The definition of ultra-high net worth (UHNW) is shifting as global wealth grows and expectations change. While some firms define UHNW at $10 million, others say it's closer to $30 million or even $100 million.
Talk to 10 different wealth industry professionals about when you become super-rich and you will get 10 different answers. For a law firm, it can mean having investable assets — spare cash not tied up in property — of $10mn; for a wealth manager, it can mean having at least $30mn; for an exclusive private members’ club, the hurdle can be as high as $100mn. What they do agree on, however, is that the base figure is rising, and quickly.
” A painting by Jean-Michel Basquiat, for example, sold for $57.3mn at an auction in 2016 then again for $85mn six years later. Likewise, the price of entry into exclusive property markets such as Monaco, Mayfair or Aspen in Colorado has soared, with the average price of a house in London’s Grosvenor Square, for example, stretching to around £20mn.
Wealth Ultra-High Net Worth UHNWI Definition Inflation Global Wealth
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chelsea boss Enzo Maresca defines role for each of his attacking players and where they will play this...Enzo Maresca defines the roles for Chelsea's attacking players uncluding Jadon Sancho, Noni Madueke, Cole Palmer and more...
Read more »
AFC Wimbledon: More Than Just A Football ClubThis article explores AFC Wimbledon, a club founded by fans after the original Wimbledon FC was moved. It delves into the spirit of community and dedication that defines the club, highlighting its unique history and passionate supporters.
Read more »
Can Real Madrid's Attacking Trio Reach Messi-Suarez-Neymar Heights?The article discusses the potential of Real Madrid's attacking trio of Kylian Mbappe, Jude Bellingham, and Vinicius Jr. to reach the heights of legendary trios like Messi-Suarez-Neymar, comparing their individual talent with the need for chemistry and sacrifice that defines truly great teams.
Read more »
Vintage items that could be worth a fortune - including Disney VHS worth £30,000Here are some common things people have in their homes that could earn a nice extra wedge of cash
Read more »
Ultra-low-dose ketamine can curb opioid withdrawalDrug overdose is the leading cause of injury deaths in young adults in the United States, with fentanyl causing over 70,000 deaths annually.
Read more »
Eight ultra-processed foods you can eat guilt-free after groundbreaking studyA new study has found that some ultra-processed foods can be eaten as part of a normal diet, with a nutritionist revealing eight that are actually good for you
Read more »