R360 is a private wealth investment network with a base line net worth of $100 million to get in
A new invite-only investment club for the super rich charges members $180,000 for a required three-year membership, but those not meeting its lofty integrity standards - along with a net worth of at least $100,000 - need not apply.
Charles Garcia, 60, founded the new uber-exclusive R360 this year and said the group's goal is to connect his wealthy members with investment and philanthropic opportunities.
However, Garcia claims to have turned away at least a couple of billionaires who didn't have the right motivation for a club built on 'honor, entrepreneurial grit and generosity of spirit.'
'One person seemed to want to leverage the group to benefit their own business activities, and the other didn't want to integrate his family,' said Garcia, who founded Sterling Financial Investment Group in the late 1990s and chaired his local chapters of wealth network Tiger 21 in Florida for many years.
'I took some grief for that.'
Charles Garcia, R360's founder, wants the investment club to eventually have 1,000 members - 500 in the United States and 500 abroad, but claims he wasn't afraid of turning away two billionaires who applied
Necker Island is a private oasis owned by the mega-rich founder of Virgin, Richard Branson
Richard Branson (pictured above) has met with 360 members at his private island
A three-year membership to the private investment network costs $180,000. The goal for members is to achieve wealth in six different types of capital: financial, intellectual, spiritual, human, emotional and social.
'When people get wealth of $100 million or more, their issues are far greater than for people who are wealthy but not at that level,' said Michael Cole, 61, one of the managing partners of R360. 'They've achieved success, and are looking more at how can I make an impact on things that matter to me — for myself, for my family, for society.'
Cole is a former chief executive officer of Cresset Asset Management
'Our world needs men and women who combine extraordinary success,