Entrepreneurs - March 12, 2022

There are 15 Types of Rich People – Which Do You Want to Be?

Simeon Onoja March 12, 2022

9 min read

A dive into the different types of rich people around the world.

It’s easy to assume that all rich people fall into one category. But with closer scrutiny, you’ll find different types of rich people. From how they made their money to what they can afford, there are several criteria for classifying the rich.

Before we give you our take, here’s a standard outlook for the different kinds of rich people

Types of Rich People

Affluent individuals (net worth less than $1 million but more than $100,000)
High-net-worth individuals (HNWIs) (net worth: $1 million to $5 million)
Very-high-net-worth individuals (VHNWIs) (net worth: $5 million – $30 million)
Ultra-high-net-worth individuals (UHNWIs) (net worth: $30 million or more)
Billionaires (net worth $1 billion or more)

The Classification Of Wealthy Individuals

Millionaires (net worth $1 million or more)
Pentamillionaire (net worth $5 million or more)
Decamillionaire (net worth $10 million or more)
Billionaires (net worth $1 billion or more)

Rich Vs Super Rich Vs Ultra Rich

The Rich (net worth less than $500 million but more than $1 million)
The Super Rich (net worth $500 million or more)
The Ultra Rich (net worth $1 billion or more)

Our take on the different types of rich people:

1. Just Got Rich

People who didn’t expect that they were going to become rich as soon as they did. They took a huge risk on an emerging, thriving business and could have lost everything. Fortunately, things worked out, and now they’re counting their millions. This group of individuals mostly purchases liabilities. They usually assume whatever made them money will always be there.

2. Real Estate Rich

These individuals aren’t cash-rich but have a portfolio of real estate assets that will probably make them rich in the years to come. A lot of them live below their means and will most likely be smiling to the bank when they cash in on their real estate millions.

3. Trading and Hedge Funds Rich

These type of rich people make their money from predicting the stock markets. They usually on edge, as a simple mistake could mean losing everything.

4. Royal Family Rich.

They are the reflection of old money. These individuals are mostly humble, well dressed and besides their expensive cars and aides, it’s hard to tell they are wealthy.

5. Tech Rich

People who got rich from developing an idea with a few friends and it blew up. They usually get their money from investors or by selling a business.

6. Philanthropic Rich

People from rich backgrounds or who made millions very early and now want to pursue their true passion of giving back. What Akon is doing in Africa, Strive Masiyiwa’s donation, and the Bill and Melinda Gates Foundation are all examples.

7. Celebrity Rich

People who have made money from fame. Some of them lose their wealth from trying to meet up wih the expectations of their fans.

8. Daddy Money

People who have rich parents. They sometimes feel disconnected.Some of them are entitled and end up losing most if not all of their parent’s fortune. While some appreciate the efforts of their parents and continue from where they stopped.

9. The Secretive Rich

People who made their money illegitimately, have probably gone to jail, but have turned a new leaf are have invested their money in legitimate businesses. They usually don’t like to talk about their early days and prefer to stay under the radar.

10. The Serial Entrepreneur Rich

These individuals made the money from launching a series of successful businesses. They are busy most of the time, and usually chasing the next entrepreneurial opportunity.

11. Disguised Rich

These are people who live regular lives, drive regular cars, live in average houses but have millions of dollars in their bank accounts. It’s hard to tell how rich these individuals are by merely observing their lives.

12. Lucky Rich

People who go all-in on a whim and make a lot of money in the process. A Lot of them fail because of their double or nothing mentality but those who succeed, join the rich.

13. Rich Authors

People who made their money from writing a book. You don’t have to write a bestseller to be in this category. Just write enough books to get a dedicated following and you’re good to go.

14. Crypto Rich

There are people who keyed into cryptocurrencies at a very early stage and made millions. They are currently a large part of individuals funding technologies to advance the world of digital currencies.

15. Motivational speaker rich

People who made their money by selling the idea of being rich. They usually convince their followers with false claims or either being an industry guru or having made millions from a certain field.

And let’s not forget…