What makes ultra-high-net-worth individuals tick?
Wealth-X said detailing the IPH of rich individuals by region, age and gender provides insight into predilections that may or may not be related to matters already known about a person.
“When an individual has previously transacted with a private-sector company, or supported a nonprofit organization financially or otherwise, this is taken to represent some level of affinity for a brand or a cause,” according to the study’s introduction. “Further, the magnitude of spend or giving will also naturally be used as a proxy for the level of interest.”
The analysis was based on completed dossiers Wealth-X has developed of ultra-high-net-worth individuals where IPH are known. The dossiers’ information about hobbies and interests may have been revealed by the individual, or been inferred from evidence of the person’s interest in a particular pastime, activity or leisure pursuit.
The analysis reflects different levels of coverage by country, with a bias toward regions where more records relative to the ultra-wealthy population are available, notably North America and Europe.
Wealth-X said that its World Ultra Wealth Report 2017, published last summer, excluded business, finance, technology, family, real estate and travel from its global top 10 IPH table because they did not fit comfortably under the label of “interest.” These categories are included in the new study.
The IPH study found that Latin Americans had the highest incidence for aviation, family, engineering, environment and economics. Their European counterparts scored highest for travel, art, music, vehicles, food, science, collectibles and languages.