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Felix Dennis’s message to bankers: You’re not really rich until you have £16m of liquid assets

Felix Dennis, before he made £500m

Felix Dennis, the publishing mogul and self-described, 'overweight, cigarette-smoking, malt-whisky swilling idiot with too much money,' has passed away.  Now seems an appropriate moment, therefore, to re-post the article below, along with your comments. You can read the full text of Felix Dennis's book, 'How to get rich', here. 

Entrepreneur Felix Dennis has some novel ideas about what constitutes being rich.

In his book, Dennis (net worth £500m) categorises richness as follows:

Comfortably poor: £50k-£199k in liquid assets; £1m-£2m in total assets

Comfortably off: £200k-£499k in liquid assets; £3m-£4m in total assets

Comfortably wealthy: £500k-£999k in liquid assets; £5m-£15m in total assets

Lesser rich: £1m-£5m in liquid assets; £16m-£39m in total assets

Comfortably rich: £6m-£15m in liquid assets; £40m-£74m in total assets

Rich: £16m-£35m in liquid assets; £75m-£99m in total assets

Seriously rich: £36m-£49m in liquid assets; £100m-£199m in total assets

Truly rich: £50m-£100m in liquid assets; £200m-£399m in total assets

Filthy or super rich: Over £100m in liquid assets; over £1bn in total assets

Dennis also offers the following pearls of wisdom:

· If you stay too long working for others, you will never be rich

· If you have artistic inclinations (and fear the search for wealth will degrade them) you will never be rich.

· If you are not prepared to work longer hours than anyone you know, you will never be rich.

· Inner compulsion is mandatory in the getting of money

· You must choose between riches and seeking contentment

· Your body is a machine - a machine that requires sleep, good quality fuel, and the odd day off. Making time to sleep well, eat well, and take an occasional walk in the park is not slacking, not a betrayal of the cause. It's just good sense. The getting of money is a marathon, not a sprint. Keeping mentally and physically fit is essential.

Related articles:

How to ace your banking interview in the style of a narcissist

When a million isn’t enough: why top bankers are struggling to get by

Eight methods for reinventing your financial services career 

Photo by Karsten Winegeart on Unsplash

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  • S
    S
    30 June 2022

    Anyone else think it odd that the classifications have people holding very little in liquid assets? The main basis of their wealth tends to be in difficult to value assets meaning that many of the people in these classifications are probably worth less than they imagine. But anyway what good is net worth because you have to sell it to get and the only money here really set out to be sold is the liquid assets the rest exists solely to increase income surely. If this is true this means that a person with a high percentage of liquid assets and a high income would functionally be in the same situation in terms of how they function and the wealth they can have. I think these figures prove all you really need is high liquid assets and a high income: ideally passive.

  • jk
    jk
    18 February 2011

    Tisk, Tisk, Now Dennis you forgot about the part that for every one million in liquid assets you have equates to one million people in Sub-Saharan Africa starving for a day

  • Es
    Esteban
    24 January 2011

    Hopefully one day soon, the capitalist pigs will sit uncomfortably in prison.

  • Ma
    Maximilian
    24 January 2011

    The author of this article is a delusional prat. An example of what is truly wrong with this world today.

    People of his ilk will be the first to go in the revolution, preferably by firing squad.

  • Ke
    KennyG
    5 June 2010

    Yes, but are they happy?

    True wealth is being able to fully experience life. It's an abundance mindset, not a bank balance. There are alot of miserable billionaires on this planet; money just makes the misery a little more bearable!

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