The Awful Quandary of the Super-Rich: Palm Beach or Manhattan?

Wealthy Florida transplants are back north for August, sipping Southsides—and claiming bragging rights—with their skeptical Gothamite friends.

When rich people hang out, the conversations are always laced with one-upmanship. Tennis elbow? My orthopedist can fix all. Long Island to Cape Cod? Fly private from East Hampton—it's the only way.

It's summertime, and wealthy New Yorkers who moved to Florida are back North. From East Hampton to Kennebunkport, everyone's in the same sandbox now. It's time to compare who has the shiniest bucket: those who decamped or those who stayed.

Palm Beach: the best decision ever? Yep, or so they claim. They golf before work and take a dip on Billionaires' Row beachfront after work. It's only two hours by speedboat to go bonefishing in the Bahamas.