From space rocks to smartwatches, AI millionaires rewrite the luxury playbook

AI millionaires are reshaping luxury spending, Reuters reports, as some newly minted wealth from stocks and AI-linked listings tests whether luxury demand will shift beyond traditional buyers. The story profiles investors such as “Chip,” a 50-year-old former data scientist holding about $3.5 million in SpaceX shares, who recently bought meteorites worth $10,000 and a $5,000 fire truck. With SpaceX’s June initial public offering tied to his gains, he says he may also purchase a TAG Heuer Carrera Calibre 1887 SpaceX Chronograph watch priced around $8,000. However, analysts question whether an estimated 440,000 U.S. millionaires created by market gains—and new AI wealth—will drive a lasting upswing. Bain & Company valued the global personal luxury goods market at €358 billion ($406 billion) in 2025 and said it contracted over the prior two years. Still, North America was among the fastest-growing regions, with executives citing consumer confidence in the United States, while tech buyers appear attracted to smartwatches and wellness-focused purchases.