Why do rich people like to play golf?

According to a survey in 2021 by the Wealth-X Research Institute, golf is the most popular sport for the rich. Data shows that 18.6% of people with assets between 5 million and 30 million USD prefer to play and watch golf.

Football, sport sport most popular in the world, ranked second with 11.6% of people choosing. However, Wealth-X notes that wealthy individuals often watch and rarely play the king sport.

Skiing, known for its luxury and exclusive resorts favored by the rich, came in third with 10.9% of choices.

The result is not surprising when golf has long been dubbed a “rich sport” or “a sport only for the elite”.

Golf is considered a sport for the rich. Photo: Ian MacNicol.

Age of the rich

Golf originated in Europe and specifically Scotland, then spread to Great Britain. Initially, this was a white men’s sport, but now it has become popular with all those who can afford to buy expensive equipment and clothes.

Golf is more a test of feeling and skill than fitness, so players can still be at their best in their 50s and 60s.

The average age of a golfer in the US is 54. Some PGA Tour players have continued to play into their late 40s and even early 50s.

Professional golfer Fred Couples continued to perform well into his 50s. Darren Clarke won the 2011 Open at the age of 43.

Golfers can still be at their best in their 50s and 60s. Photo: AFP.

Very few rich people are at their peak physically. The average age of millionaires in the US is 62 and the world is 57.

Therefore, in terms of age, golf brings more advantages to the rich than sports that require strength such as football, baseball, rugby, tennis, skiing… “Mind is what ruins more shots than physicality.” Tommy Bolt has accumulated experience after many years of playing professional golf.

Barriers to entry

Golf apparel and equipment, especially the high-quality, exclusive ones, come at a hefty price tag.

The Asian Sports, golf clubs are expensive because they are made of durable materials. Additionally, a lot of research is done to ensure the product can deliver consistent, non-damaging shots to the shoulder.

Golf apparel is increasingly diverse and expensive. Photo: Kolon FnC.

In addition, the cost of joining golf clubs is not cheap. The fee to join Augusta National Golf Club (Georgia, USA), the premier golf club with Warren Buffett and Bill Gates as members, is at $250,000-500,000, according to Forbes.

To get used to golf, players also have to pay for introductory courses or hire a professional instructor.

All these costs make golf a hard-to-access sport and is defaulted to only the high-income group.

Social status

Due to the high cost of entry compared to other sports, golf has been associated with money and social status.

In fact, even people who don’t necessarily play golf still sign up for club memberships to be seen as economically well off.

Not only that, being a member of an exclusive or expensive golf club comes with a higher social status. Some places are even invite-only, with close connections to the elite.

Members of playing clubs are usually business people, people working in the financial sector, investors, CEOs, politicians, celebrities.

Many wealthy individuals play golf not because they love this sport, but just want to connect, exchange, and open up business cooperation opportunities with other rich people.

Many people come to the golf course not only to play sports but also to expand relationships and discuss business. Photo: RgStudio.

Competition and challenge

In golf, competitive advantage is often more about technique and experience than physical prowess. At the same time, the sport is both strategically and emotionally challenging. These things make the rich feel like they have an edge in the game.

The beauty of golf is that everyone plays against himself. It completely reflects the way the rich think and approach in business as professional golfer Percey Boomer once said: “If you want to hide your personality, never play golf.”

Also, rich people tend to be super competitive and they hate losing. With golf, no one is directly stopping you from doing what you want.

Golf is more of a personal sport. Rich people often have busy schedules, but with golf, they don’t need to coordinate with friends and can be proactive about practice time.

Golf is a sport that is both strategically and emotionally challenging. Photo: istock.com

Safe

The golf course is also a place to relax. Those are large plots of land, stretching like a green oasis, fresh air, away from the hustle and bustle of the city.

Unlike cycling and skiing (sports enjoyed by the rich after golf), the probability of getting injured while playing golf is extremely low.

According to Zing