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Statistician Prince and the mistress-money survey

According to a new survey by Prince & Assoc., more than 80% of multimillionaires who had extra-marital lovers planned to cut back on their gifts and allowances. Still, only 12% of the multimillionaire cheaters said they plan to give up on their lovers altogether for financial reasons. “Rich people are getting hit, and they’re all expressing the need to curtail unnecessary spending,” said Russ Alan Prince, president of Prince & Assoc., a wealth-research firm based in Connecticut. “Lovers are part of the same calculation.”

So says a November 18, 2008 Wall Street Journal report, which also supplies technical detail:

The mistress questions were added to the end of a much larger survey on wealth and wealth management polling a control group of 518 people. Of the 518 people surveyed as part of the broader study, 191 opted to answer the mistress question. The 518 respondents were all private jet owners — since this was done in conjunction with a private-jet-related business — and all the respondents were paid for their time.

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