It was a pleasure to contribute to this Financial Times article, which evidently sparked heated debate among readers, attracting nearly 300 comments.

Whether or not someone qualifies as an Ultra High Net Worth Individual is indeed a debatable subject, as each bank likely has its own definition. However, one thing is certain - in my opinion drawn from many years in the wealth management industry - the bar for what it means to be ultra-wealthy has risen. This feels especially true in Dubai, where established wealth keeps growing, and new money continues to flow in. It’s been suggested that $100 million is the new threshold for anyone wanting to keep their head high at private equity gatherings.

This shift is driven by several factors. Inflation is one. Another key factor is the explosion of new wealth in technology and entrepreneurship. Over the past two decades, we’ve seen the rise of tech billionaires, cryptocurrency pioneers, and venture capitalists amassing fortunes at an unprecedented pace.

Globalisation has also significantly impacted the UHNWI definition. The ultra-wealthy today are more mobile than ever, with this geographic fluidity requiring a much larger pool of assets to maintain multiple residences and manage wealth efficiently across jurisdictions.

Besides, being part of the UHNWI set today means wielding influence beyond financial clout. These individuals often play key roles in philanthropy, global policy discussions and industry-shaping initiatives, which demand substantial networks and additional resources.

This is truly an intriguing topic worth exploring further. What are your thoughts? Share them in the comments section.