There’s a big difference between operating in the real world guiding companies/entrepreneurs that are making moves each day versus asking questions in Google/ChatGPT for surface-level results, and this blog touches on what actually defines someone or their family as ultra-high-net-worth? And the simple answer is: It’s all relative.
Run a search in Google or any other platform around what defines someone as ultra wealthy and take a step back to look at all of the results – most of which come from the same sources and toss out numbers that are totally subjective.
For example, many searches in Google produce AI results that highlight $30M in assets equating to being ultra wealthy and that’s flawed because they’re too focused on the linguistics/terminology as opposed to fusing more real world data.
Based on our experience and what being ultra wealthy means is both a dollar figure as well as being truly happy in your life and spending time with your family. Do you want to wake up each day focused on growth/money or position yourself in a way so you can see your kids grow and thrive while the income keeps flowing?
As humans we all look at wealth differently, and yes having millions in the bank and other investments spread across various areas feels good yet at this stage in your life that hard work has to be for something whether it’s spending time with family, coaching your kids softball team and/or philanthropic ventures the list goes on.
The moral of this story is that being ultra wealthy isn’t only related to the money/assets you’ve accumulated but instead the freedom and meaningful relationships fostered in business and beyond.. If you’re a CEO at a top tech company listed in the S&P 500 you’re literally working 24/7 – and how are you going to feel when you miss your kid’s birthday, graduation, baseball game, etc. due to work?
Sometimes wealth isn’t so much around the dollar signs, which matter, but also the freedom to live your best life.