Ultra high net worth
Sources:
Here are some notable discussions about ultra high net worth individuals and concepts from "My First Million":
-
Private Equity Returns: Sam Parr discusses how ultra high net worth individuals achieve higher returns by investing in private equity versus public markets. He shares a staggering statistic that private equity investments have significantly outperformed the stock market over the past 35 years. This explains why ultra high net worth individuals often allocate a large portion of their assets to private equity and real estate. 1
-
Wealthx Database: Sam Parr introduces Wealthx, a company that compiles a comprehensive database of ultra high net worth individuals (defined as those with $30 million in assets). Wealthx creates detailed annual reports on how wealthy people allocate their assets, which is valuable for financial advisors and businesses. 2
-
Exclusive Experiences: Shaan Puri and Sam Parr talk about a service called Mirror, which offers ultra high net worth individuals exclusive and unique experiences that money typically can't buy, such as VIP access to events and personalized interactions with celebrities. The membership for such services requires a commitment to spending significantly on lifestyle alone. 3
-
Wealth and Lifestyle: Michael Sonnenfeldt discusses the disconnection between wealth and lifestyle using Warren Buffett as an example. The conversation also explores the demographics of Tiger 21, a group of high net worth individuals who share diverse business experiences. 4
-
Private Equity Net Worth: Sahil Bloom explains the financial dynamics of private equity, highlighting how principal owners of private equity funds accumulate significant wealth due to high management fees and profit-sharing. The discussion also contrasts this with the time and effort involved in traditional company building. 5
RELATED QUESTIONS-
