Rich people play golf because they can afford the financial costs necessary to overcome its entry barriers. In addition, besides being an enjoyable activity, golf provides a certain social status, and it allows them to network with other wealthy individuals. Rich people also tend to have more free time, as nothing is tying them down to a 9-5 job like most people.
Reasons Rich People Play Golf
Have you ever wondered, “Why do rich people like golf so much?” There are several great reasons to love golf. However, it is not a coincidence that it tends to be a sport associated with the wealthy and well-off. Here is why rich people play golf so much.
- They Can Afford to Play It
Golf equipment — or at least quality equipment — isn’t cheap. There are many things to buy, and it can easily cost you a few thousand dollars just for the equipment. Add to that golf club membership fees, and you might understand why sustaining a golf hobby can be too cost-prohibitive for the average person who is not well-off.
Not only that, but to get good at golf, you will need to take some lessons, which can be costly too, especially if you want a good teacher.
2. Golf Provides Social Status
Because of the high costs of golf compared to other sports, golf has become associated with money and status. So, even people who wouldn’t necessarily play golf otherwise sign up for a golf club membership and start playing it. It’s not so much peer pressure as it is a status symbol. If you play golf, many people automatically assume you are well-to-do.
Not only that but being a member of an exclusive golf club or an expensive golf club comes with an even higher social status. A more luxurious golf club comes with higher membership fees, so only the very wealthy can afford them — being a member shows you are part of the “1%.” In addition, some golf clubs are invite-only, so if you’re a member of such a club, it means you have a lot of high-status connections and hobnob with the elite.
3. Golf Gives Them a Chance to Network
Golf clubs usually have many wealthy individuals as members. That includes businesspeople, people working in finance, Wall Street investors, CEOs, and even politicians! Many wealthy individuals who play golf do it not as much for the actual sport but for the opportunity to connect and network with other wealthy people. It never hurts to have connections, and it also gives them a chance to team up with people for business deals.
4. It Is Fun and Enjoyable
Until now, we’ve discussed some reasons rich people play golf that is not related to the actual game. However, there’s no denying that golf is fun for many people. Not everyone enjoys golf, but there is a reason people play it — it can be very exciting.
5. Golf Does Not Require Too Much Physical Exertion
One of the things that can hold wealthy people back from playing sports is that some sports require a lot of physical exertion. The problem is that some rich people are often sitting in offices, having business meetings, and making business calls from their limos all day. All that sitting can make some physical sports hard.
Golf, on the other hand, doesn’t require as much physical exertion. It also doesn’t require players to be in top shape like basketball might. Remember, many wealthy individuals are older. It takes time to build up enough wealth and establish yourself as a tycoon. For most people, it takes several decades of hard work, unstoppable determination, and never-ending dedication and commitment until they amass enough wealth through successful business ventures.
Did you know that the average age of American millionaires is 62? For someone at that age, playing golf makes a lot more sense than playing a sport like baseball. Also, while golf courses are often quite large, it is easy to get around using golf carts.
6. Rich People Have the Time
Many wealthy people play golf simply because they have the time to do so. People who work 9-5 might not be able to go to the golf course during the day. On the other hand, rich people have more flexible schedules.
7. It Gives Them a Chance to Relax
Going to the golf course isn’t just about the actual game. It’s a way to spend a day in a nice environment, away from the hustle and bustle of the city. Golf courses often offer a refreshing oasis of green and quiet, which many wealthy people enjoy.
8. They Can Discuss Business Deals
Sometimes, wealthy people will agree to meet at a golf course to discuss a business venture. It provides a more casual setting where they can talk without any distractions. It also gives two people a chance to bond and strengthen a relationship. When two people can spend some time enjoying a game of golf together, it is easier to work out a deal, smooth over differences of opinion, and develop a plan for success.
9. Golf Is a Safe Sport
Wealthy business people might not be able to afford to risk getting injured and missing out on important meetings, flights to movie premieres, and so on. If they do boxing or martial arts to de-stress, there is a very real risk that they might get injured. Other sports come with risks as well. Golf is a relatively safe sport, with a low risk of injury.
Golf isn’t only popular in the United States. Indeed, rich people play it all over the world, from London to Dubai. In addition to all the reasons mentioned above, many people find golf to be a challenge that works out their mind and body, despite not being as exhaustive as some other sports. There are many reasons to play golf, and regardless of why you play it, it’s always an opportunity to de-stress and have a good time.