reaches the strait leading to the Arabian Gulf, allowing the first two letters of the name to be submerged at high tide, but without being lost.

Furthermore, the Middle Eastern billionaire had to hire a large number of workers to dig the drainage ditch, and this extraordinary project took many months to complete. Besides that, he also enjoys creating things of enormous size, such as the world's largest truck – eight times the size of a Dodge Power Wagon, with four bedrooms in the cabin.

Besides his penchant for flaunting his wealth, Hamad is also known as a generous philanthropist.

Western billionaires show off their wealth.

Not to be outdone by the Middle Eastern tycoons, Aleem Iqbal, a young man from Solihull, England, constantly impresses people on social media with his collection of supercars, including Rolls-Royce, Lamborghini, Ferrari, and Bentley.

Calling himself "Lord Aleem," the young man from Solihull constantly "tries" to flaunt his wealth and extravagance. He often displays a stack of keys with captions like "Lambo, Lambo, Lambo and a Rarri."

Meanwhile, Alki David, a Greek billionaire, amused himself by offering a $1 million cash reward to anyone who dared to strip naked in front of U.S. President Barack Obama in 2010. However, no one claimed the prize that year.

As a member of the wealthy Leventis family, in 2008 he became a major shareholder of Leventis Favid Group, the company that owns Coca-Cola Hellenic – bottling plants in 28 countries. In addition, David is involved in companies such as the internet television provider FilmOn and the home shopping website 9021go.com.

Millionaire Scott Alexander has been dubbed the most extravagant man in Britain due to his lavish lifestyle. According to the Daily Mail, Alexander's teeth are fitted with the finest and most fashionable Japanese porcelain veneers, costing around £55,000.

In addition, he has a preference for buying entire fashion collections rather than just picking a few pieces. Each year, Alexander spends around £300,000 on Dolce & Gabbana clothing. He has even appeared on the ITV documentary "Britain's Biggest Shopper".

Furthermore, Alexander bought a town in Bulgaria and named it after himself. Most notably, this man spends around £100,000 a year injecting hormones daily in an attempt to achieve immortality.

China's second-generation rich - 'Money buys everything'

The "second generation of the rich" in China includes the children of big corporate bosses or government officials. In a sense, the second generation of the rich are the "product" of those who amassed wealth alongside China's 30 years of economic development.

Dorothy Wang, a wealthy heiress of Chinese-American descent studying at the University of South California, said that a single shopping and dining outing in Beverly Hills can cost her between $50,000 and $60,000.

Furthermore, the young woman frequently flew to Los Angeles to "experience" gambling at casinos. Believing that "playing small brings bad luck," Wang squandered $300,000 in just two days to satisfy her addiction.

She claims to be living a "happy unemployed life" and is preparing to inherit her family's multi-million dollar fortune. "Yes, my parents are rich. I can travel wherever I like, buy whatever I want," Wang proudly stated.

In 2015, Wang Sicong put two Apple Watches on his dog Wang Keke's legs, took a picture, and posted it on Weibo with the caption: "Haha, I have new watches again. I should have worn four to cover all four legs, but that would be too ostentatious. So I'll just wear two! Can you guys do the same?" (Image: Weibo)

The most famous figure among China's "second generation of wealthy" is undoubtedly Wang Sicong, the only son of Wang Jianlin, who is known as "the richest of China's tycoons."

Instead of mentioning the qualities of a businessman, even though he holds a director position in the Wanda Group, people only remember the extravagant lifestyle and reckless behavior of the young heir from the Wang family.

During his time studying in London (England), Wang Sicong was known for his extravagant lifestyle. After returning to China, his lavish spending only increased. For his 27th birthday, the young master spent money to rent out the entire beach in Sanya, on Hainan Island, to host a grand party and set off fireworks to celebrate his birthday.

He also generously gave each guest at the party expensive gifts such as phones and laptops. Afterwards, Wang Si Cong posted photos on his personal page to show off that he had invited the South Korean girl group T-ara to perform at his birthday party, with the caption: "Money is everything."

Previously, Prince Wang also spent $1.5 million to invite the Japanese girl group AKB48 to China just to wear the uniforms he designed and take photos with them.

Not stopping there, Wang Sicong also uses his pets to show off his wealth. He owns a show dog named Wang Keke. On the Weibo page he created specifically for it, Wang Sicong once posted a photo of Keke wearing two Apple Watches on its legs.

Below the photo is the caption: "Haha, I have a new watch again. I should have worn four to match all four legs, but that would be too ostentatious. So I'll just wear two! Can you guys do the same?"

In addition, this dog is often seen wearing BV or Hermes collars, carrying pink Fendi handbags, and only drinking FIJI water – an imported natural mineral water.

Wang Si Cong's actions are often criticized. Even the financial site Yahoo called them "childish behavior."

According to Zing