The range of financial net worth in the highest tier of wealth. One common lower threshold for UHNW wealth is $30 million (US dollar/USD). Upper thresholds range to the billions.
Delineation of ranges of wealth are often used in wealth management to help define subgroups or target services. Definitions of wealth levels typically focus on “investable net worth, independent of primary residence,” since the value of one’s residence may contribute significantly to net worth. Investable net worth also may exclude illiquid but very significant assets such as the value of a privately held business. Many wealth management firms prefer to distinguish a client’s overall net worth (including business ownership) from only those investable assets available for management by the advisory firm.
Although there are no official standards for different ranges, there are common terms representing similar groups. The mass affluent range is often defined as the $1 million USD – $5 million USD range (sometimes called “the millionaire next door” after the renowned 1998 book of the same name). HNW is the next level up, from $5 million USD to either $30 million or $50 million. Capgemini, a wealth consulting and research firm, also defines this level as “mid-tier millionaires.” Ultra-high-net-worth (UHNW) is the highest level, extending from at least $30 million into the billions.
The terms ulta-high-net-worth individual (UHNWI) or ulta-high-net-worth family (UHNWF) denotes the holder(s) or beneficiary(ies) of this wealth.
See Also: UHNW
Capgemini Research Institute. “World Wealth Report.” June, 2023. https://prod.ucwe.capgemini.com/wp-content/uploads/2023/05/WWR-2023_web.pdf.
Stanley, Thomas J., and William D. Danko. The Millionaire Next Door: The Surprising Truth about Wealth in America. Pocket Books, 1998.