8 Hobbies of the Wealthiest People in the World

The wealthy may seem focused on boardrooms and business deals. But their hobbies reveal a different side to their character – a side marked by creativity, self-expression, and a desire for personal fulfillment. Hobbies enable the wealthy to find balance, inspiration, and joy beyond their professional achievements.

For the wealthy, hobbies are more than leisure activities. They are pursuits driven by the desire for purpose, a sense of community with like-minded individuals, or a genuine wish to make a positive impact.

This exploration takes a deep dive into eight captivating hobbies of the world’s wealthiest to reveal the inner passions and strategic motivations that shape their leisure time.

Barbara Picower, Bill Gates, George Soros, and Michael Bloomberg involved in philanthropy events
Source: Getty Images

Philanthropy can have truly transformative results, addressing global challenges such as educational inequality, healthcare access, and climate change. Take, for instance, Ruth Gottesman, the widow of the late David Gottesman (USD 3 billion net worth), who inherited USD 1 billion in Berkshire Hathaway stock from her husband.

Gottesman directed the fortune to the future of healthcare professionals by covering tuition fees for students at the Albert Einstein College of Medicine in the Bronx, New York. As a result, many students can now pursue medical education without the burden of student loans. Notably, her sole request was to forego any naming recognition for her generosity.

Ruth Gottesman giving a speech about the donation to Albert Einstein College of Medicine
Source: X

Many of the world’s wealthiest individuals and families establish their own foundations or sign the Giving Pledge, a commitment to philanthropy, to ensure their contributions are impactful and aligned with their values. Examples include:

• The Bill & Melinda Gates Foundation, founded by Bill and Melinda Gates, supports many projects including global health, education, civic development, and equality.
• The Open Society Foundations, founded by George Soros, focuses on global health and development, biosecurity and pandemic preparedness, and aid and catastrophic risk capacity building.
• The Wyss Foundation, founded by Hansjörg Wyss, is committed to environmental conservation, economic opportunity, community development, and medicine and education.
• The Bertarelli Foundation, founded by Ernesto Bertarelli and his family, is dedicated to environmental preservation and sustainability.

Warren Buffett, Mark Zuckerberg, Bernard Arnault, and Richard Branson engaging in sports
Source: Getty Images

Many wealthy individuals extend their passion for sports beyond personal participation by investing in the development of sports teams. Examples include visionaries such as Steve Ballmer (Los Angeles Clippers), Todd Boehly (Chelsea FC), and Rob Walton (Denver Broncos). However, such investments require careful consideration, including a team’s valuation, fan base, and revenue streams, as well as barriers to entry such as limitations on the number of teams in a league.

Extreme sports are another avenue for tapping into a person’s competitive nature, and more suitable for those inclined toward adventure and risk-taking. For example, Richard Branson has used his numerous world record attempts, including hot air balloon flights and kiteboarding adventures, to raise millions of dollars for charitable organizations.

3. Travel on Earth and Beyond

For some people, traveling means sightseeing and exploring new cultures, while for others it means investing in private estates or resorts to spend quality time with family. Many wealthy individuals favor secluded destinations or superyachts, allowing them to avoid the spotlight briefly while enjoying privacy and luxury vacations.

Among wealthy individuals, private islands have become the ultimate symbol of opulence and seclusion. Notable examples include Richard Branson, owner of Necker Island in the British Virgin Islands, and Larry Ellison, the co-founder of Oracle Corporation and owner of Lanai, one of Hawaii's most enchanting islands.

However, the most sophisticated travelers push boundaries, venturing literally beyond the horizon. Traveling beyond Earth’s atmosphere has become a new frontier with the rise of private space companies that have opened a new chapter in space exploration. Companies like Blue Origin and Virgin Galactic offer suborbital flights and provide a brief experience of weightlessness, but don’t achieve full orbit.

Dennis Tito, Jeff Bezos, and Charles Simonyi engaging in space missions
Source: NASA, Getty Images

In 2001, Dennis Tito became the trailblazer for private space travel. Since then, there have been over two dozen private space missions, including luminaries like Jeff Bezos, Charles Simonyi, and Guy Laliberté. Private space missions offer an extraordinary, one-of-a-kind experience, though they are not for the faint of heart. Every candidate must undergo rigorous physical and mental training to prepare for G-forces, weightlessness, and other unique challenges of space travel.

4. Networking

Attending high-profile events is more than a leisure activity; they are strategic and social endeavors. At these events, visionaries can enjoy an occasion while fostering relationships with like-minded individuals, leading to lucrative business opportunities, additions to investment portfolios, and philanthropic collaborations.

Gautam Adani, Tom Ford, and Sudha Reddy attending exclusive events
Source: Getty Images

Much like competitive sports, events such as fashion weeks, charity galas, and global forums offer opportunities for networking and connection-building. The Met Gala, for instance, is a display of opulence and couture, as well as a significant fundraising event for the Metropolitan Museum of Art’s Costume Institute.

5. Collecting

Among the most esteemed pursuits for wealthy people is the art of collecting. Far from being mere accumulations of valuables, collections reflect personal passions, strategic investments, and a desire to leave a lasting legacy. For many, collecting is a way to indulge in an interest and celebrate the finest examples of craftsmanship and creativity.

Jeff Bezos, Bernard Arnault, and the late Bruce Halle displaying their collections
Source: Getty Images

Billionaires like François Pinault and Bernard Arnault have amassed impressive art collections featuring classics by Picasso, Koons, and Warhol. These pieces represent significant cultural value while also serving as astute investments.

One can collect not only works of art but also historical monuments, such as Bill Gates’ collection of rare scientific books and manuscripts, including a coveted Leonardo da Vinci notebook, or Jeff Bezos’ collection of relics from historical space missions.

Some collections represent simpler passions, like vintage car collections. For example, Ion Tiriac, president of the Romanian Tennis Federation, owns a stunning collection of over 300 vehicles – many of which can be seen at his museum. However, the title of the largest car collection goes to Sultan Hassanal Bolkiah, who owns 7,000 cars including over 450 Ferraris and 500 Rolls Royces, which earned him a place in the Guinness World Records.

6. Reading

Despite the constant drive for innovation seeming to be a shared trait among the wealthy, many also find solace and inspiration in literature. Take Elon Musk, a visionary who also acknowledges the profound influence literature has had on him. His ambitious company xAI finds inspiration in the imaginative universe of Douglas Adams’ “The Hitchhiker’s Guide to the Galaxy.” Furthermore, his AI assistant, aptly named Grok, derives its moniker from Robert A. Heinlein’s seminal work, “Stranger in a Strange Land.”

Bill Gates, Elon Musk, and Oprah Winfrey posing with books
Source: X

Bill Gates dedicates an hour or two each day to reading and takes notes on about 20% of the books he reads, as he revealed during his 9th Ask Me Anything session on Reddit. His commitment to literature is further exemplified by a dedicated page on his blog where he writes about book recommendations.

Amid the wave of active artificial intelligence development, Gates highlighted Brave New Words: How AI Will Revolutionize Education (and Why That’s a Good Thing) by Salman Khan, the founder and CEO of the education nonprofit Khan Academy, as his book of the month for May 2024. This recommendation was prominently shared in a post by Gates on X, illustrating his sustained engagement with literature and its critical nexus with technology.

If you're passionate about education, you need to read this book. Sal offers a compelling vision for harnessing AI to expand opportunity for all. https://t.co/5QwCp1ar0G

— Bill Gates (@BillGates) May 14, 2024

7. Playing board and video games

For experienced investors, playing games is a blend of leisure with intellectual stimulation and strategic thinking. Engaging in complex games requires foresight, planning, and adaptability – essential qualities in the business world. In an interview with CNBC Make It, Reid Hoffman, co-founder of LinkedIn, admits that board games were one of the main predictors of his later success, as those games helped him see how different tactics could build into a single strategy.

Bill Gates, Warren Buffett, and Richard Branson enjoying games
Source: CGTN, Facebook, PC Gamer

Playing board games allows connecting with like-minded individuals who share a competitive spirit. As a prime example, Warren Buffett is a renowned bridge enthusiast. He frequently partners with Bill Gates in bridge tournaments, underscoring the game’s appeal as a tool for mental agility and social interaction. Similarly, Richard Branson enjoys chess, appreciating the strategic depth and intellectual challenge it offers.

Modern games also hold a special place in the hearts of tech-savvy wealthy individuals. Bill Gates has shared his love for Wordle on his blog, noting how the daily word puzzle helps keep his mind sharp and engaged. Mark Zuckerberg and Elon Musk are both known to indulge in video games for similar reasons. In a Facebook post, Zuckerberg revealed that Civilization has been his favorite game since middle school, and was one of the inspirations that led him to computer engineering.

8. Playing music

The wealthy are drawn to the arts in a number of ways. Some donate to museums, some amass their own collections, and others learn to create art for themselves. Creating art is a way to channel creativity, explore new ideas, and connect with one’s innermost thoughts. And playing music is one way wealthy people unwind and express themselves.

Bernard Arnault, Warren Buffett, and Gordon Getty’s music performances
Source: Getty Images, Moanalani Jeffrey Photography

For instance, Microsoft co-founder Paul Allen was a skilled guitarist who frequently performed with his band. Bernard Arnault, the titan behind luxury brand LVMH, learned to play the piano in his childhood, instilling in him a lifelong love for music. Warren Buffett finds joy in playing the ukulele, using it as a way to unwind. Beyond playing instruments, some visionaries delve into composing music. Gordon Getty, heir to the Getty oil fortune, is also a renowned composer.

Final Thoughts

Wealthy individuals prioritize time efficiency, even in their leisure activities. The hobbies of wealthy individuals are as diverse and sophisticated as their professional pursuits, ranging from art collecting and music composition to gaming and extreme sports. These hobbies serve as strategic investments in intellectual growth, opportunities for social connection, and a platform for making an impact.