We know that you Aluxers are ambitious people
and we’re sure that some of you are planning how one day you’ll be able to afford luxuries like your own private jet or super-yacht.
Or employing a full-time housing staff, and maybe even buying a sports team for good measure.
Yes, we’re talking about joining the ranks of those lucky people with ten-figure bank balances — the world’s billionaires.
We know it’s one of the reasons why you’re subscribed to this channel.
But today’s video is even more closely connected than usual with the hot topic of how to become a billionaire.
Because we’ve done our homework and found out what business sectors most of the world’s billionaires earned their big bucks in.
In other words, the industries that are most likely to give you access to this elite group.
So, stick with us until the end of our countdown, and you’ll find out which industry takes the number one spot.
And you’ll also get to hear some insider tips into where these industries will be heading in the coming years.
So, without any further ado, let’s get some inspiration and look at the 10 Most Likely Industries That Can Make You A Billionaire.
come from this sector.
And to join them, basically, you’ll need to design a piece of engineering wizardry that can solve a problem that nobody’s addressed before.
One that’s clever enough to disrupt an entire sector of the market.
A case in point is James Dyson, who invented the world’s first bagless vacuum cleaner.
And since then he’s branched out to a range of other appliances, including washing machines and hand-dryers.
And thanks to these pieces of savvy engineering, he’s worth $16 billion, making him the UK’s richest individual.
If you’ve got an idea that’s smart enough, and the know-how to see it through to completion,
you could even do it without any formal qualifications in engineering.
Believe it or not, James Dyson doesn’t have any.
People will always want to be entertained.
Music, films, TV, computer games, YouTube channels, good old-fashioned reading, or whatever forms of entertainment people dream up in the future.
These are always going to be a big part of our lives.
So it shouldn’t come as a surprise that 4% of billionaires made their money in this field.
And social media means that if you’re an entertainer, it’s never been easier to create a platform to brand yourself.
People who made their billions from entertainment include Oprah and Jay Z.
And they both demonstrate that for entertainers to get into the ranks of the super-rich, it helps to branch out from your core activity.
In Oprah’s case, publishing, and in Jay-Z's, fashion.
For a long time, this has been one of the surest ways to get wealthy.
In the early days of the modern economy, many of the first super-rich made their fortunes in energy — like oil tycoon, John D. Rockefeller.
And 4% of today’s billionaires come from this sector.
And we all consume energy, so this isn’t likely to change.
What will change is the type of energy we consume.
And the boom sector in the near future is bound to be renewable energy.
The world’s becoming greener out of necessity.
Besides, renewable energy is cheaper, and unlike oil or gas, it’s unlimited in supply.
They don’t call it renewable for nothing. Solar is the fastest-growing energy source.
It now contributes less than 1% of the world’s energy needs.
But it’s expected to increase to between 5% and 20% in the next few years.
Elon Musk has invested heavily in solar, with Tesla’s subsidiary SolarCity.
There’s also huge potential for people who can come up with innovative solutions in other renewables.
Like wind power, hydropower and geothermal, as well as eco-friendly energy storage systems.
You may not have guessed that the fashion industry is such a heavy hitter.
But think about it, and it makes perfect sense.
Clothing is more than just a basic necessity.
We’re happy to spend money so we can wear something that makes us look good.
And for a lot of people, one of the biggest motivations for putting in long hours, is to be able to splash out on some high-end branded goods at the weekend.
Also factor in that successful designers can make huge mark-ups.
That’s because fashion items are priced by their perceived value more than the costs of commodities, or real differentiation with other brands.
If you hit on the right formula, there’s huge potential to make big bucks.
The fashion industry has produced 5% of the world’s billionaires, including Nike founder, Phil Knight.
As well as familiar names like Giorgio Armani, Ralph Lauren, Domenico Dolce and Stefano Gabbana.
Of course, one of our most basic needs is to stay healthy.
And we pay huge amounts of money on it. Whether directly on health bills, through taxes, or on health insurance,
a large portion of this money makes its way into the bank balances of 6% of the world’s billionaires.
And it’s no surprise that the pandemic has lifted more people in this industry up to billionaire status.
And sure, being a doctor can make you wealthy. But billionaire? Probably not.
The real potential for a ten-digit bank balance is in the pharmaceutical industry.
Or designing innovative medical devices, or founding a chain of private hospitals or clinics.
The top end of the world’s super-rich in healthcare is taken mostly by owners of pharma companies,
with five of the top ten spots being occupied by Chinese billionaires.
But with other players on the list from the USA, Germany, Switzerland and India, if you’ve got the know-how and the drive,
you can make waves in this industry wherever you’re from.
Whether we do it online or whether we do it the old-fashioned way, in bricks and mortar shops, we’ll need to keep on buying stuff one way or the other.
So, it’s no wonder that this takes a high place on the list, accounting for 6.5% of billionaires.
Keep in mind that it will probably produce fewer billionaires in the future.
That’s because most billionaires in this sector are heirs to fortunes that were built up over a long period of time.
Like the seven members of the Walton family, heirs to the Walmart fortune.
Or the Albrecht family, who inherited the Aldi business empire.
And what about the sector that’s taking it over?
Online retail giants, like Amazon, are classed as tech and business services — which we’ll be hearing more about later.
Whatever’s happening in the world, we’ll always need to eat and drink.
And currently around 8% of the world’s billionaires come from a food or drink background.
To become one of them, you’ll have got to figure out novel ways of producing food, or preparing and distributing it.
People on the super-rich list in this field include heirs to fortunes – including members of the Mars and Heineken families.
But there are also quite a few self-made billionaires in this group.
Like Thailand’s Dhanin Chearavanont, who expanded his father’s chicken seed shop into a farming empire worth $15 billion.
China’s Zong Qinghou, who made his money through bottled drinks giant, Wahaha, and is now worth $12 billion.
Or Mexican-American Daniel Lubetzky, who created the first KIND bar,
getting his inspiration from eating a whole fruit and nuts bar on a business trip to Australia.
He’s now worth $1.2 billion.
Whatever the sector of the economy, nowadays it relies on tech.
Businesses use it to do transactions, to communicate their message to the public, for distribution and logistics, and for much more.
And of course, our private lives depend on tech too.
To be entertained, to chat, to shop or to hail a ride-share.
And 9% of billionaires made their fortunes in tech.
If that number’s going to change, it’s probably going to go upwards.
New software and hardware is being developed and making previous versions obsolete faster than ever.
And with the arrival of 5G and the opportunities it will bring, it looks like this is going to keep on accelerating.
It’s the field that most of the world’s most famous billionaires belong to: Elon Musk, Bill Gates, Mark Zuckerberg, and the world’s richest person, Jeff Bezos.
And it’s a boom area for young billionaires.
The list of self-made billionaires under 30 years old are mostly in tech.
They include Evan Spiegel, founder of Snapchat.
And John Collison, founder of online payments company, Stripe.
The key is to look ahead at the technology that’s arriving, or about to arrive, and see what opportunities it opens up.
Big areas that are likely to produce billionaires in the coming years include AI, the Internet of Things, self-driving cars, Virtual Reality and Augmented Reality.
As well as an area that crosses over with a field we mentioned earlier — telemedicine.
Not only does this industry fulfill our basic need for shelter.
With the population growing, it’s going to be even more in demand.
And keep in mind that for most of us, buying the place where we live will be the biggest transaction we make in our life.
So there’s little wonder that huge amounts of money can be made in real estate, with 9% of billionaires today belonging to this industry.
There are several paths into it. You could start off as a real estate agent.
Or you could set up a construction firm or be a supplier of construction materials.
Of course, most of Donald Trump’s fortune is in real estate.
Although his slightly-over 2 billion-dollar fortune isn’t a patch on the likes of other American real estate moguls
like Stephen Ross – $7.6 billion – or Donald Bren – $16.4 billion.
Or any of the world’s five highest players in real estate, who are all from China or Hong Kong, topped by Xu Jiayin, who’s worth $37 billion.
But wherever you’re from, if you’re savvy, and have a bit of luck along the way, this is a great way to make a fortune,
as some of the largest mark-ups in recent years have been in real estate.
Think of any hugely successful company, in any industry.
Behind that success there was somebody who knew exactly how to deploy money and then grow it.
And thanks to their investment choices, they didn’t just make that company a success — they also grew their own wealth big-time.
And banking and finance produced 15% of the world’s billionaires today.
Some of them made it as private investors. Others from setting up investment firms.
And others as venture capitalists.
Warren Buffett is known by many as the world’s greatest investor, and with a net worth of 90 billion dollars, he’s currently the fourth richest person in the world.
Well Aluxers, that's a wrap for today.
But, of course, we would love to hear what you think!
Let us know in the comments.
And because you stuck with us until the end, of course we've got your bonus.
Maybe you’re thinking the best way is to choose one of these industries and work really hard, right?
Well, probably wrong.
Sure, statistically speaking, these areas do have the highest chances of turning people into billionaires.
But remember that the world’s billionaires come from a wide range of business areas.
And if we’re talking about a formula to become a billionaire — as if there’s a simple formula for that
— you can be sure it doesn’t involve randomly picking an industry from this list.
A much better solution is: Go with your passions.
Remember, most of the people we’ve mentioned in this video probably didn’t set out with the aim of becoming billionaires.
And we’re sure you don’t need us to spell it out for you.
That’s roughly one in four million of the world’s population.
And of the self-made ones, it’s safe to say that they all did two things.
You’ll never be motivated enough to put the long hours in, and you’ll never have those stroke-of-genius insights you’re going to need,
unless you’re passionate about the field you’re in.
And second — once you know what you’re passionate about, you need to spot a need for something that nobody else has figured out before.
Following these steps can’t guarantee that you’ll make it as a billionaire.
But it might just take you a good part of the way there.