Thursday, September 20, 2012

Where Ultra High Net Worth Americans Are Spending Their Money


An intriguing little item from Wealth-X caught my attention.  In case you weren't aware of Wealth-X, they are "a global ultra high net worth" (UHNW) prospecting, intelligence and wealth due diligence firm.  The company provides its members with intelligence on the world's ultra high net worth individuals (net worth greater than $30 million) including their wealth, income, passions, philanthropic interests, politics, family and also provide biographical information.  The purpose behind this is to provide a means of connection between those with wealth and those that wish to "engage them".

I thought that this brief item on their website was worth a quick posting, particularly in light of recent Romney revelations.  Wealth-X research shows that donations by UHNW individuals to American political Super PACs varies with their political affiliation as follows:

Republican UHNW donors - donate an average of 4 percent of their wealth to philanthropic causes and less than 1 percent to political causes.

Democrat UHNW donors - donate an average of over 5 percent of their wealth to philanthropic causes and less than one half percent to political causes.

Here is a look at the top Republican Super PAC UHNW donors, their net worth and their political contributions as a percentage of their total net worth:


Here is a brief look at each donor:

Bobby Jack Perry - owner of Perry Homes in Houston, Texas.  Donated $4.45 million to the Swift Boat Veterans for Truth in the 2004 election cycle.  Donated $7 million to American Crossroads in 2010.

Rocco Ortenzio - co-founder of Select Medical Corporation, now a public corporation.  Founded Continental Medical Systems in 2005; sold to Horizon Health Care for $502 million in stock.

Harlan Rogers Crow - Dallas-based real estate developer and manager of Trammel Crow Company.

Foster Friess - founder of investment management firm Friess Associates.

Jon Huntsman Sr. - founder of Huntsman Corporation, a manufacturer and marketer of chemical products.

Here is a look at the top Democrat Super PAC UHNW donors, their net worth and their political contributions as a percentage of their total net worth:



Here is a brief look at each donor:

William Maher Jr. - stand-up comedian better known as Bill Maher.

Morgan Freeman - actor.

Barbara Steifel - Florida-based philanthropist, director of The Barbara A. Stiefel Foundation

Frederick Eychaner - Chicago-based Chief Executive Officer and founder of Newsweb Corporation

Stephen Silberstein - California-based founder of Innovative Interfaced, now a philanthropist.

Go on, admit it, it's kind of intriguing to see where America's ultra wealthy spend their extra cash, isn't it?  At the very least, we now know who puts their political money where their political mouth is.  It also makes us all very aware that our paltry two digit donations really don't matter all that much and that they will be long forgotten after November 6th, 2012, unlike the donations made by these UHNW donors.

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