Lost track of how many zeros are at the end of the numbers in your bank account?
Forgot that bills come in sizes smaller then one hundred?
Mastered the universe?
Then you may get offered admission into one of the world’s most exclusive (and expensive) clubs.
Membership is capped at 20, and only 11 members have made the cut so far.
Try £100,000 up front, followed by £1,000,000 per year just to retain your membership.
So what does that kind of cash buy you?
How about yachts (they’ve got two hundred-footers), helicopters (they’ve got a pair), jets (they’ve got four, including a Gulfstream G5), and more?
Well since you asked: Five star travel, a Bugatti Veyron, a collection of exotic autos, private islands, and access to just about any club or event that you can imagine (think anything Vegas, sporting events, award shows, parties and more).
Plus, there’s a team of researchers, operations managers, logistic managers, transport managers, global operations managers, account managers, asset managers, and consultants on hand at all times to meet your every need.
Then check out what you get when the paperwork finally clears:
The membership card and the box are made form aerospace grade titanium, the box is covered in Japanese urushi lacquer, and the Centre of Membership tag features metal crafted form a decommissioned space rocket.
Ready to join?
Not so fast. Members must first be nominated by a current member, then seconded, then interviewed before even being considered for a spot.
So what’s this all about then?
Called the 2-20 Club, it’s an asset and contact sharing partnership for the best of the best hedge fund managers around the world, often known simply as ‘Masters of the Universe’.
What does it take to become a master?
Cash, and lots of it.
The name 2-20 comes from the source of that cash, as 2 and 20 is the standard fee arrangement in the hedge fund industry. Managers make 2 percent of assets under their control, and 20 percent of profits after a predetermined benchmark has been met.
If that sounds like a lot of dough, then you’re right, because it is.
With top managers making profits in the billions, 20 percent adds up quickly, and you’ll soon find yourself on a Forbes list spending Franklins like he’s going out of style. (Combined assets of the group are an estimated quarter of a trillion dollars!)
But here’s the thing: You shouldn’t even know about the 2-20 Club.
That’s because until recently, the club was a secret society, carefully shielded from the curious eyes of the world around it.
Why then, are you hearing about it now?
Well, unfortunately for the club, one potential inductee had already wired his £1,000,000 fee when a party that he was hosting on one of the club’s yachts got a little out of hand, and the six figure damage that he caused was not looked kindly upon by current members. (Estimates of the damage are in excess of £650,000.) The club decided to revoke his membership, and he decided to reveal the club to the general public.
Rather then let him run rampant with the story, twisting it into his own version of the truth, 2-20 contacted DYH and decided to break the story first.
So here it is; the world’s first sneak peak into the lives of the super rich.
Ready to join? Then have that black American Express card waiting, because a chance like this doesn’t come around often. (Or, for most people, ever.)