Dogs aren’t only a man’s best friend, more than that they’ve proven to be a millionaire’s best friend. According to the results of a recent survey, millionaires tend to have pet dogs more than cats. A study by the Spectrem Group shows that 58% of millionaire pet owners have a dog. Only 37% own a cat. Only 3% keep fish, 2% birds and 2% have a horse.
Millionaires show their love for their dogs in part by their spending. One quarter of millionaire pet owners spend more than $1,000 a year on their pets every year, the Spectrem study said, while more than half spend more than $500 a year.
Many would say those numbers are understated, given all the diamond-dog collars, chateaubriand dog foods and booming dog spas in evidence these days. Not to mention the medical bills.
To read more on why millionaires prefer dogs, click here.