March 22, 2019

What Does a Billionaire Do in His Free Time?


They belong to the exclusive 1% of the world’s population and there are only 2,754 of them, as of last year. Billionaires are a class of their own. They built their empires, accumulated massive wealth and catapulted themselves to that elite circle where only a few can ever join.

Billionaires usually spend most of their days running their businesses, jet setting around the world to grow their empires even more and taking on philanthropic duties in an effort to give back and share their wealth. But when they do have some free time, they usually spend it on three things: sports, collecting art and music.

Billionaires and Their Favorite Sports

According to a report released by WealthX, an intelligence and data company, 44% of the world’s billionaires are passionate in different sporting activities, but their sport of choice is usually golf followed by skiing and tennis. Billionaires love sports because it offers them a temporary distraction from their highly demanding lives. And when you can afford to pay front row tickets to those elite sporting events or hire the coach of professional players, then you’ll surely have more than just a relaxing time playing sporting activities.

One of the most avid fans of golf, for instance, is billionaire Bob Parsons, the man behind GoDaddy’s success. Aside from building his billion-dollar empire, Parsons also invested a lot in his passion: golf. In fact, he owns Scottsdale National, a multimillion-dollar golf club in Arizona and his own golf equipment brand Parsons Xtreme Golf. Virgin mogul Richard Branson, on the other hand, is passionate about tennis. In fact, he annually hosts the Necker Cup, a world-class pro-am tennis event in his private island in the British Virgin Islands.

Billionaires and Their Favorite Art

Collecting art is definitely a wealthy man’s hobby. In fact, the report says that almost half of billionaires are interested in collecting art. Aside from being a good way to dress up a house, art is also a good investment asset, which is why wealthy people are attracted to them. One of the biggest billionaire art collectors today is Dmitry Rybolovlev who is mostly known for selling Leonardo da Vinci’s painting “Salvador Mundi” for $450.3 million at an auction in Christie’s. Although he has been involved in allegations over what is now known as The Bouvier Affair, the oligarch’s art collection is no less than impressive even for the most avid collectors. Mitchell Rales is another billionaire who has amassed over 800 works of art from some of the best modern and contemporary artists in the world—from Henri Matisse to Willem de Kooning. In fact, he built his own private museum named Glenstone in Maryland, a 200-acre estate where his prized art collection is displayed.

Billionaires and Their Favorite Music

Being a billionaire definitely comes with a lot of stress and pressure. So, how do the wealthy people calm their nerves and relax? The report says, they listen to classical music. This is quite understandable since more than half of billionaires in both the United States and Europe are over the age of 70, which means that they belong to that demographic with a particular taste in music. But with the rise of younger billionaires, musical tastes have also evolved over the years.

One of the most documented billionaire music fans is the late Steve Jobs who was always vocal about his love for classic rock and folk music. His favorites include Joni Mitchell, Cat Stevens, the Beatles, Miles Davis and of course the Rolling Stones. Richard Branson, on the other hand, has an edgier choice of music with his favorite band being the Sex Pistols. Tesla billionaire Elon Musk is a big fan of Frank Sinatra but said that he listens to Monty Python’s “Always Look on the Bright Side of Life” to remind him to focus on the positive things. Bill Gates is also a huge music fan with a strong devotion to U2, the Beatles and the Rolling Stones. He also loves listening to tunes from his favorite Broadway shows like “Wicked.” Of course, there is Facebook mogul Mark Zuckerberg, the ever-so-different billionaire who loves pop royalty Lady Gaga and electronic duo Daft Punk.      

When it comes to popular musical instruments, the piano and guitar are two of the billionaires’ favorites while the drums and violin come in at 3rd and 4th place.

When you have seven figures on your bank account, life definitely takes on a whole new perspective. But for these billionaires, money is just something that they’ve earned from their hard work. They’re also like most people when it comes to the things they love and enjoy.