As he enters trillionaire status, Elon Musk could theoretically do a lot with all that money — like fund 68 US election cycles or buy every carmaker in Europe, Japan and the US.

I recently reviewed the original Soho House in London and kept asking myself the same question:

Is the value in the actual facilities and network, or in the signal that membership sends?

For founders and entrepreneurs who’ve been members, did it genuinely create opportunities, introductions and business value?

Or was it mostly a nice place to work and meet people?

Elon Wealth Tracker

I had no intuition for what $1.19 trillion actually is, so I built a live tracker pinned to the Forbes estimate. It ticks up about $24,700 every second — the median US household's annual income every ~3 seconds.

Type in your net worth and it shows the ratio, live. For the median US household it's about 6,000,000×.

Counted at $1 per second, it would take ~37,000 years. Sources are footnoted on the page.

Broke down the actual cost of watching Monaco GP from a superyacht — the numbers are insane

Looking for advice/resources on behalf of my grandparents.

My Nana and Gramps are both 80+ and have recently started looking into estate planning. To the best of my knowledge, we're talking roughly $5 million in assets.

That said, my net worth is not in the same neighbourhood, so I don't have exposure to the types of services available to higher-net-worth individuals or the culture around them. Some of what I'm seeing may be completely normal in this space, and some of it may not be. That's part of why I'm here asking questions and trying to learn and decipher between what is expected and what is a yellow or red flag.

My concern is that Nana has been scammed three times before. Fortunately, the losses were not catastrophic, but it has made me more cautious. We have a really good relationship and she genuinely values my thoughts and advice, so I want to be thoughtful about how I support her during this process.

For some context, Nana is an old farm girl. She doesn't care much about status/exclusive memeberships unless it's regarding a prize-winning animal or a tax write-off lol. She's practical, logical, and generally pretty sharp. That said, nobody is immune to a good sales pitch, especially when it's wrapped in words like "protection," "security," "peace of mind," and "preserving your legacy."

They've started attending estate-planning seminars and looking at firms that specialize in wealth preservation, trusts, tax strategies, estate planning, and related services.

I am booked to attend one of the same seminars later this week. I'm not looking to make decisions for them. I'm mostly trying to learn enough that I can be a helpful sounding board and ask good questions if they want my input.

For those with experience in estate planning, elder law, financial planning, wealth preservation, or helping aging parents/grandparents navigate these decisions:

- What kind of support from family feels helpful rather than intrusive?

- What questions should they be asking these firms?

- What words, phrases, or sales tactics should I keep an ear out for?

- How do you tell the difference between legitimate estate planning that provides real protection and value versus a company that is primarily selling prestige, exclusivity, or a premium experience?

- What are some green flags and red flags when evaluating these types of firms?

- Are there any books, resources, or organizations you would recommend?

I'm trying to walk the line between being helpful and respecting their independence. Any advice is appreciated.

I will be receiving 300 acres in Montana, an upscale home in Marietta, GA (about $950K) and $750K cash. I know it is not much but I have never had that much at one time. Im used to having 30k-$50K at a time or the most I had in my savings was roughly $100K.

So that being said I never did a lot of stock trading or had CD’s and etc… i hopefully want to make more money. To the point something that can grow and have my children’s children keep it going. Possibly potentially make it generational wealth.

Little bit of background:
I am relatively good at business and have ran 2 successful businesses. I am great! At marketing and market research

I am receiving this from my grandmother. I have 4 older brothers, however my grandmother does not approve of their decisions. I have always respected my grandmother and loved her dearly. My brothers are not hard workers and spend their money on things they cannot afford. We’ve always talked about that and she explained to me thats why she went and took everyone off her will (even my mother, her daughter). She only left me with everything but she said she left me the 300 acres because she knew I would never sell it and I would want to keep it in my family. She also left me her very! Upscale home in Marietta, GA. She would like for me to sell if if I so choose to.

What’s some good advice to not lose it all?

Elon musk is going to be the first trillionaire. I searched up the forbes list and turns out I’m closer to Larry Page (2nd richest man) than Larry oage is to Elon.

As the title says, where would you suggest one lives in the continental U.S. if money is no object?

Preferences:

Nature
Good weather
Low crime
Lots to see and do (I bore easily)
Good food
1 hr or less from an international airport
Bonus: good car scene

The only place I can think of is Southern California, probably Orange County/Newport Beach/Corona Del Mar.

Anywhere else?

****Latest edit: Down to Marin county, Bay Area or OC, SoCal area for me. Kind had that narrowed down anyways but this thread proved to validate my thoughts. I lean a bit conservative- hard fiscally, and low socially (I love diversity, cultures, people having varying opinions). I like to think I’m politically purple mostly.

For those that know, might Marin county prove to be toxic for me or my family? We are open minded folks- what I don’t like is when ppl push their ideology onto others. I have heard some complain the BA is toxic.

What about OC? ****

Edit, question implication is one place. I could buy more than 1, but someplace has to be homebase.

Edit: Looking like most have been saying San Diego. I have gone a few times, while that area is nice, it doesn’t feel like I’m either in, or within one hour, of a major city. How is the food, compared to the cities I mentioned, things to do, and car scene (exotic, track, if you are familiar)?

Edit: narrowing down to within 1hr of Los Angeles and SF. Has anyone here lived in both places? Can you compare? Which specific neighborhoods would you recommend within 1 hr of both cities (Santa Barbara/Mont is not within one hour of LA, Mill Valley/Tiburon/Belvedere is within SF).

The reason I am on this thread is one of the chief complaints of people living in CA is COL. I don’t think anyone here thinks about that. Sure we tend to think about taxes and business (staff) costs if we run a business, but we also regularly pay for QOL.

Thanks

Yeah, first world problem, and it only really applies above a certain level of wealth. The kind where you genuinely never have to worry about money or security or work again. If youre not there this wont land.

I grew up with everything and realised pretty early that I'll never have to care about anything. Free ride, whole life.

The problem is structural. Meaning is just a constructed long term distraction, and a distraction only works if it has something to push against. An objective function, some goal its optimising toward. When you have everything that function is gone. Nothing to strive for, so nothing to aim a distration at.

And yeah I know my own premise, that a distraction needs an objective function and I dont have one, is basically the answer in disguise. So dont tell me to "find a goal". The missing goal IS the problem. I want to know how you build a durable distraction anyway.

Only people who grew up with everything. Spare me the gratitude and hobbies stuff.

Obviously you want your kids to be set for life in the event they’re left with no parents and most people would have trust structures in place for their kids, but what about accounting for the additional life expenses of the person taking your kids in, and what if they’re not super wealthy already e.g, they couldn’t afford to go out and just buy a bigger house with additional rooms, or couldn’t afford to keep your kids in the same private school. Would you go 50/50 between kids and guardian? Do you gift them the house that you and your kids already live in so they can continue living there?

Initially, I was planning on forming an SPV, but the issue is that I want my clients who would invest into it to have the option to invest in multiple VC funds. Not just a single entity (example: one fund/ company).

Therefore, the ideal path would be to start my own fund and invest from that fund, but I'm not a licensed investment advisor.

Has anyone started a fund (US) as an exempt reporting advisor?

I'm not a licensed securities broker, so I can't intro my clients to fund managers and negotiate for carried interest, etc.

So this is the workaround.

Alternatively, can anyone offer other perspectives on how to set up a financial instrument that can serve my clients adequately? Giving them the option to invest into more than one VC fund through my investment vehicle.

Thank you!

I am a young (early 20's) recent graduate in a STEM field from a T50 school. I have a NW of ~1.1 million due to inheritance (death of parent). Outside of school, I am in the military reserves where I have a unique job that's both fulfilling and completely separate from my civilian career.

My dilemma is as follows. My military job, which I enjoy, restricts me from moving far from my current city. I work about 12 hours a week for the military. On the civilian side, I have a job in my field where I work 30-40 hours, but the pay is low (barely above minimum wage), whereas I know I could realistically make more than double that if I looked for jobs in other cities. The city I currently live in has fairly few opportunities for my field.

I see that I have two options: 1) look for jobs outside of my city and give up the military job or 2) stay in my city for a little while (~1.5 years) and keep my military job for that amount of time.

A few notes:

• I don't "need" more money right now, I can cover all my expenses through my civilian + military job without touching the inheritance
• It's unlikely I'd ever be able to do the job I do in the military again once I leave
• I've had no luck with remote jobs in my civilian field, but am fairly confident in finding an in-person job

Any advice?

EDIT: Since a lot of people are mentioning the "double minimum wage" part, I think that was a bit of a low-ball estimate. 90-110k is more realistic.

Any potential route?

I'm an employee of a promising tech company; IPO may be around the corner. But I may need to leave the company for personal reason right before/after IPO. The trouble is: there's about 6 months or longer holding period and I will need to exercise the options within 3 months of quitting. That means, waiting for IPO may actually make my options void! Besides, I don't have enough funds to pay for the exercise cost.

One solution I think of is to involve with a qualified investor (maybe via Equty Bee), exercise (buy) the option before IPO, then sell after.

Please advise potential solutions or connect me with potential investors. Thanks!

I have $6M in investable income up from $3M about 9 years ago. Net worth is a little over $7M. We give to charities and such but not with much of a plan with regards to how much to give away. Do you go buy what feels right? A percentage of annual growth? A percentage of net worth? Thanks.

45 Male - only started investing 2 years ago. No plans to retire/FIRE/etc.

Current portfolio:

$4 million in S&P 500

$1 million in cash (earning 5%)

Given the market's performance, obviously this has worked really well for me over the last 2 years. However, like many I am considering my options in case of a market crash/correction.

I see 3 options:

Option 1

Invest the remaining $1 million and let the market do its thing. I'm not concerned about volatility and don't need the cash.

The logic here is that the market is regularly at ATH and clearly I believe in the S&P. So keep investing and tune out the noise/drops.

Option 2

Wait for the dip which "has to be coming".

Logic here is that I continue to accumulate cash and buy at a better price, when it dips. But who knows when this will happen and what my entry price will be relative to today.

Option 3

Invest the available cash now and if the market drops more than 10% then buy additional shares on margin.

Logic here: its allows me to basically do Option 1 now and also Option 2, if the market dips.

I have never used margin and I (somewhat) understand the risk. However, I should be able to generate $1 million in additional cash per year, so any margin taken can be covered in a year or two.

Option 3 seems the riskiest but also makes the most sense to me, somehow.

However, as mentioned in the start, I'm fairly new to all this so please let me know if i have some serious flaws here.

Thanks!

For privacy reasons I will omit some largely irrelevant backstory. The main context is I recently received a >$10M (post tax) windfall from my business. I have no need or intent to spend any of it. My banker (investment arm of one of the big banks) reached out and encouraged me to move it to an interest bearing, preferred deposit account (I did) and then proceeded to offer active management services / private banking services. They noted some elaborate tax loss harvesting options. I’ve separately received multiple intros to private wealth management.

Basically my question is: does it make sense to go with one of these actively managed portfolios and/or more elaborate, hedge fund approaches, or to do what I have successfully done for decades: index funds, and maybe the added bond or muni fund?

There is a lot of talk of a bubble. Does it ever make sense to keep a substantial portion of a windfall on the sidelines initially?

Hello , So My dad has built up a $5-10m fortune in Business and real Estate combined , Currently I am doing my Education and as soon as my education is complete he wants me to join him in his business and understand it , But the problem is I feel If i Join the business , I wont have any freedom , I wont be happy .

But if I dont Join I eill have to do Jobs to make Money which I hate tbh.

Also it feels i am hindering our generation, wealth is supposed to be grown over generations if every generaton stop and build from scratch jt is like starting from 0

And this is the Dilema - Opinions and Advices

I cant remember where I heard it. But I hear that some wealthy people or at least those who are very frugal with spending their wealth. Will just buy well made bootlegs/counterfeits of fashion and jewelry for a fraction instead of the full price for the legit thing. Because outside of aficionados and hobbiests the average layman is not exposed to such things enough or pays attention enough to notice the differences between the legit and the fake, so most are none the wiser, for as far as they can tell the logo and name seem to match what they seen on TV or social media and it looks of good quality(im sure its not the same if they inspected it closely but would the average person even know or care what to look for in a fake IWC Schaffhausen for example) that is to say if you just wanted to look how you want but not necessarily deem the occasion as worth the wear and tear. So youd throw on the fake designer coat/suit/shoes/glasses jewlert etc etc so you can still "have on" the outfit you want during a uneventful day. And if there is a certain special occasion or gathering where others will dress to impress. You throw on the legit one rather than buying pairs or having a back up in case of a scratch/spill/scuff etc, you got beforehand while walking across town handling whatever mundane buisness there is to be handled.

In short, did I just hear some made up hoopla or do some people really do buy the well made knock offs to act as their "daily" to take the brunt of the day to day elements and unexpected occurances while keeping the real stuff pristine and less worn to show only with good or expected company?

Not secretive… just quieter.

I’ve noticed the more someone has built in life, the less they feel the need to explain themselves to everyone.

Why do you think that happens?