The term describes individuals holding substantial liquid assets. Typically, this encompasses those possessing $30 million or more in investable assets, excluding personal residences, collectibles, and consumer durables. For example, a person with a portfolio of stocks, bonds, and other investments totaling $45 million would be categorized under this designation.
The concentration of wealth at this level has significant implications for financial markets, philanthropic endeavors, and economic policy. These individuals often drive investment trends, support large-scale charitable initiatives, and influence governmental regulations related to taxation and wealth management. Historically, the accumulation of such significant capital has been associated with entrepreneurial success, inheritance, and strategic investment decisions.
