Wealth-X, a provider of wealth information and insight, published a report last week on the interests and passions of the world’s wealthiest individuals.
“The interests, passions and hobbies of the wealthy matter,” the report said, noting that firms that depend on prospecting for and engaging with the wealthy, such pursuits are key to a holistic understanding of an individual.
The report explores the diversity of interests among the global wealthy, providing an overview of the top interests, ranking the most popular and examining how these differ across wealth tiers.
The report focuses on two categories of wealth: very high net worth, individuals with between $5 million and $30 million; and ultra-high net worth, those with $30 million and more.
Wealth-X’s research found that sports are among the top interests of the wealthy, especially among men. Golf is by far the leading sport, followed by skiing and tennis.
Among regions, North America’s ultra-wealthy are the most actively engaged in philanthropy and the outdoors.
The level of an individual’s wealth has a marked effect on the degree of his or her engagement as it relates to philanthropy, while a passion for other interests shows little variation across wealth levels.
According to the report, gender results in quite noticeable differences in the interests of the very wealthy, with sports ranking at the top among men, just edging out philanthropy, and philanthropy ranking first among women, far ahead of other interests.
Wealth-X tapped its proprietary database to ascertain insight on the interests, hobbies and passions of the wealthy. Its proprietary valuation model (as defined by net worth) assesses all asset holdings, including privately and publicly held businesses and investable assets. The database uses the primary business address as the determinant of a wealthy individual’s location.
See the gallery for the top 10 interests and passions of the world’s very high-net-worth and ultra-high-net-worth individuals.
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