TIGER 21: A Network for High-Net-Worth Individuals to Preserve Wealth and Guide Family Legacies
Michael W. Sonnenfeldt, Founder and Chairman of TIGER 21, shares his unique perspective on wealth preservation and the challenges faced by high-net-worth individuals.
Genesis of TIGER 21: A Personal Journey
Initially motivated by his own experiences in real estate development, Sonnenfeldt established TIGER 21 in 1999. Recognizing the need for specialized knowledge in managing inherited and self-made wealth, he sought to create a platform where individuals could connect, share insights, and navigate the complexities of wealth preservation.
Membership Criteria and Benefits
TIGER 21's membership is highly selective, with a minimum net worth requirement of $20 million. Members are expected to embody the organization's "5 Cs": Character, Contribution, Capacity, Conditions, and Capital.
The organization provides a sanctuary for members to candidly discuss investment strategies, legacy planning, and the challenges of parenting in an affluent context. Members engage in monthly full-day meetings, which include presentations, group discussions, and portfolio reviews.
Addressing Family Concerns
Beyond financial matters, TIGER 21 also focuses on addressing the non-financial issues that accompany wealth. Members grapple with topics such as estate planning, family governance, and the potential impact of their children's upbringing on their financial well-being.
Best Practices for Wealth Management
According to Sonnenfeldt, the key to successful wealth management lies in a combination of sound decision-making and avoiding costly mistakes. TIGER 21's platform fosters an environment where members can learn from each other's experiences and share best practices for preserving and enhancing their wealth.