Home Residential Property Meet the archetypal billionaire – survey reveals spending habits

Meet the archetypal billionaire – survey reveals spending habits

by Deleted Subscriber Content
31st Mar 14 10:54 am

The £22.3m London mansion is typically filled with art worth millions, though neither asset class is likely to have made much of a dent in the £1.79bn fortune of the average billionaire, as identified by a new survey.

The Beauchamp Estates Ultra Prime Survey has found that your typical billionaire has four homes, totalling at least £50m.

As well as the London pad – typically situated in the “platinum triangle” of Mayfair, Knightsbridge and Belgravia, or in the St John’s Wood/Regents Park area – they’ll have an £18.6m French Riveria home and Tuscany estate worth on average £12.1m.

Some 86% of the world’s 2,170+ billionaires are married, with 2.1 children.

Six in 10 are self-made, while two in 10 inherited their mega-bucks.

>> Meet the 15 richest billionaires in the UK

Billionaires favour quantity over quality when it comes for properties, opting for sprawling family pads rather than bachelor apartments (though, let’s be honest they can probably just about afford quality too).

The report explains: “Contrary to urban myth that billionaires live in ‘James Bond villain’ style lairs, most choose large traditional family homes.”

London is Western Europe’s number one capital city for billionaires – 67 live here, with Paris coming in with a comparatively impoverished 25 billionaires.

The report also found that the average billionaire holds “42% of their wealth (£760m) in private holdings; 35% (£630m) in publically-held companies; 18% (£325m) in cash; 3% (£50m) in residential real estate and 2% (£35m) in luxury assets such as artwork, yachts and private jet travel”.

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