New Money and How to Grab It
“Actually, a lot of the money is self-made and has been made in the last 10 to 20 years,” Pedraza said. “Approximately 80 percent of all the people worth $5 million or more are self-made.”
Pedraza points to someone who owns a group of McDonalds franchises or a string of MRI clinics as examples of a modern, entrepreneurial-type millionaire.
At Neilsen Claritas, a West-coast based market research firm which is working now with both the PRO Group and Nationwide Marketing Group to help retailers learn more about their consumer base, the well-off are divided into a number of different categories, based on not only assets but geographic location, life stage and lifestyle.