R360
- R360 is an invite-only club for individuals with a net worth of $100 million or more.
- The Denver-based club offers access to investment opportunities and exclusive getaways.
- Its founder and managing partner told Insider that members want to become "responsible stewards."
There's rich and then there's uber-rich.
R360, a Denver-based invite-only investment and networking club caters to people in the latter category.
There are three things people need to do to become members of the club, which launched this year, its founder Charlie Garcia and managing partner Michael Cole told Insider.
First, they must have attained a net worth of $100 million or more. Second, participants must be able to afford a three-year fee of $180,000. And third, they must meet the strict requirements set out by a membership committee, who always get the final say.
"We are very focused that they align with our purpose and most importantly, our values," Garcia said.
The purpose of R360 is to create an "oasis" for these high-net-worth individuals and their families to flourish, according to Garcia. The core values of the group include honor, entrepreneurial grip, curiosity, and generosity of spirit, he added.
Essentially, the goal of the club is for members is to become knowledgeable across six kinds of capital: financial, intellectual, spiritual, human, emotional, and social.
Both Garcia and Cole said they have been involved in working with wealthy families for decades and found common ground with them all, inspiring the evolution of R360.
When people achieve a wealth of $100 million or more, "the issues they face, the concerns they have, the risks they worry about and their opportunities are just frankly unique than someone of lesser wealth," Cole said.
A lot of those individuals grew up very poor or were very lower-middle class, according to Garcia. "They had an entrepreneurial gene and a fear of being poor. The one thing they didn't want is to have their families experience what they experienced," he said.
Many go on to achieve great wealth due to this mentality and when they do so, become "immigrants to the land of great wealth," Garcia said. "They want to make sure that they're responsible stewards and that they raise socially responsible children," he continued.
According to Cole, the uber-rich tend to feel very isolated over time, too. This is sometimes due to their lack of trust in people because they might feel like they're being "sold."
As a result, Garcia said he had a keen interest in working with such individuals to help direct their ability, skills, and wealth towards a significant legacy for themselves and those around them.
Todd VanSickle/AP
Bringing a group of like-minded individuals together in similar circumstances, where they can let down their guard and be open and vulnerable, was another reason to create the exclusive club, the pair said.
"These individuals have a great desire to learn from, to share with, and collaborate with people in similar circumstances to them," Cole said. Therefore, having a facilitated model that focuses on more than just making money was a gap that R360 filled.
While there isn't a headquartered private space, members still receive various perks. These include access to experts at Ivy League universities and medical schools such as Harvard, Columbia, and Massachusetts Institute of Technology.
Group trips to exotic locations that are "fun with a purpose" are part of the package too.
In July, Cole said about 30 members went on a five-day retreat on Richard Branson's private Necker Island. There, they were treated to a lineup of influential speakers. They also played tennis with Branson and visited parts of the island that are home to endangered species.
R360's key ambition is to curate a league of 1,000 of the rarest individuals to inspire and challenge future generations, Garcia said.
from Business Insider https://ift.tt/3ly03DM
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