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

For someone to be regarded as an “Ultra High Net Worth Individual,” such an individual must have at least $30 million worth of net investable assets. There is no legal definition, and the yardstick differs from country to county. In New York City, an Ultra High Net Worth Individual will have at least $30 million in net investable assets.

As the name suggests, ultra-high-net-worth individuals are the wealthiest people in the world, particularly in New York City. These individuals are significantly above those 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 for defining who is an ultra-high-net-worth individual (UHNWI). They’re primarily defined as those with at least $30 million worth of investable assets. These funds must be in investable assets, which is an important distinction.

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

Ultra-high-net-worth individuals are in a distinct category of their own; an individual doesn’t just get to this stage in just one day; they must have passed through the first category, 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 an individual’s investable assets will be without liabilities to reach either of this basement. This implies that those with high amounts to invest and high debt levels may not be categorized as individuals with a high net 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 a net worth over $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 more than 520,000 ultra-high-net-worth individuals worldwide, an upward move from 2019. About a third of these individuals reside in the U.S. Research shows that the United States (U.S.) houses more UHNWIs than any other country, including all of Europe combined.

Some well-known names are 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 wealth by 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 ten individual that tops the list of Ultra High Net Worth people according to Forbes Media LLC 2021 and Newsweek Digital LLC 2021 are:

Michael Rubens Bloomberg:

With a $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. He was a candidate for the 2020 Democratic nomination for president of the United States.

Julia Margaret Flesher Koch

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

Sir Leonard Valentinovich Blavatnik

A businessman, investor, and philanthropist have a net worth of $36 billion. He made his fortune through business through diversified investments in various companies through his conglomerate, Access Industries. 

Stephen Allen Schwarzman

With a $33 billion net worth, Allen Schwarzman 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 U.S. Secretary of Commerce Peter G. Peterson.

Leonard Lauder

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

Jim Simons or James Harris Simons

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

Rupert Murdoch

With a $23 billion net worth, he is a billionaire businessman, media tycoon, and investor; he owns News Corp, through which he owns hundreds of local, National, and international publishing outlets worldwide.

Donald Edward Newhouse

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

Carl Celian Icahn

He is an American activist shareholder with a 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.

Charles “Chase” Coleman III

He is an American billionaire hedge fund manager and the founder of Tiger Global Management. His net worth as of 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 most significant advantage of being an ultra-high-net-worth individual is 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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Ultra-high-net-worth individuals may have the advantage of working with certain exclusive financial institutions. Suppose you’re considering a significant investment or working with a specific financial institution. In that case, 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 exceptionally well off financially. Typically, they’ll need $30 million in investable assets to qualify, but different institutions and people may have their 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?

Notably, even though most ultra-high-net-worth individuals are public figures, they still have the right to private and quiet lives. 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 their hobbies; ultra-high-net-worth families also like riding horses, collecting watches, etc.

They own residential properties in Boca Raton, Florida, Big Sky, Montana, Los Angeles, California, and more. They also shop at upscale apparel outlets, renovate homes, 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 need to have their money sitting in certificates of deposit, money market accounts, or mutual funds. Many ultra-high-net-worth individuals derive most of their wealth from owning their 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 from their salary.

Most of those ultra-high net worth ascribe their success to their hard work and effort, although some attained that status due to their inheritance, personal struggle, and investments.

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

What do ultra-high net worth individuals invest?

In the just concluded paragraph, we have discovered the sources of Ultra High Net Worth Individuals’ wealth. One can deduce that most of them ascribe their success to self-effort. Hence, the question of what is this effort or what they invest in 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 their success; they understand the basics of having their money work for them and know how to take calculated risks while making investment decisions.

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

Invest in Physical Assets

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

Real estate continues to be a popular asset class in ultra-wealthy individual portfolios to balance out the volatility of stocks. While investing in these physical assets is essential, this kind of asset often scares away smaller investors because of the need for more liquidity and the higher investment price point. These assets aren’t as susceptible to market swings, and they pay off over the long term. 

Invest in the Private Market

UHNWIs understand that real wealth is generated in the private markets rather than the public or everyday needs. The ultra-wealthy gain much 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 profits from diverse businesses

Avoid Comparison and Competition

The ultra-wealthy are very good at not comparing their wealth to other individuals, but they remain focused 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 compete 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 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.

Save Money and Make Investments

As seen above, ultra-wealthy people invest wisely and maintain good savings. By this, they focus on increasing their cash inflows and reducing their cash outflows, thus increasing overall wealth.


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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