Wealth-X has released a new analysis that takes an in-depth look at the favored pursuits of the wealthy, particularly the very high net worth population (VHNW) with assets from $5 million to $30 million. The vast majority of the wealthy population is self-made and individuals tend to spend the bulk of their time involved in the day-to-day running of commercial enterprises. Despite business activities being a primary focus, the rich do of course have a long list of passions such as fashion, technology and the outdoors, with sports and philanthropy standing out in particular according to the analysis. Interest in all of these hobbies tends to vary by wealth level while engagement increases with age.
Wealth-X found that sport is universally popular among the wealthy with a quarter of individuals in their database engaging in it regularly as an active leisure pursuit or for relaxation (or both). Given its association with the rich and famous, it isn’t too much of a surprise that golf is the most favored sport by far among the VHNW population with 18.6% of individuals saying they play it or watch it. Football/soccer, the world’s most popular sport, comes in at number two with 11.3%. Wealth-X notes that the emphasis here is more likely on watching soccer rather than playing it but that commercial involvement in the sport by the wealthy has risen dramatically over the past decade. Skiing comes third in the popularity stakes with 10.9%. Like golf, skiing is known as a traditional active pursuit among the wealthy and many ski resorts count themselves among the most exclusive gathering places for the super-rich on the planet.
*Click below to enlarge (charted by Statista)