Any Ultra High Net Worth Individual (UHNWI) here? What do you do?

[HawaiiShrimp]

What Is an Ultra-High Net-Worth Individual (UHNWI)? Ultra-high-net-worth individuals (UHNWI) are people with investable assets of at least $30 million. They comprise the wealthiest people in the world and control a tremendous amount of global wealth.


Any Ultra High Net Worth Individual (UHNWI) here? Amazing job!

1. What do you do for fun?
2. How you get to where you are?
3. What are you doing to stay wealthy?
4. What is your splurge?
5. Do you own a jet? a yacht?
6. Do you have houses in different countries?

I am trying to visualize how UHNWI really lives? Thanks.

 

[Ready]

Any Ultra High Net Worth Individual (UHNWI) here? Amazing job!

1. What do you do for fun?
2. How you get to where you are?
3. What are you doing to stay wealthy?
4. What is your splurge?
5. Do you own a jet? a yacht?
6. Do you have houses in different countries?

I am trying to visualize how UHNWI really lives? Thanks.

I think you are going to have to define what an Ultra High Net Worth Individual is before anyone could respond to this. People have widely different perceptions of what makes someone wealthy.

 

[Car-Guy]

Any Ultra High Net Worth Individual (UHNWI) here? Amazing job!

1. What do you do for fun?
2. How you get to where you are?
3. What are you doing to stay wealthy?
4. What is your splurge?
5. Do you own a jet? a yacht?
6. Do you have houses in different countries?

I am trying to visualize how UHNWI really lives? Thanks.

I have the vision, does that count or help?

 

[audreyh1]

Ha!

 

[RobbieB]

Not me. I live in a tract house.

 

[audreyh1]

I think you are going to have to define what an Ultra High Net Worth Individual is before anyone could respond to this. People have widely different perceptions of what makes someone wealthy.

Wikipedia says:

Ultra-high-net-worth individuals (UHNWI) are defined as having a net worth of at least US$30 million in constant 2018 dollars

 

[WhenIsItTime]

Please name a $#. Toe-tapping.

 

[Ready]

In the industry I worked in for many years my clients net worth ranged anywhere from $100 million to several billion dollars. There was not one client at our company who “needed” to work to earn an income. And yet my experience with these folks was that they were some of the hardest working people I’ve ever known. They were running large companies, building new companies, investing in new markets, and competing aggressively for business against other high net worth individuals. They were completely driven by success and had no interest at all in retiring and living a “life of leisure”.

 

[NW-Bound]

Ultra High Net Worth Individual as someone who owns a jet or a yacht?

You are talking about someone who has several hundred million, just to own a jet, let alone a yacht. A mere centimillionaire can not afford a yacht, as it would consume most of his $100M already, leaving him with no money for maintenance, staffing, and fuel.

Someone with $100M can afford a jet timeshare, or rent a yacht or a week or two. I think he would be too busy enjoying himself to post here.

 

[Stormy Kromer]

I split wood, butchered a deer and made a pot of home made ham & bean soup today. I had a sip of Seagrams before a slice of meatloaf & garden vegetables, homemade bread then watched a rerun of Dances with Wolves on DVD next to a roaring fire in the wood stove.


Now, what is a UHNWI ? If I can't do what I did today I don't want to be one.

 

[Fermion]

Sometimes for fun I take our jet to our winery in southern France to check on things but mostly I stay on our island.

 

[Aerides]

You'll find we have a mix here, from those just starting out in their careers on a path to ER many years in the future, to those sharing decades of experiences after retiring.

A vast majority of those already retired are in the low-mid 7 figure NW category, based on what's shared. Some are FIRE'd on a leaner NW but quite comfortably, or have pensions, etc. Then there are some folks who identify with FAT Fire, generally in the 10M+ club.

However, I personally think the $50M+ club isn't retired. They become VC's or something else. The type of personality to drive that sort of income, not stop at $5m, or $10M, or the 3rd home, generally isn't the type that's going to be happy without the trappings of titles, status and power. ymmv.

 

[RobbieB]

Yup, they don't post here.

 

[HawaiiShrimp]

You'll find we have a mix here, from those just starting out in their careers on a path to ER many years in the future, to those sharing decades of experiences after retiring.

A vast majority of those already retired are in the low-mid 7 figure NW category, based on what's shared. Some are FIRE'd on a leaner NW but quite comfortably, or have pensions, etc. Then there are some folks who identify with FAT Fire, generally in the 10M+ club.

However, I personally think the $50M+ club isn't retired. They become VC's or something else. The type of personality to drive that sort of income, not stop at $5m, or $10M, or the 3rd home, generally isn't the type that's going to be happy without the trappings of titles, status and power. ymmv.

Personally, I only know 1 UHNWI so far. NW should be $50M or above. He's an owner of a very successful escrow company in CA. His company is pretty much taken care by his staffs, so he has time to come out and shoot long rifles with me whenever he can. He got 2 houses, both fancy big homes. Drive a corvette and own 2 mercedes, that's it. As you said, he's also NOT retired yet. He doesn't have to, I suppose. "It's just not a lot of work anymore."

I guess lots of UHNWI are small business owners.

 

[aja8888]

Sometimes for fun I take our jet to our winery in southern France to check on things but mostly I stay on our island.

You have an island? Well, I feel sorry for you......WE have our own country. And we go to it on our 747 (with a few friends,of course)!

 

[audreyh1]

You have an island? Well, I feel sorry for you......WE have our own country. And we go to it on our 747 (with a few friends,of course)!

Hey - did you buy that cool Led Zeppelin 747?

 

[Boho]

A mere centimillionaire can not afford a yacht, as it would consume most of his $100M already, leaving him with no money for maintenance, staffing, and fuel.

I know nothing about the rich life but I find that hard to believe.

 

[aja8888]

Hey - did you buy that cool Led Zeppelin 747?

No, I leased that one to them and had Boeing build me one to my specifications. (LOL)

Fermion needs to step up his game with only a jet!

 

[NW-Bound]

Sometimes for fun I take our jet to our winery in southern France to check on things but mostly I stay on our island.

If you have a landing strip for your jet right inside the winery, you are doing well. I presume that the island has a landing strip also.

You have an island? Well, I feel sorry for you......WE have our own country. And we go to it on our 747 (with a few friends,of course)!

I dunno. Saddam Hussein and Gaddafi used to say they had their own countries.

 

[WhenIsItTime]

Personally, I only know 1 UHNWI so far. NW should be $50M or above. He's an owner of a very successful escrow company in CA. His company is pretty much taken care by his staffs, so he has time to come out and shoot long rifles with me whenever he can. He got 2 houses, both fancy big homes. Drive a corvette and own 2 mercedes, that's it. As you said, he's also NOT retired yet. He doesn't have to, I suppose. "It's just not a lot of work anymore."



I guess lots of UHNWI are small business owners.

Not sure a “small business” yields $50M of net worth.

 

[SecondCor521]

I think they'd be more likely to be at Bogleheads. Although if they're here, I doubt they would tell you.

I knew one. Fortune 500 CEO then started a cruise ship company. NW was apparently about $800M, but liked to drink Two Buck Chuck at dinner. Wife was one of the grouchiest people I've ever met, and the rest of the family wasn't a bargain either. But he was a great guy and very likeable. He's probably passed away by now as I knew him about 10 years ago and he was in his 90's then.

 

[luckydude]

What Is an Ultra-High Net-Worth Individual (UHNWI)? Ultra-high-net-worth individuals (UHNWI) are people with investable assets of at least $30 million. They comprise the wealthiest people in the world and control a tremendous amount of global wealth.


Any Ultra High Net Worth Individual (UHNWI) here? Amazing job!

1. What do you do for fun?
2. How you get to where you are?
3. What are you doing to stay wealthy?
4. What is your splurge?
5. Do you own a jet? a yacht?
6. Do you have houses in different countries?

I am trying to visualize how UHNWI really lives? Thanks.

I think folks in the UHNW club would be too busy enjoying life or running up the score (even though they've already won the game) to find time to post here.

Unfortunately DW and I reside in the lower rung (merely VHNW) so I am not qualified to answer your questions. However, I think there's a real good chance that we can move up to the UHNW rung within the next decade if all goes well (and assuming the Covid vaccine doesn't misfire and turn everyone into zombies like in the movies), and if/when we do, I promise to come back here and answer your questions

Lucky Dude

 

[HawaiiShrimp]

I think folks in the UHNW club would be too busy enjoying life or running up the score (even though they've already won the game) to find time to post here.

Unfortunately DW and I reside in the lower rung (merely VHNW) so I am not qualified to answer your questions. However, I think there's a real good chance that we can move up to the UHNW rung within the next decade if all goes well (and assuming the Covid vaccine doesn't misfire and turn everyone into zombies like in the movies), and if/when we do, I promise to come back here and answer your questions

Lucky Dude

Thank you. I intend to reach UHNW in ten years (or less) too. Let's visit back to this thread. That's our motivation.

 

[luckydude]

Thank you. I intend to reach UHNW in ten years (or less) too. Let's visit back to this thread. That's our motivation.

Awesome. See you there!

 

[NW-Bound]

Ultra High Net Worth Individual as someone who owns a jet or a yacht?

You are talking about someone who has several hundred million, just to own a jet, let alone a yacht. A mere centimillionaire can not afford a yacht, as it would consume most of his $100M already, leaving him with no money for maintenance, staffing, and fuel.

Someone with $100M can afford a jet timeshare, or rent a yacht or a week or two. I think he would be too busy enjoying himself to post here.

I know nothing about the rich life but I find that hard to believe.

It depends on the definition of a "yacht", the same as the definition of UHNW.

I guess I am influenced by what I saw on the Web about these yachts.

See: https://www.luxhabitat.ae/the-journal/top-10-most-expensive-yachts-in-the-world/