Average billionaire loves yachts, private jets, arts; has four homes

London, Nov 10: An average billionaire has four homes, with each one worth nearly USD 20 million, and the most common luxury holding for them is yachts, followed by private jets and art, says a survey.

Globally, 87 per cent of billionaires are male and the average wealth of billionaires is USD 3 billion, while the average wealth of a female billionaire is slightly higher than that of the average male at USD 3.2 billion, according to the Wealth-X and UBS Billionaire Census 2013.

An average billionaire has two children. Fifteen per cent of all billionaires have four or more children. One middle- eastern billionaire has a staggering 24 children!

The average billionaire is worth USD 3 billion with a liquidity of 18 per cent, equal to USD 545 million in cash and other liquid assets per person, suggesting that the old mantra of "cash is king" remains as relevant as ever.

A breakdown of the average billionaire wealth shows that 42 per cent of their net worth is in private holdings, 35 per cent in private common stock, 18 per cent in cash and others, 3 per cent in real estate and 2 per cent in luxury assets, the report added.

When it comes to education, 68 per cent of billionaires have at least a bachelor's-level degree, above national averages in even the most educated countries.

Harvard University has the largest pool of billionaire alumni. The UK's Cambridge University is the only institution in the top 10 list from outside of the US.

Billionaire hotspots such as Singapore, Switzerland and Hong Kong are the most favoured destinations for the ultra-rich.

The total luxury holdings(excluding real estate) of the world's billionaires is estimated to be USD 126 billion, or an average of USD 58 million per billionaire.

"Billionaires' biggest luxury holding is yachts, followed by private jets, art, and other categories including antiques, fashion, jewellery, and collectable cars," the report said.

The richest and most powerful group of people in the world, move in tight social circles and many congregate year after year at the world's most exclusive events, usually known for their glamour, extravagance, political significance, or all three.

These range from the likes of the annual World Economic Forum at Davos, Switzerland, where wealthy business and political leaders meet to shape and improve the state of the world, right through to the yearly Cannes Film Festival, synonymous as a fabulous melting pot of the world's glitterati.

PTI