The report highlights the spending patterns of the world’s ultra high net worth individuals (UHNWI)-those with investable assets of at least $30 million-from the property they purchase to the size of their yachts. And while it’s no surprise that UHNWIs like expensive things, the report does reveal a few unexpected details.
If you had near-endless amounts of money, what would you spend it on? Every year, global real estate consultancy Knight Frank and real estate firm Douglas Elliman dig into this question and compile the answers in The Wealth Report, which was unveiled in New York this week.
Indeed, for the first time since 2010, wealthy folks have spent more money on art than “investment grade wine”, which topped last year’s Knight Frank Luxury Investment Index. The index ranks the investment performance of ten asset classes, from diamonds to stamps. Here’s how they stack up: