Why Billionaires And Luxury Travelers Prefer Newport, Rhode Island

Newport, Rhode Island, isn’t just a summer destination, it’s a place where American power and legacy have created a melodious composite of rich history and cultures. From its roots, built on the backs of slaves and the enduring work of Irish immigrants, to opulent Gilded Age mansions, raised by the robber barons of the 19th century. No luxury vacation destination in the world is quite like it.

To understand why the ultra-wealthy continue to live and vacation here, while tourists and seafarers flock to get a taste of this unique lifestyle, an understanding of the economic, cultural, and historic tapestry is in order.

Among the ultra-wealthy, Newport hasn’t enjoyed a quiet moment for more than a century. Unlike the Hamptons, Martha’s Vineyard, Cape Cod and Nantucket, Newport thrives in the off-season, which sets it cleanly apart from the others. According to VisitNewportRI.org, the year-round demand for Newport has continued to increase through the winter months.

Beneath its laid-back, nautical charm is a destination defined by legacy: from the city’s Gilded Age architecture and immigrant roots to its modern real estate portfolios and invitation-only clubs. Old money meets enduring culture and a lobster roll is never out of reach.

Where Billionaires Live in Newport, RI

Beyond Newport’s famed Bellevue Ave. sits a grand private residence known originally as On The Rocks, now called Misty Gray. The story behind Misty Gray has never been told. The home was built by surgeon, attorney, and Air Force General Don S. Wenger and his wife Mary. Among many accolades, Wenger was the military flight surgeon to the original seven astronauts. The Wengers were members of Bailey’s Beach and part of the elite social fabric of Newport, RI in the late 1970s and early 80s.

The private residence set a trend yet to evolve: an outpouring of homes built directly into the rocks. This move would shake up Newport’s ocean-front real estate forever. The Wenger’s built directly into the cliffs along Ocean Drive, setting a new precedent for the time in coastal engineering and architectural daring. Today, it sits beside Seafair, once owned by banking heiress Verna Cook Salmons and now part of the ultra-luxury real estate market, drawing deep-pocketed investors to Newport’s southern coast.

Newport is home to at least three famous billionaires.

Larry Ellison

Since 2010, Oracle co-founder Larry Ellison has been the proprietor of the Beechwood Mansion. Previously owned by the Astor family, before it opened for private tours in the 1980s, Ellison bought up additional contiguous properties in the same estate complex (including a home known as “Seacliff,” in 2019, for about $11 million) to consolidate what had been a nine-acre Astor family estate.

An entity owned by Ellison has also submitted plans for a new 15,000-square-foot mansion on the historic “Summerwind” parcel with a projected cost of about US $39.5 million. As a former host of the America’s Cup competition, Newport also serves Ellison’s primary sporting pastime: sailing.

Stephen Schwarzman

Stephen Schwarzman, chairman and CEO of the Blackstone Group private equity firm, owns the Miramar Mansion, a 30,000-square-foot French Neoclassical-style mansion occupying 7.8 acres on Bellevue Ave.

Mark Walter

The Guggenheim Partners CEO co-owns the Los Angeles Dodgers and the Los Angeles Lakers. When he isn’t on the West Coast, he might be visiting one of his two Bellevue Ave. mansions — on either side of Schwarzman’s property.

The Mansions, Slavery And Irish Immigrants

Many locals can trace their lineage to a specific period of Newport‘s history, which dates to the 17th century. Slavery was not legally prohibited in Rhode Island until 1843. Waves of Irish immigrants arrived in the mid-1800s, many of whom helped build the opulent mansions that still stand today. The Naval War College, founded in 1884, brought generations of servicemen to the town to educate and be educated. These layers of local history live on through their descendants.

The chapter of Newport history that appeals most to tourists is the Gilded Age, when industrial fortunes collided with European-inspired aristocratic tastes to create a lasting cultural legacy. A handful of America’s wealthiest families — notably the Vanderbilts, Astors, Berwinds, and Wetmores — descended upon Newport in the late 19th century, turning the quiet seaside town into a summer playground of unimaginable opulence.

A few of their residences still stand today as living time capsules, offering an intimate look at the lives of America’s original “1%.”

The Breakers – Newport, RI

The Breakers, the Vanderbilt family’s Italian Renaissance-style summer “cottage” was commissioned by Cornelius Vanderbilt II in 1893. Inside, its rooms shimmer with gold leaf, marble, and Murano glass. Outside, 70 lush oceanfront acres offer a picturesque setting for garden parties and other private events. Book a private tour, offered daily from 8 a.m. to 5 p.m., starting at $1,500 for one hour minimum. However, two hours is the ideal time to appreciate the mansion’s layered history and architectural details fully.

The Breakers Third Floor Preservation in Progress Tour grants rare access to see how staff lived during the estate’s Gilded Age heyday. “The Breakers Third Floor Preservation in Progress Tour is a limited, guide-led experience of private bedrooms, bathrooms and recreational spaces used by the Vanderbilt family and household staff for more than a century,” said Bill Tavares, Communications Manager for The Preservation Society of Newport, in an email.” This insight into Vanderbilt family legacy takes on untouched layers, with floors and walls that have been reserved and others left untouched. “This is a much different experience than the standard Breakers tour,” Tavares added.

The Elms – Newport, RI

The Elms was the summer home of Mr. and Mrs. Edward Julius Berwind, known for his risk-taking entrepreneurship. The coal magnate modeled his ornate mansion after a French chateau and outfitted it with one of the earliest electrical systems in a private residence during its construction (1898-1901). Surrounded by formal gardens, terraces, pavilions and fountains, the Elms houses a breathtaking collection of paintings, statuary and tapestries.

Rosecliff – Newport, RI

Overlooking the Atlantic Ocean, Rosecliff was commissioned by Nevada silver heiress Theresa Fair Oelrichs in 1899, and modeled after the Grand Trianon (the garden retreat of French kings at Versailles, Commissioned by Louis XIV in 1670 ). The 1974 film adaptation of “The Great Gatsby” included several scenes filmed at Rosecliff.

Billionaires, Exclusive Clubs, And Social Circles

Despite the democratization of travel, Newport maintains well-defined social tiers. While the city is accessible, its most exclusive circles remain tightly held. The deep cultural layers that have stacked up over the town’s long history still exist.

These institutions reflect Newport’s quiet hierarchy, where lineage and longevity still matter. Prominent families such as the Rooneys, O’Briens, and Barretts — once tied to local politics and early development — are still very much present, whether owning prime parcels or running longstanding businesses.

Gooseberry Beach – Newport, RI

John Alfred Hazard, a descendant of one of Newport’s founding families, deeded the land that became Gooseberry Beach to Newport Hospital upon his death in 1880. In the 1950s, a group of local residents purchased the property and made it into a private beach club. It’s still member-based, but the club offers day passes to non-members willing to enjoy the beach (and play by the rules).

The Reading Room – Newport, RI

The Reading Room was founded in 1854 by merchant William Shepard Wetmore and other prominent summer residents of Newport. For decades, it has stood as one of the town’s elite gentlemen’s clubs, part of the summer social circuit of Gilded Age Newport. Located on Bellevue Ave., The Reading Room quietly preserves Newport’s summer hierarchy.

Bailey’s Beach, aka The Spouting Rock Beach Association

Trolley lines made Easton’s Beach in Newport easily accessible to mill workers from neighboring towns in the 1890s. In response, the wealthy summer residents of Newport moved their beach play further down the coast. Still an exclusive private club for Newport’s elite, the Spouting Rock Beach Association now owns the beachfront property at 34 Ocean Ave. Vanderbilts and Astors have been counted among the club’s members. Access is hereditary, and membership is rarely transferred.

The Clambake Club

The Clambake Club, located on Tuckerman Ave. in nearby Middletown, is where members gather for sunset dinners, clambakes, and a dose of coastal tradition far from public view. Organized in 1895, just as the mansions of Newport’s industrialists were sprouting from the earth, the Clambake Club was founded to celebrate the simple things in life: trapshooting, fishing docks, and socializing away from the formal salon‑like gatherings of the Gilded Age. Oliver Belmont, William Astor Chanler, and William Kissam Vanderbilt were among the early members. In 1995, the U.S. Department of the Interior listed the club on the National Register of Historic Places.

The Best Bespoke Hotels of Newport, RI

The Chanler at Cliff Walk

The Chanler at Cliff Walk is a Forbes Five-Star Verified Luxury property, completed in 1873 as the summer residence of John Winthrop Chanler. The New York Congressman’s abode hosted Theodore Roosevelt and Henry Wadsworth Longfellow before the property was converted to a hotel after World War II. Its 20 uniquely themed guest rooms are individually decorated with period-specific furnishings — Victorian, Renaissance, French, etc. In keeping with its historic roots, The Chanler has hosted a Scotch and Cigar dinner pairing with guided Scotch tastings and expert instruction on the art of properly cutting and smoking a cigar.

The Vanderbilt

The Vanderbilt Auberge Collection is more than a luxury hotel; it also serves as an unofficial clubhouse where Newport’s social elite cluck among the museum-worthy art for cocktails and curated soirees throughout the year. There’s a secret bar tucked behind the Doris Duke-inspired drawing room and hand-crafted architectural details throughout the luxury hotel. The Roof Deck is a buzzy scene for dinner and drinks, and an envious location for sunset watchers.

Gardiner House

Gardiner House is a boutique waterfront hotel on Newport’s Lee’s Wharf of Thames Street. Housed in a restored 19th-century wharf building, Gardiner House takes the mansion-scale grandeur to a quieter, casual luxury with quick access to the bustling downtown. Light-filled interiors, maritime views and restrained design reflect the old-money New Englanders who built it, Howard Cushing III-son of American impressionist painter Howard Gardiner Cushing-and local co-owner Wirt Blaffer.

When happy hour unfolds in the hotel’s Studio Bar, the social orbit becomes less casual. The well-heeled don blazers and polish as they ease into low-voiced conversations that define Newport’s inner circle.

Where To Stay, Just Beyond Newport, Rhode Island

The Ocean House

The Ocean House is a magnet for members of Newport’s most exclusive inner circles, despite its Watch Hill address. Opened in 1868, just after the Civil War, the hotel emerged as a premier summer retreat for New England’s social elite. Ocean House exudes Victorian grandiosity with contemporary luxuries like the 12,000-square-foot Ocean & Harvest Spa and an indoor saltwater pool.

The Preserve Sporting Club & Resort

Not technically in Newport, The Preserve, a sweeping, 3,500-acre luxury retreat in Richmond, blends immersive outdoor adventure with high-end accommodations and a 12,000-square-foot spa. Rhode Island’s lone golf resort is a favorite of New Englanders of every handicap; equestrian training stables and an indoor shooting range attract a variety of sportsmen. The property draws Newport’s high society set, who favor its discretion and spa offerings while they maintain their social rhythms in Newport’s private clubs and beaches.

Where To Dine in Newport, RI

Celebrations, singing and dancing spill into the streets and wharf alleys from Newport’s popular waterfront restaurants and bars. Most local haunts serve up the usual New England staples — clam chowder, fresh cracked lobster, Atlantic salmon — but savvy tourists will spot the hints of Newport’s cultural melting pot dotted on the menus across town.

The White Horse Tavern

Take a portal to the 17th century and dine at The White Horse Tavern. Once inside, low ceilings, creaking floorboards and candlelit rooms transport guests to a colonial-era when merchants, politicians and sailors would gather for a meal. Service here is genuinely white-glove; the kitchen will prepare whatever it takes to please a guest, even when it means stepping beyond the menu. This is rarely found, even in the most world-renowned five-star hotels and restaurants.

Flora

With oceanside views and a seasonally rotating menu, Flora delivers elevated cuisine with a luxurious touch. Chef Miguel Somoza takes a creative approach to menus that combine fresh local seafood and seasonal produce from nearby farms. Unlike some local establishments that effectively charge for the ambience, Flora’s food and service justify the price.

Giusto

For fans of Italian flavors — think truffle, polenta, and olive oil — check out Giusto. Chef Kevin O’Donnell’s “Freestyle Italian” concept draws on years of experience in New York, Boston and Italy to elicit one of Newport’s more creative seasonal menus. It might be the only wine list in town that rivals the cellars of Newport’s rich and famous residents.

Yagi Noodles

At Yagi Noodles, James Beard Award-nominated Chef Basil Yu delivers one of New England’s best Asian dining experiences, drawing inspiration from Japanese and Chinese noodle traditions. Elevated yet laid-back, the Yagi experience starts with hand‑milled local flour, and making the noodles in‑house. Wash down your dish with a Boba or Thai Iced Tea, then enjoy a stroll around the Newport Harbor.

Brick Alley Pub & Restaurant

The upscale pub food has gluten-free options and a Portuguese twist that screams Newport. Start your meal with a local favorite, Gary’s Portuguese Littleneck Clams (served with white wine, green peppers, onions, garlic, olive oil, and medium-spiced Chourico Portuguese sausage). Not feeling fancy? Bacon, burgers, and beer are the best.

Music And Year-Round Celebrations in Newport, RI

Newport might be best enjoyed in summer, or as the leaves turn gold and brown in autumn, but it’s a uniquely year-round New England destination. Many mansion tours will continue throughout the winter.

The Breakers goes the extra mile by covering its 13‑acre grounds with tens of thousands of lights, color displays, plus interior visits of the mansion in December. The Elms, the Marble House, and Chateau‑sur‑Mer also deck the halls in the winter months with dozens of trees, hundreds of poinsettias, and special interior arrangements throughout the holidays and into the New Year. This year, Rosecliff Mansion staged two performances of classical music featuring Handel’s Messiah. Newport Vineyards, a longstanding locally owned winery, will continue to host tasting parties through the winter.

The annual Newport Jazz Festival and Newport Folk Festival — the former in August and the latter in July, both held at Fort Adams State Park — featured some of the most talented lineups in their respective genres in 2025. The International Tennis Hall of Fame (housed in Newport) hosts a prestigious grass-court match every July. The Newport Flower Show at the Rosecliff Mansion in June is legendary. Newport’s Polo Club, the first of its kind in the United States, hosts a series of matches from June through September.

History And Culture in Newport, RI

The Newport Historical Society is worth a day to walk through it for anyone curious about Newport’s roots and the provenance of the people. It’s very important to emphasize the slave trade in Newport, but not to overshadow the fact that Newport was identical to many New England towns in the slave trade during this time.

The waves of immigrants who arrived in Newport over the years are evidenced by the town’s diverse local landmarks. So are the cultural tastes that have washed ashore by virtue of Newport’s proximity to Atlantic trade routes.

Newport’s wealth, like many port cities in early America, was built on maritime trade—including its controversial role in the transatlantic slave trade. In the 19th century, waves of Irish immigrants arrived, contributing to the city’s infrastructure and culture. Their legacy remains: many of their descendants now own restaurants, shops, and real estate in town.

Tracing the path from European opulence to American-made wealth begins in Newport. Furniture maker and interior designer Jules Allard et Fils furnished Newport’s summer cottages with treasures inspired by and imported from France. French chefs created magnificent culinary confections for Gilded Age society in Newport. The town’s long history of rum distilleries—best experienced via a Newport Historical Society tasting tour—dates to the era of slavery.

Before the labor population helped the Vanderbilts, Astors, et.al. build their waterfront mansions, wealthy households imported slave labor to build their homes. A center for black history will honor its legacy in the Wanton-Lyman-Hazard House, opening in 2026.

The Museum of Newport Irish History tells the story of the 19th-century immigrants who settled in the town’s Fifth Ward. Modeled after an English synagogue, Touro is the only surviving synagogue building dating to the colonial era. Built in 1763, it’s the oldest synagogue building still standing in the United States and a testament to Newport’s early religious diversity and its ongoing efforts to acknowledge a layered past.

Newport, Rhode island isn’t just another summer town for the 1%. It’s a cultural stronghold with social nuance and generational appeal. Here, family legacies live on through beachfront property and club rosters, and history reveals itself not only in the architecture but in the cadence of daily life. It’s a place where the past and present intermingle like sea and sky.