There's rich and then there's not.
The Denver-based invite-only investment and networking club R360 caters to people in the latter category.
The founder and managing partner of the club told Insider that there are three things people need to do to become members.
They must have a net worth of at least $100 million. Participants must be able to pay a three-year fee. They have to meet strict requirements set by the membership committee, who always have final say.
"We are very focused on how they align with our purpose and our values," he said.
The purpose of R360 is to create an "oasis" for these high-net-worth individuals and their families to flourish. The core values of the group are honor, entrepreneurial grip, curiosity, and generosity of spirit.
The goal of the club is for members to become knowledgeable in six different types of capital.
Both Cole andGarcia have been involved in working with wealthy families for decades and found common ground, inspiring the evolution of R360.
Cole said that when people achieve a wealth of $100 million or more, they face unique issues, concerns, and risks that are not found in someone with less wealth.
A lot of those people were poor or middle class. They had a fear of being poor. He said that they didn't want their families to experience what they experienced.
Many go on to achieve great wealth due to this mentality and when they do so, become immigrants to the land of great wealth. They want to make sure that they're responsible stewards and that they raise socially responsible children.
Cole says that the rich feel isolated over time. They might feel like they're being sold because of their lack of trust in people.
As a result, he was interested in working with such individuals to help direct their ability, skills, and wealth towards a significant legacy for themselves and those around them.
The members went to Necker Island.
The exclusive club was created because a group of like-minded individuals were brought together in similar circumstances, where they could be open and vulnerable.
Cole said that the individuals have a desire to learn from, to share with, and collaborate with people in similar circumstances to them. The gap that R360 filled was a model that focuses on more than just making money.
There isn't a private space, but members still receive perks. Access to experts at Ivy League universities and medical schools is included.
Group trips to exotic locations that are fun with a purpose are part of the package.
Cole said that about 30 members went on a retreat on Necker Island in July. They were treated to a group of influential speakers. They visited parts of the island that are home to rare species.
The main ambition of R360 is to create a league of 1,000 of the rarest individuals.