Wealth-X Bolsters U.S. Dataset on the Wealthy
Over $60 billion of New Compensation Data Integrated into Global Database.
NEW YORK, April 29, 2020 /PRNewswire-PRWeb/ -- Wealth-X, the leader in applied wealth intelligence, has announced another significant expansion of the company's proprietary global database today, creating and/or updating over 12,000 records of wealthy individuals across the United States.
In an effort led by Wealth-X's Data Strategy team, these new data assets uncover individuals who are either very high net worth (VHNW, $5 - $30 million) or ultra high net worth (UHNW, $30 million+) by mining previously untapped data sources, including:
California Public Employee Compensation Records
- 2,580 new VHNW records created
- 1,763 pre-existing Wealth-X records updated
While the vast majority of public employees in California do not meet the wealth threshold to be considered VHNW ($5 - $30 million) or more, certain roles like state university presidents, athletic coaches, professors in fields such as medicine and finance, senior leadership of large municipal services and others qualify as VHNW based on compensation received from the state of California during the period 2013-2018. In total, $9 billion of compensation data was incorporated into the Wealth-X database as well as new data points in the Career History, Business Contact Address and Wealth Analysis sections of each record.
Retired Major League Baseball (MLB) Players
- 315 new UHNW records created
- 1,116 new VHNW records created
- 650 pre-existing Wealth-X records updated
Wealth-X integrated the compensation histories of 2,081 retired MLB baseball players which resulted in a total of $43.6 billion. Data points were added to several sections of each new profile including Interests Passions & Hobbies, Business Contact Information, Education, Service Providers, and Wealth Analysis. After incorporating the new baseball compensation data, over 100 pre-existing records were re-classified from VHNW to UHNW, to provide an even more accurate baseline net worth estimate.
Pharmaceutical/Medical Device Payments
- 2,325 new VHNW records created
- 3,700 pre-existing records updated
Through public financial disclosure data on payments by pharmaceutical and medical device companies to US doctors, Wealth-X created 2,325 new VHNW records on doctors who earned more than $2 million from pharmaceutical/medical device payments/royalties between 2013 and 2018. In addition, the net worth estimates of pre-existing Wealth-X profiles of doctors who matched to this dataset were recalculated, with new data points added to several sections of the record including Residences, Business Contact Address, and Career History. Records that had disclosed shareholdings in public and private pharmaceutical/medical device companies also had that information added to their Wealth Analysis.
This data expansion is the most recent in a series of significant additions to Wealth-X's global proprietary database. Since August 2019 alone, Wealth-X has added over 400,000 new records of wealthy individuals from around the world including mainland China, Latin America, Western Europe and Russia, to name a few.
The Wealth-X Data Strategy team is currently working on similar projects for retired NBA and NFL players, as well as a considerable expansion to our Canadian data assets.
The Wealth-X Database is the world's largest contextual dataset of records on wealthy individuals available today, focusing on the VHNW and UHNW wealth tiers. This unique data empowers organizations in the financial services, luxury, not-for-profit and higher education sectors to better understand, engage and do business with wealthy clients and donors.
For more information on the Wealth-X Database and how to gain access, please visit: https://www.wealthx.com/solutions/database-access/
About Wealth-X
The global leader in wealth information and insight, Wealth-X partners with prestige brands across the financial services, luxury, nonprofit and higher-education industries to fuel strategic decision-making in sales, marketing and compliance. Wealth-X has developed the world's largest collection of records on wealthy individuals and produces unparalleled data analysis to help organizations uncover, understand, and engage their target audience, as well as mitigate risk. Founded in 2010, with staff across North America, Europe and Asia, Wealth-X provides unique data, analysis, and counsel to a growing roster of over 500 clients worldwide.
SOURCE Wealth-X
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