Billionaires tend to make riskier investment choices than millionaires, and it helps explain why ultra high net worth individuals lost so much of their money in 2018

Millionaires were less negatively affected than billionaires during last year's stock market meltdown, a report from Capgemini found. Billionaires lost 7% of their collective net worth last year, according to Wealth-X's 2019 Billionaire Census. Billionaires' investment choices may be to blame. Billionaires gravitate toward riskier investments than low-level millionaires, Capgemini's Chirag Thakral told Business Insider. Visit Business Insider's homepage for more stories.

Millionaires were less negatively affected than billionaires during last year's stock market meltdown, a report from Capgemini found. Billionaires lost 7% of their collective net worth last year, according to Wealth-X's 2019 Billionaire Census. Billionaires' investment choices may be to blame. Billionaires gravitate toward riskier investments than low-level millionaires, Capgemini's Chirag Thakral told Business Insider. Visit Business Insider's homepage for more stories.

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It also explains why they are billionaires and not millionaires.

Makes sense though right. More to play with, less to lose.

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