The world’s richest families are adopting these 7 key habits for success, according to JPMorgan
If you dream of one day joining the billionaires club, the best place to start may not be business school, but rather your local book club.
Reading is the habit most often cited as being linked to the success of some of the world’s richest families, according to a new report from JPMorgan that surveyed more than 100 billionaire executives whose collective net worth exceeds $500 billion.
The wealth management company found that exercise, regularity and getting up early are also key factors in long-term success. But throughout the interviews, one theme dominated: the extreme intentionality of how time is spent.
“The currency of life is time,” an anonymous billionaire family head wrote in the report. “It’s not money. You think carefully about how you spend a dollar. You should think just as carefully about how you spend an hour.”
Forget an MBA: Dust off a book if you want to become a billionaire
In a technology-driven age, where tools like ChatGPT can summarize hundreds of pages in seconds, sitting down with a book can seem inefficient. But many of the world’s most successful business leaders have long argued the opposite: Extensive reading remains one of the fastest ways to gain lasting knowledge.
Microsoft co-founder Bill Gates considers reading the backbone of his learning routine. At one point, Gates said he read about 50 books a year to stay intellectually sharp.
“It’s one of the main ways I learn, and has been since I was a kid,” Gates said. The New York Times in 2016. “These days, I also have the opportunity to visit interesting places, meet scientists and watch many online lectures. But reading is still the main way for me to learn new things and test my understanding.”
The best book he had ever read at the time was Business adventures by John Brooks, the first book that Warren Buffett recommended to him after their meeting.
Buffett, for his part, is also an avid reader.
“I read and I read and I read,” Buffett replied when asked how he keeps up to date with what’s going on in the world. “I probably read five to six hours a day. I don’t read as fast now as I did when I was younger, but I read five daily newspapers, I read a fair number of magazines, I read 10Ks, I read annual reports and I read a lot of other things.”
His advice to future business leaders is ambitious: read 500 pages every day.
“That’s how knowledge works. It accumulates, like compound interest. You all can do it, but I guarantee few of you will.”
The Top 7 Habits That Contribute to the Success of the World’s Richest Families
- While reading
- Exercise
- Consistency
- Wake up early
- Prioritize tasks
- Goal setting
- Deep reflection time
According to JPMorgan’s latest keynote discussion report.
How the ultra-rich spend their free time
Although reading is cited as a major factor in long-term success, it’s not how most ultra-wealthy families prefer to spend all their free time.
In the JPMorgan report, reading ranked seventh among hobbits and top interests say they are most passionate about outdoor activities, spending time with family and friends and even work itself.
Top 10 hobbies or interests that rich families are passionate about
- Outdoors and nature
- Work
- Time with family and friends
- Tennis
- Snow sports
- Golf
- While reading
- Gym and workout
- Fishing
- Cycling and biking
This gap highlights a key distinction: while reading may not be the primary pastime, its value means it is treated as a strategic discipline, a trend that is likely to become even more notable as AI reshapes the way information is consumed.
The use of AI is already widespread among the ultra-rich. Nearly 8 in 10 business leaders said they use AI in their personal lives, and 69% said they use it in their business. In a world where access to information is easier than ever, it may be more important than ever to be intentional about how you learn and how you spend your time.
JPMorgan’s 2026 Book List “to inspire big thinking and bold exploration” reflects this focus. Recommendations include Bobbi Brown’s memoir, Always BobbiAndrew Ross Sorkin’s story of the Wall Street crash of 1929, and Air Jordan, a look at Michael Jordan’s successes in the business world.
