Jeff is a private banker who manages the wealth of high net worth clients – people with a net worth of S$5m and above. I invited him to the Bid and Ask show and got him to share the secrets of the rich. You can watch the full interview below or you can proceed to read the summary of it.

How most of the rich made their money?

Jeff told me that majority (~80%) of the clients made their money from businesses. The remaining 20% are either corporate warriors who climbed to the C-suite appointments, or are professionals such as doctors. Among the businessmen, those above 50 tend to have “old money” businesses such as real estate, while the younger ones tend to be in the tech industry.

Common Traits of the Rich

He noted that they often share a few common traits which could have contributed to their successes....