More than 22.4 million millionaires roam the world, almost 2 percent more than a year ago. Over the next five years, that number will grow to more than 30.1 million.
So says Wealth-X, whose 2019 High Net Worth Handbook provides a glimpse into the lives of millionaires. The report indicates that New York City is the place most high-net-worth (HNW) individuals (defined as those with a net worth between $1 and $30 million) choose to live. In fact, the Big Apple has 65 percent more millionaires than Tokyo, the second highest city on the list. Overall, the U.S. is a popular place to live. Of the top ten cities HNW individuals call home, six are in the States. While millionaires are more likely to be male, the number of women on the list is growing as is the number of those who are self-made. Almost 90 percent of this group has a net worth between $1 and $5 million.
But what do these high-net-worth individuals prefer to do with their time and money? Wealth-X used a proprietary model to break down their 20 most popular interests, passions and hobbies, and what percentage of HNW individuals have an interest in those areas. In many cases, their interests reflect their careers and offer opportunities for them to continue to learn and grow.
9 Percent Are Interested In…
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Of course, there are HNW individuals who made their millions by performing music. But most choose to listen or play casually. Executive chairman of the Madison Square Garden Company James Dolan, for instance, leads a band on the side, JD & The Straight Shot.
When asked about preferred styles, most like music in general, followed by classical, rock ‘n’ roll and jazz. A smaller percentage of HNW individuals enjoy singing, opera, country, hip-hop and dance music. When it comes to instruments, they tend to favor guitars and piano, followed by drums and violin, with cello, saxophone and trumpet completing the list with less than 1 percent each.
