The rich aren't. Steve Wynn isn't at any rate. From AP:
Casino mogul Steve Wynn smiles at the start of his meeting with officials in Macau on Feb. 20, 2002. Wynn sued Lloyd's of London Thursday, Jan.11, 2007, saying the insurance company failed to act properly on his demands to pay $54 million in lost value for a Picasso that was damaged when Wynn accidentally poked a hole in the canvas with his elbow. (AP Photo/Anat Givon)How stupid do you have to be to spend 135 million on a painting and then put it into a situation where it could get bashed by the first idiot that walks by? Icing on the cake is Wynn himself claiming the title of First Idiot. I mean please. And now he wants insurance to pay? Insurance shouldn't have to pay unless Wynn made it clear from the begining that he was a dumbass.
And I always thought the very rich were smart. Warren Buffet is smart. Steve Jobs is smart. Steve Wynn? Not so much.