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WHEN BILLIONAIRES HAVE free time, they have the means for extravagant hobbies, whether it’s collecting classic cars or jet-setting across the globe. But the most common hobby billionaires pursue isn’t a display of wealth — it’s philanthropy.
Wealth-X, a company that conducts research on the ultra-wealthy, recently released its annual billionaire census, which explores the trends and habits of the world’s richest people. The census tracked billionaires’ passions, interests and hobbies, providing us with a peek into how the super-wealthy spend their free time.
Philanthropy proved the most popular hobby, with more than half of all billionaires pursuing charitable activities.
This generosity comes as no surprise, though, thanks to the rise in recognition of endeavors such as The Giving Pledge, a promise started by Bill Gates and Warren Buffett to commit more than half of their wealth to philanthropic causes during their lifetime.
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Melinda and Bill Gates Michel Euler / AP/Press Association Images
Michel Euler / AP/Press Association Images / AP/Press Association Images
“The Bill and Melinda Gates Foundation and The Giving Pledge have instilled a sense of humanitarian responsibility in billionaires to use their vast wealth to make a difference in the world,” Wealth-X notes.
From art and fashion to hunting and fishing, read on to see the 20 most common hobbies and passions the world’s richest people spend their money on, as well as the percentage of billionaires who participate in each category.
Chelsea's owner Roman Abramovich Rebecca Naden / PA Archive/Press Association Images
Rebecca Naden / PA Archive/Press Association Images / PA Archive/Press Association Images
10. Collectibles — 14.1% 9. Automobiles — 14.5% 8. Health and exercise — 14.8% 7. Boating — 14.9% 6. Wine and spirits — 15.9% 5. Politics — 22.2% 4. Fashion and style — 25.2% 3. Art — 28.7% 2. Travel — 31% 1. Philanthropy — 56.3%
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