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Survey: The Wealthy Don't Like Talking About Wealth

By    |   Thursday, 06 March 2014 01:21 PM

Wealthy people apparently enjoy making money a lot more than they enjoy talking about it.

A global survey of people with investable assets of more than $1.5 million conducted by financial advisory firm deVere Group shows that 61 percent called personal finances the most difficult subject to discuss with family, friends and colleagues.

Politics placed second at 14 percent, followed by sex at 11 percent, religion at 8 percent and health at 6 percent. The deVere Group polled 1,125 of its clients in the United States, Great Britain, Hong Kong, the United Arab Emirates and South Africa.

"For many, wealth comes with plenty of intense emotions so perhaps it’s little wonder that even the better off prefer to discuss almost anything else. Money is the last social taboo, it would seem," deVere Group CEO Nigel Green said in a statement.

"I think the survey’s findings suggest that there is perhaps some degree of misplaced guilt or embarrassment surrounding money by those who have accumulated it, despite the fact that high-net-worth individuals are typically likely to be society’s primary wealth and job creators and major tax contributors."

More people around the world are finding their way into extreme wealth, according to the latest annual wealth report from London-based property manager Knight Frank.

The report shows that the number of global billionaires increased 80 percent over the last decade to 1,682, according to The New York Times.

The amount of people with $30 million or more in net assets rose by 59 percent to 167,000. The $30 million and up category gained 5,000 new members last year.

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Wealthy people apparently enjoy making money a lot more than they enjoy talking about it.
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2014-21-06
Thursday, 06 March 2014 01:21 PM
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