The Golf Course Trick That Makes Developers Rich

Old joke among the ultra-wealthy: the fastest way to become a millionaire is to be a billionaire and buy a golf course. It's a joke because it's often true — 150 acres of grass that drinks money, water, and diesel all year, for a business that barely breaks even. So why do some of the richest, savviest people on Earth keep buying them on purpose? This is the real economics of owning a golf course: why the water bill alone can bankrupt you, why golf is often the least profitable part of a golf course, the two completely different reasons people actually buy them — and the trick hiding under the grass that turns a money-losing course into one of the most lucrative moves in real estate. Because almost nobody in the golf business is really selling golf. CHAPTERS 0:00 — The billionaire's golf course joke 1:30 — What you're actually buying (150 acres of demand) 3:30 — The water bill that bankrupts owners 5:00 — Answer 1: the trophy 6:30 — Answer 2: the land play 9:00 — The golf-community trick 11:00 — Which of the three games are you playing? Spare No Expense is a documentary channel about the cold economics of owning the assets, businesses, and empires the ultra-wealthy buy when price stops mattering. New episode every Thursday. #Golf #RealEstate #Economics