The rich love sports and giving most, while faith and films rank way down.

Wealthiest love golf and giving most; ranks religion way down.

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.

India is a Favorite Destination for Global Corporate Giving

India topped the list of countries where most corporate giving went from international businesses in 2012, according to a recent report by the Committee Encouraging Corporate Philanthropy (CECP). Among 60 large multinational companies that gave a total of $6.8 billion, nearly 70 percent earmarked a share of   their corporate giving to India.

The study, authored by CECP’s Carmen Perez found that most large businesses chose to invest their  funds in geographical neighbors and emerging markets. The study  tracked giving according to three categories, namely direct cash, foundation cash and in-kind contributions.  Total giving per company ranged from $450,000 to about $1.5 billion. The median total giving was $29.25 million.

Below are key points from the study that show trends in global corporate giving :

  1. Global corporate giving remains unevenly distributed. Some companies elected to give large contributions to a select few countries while the others received much less.
  2. A company’s strategic business needs dictate corporate giving, especially among multinationals investing in emerging markets.
  3. Corporate interests govern giving and funds typically flow into neighboring countries or to emerging markets.
  4. Emerging markets namely India, Brazil, China, Colombia, Indonesia, Malaysia and Mexico received larger charitable contributions in 2012, driven largely by robust economic growth.
  5. Businesses gave less in countries like Turkey and Venezuela citing instability and political turmoil.