Residents of Nantucket, the wind-swept Massachusetts island where billionaires Eric Schmidt and Abigail Johnson own vacation homes, can get just about anything -- except a proper death. Fellow Microsoft billionaire Paul Allen, who owns a group of nearby properties valued at a little under $120 million, got off with just a $1 million charge. The Lewis Funeral Home, in the same family for five generations, fell victim to two forces affecting the industry: The children weren’t interested in taking over the business and revenue declined as residents increasingly chose lower-cost cremations, said Sylvia Lewis, the last owner’s wife. The number of funeral homes in the Bay State and the rest of the U.S. have declined in the past decade. Among the high-flying properties that have hit the American market this year are a $135 million estate in Aspen, Colo., (currently the priciest in the U.S.), a $125 million Palm Beach palace owned by Donald Trump, a $100 million estate nestled near the shores of Lake Tahoe, Nev., and a sleek $75 million waterfront mansion in Corona del Mar, Calif. Not to mention the many $30 million, $40 million and $50 million homes now up for sale.If you think the most expensive homes will automatically end up in the hands of the very richest people, however, you're wrong. Johnson is a billionaire executive of family-owned Fidelity Investments, the second-largest U.S. mutual fund company. Instead, the family took advantage of a different trend -- rising real estate prices -- and sold its gray-shingled building in Nantucket’s main village to a developer for $1.25 million, according to state land records. Anecdotally, wealthy families -- like those who move to Nantucket, where the median home price is almost $1 million -- spend less money on funeral services and are more likely to chose cremation, said Josh Slocum, executive director of the Funeral Consumers Alliance, a nonprofit in South Burlington, Vermont.Congrats! Although wealth tends to concentrate in specific areas, being a member of the billionaire's club doesn't automatically come with a house in Palm Beach, Fla. — though John Kluge of Metromedia does occupy a pale yellow mansion there.

Residents of Nantucket, the wind- swept Massachusetts island where billionaires Eric Schmidt and Abigail Johnson own vacation homes, can get just about anything -- except a proper death.

In Massachusetts, almost one in five has closed since 2003, according to the National Directory of Morticians Red Book. The seven-bedroom, 11-bathroom manse on 4.25 acres on Eel Point Road can be yours for a whopping $35 million. We're not talking wine cellars or master bedrooms suites — once considered the height of luxury, they are practically standard in upscale homes — but amenities like the trampoline room in Gates' lakeside residence in Medina, Wash.Or, Ellison's 33-acre spread inspired by the Japanese city of Kyoto.

In Weymouth, at Abigail Adams Middle School in Weymouth, Commissioner of Elementary and Secondary Education Mitchell ... At Nantucket High School, Youth Council members Eve Manghis and Cooper Voigt rallied students to take the pledge to Black Out Bullying.

Future of 3D TV dims as ESPN yanks in-your-face channel "He bought it in the 1970s," says Mai Truong, a local real estate broker with RE/MAX Equity Group.
Many of the richest people on our list own houses where they grew up or near the sources of their wealth.

"Then there is the question everyone wants to ask: How much is a billionaire's home worth? Milton, MA #2 Net worth: $16.0B Abigail assumed the CEO role at Fidelity Investments, and presides over the firm her father once led.


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"There's a pool, a nice big yard," she says. There are no easy answers to explain Nantucket's phenomenal run, but the numbers are indisputable. Microsoft has removed the Birds Eye imagery for this map. “It wasn’t the business that we had before,” Lewis in a phone interview. Forty-four percent of Americans who died in 2012 were cremated, according to the Wheeling, Illinois-based cremation association.




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