Aron Moldovanyi, Chief of Staff explains his success and challenges working for the world's wealthiest people
Who would have thought that having significantly more money means having a dizzying array of choices to decide about how to spend it?
According to Capgemini and Merrill Lynch's World Wealth Report of 2005, In the United States alone there are already 30,000 who are ultra-rich and 50,000 more around the globe.
But having more fortune is not as easy as it looks. The wealthiest among us are lost in their money and the countless alternatives that come with it, like sailboats adrift on the vast sea.
Another matter that the ultra-wealthy face is their vulnerability to being taken advantage of. Both those with new and established wealth are unaware of how much things generally cost. This is where specialists or experts come in to help them navigate through their daily lives.
One of these experts is Aron Moldovanyi, a Hungarian Canadian luxury hotelier turned Chief of Staff, Global Director of Properties. He manages portfolios of the ultra-rich and famous and is currently the highest ranking Canadian in the private household sector for UHNW individuals.
In the ultra-luxury hotel industry, he is most known for opening one of the world's most expensive boutique hotels in 2013, a genuine twenty-first-century state-of-the-art palace in the Mediterranean. It wasn't long before he was asked by billionaires and celebrities from all over the world to handle their enormous estates, boats, aircraft, and private islands.
Moldovanyi understands how the life of a billionaire works, what they need, and how to manage their daily lives.
His experience in the luxury hotel sector was also an advantage for him to manage multi-billionaires' portfolios.
"Coming from the ultra-luxury hotel sector I became very successful in managing the ever-increasing properties, private islands and international workforce billionaires have," Moldovanyi says.
However, there came a point where there was a scarcity of personnel with the knowledge and expertise to handle the large empires that the ultra-rich established for themselves.
Moldovanyi created a system in which their portfolio is handled in the same way as a hotel chain is, with many divisions, a well-structured operation, and a well-trained crew aided by the most up-to-date technology.
"It is a very niche market, so there is a small pool of candidates that have the necessary skills and experience to thrive in this super challenging environment," says Moldovanyi.
His ability to handle difficulties quickly and creatively is one of the abilities that helped him flourish in his profession.
"Well, problem-solving and thinking outside of the box are imperative. No matter how meticulously planned the day is, there will be a glitch, a delay, or an unexpected phone call that will throw you completely off track. That is when you need to shine by being able to think fast on your feet." Moldovanyi says.
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