As per an analysis released by Wealth-X that looks at the interests, passions, and hobbies of VHNW (Very High Net Worth) set – those with $5 million to $ 30 million – and UHNW (Ultra High Net Worth) set including those with assets ranging beyond $ 30 million, sports and philanthropy stood out in the list of the activities that the super-rich engage themselves in.
Another observation that came to the fore was that the hobbies varied with the level of wealth and the engagement followed an uptick with age. Wealth X discovered that the wealthy in general love sports with one-fourth of the population indulging in it either as an active leisure pursuit or for relaxation – or sometimes both.
The Top Two
Among the sports, golf emerged as the number one choice with 18.6% of VHNW people, either for watching or playing it. The findings were hardly a surprise given golf’s long-standing association with the rich and famous. Soccer or football stood out at number two with 11.3 % of VHHW people indulging in it. However, the findings threw a discerning difference in the interests according to gender with sports ranking at the top among UHNW men. The findings revealed another interesting trend. As compared to playing soccer, the millionaires preferred watching it, thus consuming the sport rather passively. Over the past decade, the sport also registered a huge commercial involvement by the wealthy owing to its massive popularity across the globe.
Skiing occupied the third spot with 10.9% wealthy indulging in it. Like golf, skiing also enjoys a reputation of the wealthy tag attached to it. The skiing resorts across the globe often serve as the meeting ground for the millionaires. The list also mentions tennis, basketball, American football, cycling, and baseball at the fourth, fifth, sixth, seventh, and eighth spot with 7.1 %, 5.9 %, 5.9 %, 5.4 %, and 4.7 % wealthy indulging in it respectively.