Contrary to popular belief, the wealthy do not typically invest in real estate or life insurance to build their wealth. Instead, they tend to hold the majority of their wealth in business interests and investments. This may come as a surprise to the middle class, who often believe that these types of investments are the key to wealth.
A great chart visualizing this is available at Visual Capitalist. It breaks down by Net worth and Asset allocation. Where do the wealthiest put their money. In businesses and investments.
The lower your Net worth is, the larger real estate is of the overall Net worth.
Net worth versus Asset allocation