Defining an Ultra-High-Net-Worth Individual

An ultra-high-net-worth individual typically refers to someone whose net worth surpasses $30 million, setting them apart from high-net-worth individuals who usually have assets between $1 million and $30 million. Ultra-high-net-worth individuals often hold substantial influence in business and finance, as their wealth extends into diverse assets, including real estate, private equity, and art collections. This financial status not only impacts investment strategies but also entails unique considerations in wealth management, tax planning, and estate structuring.

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What Constitutes an Ultra-High-Net-Worth Individual?

While there’s no legal standard when it comes to defining who qualifies as an ultra-high-net-worth individual (UHNWI), those worth at least $30 million are typically considered to have reached this threshold, according to The Wealth Report, an annual study published by London-based Knight Frank.

Most people, countries and financial institutions will abide by this standard, but some will have other definitions. For example, institutions may tie a person’s status an UHNWI to how much their investable assets are worth. As a result, many startup founders, business owners and real estate investors may have more than $30 million in net worth on paper, but those funds may not all be available to invest. In turn, such individuals may not be considered ultra-high-net-worth under this definition.

If a financial institution says it only works with ultra-high-net-worth individual clients, it’s worth clarifying with the company how they define UHNWIs.

High-Net-Worth vs. Ultra-High-Net-Worth

High-net-worth individuals (HNWIs) typically have assets between $1 million and $30 million, while those with an ultra high net worth hold assets of $30 million or more. This difference in net worth is not just numerical – it reflects broader distinctions in financial strategies, service needs and lifestyle.

HNWIs, for example, may have complex financial portfolios but often manage them within a more traditional framework, whereas UHNWIs tend to require tailored wealth management approaches that address the increased complexity and diversification of their asset base.

While both HNWIs and UHNWIs may diversify their investments, UHNWIs usually access a wider range of private market investments and exclusive financial products. HNWIs typically build portfolios around traditional asset classes, such as stocks, bonds and real estate, possibly including some alternative investments.

UHNWIs, however, commonly invest in private equity, hedge funds and other high-value assets like art, collectibles or even direct ownership in emerging companies. These options offer UHNWIs potential returns and diversification that aren’t typically available to HNWIs.

UHNWIs often require more comprehensive structures, such as family offices, that offer services beyond basic financial planning. Family offices cater specifically to UHNWIs, providing financial management as well as personal services like concierge support, lifestyle management, and intergenerational wealth education. This distinction reflects the need for UHNWIs to not only manage complex portfolios but also address family dynamics and wealth preservation across generations.

Who Makes Up the World of Ultra-High-Net-Worth Individuals?

According to The Wealth Report, published by Knight Frank in 2024, there are more than 626,600 ultra-high-net-worth individuals in the world. Over a third of these individuals live in the U.S. In fact, the U.S. houses more UHNWIs than any other country, including all of Europe combined. China has a large percentage of the world’s ultra-high-net-worth individuals, too. Only about 15% of the world’s UHNWIs are women.

It’s worth noting, however, that other studies have found different numbers of global ultra-high-net-worth individuals. For example, Barron’s reported a total of about 300,000 for 2020.

There are some well-known names atop 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 their wealth through starting and owning businesses. Many of these ultra-high-net-worth individuals invest significantly in real estate.

Benefits of Being an Ultra-High-Net-Worth Individual

Remember that while most people and institutions consider ultra-high-net-worth individuals to be those with at least $30 million in net assets, the definition can change from situation to situation. However, regardless of the standard being used, the largest advantage of being an ultra-high-net-worth individual is the fact that you’re incredibly financially comfortable and you may have much more robust investment opportunities than your less wealthy counterparts.

It’s true that ultra-high-net-worth individuals may have the advantage of being able to work with certain exclusive financial institutions but hitting that $30 million mark usually ends up being more of a status symbol and a statistic than anything else. If you’re considering a big investment or working with a specific financial institution, 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.

Bottom Line

Ultra-high-net-worth individuals are all extremely well off financially. Typically, they’ll need to have $30 million in investable assets to qualify, but different institutions and people may have their own definitions of what constitutes an ultra-high-net-worth individual.

There are ultra-high-net-worth individuals around the world, but most reside in the United States and most are older men. While high-net-worth individuals and very-high-net-worth individuals are also impressive financial distinctions, ultra-high-net-worth individuals sit at the very top of the wealth pyramid and may have special access to certain financial institutions and investments.

Tips for Investing Effectively

Whether you’re an ultra-high-net-worth individual or not, investing for the long term can sometimes require some guidance. A financial advisor can be a great resource to help you figure out how to build your portfolio. Luckily, SmartAsset’s free tool matches you with up to three financial advisors in your area in five minutes. Get started now.
If you’re going at your investment portfolio by yourself, it pays to be prepared and well researched. SmartAsset has you covered with a number of free online resources to help you become a pro. For example, check out our free investment calculator and get started investing today.