What is a High-Net-Worth Individual (HNWI)? A high-net-worth individual (HNWI) is an individual with a high net worth. How do I get my HNI status? There is no single answer to this question as the definition of an HNI varies from country to country and even from organization to organization. However, in general, an HNI … Read more
A status symbol is an object which is used to indicate one’s social or economic status. In some cases, status symbols are also used to indicate one’s political affiliation or religious beliefs. The term “status symbol” can be traced back to the early 1800s, when it was first used in print by French writer Honoré … Read more
A blind trust is a financial arrangement in which a third party, called a trustee, manages assets for the benefit of another person, called the beneficiary. The trustee is legally obligated to manage the assets in the best interests of the beneficiary, and the beneficiary is not allowed to know or control how the assets … Read more
Conspicuous consumption is the act of spending money on luxury items or services in order to display one’s wealth or social status. The term was first coined by economist Thorstein Veblen in his 1899 book The Theory of the Leisure Class. Veblen argued that the wealthy elite engage in conspicuous consumption as a way to … Read more
An Ultra-High-Net-Worth Individual (UHNWI) is an individual with a net worth of over $30 million. This designation is given to only 0.003% of the world’s population and is typically used to describe people with a high degree of financial assets and income. UHNWIs are typically defined as individuals who have a net worth of $30 … Read more
