The 10 most common hobbies among the richest people in world, from aviation to real estate

When rich people have free time, they have the means for extravagant hobbies, whether it's collecting classic cars or jet-setting across the globe. But the most common hobby they pursue isn't a gaudy display of wealth it's philanthropy.

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When rich people have free time, they have the means for extravagant hobbies, whether it's collecting classic cars or jet-setting across the globe. But the most common hobby they pursue isn't a gaudy display of wealth — it's philanthropy.

In a report from Wealth-X, a market research firm that focuses on ultra-high net worth individuals, we get a peek at the top passions, interests, and hobbies of people with a net worth of $1 billion or more.

Philanthropy proved the most popular hobby, with more than half of the world's wealthiest people pursuing charitable activities. This generosity comes as no surprise, though, thanks to the rise in recognition of endeavors such as The Giving Pledge, a promise started by Bill Gates and Warren Buffett to commit more than half of their wealth to philanthropic causes during their lifetime.

Read more: Lionel Messi is the highest-paid athlete in the world. Here's what we know about how the famously private soccer player makes and spends his millions.

The second-most popular interest among this group is watching, playing, and investing in sports, including tennis, soccer, skiing, American football, and most of all, golf, according to Wealth-X.

From art and fashion to hunting and fishing, read on to see the 10 most common hobbies and passions of the wealthiest of the wealthy, ranked in order of popularity.

10. Boating

Oracle founder and CTO Larry Ellison, who has a net worth of more than $48 billion, celebrates during the America's Cup sailing competition. Ezra Shaw/Getty

According to Wealth-X, 21.8% of the billionaires worth $5 billion or more enjoy boating. That includes Oracle founder Larry Ellison, whose net worth is north of $56 billion.

9. Travel

Egypt is billionaires favorite vacation spot in 2019, according to boutique luxury travel agency Original Travel. Harrison Jacobs/Business Insider

Egypt, Japan and Iceland are favorite travel destinations of the world's wealthiest people, Business Insider's Hillary Hoffower previously reported.

Read more: These are the 15 hottest destinations billionaires are traveling to in 2019

8. Outdoor Activities

Billionaire banking heiress Alexandra Andresen (right), pictured here with older sister Katharina (left), can be seen riding horses and hiking on her Instagram account. alexandraandresen/Instagram

Outdoor activities are a favorite pastime of American billionaires in particular, according to Wealth-X.

Read more: This is how the world's youngest billionaires spend their time and money

7. Art

Walmart heiress Alice Walton's immense art collection can be viewed at the Crystal Bridges Museum of American Art in Bentonville, Arkansas. D Dipasupil/Getty Images

Collecting art is a more popular hobby among billionaires worth $5 billion or more than it is among billionaires whose net worth is under $5 billion. Wealth-X reports that 35.8% of top-tier billionaires are interested in art, compared to 19.6% of billionaires worth between $1 billion and $5 billion.

6. Education

Bill Gates shares what he's reading. Bill Gates Foundation

Chinese billionaires are more interested in education than other billionaires. According to Wealth-X, 25.4% of Chinese billionaires are interested in education. Meanwhile, education does not rank among the top five passions of American billionaires, German billionaires, or billionaires at large.

5. Real estate

George Soros has several homes, including this Southampton estate where the billionaire hosted his 80th birthday party in 2010. Screenshot via Bing Maps

Not only is real estate a major hobby among billionaires, it's also an industry that's responsible for a lot of their wealth. According to Wealth-X, 7.6% of billionaires worldwide work in real estate. Only finance and industrial conglomerates employ more billionaires — 20.7% and 13.1% respectively. 

4. Politics

Billionaire Michael Bloomberg served 12 years as mayor of New York City. Getty Images

While some billionaires, including Michael Bloomberg and Howard Shultz, have run for public office, more billionaires participate in politics through donations. Financier George Soros and hedge fund managers Tom Steyer and Donald Sussman are major funders of the Democratic party, according to CNN.

3. Aviation

Richard Branson poses alongside Virgin Australia staff. Don Arnold/Getty

According to Wealth-X, 26.4% of billionaires across the globe are interested in aviation. Flying is most popular among American billionaires: 45.2% of billionaires in the US are aviators. Aviation doesn't rank in the top five hobbies of Chinese and German billionaires.

2. Sports

Facebook founder Mark Zuckerberg loves to run. Facebook

Golf is billionaires' favorite sport, according to Wealth-X, with 28.2% of billionaires worth $5 billion or more and 26.9% of billionaires worth less than $5 billion being fans.

Soccer is also popular among billionaires, but like golf, it is more popular with top-tier billionaires. 

1. Philanthropy

Bill and Melinda Gates are renowned for their commitment to philanthropy and their charitable work through the Bill & Melinda Gates Foundation. Wikimedia Commons

Philanthropy is billionaires' overall favorite hobby, with 52% of the world's billionaires making charitable donations in 2018. Education is their preferred cause according to Wealth-X, followed by social services and the arts. 

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