7 Rings of Wealth Review – Legit Company or Big Scam? Find Out Here…
Welcome to my 7 Rings of Wealth Review!
I have been hearing some buzz about this company in the online world, so I figured I would check it out.
With so many new companies popping up, it can be hard to determine which ones are legit and which ones aren’t.
The aim of this blog is to help you with your decision on which company are a good investment and which ones aren’t.
My review will go over the company background, the products and the compensation plan.
Keep reading to learn everything you need to know about 7 Rings of Wealth.
7 Rings of Wealth Review – The Company
7 Rings of Wealth doesn’t offer any information on the company website about who owns or operates the business.
I did manage to find out that the 7 Rings of Wealth website domain was registered privately as “7ringsofwealth.com” on the 15th of February, 2017.
The 7 Rings of Wealth website mentions something called “the Nation”:
To begin earning Patronage Refunds in the 7 Rings of Wealth Crowdfunding project for “The Nation”, simply click on the Signup button and get started today.
At the bottom of the website you will see “CollaborateUSA, LLC”.
Collaborate USA is found online at “collaboratenation.com”, which is where an explanation of “the Nation” is:
We choose to govern as a Collaborative Commonwealth, a league, or confederacy of independent persons and businesses (Members), where each individual Member has one voice and one vote, is sovereign and may opt-out without duress or recourse should the Collaborative Commonwealth cease to align with their individual rights and ideals.
That all Members of the Nation shall be Members of Collaborate CoOp, a cooperative association.
That those Members who voluntarily choose to may purchase ownership in Collaborate CoOp by paying a one-time Share Fee of $240 (called a Share Member), and may vote for a Board of Directors of Collaborate CoOp who shall represent the Members in contract and governance.
The Board of Directors shall rotate annually as per the Bylaws of the cooperative association.
The individual who is running this particular chapter of sovereign citizens is not mentioned, however 7 Rings of Wealth is cited as ‘the latest innovation of the popular Collaborative CoOp Community known as “#The Nation.”
The website does mention that Dr. Robert Needham, JD, PhD will “lead the team of experts and instructors in the 7 Rings of Wisdom webinar series.”(1)
Also note they say “7 Rings Of Wealth, 7 Rings Of Wisdom”.
7 Rings of Wealth Reviews – The Products
7 Rings of Wealth does not offer any retail products or services to retail customers or its affiliates.
Affiliates who sign up with 7 Rings of Wealth simply market the affiliate membership.
7 Rings of Wealth affiliate membership offers access to various webinars about assets, health, leisure, training, income, crowd and family.
The 7 Rings of Wealth Compensation Plan
Affiliates who join 7 Rings of Wealth are required to donate money to each other through a 2×7 matrix in order to participate in the compensation plan.
A 2×7 matrix puts an affiliate at the top of a matrix that has 2 positions right under them.
These first 2 positions make up level 1 of the matrix and level 2 is created by adding another 2 positions under each of the first two, for a total of 4 positions.
Matrix levels 3 to 7 are created the same way, and every new level holds twice as many positions as the level above it.
Affiliates start out by signing up and donating $5 to the affiliate who sponsored them.
This donation also gives them with a matrix position, where they will receive two $5 donations from 2 affiliates sponsored into level 1 of their own matrix.
$5 of these two donations is kept and the other $5 is donated in order to unlock the second level of the matrix.
The second level of the matrix holds 4 positions and again, each of those four affiliates will donate $5.
Following this pattern, a 7 Rings of Wealth affiliate will donate larger and larger amounts of money as they unlock new matrix levels as follows:
- level 1 – Donate $5 to the affiliate who recruited you and receive $5 from two subsequently recruited affiliates
- level 2 – Donate $5 and receive $5 from four affiliates
- level 3 – Donate $10 and receive $10 from eight affiliates
- level 4 – Donate $40 and receive $40 from sixteen affiliates
- level 5 – Donate $100 and receive $100 from thirty-two affiliates
- level 6 – Donate $500 and receive $500 from sixty-four affiliates
- level 7 – Donate $2500 and receive $2500 from one hundred and twenty-eight affiliates
Cost To Join 7 Rings of Wealth
The cost to join 7 Rings of Wealth as an affiliate is $5 a month, which is paid to the affiliate who sponsored you.
Verdict on 7 Rings of Wealth
The first thing I have to mention is the fact that this company doesn’t call these donations “gifting payments”…
Instead, they refer to them as “Patronage Refunds”…
Their business model is crowdfunding and the only way to make money is to recruit other affiliates who pay these $5 fees every month…
When all is said and done…
It’s just a roundabout way of taking money from new affiliates to pay existing affiliates…
And when the recruitment numbers drop off, the funds will decrease and the company will collapse…
So my advice is to do your due diligence before considering this company…
I hope you enjoyed my 7 Rings of Wealth review and if you have any questions, please leave them in the comments below…
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