[4][5][6] He earned a Bachelor of Science in Foreign Service from Georgetown University in Washington, DC in 1977, and a Master of Business Administration from INSEAD in Paris in 1983.

[9][10] Wachtmeister spent 16 years as an investment banker, working in London, New York and Los Angeles for Lehman Brothers, Rothschild and Ladenburg Thalmann.

[5] To maintain its desired exclusivity, A Small World, while free, was invitation-only, open only to those invited by an existing member.

[13] Wachtmeister has said the idea for an exclusive worldwide social networking site occurred to him in 1998, during a wild boar hunt in the German forest.

[11][18] Wachtmeister and his wife launched Best of All Worlds on August 27, 2012,[8] as an invitation-only, free social media website and iPhone and iPad app.

[10] The site was financed by a San Francisco-based venture capital firm and private investors from Europe and the Middle East, including a member of the Saudi royal family.