Rich people have enough time on their hands because they make their wallets work for them. During that time, they engage in all sorts of expensive hobbies that the ordinary man can only dream of. Want to know the hobbies of the rich?
Most people probably think of luxurious and wealthy people as living busy and boring lives; However, millionaires and Billionaires engage in meaningful hobbies that cost them millions of dollars.
This article will outline 11 hobbies reserved only for rich people and why.
Hobbies only Rich people can afford
Philanthropy happens to be one of the most expensive endeavors on the planet. Worthy a cause it may be but if you are not in the league of the super-rich maintaining it won’t be possible. For instance, the likes of Billionaire investor, Warren Buffett donates billions of dollars to his three children’s foundation. Bill Gates on the other hand has one of the largest philanthropic organizations on the planet and contributes billions each year to the works of numerous charities both in and outside the United States of America. In addition, Mackenzie Scott according to Forbes donated between 5-8 billion dollars to over 500 different charities and groups in 2020.
From where we sit, this is where generosity becomes a pocket puncher. However, if you prefer low-cost hobbies, we are here at your service.
However, don’t let this stand in your way of positively affecting the lives of others. You don’t need millions to help someone.
Related Content: Inspirational Quotes By the Andrew Carnegie (The Philanthropist)
Next is Skiing. Skiing you might think is not luxurious but for rich people who fly in expensive private jets to exclusive and exorbitant ski resorts, Skiing is one of the hobbies only rich people can afford. Yes! Rich people prefer exclusive 5-Star experiences, so they spend hefty money during their free time.
Traveling around the world demands a heavy wallet. What is being explained here is not once a year kind of traveling. Super wealthy people travel a lot in either expensive privately owned jets or expensive commercial flights.
In reality, traveling all the time is meant for only the folks with deep pockets.
Yachting is a particularly luxurious hobby only rich people can afford. The cost of a yacht alone goes into millions of dollars. Additional cost includes amenities like staff, fuel, and other essential supplies.
This popular article from the Galatiyachts website will give you more details on the cost of a yacht.
Another aspect of this hobby is that rich people couple it up with other expensive water hobbies like scuba diving, jet skiing, boating, and paragliding.
Cigarette Boat Racing
You may not know but the numbers show that this hobby can really pack a punch in your pocket so only the supper wealthy participates in it. This is unlike any kind of racing you might have in mind. In this racing, the loser buys the winner a new convertible. And from what we know such cars are really expensive.
The cigarette boat got its name because smugglers with contrabands used them to escape from authorities. Hence the name cigarette boat.
These boats are really expensive costing around $500,000.00 – $2,000,000.00. In fact, an article published by Bloomberg shows the unveiling of the $2 Million AMG Cigarette Racing Boat by Mercedes-Benz in February 2018.
Collecting Exotic Animals
Ideally the super wealthy won’t go for a domestic animal whether it’s a dog or a cat. Exotic animals are their preference and these animals cost a lot.
Here is a list of exotic animals and their hefty price tags which may equal your life savings.
- Cheetah Cub — $15,000.00 – $25,000.00
- Tiger Cub — $3,000.00
- Grown Tiger — $50,000.00
- Lion Cub — $1,500.00 – $15,000.00
In addition to acquiring these animals, there is the cost of care and facilities for keeping them healthy and vibrant. That alone could cost you around $90,000.00 – $100,000.00.
Examples of rich people who owned and may still have such exotic animals are Mike Tyson who owned tigers, Justin Bieber, and Christine Harley just to mention a few.
Collecting Vintage Cars
Collecting vintage cars can be well out of your reach as a hobby because they are very expensive. This is a luxurious hobby, running into millions of dollars. For example, Jay Leno 1954 Mercedes Formula One cost $29.6million.
Maintaining them is also another issue that can really affect your wallet if you’re not rich.
Another collecting hobby reserved for the rich Art Collection. Rare and expensive art is only within the reach of wealthy people because these collections cost millions of dollars. If you don’t have millions in the bank count yourself out.
Here are examples of expensive and rare art collections in the world.
Pablo Picasso’s Masterpiece “ Les Femmes d’Alge” was sold for $179 million at auction in 2015. Also, When You Marry by Paul Gauguin was sold to Qatar Museums for $300 million.
Celebrities like DiCaprio are also known to have really expensive art collections.
Art is expensive and collecting particularly rare ones can only consequently be considered a hobby for the rich.
Art may be expensive but so are antiques. Most people don’t this hobby an expensive. However, at some level, it becomes affordable for those with large pockets. In fact, there are antiques that cost over $250,000.00.
To sum it up, collecting antiques could be thought of as a hobby for rich people.
Rich people love cars. More specifically expensive high-performance racing cars. These cars cost up to $950 for a three-minute ride. Imagine that. That is probably more than what most ordinary folks make in a month.
This hobby is expensive and therefore reserved only for the rich.
This section speaks for itself. This hobby is a hundred percent rich category. Renting a plane costs a fortune not to talk of buying your own private jet.
Even if you manage to buy a private jet which alone cost up to $25 million, you would have to get a private pilot license going for about $12,000.00.
Similarly, renting one will pack a punch because, aside from the license, you will pay $200 – $300 per hour to operate the plane.
These hobbies are probably very expensive and can only be undertaken by people with lots of cash. If you intend to be a billionaire one day, then these hobbies will one day be a spare time activity.