WhyteGold, the online private members club whose members include royalty, members of the billionaire rich list and parliamentaries has this week announced that they have built the most advanced by-invitation-only system on the internet.

A 12 step sign up process ensures the legitimacy of each application and restrictions are further imposed by manual checks on each member throughout their membership with WhyteGold.

Joining is free, however you are invited to contribute to the charitable events held throughout the year.

Upset that the Apple iPhone is no longer exclusive enough? Then, App Store has the perfect downloadable application for you, called I Am Rich.

The program displays a red gem, has no function but to display your wealth to others through ownership, and costs $1000.

The description in iTunes reads “The red icon on your iPhone or iPod Touch always reminds you (and others when you show it to them) that you were able to afford this. It’s a work of art with no hidden function at all…”

As kottke said, “For some, the iPhone is already an obvious display of wealth and I Am Rich is commenting on that. Plus, buying more than you need as an indication of wealth is practically an American core value for a growing segment of the population.”

Unfortunately you wont be able to download it anymore. It has since been removed from the Apple Store for no reason… Though, the “I am Rich” application is one of those reasons why you have to make sure your iTunes asks for you permission to buy apps before purchasing !

aSmallWorld is an online social network service similar to Facebook. Also called “Snobster” by critics, it is an exclusive invitation-only network with roughly 250,000 members.

Founded in 2004 by by Swedish banker and globetrotter Erik Wachtmeister, the network is mainly about lifestyle, society, celebrities: Naomi Campbell, Ivanka Trump, Quentin Tarantino, Paris Hilton, Tiger Woods, Prince Emanuele Filiberto Di Savoia and James Blunt are among the members.

SmallWorld shares many features with other social network services, such as profiles, an event calendar, private messaging and allows users to list multiple cities as their location of residence. Members can also buy, and sell items (Bugatti Veyron, Caviar, etc…) using aSmallWorld’s private forums or even rent property or find a flatmate.

People must be invited to join. Only certain members of the club have the privilege to invite other members and five members must approve your existence before you’re “in.” (since it’s difficult to verify wealth levels)

Admins closely monitor the network : Rules state that members aren’t allowed to “annoy, harass or unreasonably disturb members, or try to connect to members with whom you have no previous contact.” aSmallWorld kick out members who engage in improper behavior (like networking rapidly with the celebrities or selling products too aggressively).

Members are not allowed to discuss the inner goings-on of aSmallWorld on any outside website”. Problematic users are immediately exiled to a separate network called aBigWorld;

” However, it’s very difficult to build a network based solely on wealth,” says Stephen Martiros, a managing director of a coalition of rich families based in Boston. “You might start with a few wealthy people, but as you grow it eventually reverts to the mean. And once that happens, the wealthy leave. If you have one guy worth $100 million sitting at a table with a guy worth $1 million, only one of them is going to be excited to be there.”

Besides, membership invitations or passwords to the site can be easily purchased on eBay. Some angry users have therefore posted hilarious comments that THE WALL STREET JOURNAL brought to us :

“Who invites these people? We should be selective who to invite. What about quality control?”

“There is no reason why when we come online we should have to socialize with truck drivers”

“One of my friends told me that the site has lowered so much its level, that she has invited her maids.”

What does it mean to be rich? We have only the vaguest idea, generally, which is why it’s so hard to pinpoint in ourselves.

Every year a lot of magazines release the lists of the richest people in world. Wondering whether you would sit on one of those lists?

Here’s your chance to find out. Go to globalrichlist.com, enter in your salary, in the applicable currency, click ” show me the money” and it will tell you where you rank.

When the middle-class millionaire wants to wow her, he buys a diamond. Only the millionaire buys the rarest stone, one no one else will have.

On his travels, the millionaire goes where no one can find him–to an exclusive island resort featuring $185,000 fractional memberships in luxury vacation homes.

And at home, he relaxes not before the plasma TV but in his $150,000 yoga room where he receives massages while gazing at a Japanese-inspired garden outside.