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Are you curious to find out what some of the most popular hobbies among millionaires and billionaires are?
It can be quite intriguing to find out how those with tremendous wealth choose to spend their free time. While some hobbies on this list are not surprising, others very much are.
1. Hiring People to Indulge in Your Hobbies
Are our hobbies usually tuned toward personal experience? ‘Hiring people to indulge your hobbies is about as 1 percent as one can get.’ Someone has said.
Imagine having enough money to have an artist on call to create artwork on demand. Or having enough money
2. Racetrack Membership
Someone who claimed to work at Porsche described racetrack membership as one hobby common to the la crème de la crème. ‘Many clients have racetrack memberships where they garage their cars and have track days. $80-90k initiation fee, $10k annual fee for some memberships.’
The user explained. That’s a lot of money to spend on any hobby, you would agree.
3. Investing in Real Estate
For many 9-to-5ivers, what comes to mind thinking of real estate is the generation of wealth and protecting your quids against biting inflation.
The perspective does not take such a severe tone for the super-rich, according to this person who recounted a meet and greets with a new top gun at her company whose fun time interest is in acquiring real estate.
Where do you, Summer? According to one person is the question of the cliquey that points to the luxuriousness of their hobby. In response, another user jokingly remarked, ‘in my bedroom.’ Someone else lit the thread when they replied, ‘same as the winter.’ Another user raved, ‘And Spring, and Fall. I year in the same spot.’
Several users agree that summering is a unique tagline in the fun time conversation of the wealthy.
While traveling can be done cheaply with proper planning, ‘doing it cheaply multiple times in a year’ speaks boldly of wealth, according to one user.
This person argues that round-the-year traveling does not only speak fluently of unbridled wealth because it is costly but because having the financial muscle to spend without being present at work is another level of upscale net worth.
6. Playing Tennis
Several users opined that playing tennis as a hobby is one totem of wealth that should not be disregarded. Someone said that while tennis may be inexpensive, most millionaires readily adopt it as their favorite hobby.
Several other persons, however, disagree with the affluent nature of tennis as a hobby, arguing that the hobby’s elevation as an opulence emblem is more a thing of cultural significance rather than a symbol of surplus.
7. Buying Custom Homes
One person shared a story about crossing paths with a billionaire in an office bathroom who didn’t understand why home buyers would splurge money on homes without customization; another answer is that the billionaire’s hobby is one catalyst for the scarcity of affordable houses to low-income earners.
8. Collecting Art
Several users say that the art collection is a hobby of the super-rich, primarily because of the ridiculous prices of certain bids and auctions for prized art.
Across the Himalayas to Everest, mountaineering is a popular hobby of those with big bags, according to one person’s account. This individual claimed a childhood friend who is a tour guide on Everest and charged as much as $200k in the booking.
Someone else supported the propensity of this claim to be true when they stated that countries like Nepal charge as much as $10K for the climbing permit.
Can giving be classified as a hobby? Turns out it is the top-drawer hobby of the most-moneyed, going to the narrative of several contributors.
Philanthropy is the prerogative of the aristocrats.
Owning a yacht is tremendously expensive and as a result, screams a person is rich.
Not only do people have yachts for pleasure, but many race them, which is even more expensive.
Playing polo has long been seen as a rich person’s sport. But many people don’t realize just how expensive it is. While many think you need a single horse to play, you are required to have at least five horses.
On top of this, you need the land and stables for the horses when you don’t play, people to tend to the horses, and a trailer to get to the games.
13. Country Clubs
Golf is another rich person’s sport and many country clubs have high initiation and annual dues.
Granted you get benefits in addition to simply playing golf, but for $50,000 or more a year, the cost is out of reach for most people.
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I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
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