After you spend enough time around rich people you figure out the true nature of the networking, the alumni events, charity dinners, and advisory boards that seem incredibly superfluous to a person who has already escaped the treadmill of modern careerism and transitioned into a rentier lifestyle.
“If it were me I would just be on the beach all day. Why on earth would you opt-in to organizations and events just to later stress out about them? People and politics will drive you insane!" You correctly think to yourself after observing the day-to-day of a wealthy family. Why? Because status is the true currency, and its units are denominated in people.
People that would do anything to keep their cushy, air-conditioned six-figure email service job. People that would be happy to provide you that [service] for a modest fee. People that you can call on, after paying that modest fee, to do your bidding in the name of “good business” and “building a relationship”.
The quantity of people that will do favors for you, and the magnitude of those favors, dictate wealth. That is the currency. Indentured servants, in everything but name.
You retain a well-connected financial advisor (“family office”) so that you can secure access to any event in that particular network
That same advisor will make sure your children end up with a prestigious internship at a decent bank, where your child will later extend the tentacles of the family network through sales (or attend rehab for cocaine and later do this)
That internship will of course have to be buttressed and justified by an ivy league education, so you hire a college advisor to get you the meetings, so that you can donate regularly to the best schools (without the gauche nature of simply writing a check for admittance, how rude)
These donor dinners and events must be regularly attended by you and your spouse, so hire a tailor and personal shopper to keep up appearances
While we’re keeping up appearances, make sure your car dealer, your landscapers and contractors, as well as your personal trainers and nutritionist and personal chef are all well-tipped during the holidays
Your non-profit work is your passion now, so make sure your foundation is staffed with reputable people that “share your vision” (and would do anything to keep their jobs)
All of these service providers understand the nature of their respective businesses and how they must retain relationships. Which means the truly wealthy man can call upon anyone in his personal food-chain for a favor at any given point. As the apex predator, not only can the truly wealthy man ask for these favors, they’re granted instantly, with a “happy to help” thrown in! No kingly pretense necessary.
Need a tee time? A divorce attorney? A new cardiologist? Tickets to the playoff game? Niece got a DUI? Country club membership? The truly wealthy man solves these problems the same way- placing a phone call to someone who owes a favor. Maybe Vito Corleone understood this better than most.
What’s interesting about this phenomenon is that it’s far easier to convert true wealth to monetary wealth than vice-versa. Many billionaires have blown through substantial resources trying to obtain political power in vain, while ex-politicians make acquiring one hundred million dollars look quite simple. Contrast this with the overnight billionaire who spends the first half of his life acquiring the money, and the second half converting it to true wealth.
Fascinating
Wait I wanted more!!! So interesting