The average billionaire is married and worth £1.79bn with a preference for property in London according to a survey published in the Guardian this week.
According to high-end estate agency Beauchamp Estates and Dataloft who conducted the survey, there are more than 2,170 billionaires globally, with a combined net worth of £3.88tn, up from £1.85tn in 2009. 60% are self-made billionaires, 20% had inherited wealth and the rest had a combination of part-inherited, part-made fortunes.
Alongside football clubs and fine art, property in London was found to be high on the list of must-haves for those with millions in the bank. The research states that 67 billionaires were living in the city, making it the most popular ahead of Paris with 25 and Geneva with 18.
The typical billionaire holds £50m or more in real estate and has four homes. A property portfolio would typically include a £22.3m mansion in London; an £18.6m holiday home on the French Riviera and a £12.1m estate in Tuscany, alongside another luxury pad, perhaps somewhere more far-flung.
Gary Hersham of Beauchamp Estates said: “We advise UHNWIs [ultra-high net-worth individual] buying homes in London and around the Mediterranean to set aside budgets of typically £50m to acquire the right properties. The research found that the world’s wealthiest individuals hold an average of 42% of their wealth (£750m) in private holdings; 35% (£626m) in publicly-held companies; 18% (£322m) in cash; 3% (£54m) in residential real estate and 2% (£35m) in luxury assets such as artwork, yachts and private jet travel.
The research is based on property data from Beachamps and Lonres and information from a Wealth X/UBS Bank study of billionaires.