The uber wealthy live a world apart and their investing strategies also look vastly different from the average investor’s portfolio.
“While there is no official threshold, centimillionaires or individuals with a total net worth of over $100 million, is a good benchmark as entry into the 0.001% club,” said Kevin Teng, CEO of WRISE Wealth Management Singapore, a wealth enterprise for ultra-high net worth individuals.
They bestow knighthood on you in the United States when you buy an NFL team.
Salvatore Buscemi
CEO of Dandrew Partners
“These cities boast robust financial infrastructure, vibrant entrepreneurial ecosystems, and lucrative real estate markets, making them attractive destinations for the ultra-wealthy?,” Teng told CNBC.
And this demographic that “epitomizes extreme wealth” is selective when it comes to investments, Teng said.
“They don’t invest in get rich, quick things, illiquid things today. For example, that means they don’t really do publicly traded equities,” said Salvatore Buscemi, CEO of Dandrew Partners, a private family investment office.
“They actually don’t even invest in crypto, believe it or not,” Buscemi told CNBC via Zoom. “What they’re looking for is to preserve their legacy and their wealth.”
1. Real estate
As a result, centimillionaire portfolios often feature “very strong, stable pieces of real estate,” Buscemi said. These wealthy individuals gravitate toward “trophy asset” Class A properties, or investment-grade assets that typically were built within the last 15 years.
Michael Sonnenfeldt, founder and chairman of Tiger 21 — a network of ultra-high net worth entrepreneurs and investors — told CNBC that real estate investments typically represent 27% of these individuals’ portfolios.
2. Family offices as investment vehicles
Individuals of such wealth generally have their money managed by single family offices, which handle everything including their inheritance, household bills, credit cards, immediate family expenses, etc., said Andrew Amoils, an analyst at global wealth intelligence firm New World Wealth.
“These family offices often have foundation arms for charities and venture capital arms that invest in high growth startups,” said Amoils.
Ultra high net worth individuals also explore potentially buying stakes in professional sports teams, said Dandrew’s Buscemi.
“That’s a very, very insulated group to get into and requires a lot more than just money,” he said.
The exclusivity is a major appeal as these wealthy individuals want to mingle with people of similar status, Buscemi explained. Owning a stake in a sports team is a way for these individuals to legitimize their status, he said.
Owner Jerry Jones of the Dallas Cowboys welcomes fans to training camp at River Ridge Complex on July 24, 2021 in Oxnard, California.
Jayne Kamin-Oncea | Getty Images Sport | Getty Images
“They bestow knighthood on you in the United States when you buy an NFL team,” he said, like how American businessman and billionaire Jerry Jones bought the Dallas Cowboys in 1989.
WRISE’s Teng also noted that 0.001% individuals pay more attention to fixed income, private credit and alternative investments. He said private credit is gaining traction as investors seek sources of yield outside of conventional markets.
“This trend reflects a growing appetite for non-traditional assets that offer unique risk-return profiles,” said Teng, noting that alternative investments include venture capital, private equity and real assets.
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Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.
There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.
Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon
The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.
Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.
Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”
Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”
You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.
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Time is the most valuable thing any of us has. Therefore, why not keep track of it in the most accurate and stylish way possible, relishing every second? Amazon can help you do that with its incredible selection of high-end watches. One of them, from Citizen, is currently available for half off, and we think it ticks all the boxes.
The Citizen Calandrier Eco-Drive Watch is on sale for $260 right now, which is 50% off the regular price of $525. Not only does this watch give you the time, but it even tells you the day and the date.
Citizen Calandrier Eco-Drive Watch, $260 (was $625) at Amazon
While a watch that tells the time is useful, one that does that and lets you know exactly what day and date it is can keep you on schedule better than you might imagine. In addition to the time, day, and date functions, this watch has a 24-hour tracker and world time function, so you can know what time it is anywhere in the world.
With a stainless steel case and bracelet, the timepiece oozes elegance and durability. Its blue dial is highly legible and attractive, and is sure to get you plenty of compliments. It also has a scratch-resistant mineral crystal and 100 meters of water resistance. The Japan-made quartz movement inside operates off of solar energy, provided by the Eco-Drive technology within.
Amazon customers raved about this watch. One called it “my favorite watch,” adding, “I fell in love with how it looked…It feels and looks like a very high-quality watch. All the functions work perfectly and are not hard to read.”
Another touted the “beautiful blue dial,” and said, “I love good-looking watches…but if the design can incorporate useful functions as well, it’s a winner for me. And this watch does all of that.”
The Citizen Calandrier Eco-Drive Watch will let you know exactly when you are, and it can do so in style. It can also do so for only $260 at the moment, so why not take a chance? We would never waste your time if it weren’t worth it.