Top 5 traits of billionaires, according to science

The HBO series Succession portrays the life of a mega-rich family and the complex relationships between its members. Although a work of fiction, the series raises interesting questions about the relationship between wealth and the personality traits of billionaires.

Psychologists have conducted studies to understand character traits commonly associated with extreme wealth.

The main traits of a billionaire

The study conducted by researchers from the open university and the Norwegian School of Management investigated the relationship between wealth and various aspects of personal life. To that end, more than 3,200 participants were asked about their valuable physical assets, property and other personal investments.

Around 10.8% of participants earned £75,000 or more a year, while 23.7% had a household income of less than £20,000. This data was then analyzed in conjunction with the 'Big Five' personality traits: openness to experience, conscientiousness, agreeableness, extroversion, and neuroticism.

The survey results revealed a positive correlation between the level of awareness and wealth of the participants, indicating that richer individuals tend to have a greater sense of responsibility.

Participants with greater wealth were less likely to be neurotic, suggesting that more stable financial status is associated with lower levels of anxiety and stress. However, participants with lower income were identified as more extroverted.

The researchers emphasize that the average person tends to be more impulsive in their financial decisions, such as purchasing more expensive items or making hasty investment decisions when compared to billionaires.

Professor Fenton-O'Creevy points out that this study only represents a "snapshot in time" and that understanding personalities and their effect on finances is a complex picture.

It highlights the need for further research to explore the contextual factors that may modulate these relationships and potentially explain contrasting findings. This suggests that there are still more details to be discovered by science.

The five common traits of the richest:

• They demonstrate more responsibility and organization, with a heightened sense of conscience;
• Tend to be less impulsive about spending, with reduced levels of neuroticism;
• They show less inclination towards excessive generosity, being generally less friendly;
• They are less prone to new experiences, valuing ownership more;
• They are less extroverted, with a greater tendency to make profitable investments.

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