At a certain point, an extra million dollars adds nothing new to your wealth. Well, it’s not a bad moment to reach, to be honest. At this stage, other motivations come into play, and money stops bringing joy to people. So why are the ultra-rich dissatisfied with their wealth? Could it be that they are simply spoiled?

The number of billionaires in the world is steadily increasing—there are now almost three thousand of them, with 700 in China alone, closing in on the United States. The number of millionaires has also grown significantly—during the pandemic year of 2020, their numbers increased by 600,000, bringing the total to nearly 12 million.

Starting at a certain level of wealth, the next million doesn’t change a person’s lifestyle. So, what drives people when they reach this point? Why do they need even more money?

I’ve found some explanations. Michael Norton, a Harvard professor, studies the relationship between wealth and happiness. Michael developed an interesting model to understand the behavioral patterns of the rich. Norton writes that researchers have identified two questions people ask themselves when considering their life satisfaction. The first question is, “Am I living better than before?” and the second, more pressing question is, “Am I living better than others?” Of course, this doesn’t just concern wealth, but also appearance, height, country of residence, and other issues that everyone constantly worries about. Not just the rich.