Serious Coin
Am I Wealthy? Who and What Defines “Rich” in the 21st Century with Winston Chesterfield
Apr 10, 2024
Winston Chesterfield, founder of Barton, discusses wealth tiers, personality traits of wealth creators, and common spending habits among the affluent. The podcast explores the characteristics of self-made ultra high net worth individuals and their preferences for luxury experiences.
32:26
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Quick takeaways
- Wealth is categorized into different tiers based on net worth, with self-made individuals dominating the ultra-high net worth category.
- Inheritors tend to spend more freely than self-made wealthy individuals, who prioritize practical investments and unique experiences like travel.
Deep dives
The Tiers of Wealth
Wealth is categorized into different tiers based on net worth. The first tier includes those with $1-5 million, considered high net worth individuals. The next tier ranges from $5-30 million and is known as very high net worth. This group exhibits diversified wealth profiles with advanced investments. The ultra-high net worth segment comprises individuals with $30-100 million and more, including billionaires. The population at each tier decreases significantly as wealth increases, highlighting the exclusivity of higher wealth categories.
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