Sports, cars and art. Three passions that set the pulse of the investments of the richest families in the world. According to the latest “2025 Principal Discussions Report” prepared by JP Morgan 23 Wall, a top-tier private banking division targeting only the biggest fortunes on the planet, 34% of investment portfolios include assets related to sports teams or stadiums, 23% to works of art and 10% to cars, with 75% of respondents diversifying their investments on a global scale.
The study highlights that families with greater purchasing power seek investments that transcend mere profitability, also betting on significant commitment, legacy and social impact. “Passion and purpose are as important as profit in today’s wealth management landscape,” the report concludes.
“Ownership has evolved from a hobby to a sophisticated business and unifying force for families, offering both financial returns and opportunities for community impact. Even luxury items, once intended solely for enjoyment, are now sometimes used as collateral to cover liquidity needs,” explains Andrew L. Cohen, executive chairman of global private banking at JP Morgan.
Indeed, for the majority of the 111 billionaires interviewed – from 28 countries and more than 15 sectors – the concept of wealth has been redefined: “true wealth” is measured less by financial capital and more by the legacy of values, relationships and impact it leaves behind.
Geopolitical tensions, the main risk for great fortunes
When it comes to risks facing the world today, 63% of high net worth individuals identify geopolitical tensions as their top concern. Many of them, according to JP Morgan 23 Wall, highlight the growing risk of global conflict, while others highlight market volatility, climate change and the disruptive potential of artificial intelligence (AI).
These global risks are intertwined with personal and social concerns, from the future of work and wealth inequality to the impact of technology on families and communities.
“In response, families are strengthening structured and diversified strategies to protect and grow their wealth,” says Natacha Minniti, director of 23 Wall International and global co-head of the Family Office practice at JP Morgan Private Banking.
The report states that the majority of the very rich prefer to have a professional committee to advise or guide them, but without losing the final say. Regarding diversification, one of the interviewees stated that wealth is acquired through concentration on one activity, but that it is maintained through it. Most families look at both the stock market and private investment options, often focusing on the former, real estate or fixed income. Over promises of quick profitability, they value stable, low-risk options. “There’s nothing wrong with traditional, boring investing,” one respondent said.
However, many respondents express enthusiasm for AI’s ability to save time and support better decision-making, although some are more cautious, highlighting the continued need for human judgment and context.
In line with this, 79% of participants say they use AI for everyday tasks, from research and writing to travel planning or creative tasks, such as creating personalized stories or designing plans for new projects.
