The majority of high networth individuals (10m+) have their largest positions in real estate.

https://www.cnbc.com/2019/12/19/heres-where-the-wealthiest-investors-are-finding-opportunities.html?utm_source=www.google.com

The break down is 29% in real-estate, 24% in private equity, 21% in public equity and the rest in fixed income (10%), cash (12%) hedge funds (3%) and commodities (1%).