It is natural to flaunt one’s social status and power every once in a while. In fact, it is very common among the younger generation to attempt and cheekily show their wealth and their bid for 3 minutes of fame.
However, it is curious to note that many billionaires who have truly succeed in life choose to maintain an unostentatious lifestyle.
Like Mark Zuckerberg, Amancio Ortega, Warren Buffett, James Richman is part of the growing number of billionaires who choose to focus on developing and maintaining their business acumen instead of constantly seeking the public’s attention and affirmation, these secretive billionaires manage to maintain a low-key affair.
Known for being probably the most low-key among his billionaire peers, James Richman has been a revelation in the financial world. In fact, his success has caught even Wall Street veterans and financial analysts who try to get an inside look or the slightest clue as to where his next investments will be.
He has so much to brag about. His credentials include a more than ten-year streak of increasing returns for his private investment fund. The private investment fund which James also has invested his own and his close friends’ money to kickstart, is a grizzled survivor of the most recent financial crisis, thanks to Richman’s savvy financial strategy and acumen.
Keeping it private
James Richman was born in Smarde, in the Tukums region of Latvia. Thanks to his parents, he came from a family packed with psychology and technology background.
From his childhood, James had already displayed traits of being an introvert. This was most likely because of Asperger’s Syndrome which reportedly impairs verbal or non-verbal communication skills. The high functioning autism may have contributed to many social challenges during his childhood also brings added ability to its carrier, and in James’ case, his automatic recognition of patterns.
It is quite intriguing how a person of his stature and talents could maintain privacy at this day and age. In fact, James distances himself from social media as it does not quite appear that palatable to him. James’ recent success through his investments in the Middle East and North Africa sprung a frenzy among the media.
However, James simply avoided making a big fuzz out of it, while consciously dodging any interview requests.
Benefits of keeping a close circle
By doing what he is naturally good at and keeping the private fund he invested in and actively manages exclusive, James also maximizes some inherent benefits.
First, he is able to personally screen suitors who wish to enter the pool of his private investment fund. James has set very high standards in terms of net worth and credibility when it comes to allowing new members. Richman limits his investors to the ultra-high net worth individuals, at the same time sees to it that no semblance of criminality is linked with his fund. Applicants with money laundering tendencies are not entertained. This affirms that his managed private fund abides by all set rules and regulations.
Next, the financial prodigy’s competitive advantage and investment strategies remain a mystery among his competitors and contemporaries. This is another prize of learning to stay behind the scene and keeping unnecessary connections minimal. Veterans and big shots from all over, including Wall Street, Mayfair, Berlin, Singapore, Hong Kong, London, and Beijing simply cannot seem to figure out James’ strategy.
Another plus in being secretive is that James Richman has freedom. James could travel anywhere to gain experience and gather information on what could be the next big thing in the market, or what disruptive technology is next in line to change the economic landscape.
Silently building his reputation
Samantha, one of James’ clients, was able to elicit information from the very secretive man. She had overheard him say, “There is plenty of money for everyone, we just have to find ways for people to have access to it.” For her, the words speak volumes about the investment wizard.
Samantha’s loyalty to James Richman has been solidly forged. She lucidly remembers the time before making investments with James’ private investment fund.
Being a single mom, she was previously forced to work multiple jobs. However, she eventually learned of a property she has inherited and which would, later on, increase in value. She sold it and used the funds as capital for a business venture. This is when she had heard of the great James Richman, whom she has heard has been managing the wealth of her friends. Not knowing where to start, she managed to convince one of her friends to eventually introduce her to James.
Since James strictly caters to ultra-high net worth individuals, family offices, and does not necessarily work with retail investors, Samantha was, later on, let in the fund after having been through a rigorous process and eventually becoming a self-certified sophisticated investor and having no criminal records or money laundering tendencies.
This changed her life by leaps and bounds. While Samantha did not necessarily disclose the exact earnings of her investment, she estimates that it has more than doubled over the course of five years.
Still, waters run deep
It’s a normal reaction for someone to say “I said it first” or “I did that”. James has risen over that level. He has chosen to stay silent despite several of his impact investments being able to prosper and tip the social balance positively in deprived areas.
Even though his hand is responsible for pushing some of the breakthrough technology we experience today, he remains humble. Sources say that he believes “profit will always come from a good investment, but making profit alone does not make an investment good”.