What is Ultra High Net Worth? Top 10 High Net Worth Individuals

In order for someone to be regarded as an “Ultra High Net Worth Individual” such an individual’s need to have at least $30 million worth of net investable assets to his or her name. Typically there is no legal definition and the yardstick differ from country to county. In New York City an Ultra High Net Worth Individual will have at least $30 million worth of net investable assets.

As the name suggests, ultra-high-net-worth individuals are the wealthiest people in the world, particularly in the New York City. These individuals are significantly above those who are considered high-net-worth individuals as explained in the body of this work.

The number of ultra-high-net-worth individuals continues to grow, as new people measure up and upgrade from High Net worth level to that of Ultra High Net Worth Individual.

What Constitutes an Ultra-High-Net-Worth Individual?

Typically there’s no legal definition or standard when it comes to defining who is an ultra-high-net-worth individual (UHNWI), they’re mostly defined as those who have at least $30 million worth of investable assets. These funds must be in investable assets, which is an important distinction to make.

For instance, many business owners and real estate investors may have more than $30 million in net worth on paper, but those funds may not be readily available to invest. As a result, such individuals would not be considered ultra-high-net-worth under this definition even if he/she have more than $30 million net worth on paper.

Ultra-high-net-worth individuals are in a distinct category of their own, an individual don’t just get to this stage in just one day, they must have passed through the first category which is the High Net Worth category. To be in the group or category of High Net Worth, you need more than $1.5 million in net worth of investable assets.

It’s important to note that to reach either of these basement, an individual’s investable assets will be without liabilities. This implies that those with lofty amounts to invest as well as high levels of debt may not be categorized as an individual with high net worth or ultra high net worth.

According to Financial information firm Wealth-X, it is discovered that the world’s population of ultra-high-net-worth (UHNW) individuals— people with net worth in excess of $30 million—grew by 1.7 percent in 2020 as against their numbers in the previous year 2019, despite the challenges of COVID-19 pandemic which affected many businesses.

Accordingly, The Wealth Report, published by Knight Frank in 2021, revealed that there are more than 520,000 ultra-high-net-worth individuals in the world, which is an upward move from 2019. About a third of these individuals reside in the U.S. In fact, research shows that the United States (U.S) houses more UHNWIs than any other country, including all of Europe combined.

There are some well-known names at the top of the world’s list of ultra-high-net-worth individuals, including all of the world’s billionaires. Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg and Mackenzie Bezos are all ultra-high-net-worth individuals.

Many billionaires and other ultra-high-net-worth individuals have earned their wealth through starting and owning businesses. Many of these ultra-high-net-worth individuals invest significantly in real estate.

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Top 10 Ultra High Net Worth Individuals in New York City

In New York City, the 10 individual that top the list of Ultra High Net Worth people according to Forbes Media LLC 2021 and Newsweek Digital LLC 2021 are:

1) Michael Rubens Bloomberg:

With $59 billion Net Worth is an American businessman, politician, philanthropist, and author. His the majority owner and co-founder of Bloomberg L.P. He was the mayor of New York City from 2002 to 2013, and was a candidate for the 2020 Democratic nomination for president of the United States.

2) Julia Margaret Flesher Koch

With $46 billion net worth, is an American socialite, billionaire, philanthropist, and one of the richest women in the world. She inherited her fortune from her husband, David Koch, who died in 2019. 

3) Sir Leonard Valentinovich Blavatnik

With net worth of $36 billion is a businessman, investor, and philanthropist. He made his fortune through business via diversified investments in myriad companies through his conglomerate company, Access Industries. 

4) Stephen Allen Schwarzman

With $33 billion net worth is a businessman, investor and philanthropist. He is the chairman and CEO of The Blackstone Group, a global private equity firm he established in 1985 with former chairman and CEO of Lehman Brothers and US Secretary of Commerce Peter G. Peterson.

5) Leonard Lauder

With net worth of $25 billion is an American billionaire, philanthropist, art collector. He and his brother, Ronald Lauder, are the sole heirs to the Estée Lauder Companies cosmetics fortune, founded by their parents

6) Jim Simons or James Harris Simons

With $24 billion net worth is an American mathematician, billionaire hedge fund manager, and philanthropist. He is the founder of Renaissance Technologies, a quantitative hedge fund based in East Setauket, New York

7) Rupert Murdoch

With $23 billion net worth is a billionaire businessman, media tycoon, and investor, he is the owner of News Corp, through which he owners hundreds of local, National, and international publishing outlets around the world

8) Donald Edward Newhouse

He is a billionaire with net worth of $18 billion he is a business magnate. He owns Advance Publications, founded by his father, Samuel Irving Newhouse Sr.

9) Carl Celian Icahn

He is an American activist shareholder with net worth of $15 billion. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in New York City.

10) Charles “Chase” Coleman III

He is an American billionaire hedge fund manager, and the founder of Tiger Global Management. His net worth as at 2021 is estimated at $10.3 billion

Benefits of Being an Ultra-High-Net-Worth Individual

It is good to note that while most people and institutions consider ultra-high-net-worth individuals to be those with more than $30 million in net investable assets, the definition can change from situation to situation.

However, regardless of the standard being used, the largest advantage of being an ultra-high-net-worth individual is the fact that they are incredibly financially influential and comfortable, they also have much more robust investment opportunities than their less wealthy counterparts.

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It’s true that ultra-high-net-worth individuals may have the advantage of being able to work with certain exclusive financial institutions. If you’re considering a big investment or working with a specific financial institution, it may be a good idea to have a conversation to discuss any special treatment or terms that may come along with being an ultra-high-net-worth individual.

Ultra-high-net-worth individuals are all extremely well off financially. Typically, they’ll need to have $30 million in investable assets to qualify, but different institutions and people may have their own definitions of what constitutes an ultra-high-net-worth individual.

Where Do Ultra High Net Worth Individuals Hang Out?

In the paragraphs above we have discussed who is an ultra high net worth individual and the average net worth of people in the top Ultra High Net Worth in New York City. Now, let’s tackle another question: Where do high net worth individuals hang out, and what do they do?

It is note worthy that despite the fact that most ultra high net worth individual are public figure, they still have right to their private and quite lives and the places they visit and what they do there depends on their interests and they don’t hold meetings or gathering of ultra high net worth people.

Most ultra high net worth individuals enjoy traveling with their families, experiencing new places, collecting art, etc. One can find them hanging out on yachts, playing golf, skiing, or at art exhibitions depending on how their hobbies go, ultra-high net worth families also like riding horses, collecting watches, etc.

They tend to own residential properties in places like Boca Raton, Florida, Big Sky, Montana, Los Angeles, California, and more. They also shop at upscale apparel outlets, indulge in home renovations, and shop for furniture.

They also enjoy fine dining, and their most popular travel destinations include New Zealand, Australia, Oceania, Europe, and Asia.

How the Ultra-High-Net-Worth Attain their status

Most Ultra High Net Worth Individuals do not have their money sitting in certificates of deposit, money market accounts, or mutual funds. Many ultra-high-net-worth individuals derive the majority of their wealth from owning their own businesses.

According to Newsweek.com, 21% of Ultra High Net Worth Individuals get most of their wealth from their investment portfolios, and 14% get most of their wealth from their salary.

Most of those ultra-high net worth ascribe their success to their hard work and effort although some of attained that status as a result of their inheritance coupled with their personal effort and investments.

According to Statista.com, 72.5 percent of the world’s ultra-wealthy individuals (UHNW) consider their own wealth to be self-made while 7.4 percent inherited their wealth, with the remainder asserting a combination of inheritance and their own effort. 

What do ultra high net worth individual invest?

In the just concluded paragraph, we have discovered the sources of Ultra High Net Worth Individuals wealth and one can deduce that most of them ascribe their success to self effort hence come the question of what are this effort or what do they invest into that makes them attain this financially comfortable status of Ultra High Net Worth Individuals.

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From every study and research there is no special secret behind them being successful aside from the fact that they understand the basics of having their money work for them and knowing how to take calculated risks while making their investment decisions.

Below are some of the investment decisions and calculated risk that Ultra wealthy people take while growing to become whom they are today:

1) Invest in Physical Assets

Understand the value of physical assets such as real estate and they invest their money accordingly. Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork.

Real estate continues to be a popular asset class in ultra weathy individual portfolios to balance out the volatility of stocks. While it’s important to invest in these physical assets, this kind of assets often scares away smaller investors because of the lack of liquidity and the higher investment price point. These assets aren’t as susceptible to market swings, and they pay off over the long term. 

2) Invest in Private Market

UHNWIs understand that real wealth is generated in the private markets rather than the public or common markets. The ultra wealthy gain a lot of their initial wealth from private businesses, often through business ownership or as a sole investor in private equity.

Additionally, they use private equity investments to generate high returns and add to the funds’ diversification thereby tapping into profit s from divers businesses

3) Avoid Comparison and Competition

The ultra-wealthy are very good at not comparing their wealth to other individuals but they remain focus on their set investment goals and strategies of where they want the business to be in the next 10 or 20 years and they see that such set goals are achieved.

They don’t compet on luxuries of numbers of cars, houses etc that a colleague or business counterpart might have achieved. This is a trap that many non-wealthy people fall into. UHNWIs stave off the desire to purchase a Lexus just because their neighbors are buying one.

Instead, they invest the money they have to compound their investment returns. Then, when they’ve reached their desired level of wealth, they can cash out and buy the toys they want.

4) Save Money and Make Investments

As we have seen above ultra wealthy people are invest wisely and they also maintain a good saving by this they focus on increasing their cash inflows as well as reducing their cash outflows, thus increasing overall wealth.


Obviously, the number of Ultra High Net Worth Individuals in the world and New York City in particular keeps increasing on yearly bases as many investors are taking the steps and techniques of the Ultra wealthy in their investment decisions as there is no special secret to attain this status than being focus and taking calculated risk while investing.


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