This really damages the credibility of the article: "These investors must prove a certain net worth and go through a restrictive application process to become

This really damages the credibility of the article: "These investors must prove a certain net worth and go through a restrictive application process to become accredited." In fact, there is no application process whatsoever. No organization "accredits" an accredited investor, and the SEC doesn't keep a list of who is and who isn't. If you satisfy the SEC definition, you simply are one: http://www.sec.gov/answers/accred.htm http://www.sec.gov/answers/accred.htm Your status as an accredited investor is self-certified. If you go to a hedge fund with a sack of money and claim to be accredited, they'll take your word for it. All that the law requires is that they have a "reasonable belief" you're telling the truth. From SEC Release 33-6455: "What constitutes 'reasonable belief' will depend on the facts of each particular case. For this reason, the staff generally will not be in a position to express views or otherwise endorse any one method for ascertaining whether an investor is accredited."