According to Capgemini, High-Net-Worth Individuals (HNWIs) are defined as those having investable assets of $1 million (USD) or more in highly liquid assets, excluding primary residence, collectibles, consumables, and consumer durables. The highly liquid assets are cash and cash equivalents. The cash equivalents are Banker’s Acceptance, Commercial Papers, Treasury Bills and other investment that mature within three months.
With a liquid net worth of between $5 million to $30 million, such people are regarded as Very High Net Worth Individuals (VHNWIs).
The Ultra High Net Worth Individuals has liquid assets of $30 million and above. There are over 300,000 UHNWIs in the world
A billionaire is a person with a net wealth of a billion dollars. Billionaires make up a small and very elite club of powerful men and women in the world, who control enormous sums of money and its accompanying power and influence. The numbers of billionaires globally are over 2,000.
With the volatility of the Nigeria Naira compared with Dollar, to be regarded as a High Net Worth Individuals (HNWIs) in Nigeria by the year end of 2020, your investable or liquid net worth in Naira must be at least Five Hundred Million Naira (N500 million); at the rate of N500 to $1. The Ultra High Net Worth Individuals (UHNWIs) would have a liquid net worth of over Fifteen Billion Naira (N15 billion) and for someone to be referred to as a Dollar Billionaire in Nigeria, his or her worth must be at least Five Hundred Billion Naira (N500 Billion).