For the rich, ownership used to be everything. Ten years ago, no self-respecting multi-millionaire or billionaire would have been caught dead in a rented car, rented house or rented boat. What was the point of being rich if you couldn’t own your own status symbols?
Now, a sea change is sweeping through the luxury world in the form of fractional ownership. It started with jets, then moved to plush vacation homes (rented by destination clubs) and automobiles available from exotic-car clubs.