The Ledger
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Sonnenfeldt: The ultra-wealthy should limit annual spending to 2% of assets
“If you're solely living on the investments in your portfolio, if you can live on two percent of your assets or less, then you're in a safety zone, and obviously some people have the good fortune to earn a lot more than two or three or four percent on their ass…”
Sonnenfeldt: Selling a growing business increases the hurdle rate for future wealth
“When you sell your business, In my opinion, more often than not, it's not number dependent, it's risk dependent. You want to take risk off the table. You don't want to have the risk, just as you said, of losing your business anymore, so you can take your chips…”
Sonnenfeldt: TIGER 21 members keep over 70% in risk-on assets
“And what's so remarkable is if you take those three numbers, the private equity, public equity and real estate, it adds up to 70 plus percent. Those are the risk on assets. So our members are relatively long-term bullish on investments. Even when they think we…”
Sonnenfeldt: Selling a business radically lowers downside risk but cuts growth upside
“It's better to think of it as a shift in risk because when you made the decision to sell for the example you just gave, What you've done is you've taken a lot of risk on the table, so the chance of losing that thirty million now goes down radically. It's much …”
Sonnenfeldt: Wealth preservers should carry as little debt as possible
“If you want to be here for the long term and preserve wealth, I would argue you want as little debt as possible.”
Parr: Tiger 21 does $30M–$40M revenue, sold to PE, and retains 90%
“By my calculation, I actually would bet they do 30 to forty million in revenue, and they recently sold to private equity, and so it's a relatively big business, and I actually read about read up on it, and someone said, like, there's 90% retention rate”
Sonnenfeldt: TIGER 21's 1,200 members collectively manage $140 billion
“We have a hundred and forty billion dollars under management. We don't manage it. Our members manage it by themselves. We're not a money manager, but collectively we have about 12, a little under 1200 members. So it's a little over a hundred million dollars pe…”
Sonnenfeldt: From $70K to $7M, everyone thinks 20% more brings happiness
“You know, the most interesting thing is there's endless studies That show that up to That whether you ask people who earn 70,700 thousand, or seven million dollars a year, how much more do you have to earn to be happy? And the number is something like 20%, no …”
Sonnenfeldt: YPO and Vistage members average 10% to 20% of TIGER 21 wealth
“The main difference between Vistage and YPO and Tiger-twenty-one is the average net worth of Vistage and YPO members is probably maybe a 10th of that or fifth of that of Tiger.”
Sonnenfeldt: Founders need five years of hard work to become competent investors
“Five years. Yeah, that's, and that's if you're really working at it.”
Sonnenfeldt: Managing wealth is often harder for founders than running businesses
“From an intellectual challenge point of view, many of our members find the challenge of managing the wealth that they've created is actually intellectually more challenging than the business, because the business might have come naturally to them.”
Sonnenfeldt: Very few people generate excess capital without inflating their lifestyle
“It's the rare person Who generates excess capital and doesn't change their lifestyle. So no matter how much they have, they keep spending more. Cause if you can keep that gap of not needing what you have, that gives you a cushion that's rare and really somethi…”
Sonnenfeldt: YPO is member-facilitated while Vistage and TIGER 21 use professional chairs
“The big difference between those two, which are great organizations, is YPO is self-facilitated by its members, whereas Vistage and also Tiger 21, our groups are led by professionals.”
Parr: Tiger 21 has 850+ members paying $30k/year, generating $24M+ in revenue
“Basically it's a peer group where you have to have at least ten million dollars of investable assets in order to join. It's very expensive. It's 30,000 dollars a year. I wouldn't call it a mastermind because mastermind has a certain connotation, but yeah, it k…”
Sonnenfeldt: TIGER 21 Generates $35M to $40M in Annual Revenue
“It's about 1200 people that are paying a little more than 30,000 dollars. So it's about 35 or forty million dollars.”
Sonnenfeldt: TIGER 21 members' cash allocation spiked to 20% in March 2020
“The biggest, it typically fluctuates between 11 and 13%, but in the Pandemic. March of 2020, it spiked to 20%, which statistically is off the charts. That's how concerned our members are. But generally, in the 12% range is, is what our members are looking at i…”
Sonnenfeldt: Reinvested every penny of TIGER 21 revenue for 20 years
“No, it's, it hasn't at all. Basically for 20 years, I put every penny back into Tiger of revenue because I wanted to hire some of the best people in the world and the best teams and get it right.”
Sonnenfeldt: TIGER 21 instantly expels any member violating confidentiality standards
“We have zero tolerance for anything less than high integrity and maintenance of confidence. If somebody, if a member or a chair ever violated that, they would be out in a second.”
Sonnenfeldt: TIGER 21 average member age has dropped to low fifties
“When you have you know, 1150 or 60 members the answer is the average age has fallen over the history of From the high fifties to the low fifties. But in order for it to do that, given that a lot of people stayed, most of our new members are in their thirties a…”
Dyrdek: Tiger 21 Requires Monthly 'Portfolio Defense' Asset Audits
“You, each month, one person has to show all of their assets and it's called portfolio defense, right? So each person has to like lay out, this is every single thing that I'm doing.”