Multicultural

The wealthiest amongst us love playing golf and giving money away, while religion ranks very low among their interests. In a recent report by Wealth-X on the “Interests, passions and hobbies of the wealthy 2021,” one in five among the richest people on earth ranked sports and philanthropy as one of their top 30 choices while religion and film ranked #22 and #23 respectively.

The report identifies the pursuits of the wealthy, classifying them as very high net worth (VHNW) ($5M to $30M) and ultra high net worth (UHNW) as those having a networth of $30M plus.

The vast majority of the wealthy (60.7%) are self-made and their average age is around 60.

“Understanding their interests provides an opportunity to deepen relationships with the wealthy in an emotionally relevant and unique way,” the report adds.

Among the wealthy, North Americans were the ones mostly engaged in philanthropy and were passionate about the outdoors.

While sports ranked number one among the pursuits of ultra wealthy men, women found philanthropy more enticing. More women loved art (#3) while men ranked art low (#10).

Surprisingly, millennials formed just 4% of the high net worth individuals and their interests varied with the general very high net worth population. They ranked sports, technology and travel as their favorite hobbies. Philanthropy was important to them but it came way lower in their list of priorities.