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The Borana pastoral system has long-been regarded as a model for sustainable resource use in eastern Africa.� Recent growth in human and livestock populations, however, has contributed to a marked decline in rangeland condition as well as an increasing incidence of poverty among pastoralists.� Another trend has been an increase in pastoral household wealth stratification; today about 10% of the population controls 60% of the livestock.� Because wealthy pastoralists are important here and have never been studied, research was conducted to assess how the wealthy perceive change in the pastoral system and how they manage their assets.� Twelve in-depth interviews with elderly, influential men occurred.� The interviewees perceived that the pastoral system is indeed in decline, and the most serious constraints for livestock production include chronic shortages of forage and labor. �The average value of the physical and financial assets held by these men was estimated as at least USD $164,000, about 62-times that held by poor households.� The average investment portfolio was comprised of livestock (two-thirds of total value), while savings accounts in local banks and urban real estate (largely housing) made up the remainder.� Livestock in general, and cattle in particular, were the riskiest assets given recurrent effects of drought on animal productivity and mortality.� When asked to identify future investment priorities, the men noted that investing in real estate and their children were preferred to investing in more livestock.� The spread of urbanization in the rangelands has given the wealthy new options to reduce their risks of animal asset losses by investing more in non-livestock options.� The latter could be important for small-town development as well as in providing incentives to improve rangeland management via destocking.� Public educational programs that prominently include wealthy pastoralists as opinion leaders and mentors could help accelerate positive changes in the system.