10 Most Likely Industries that can make you a billionaire
Hello viewers, welcome to our channel and thanks for watching this exciting edition
of the top 10. If you’re not subscribed yet, you’re missing a lot. So, please make
sure to subscribe and click on the notification button to be notified every time we upload
a video. We know that you viewers are ambitious people
and we are sure that some of you are planning on how one day you will 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 are talking about joining
the ranks of these lucky people with 10 figure bank balances, the world’s billionaires.
We know it’s one of the reasons why you’re subscribed to this channel.
Mind you, being a worker, investor or partner in any of these industries doesn’t guarantee
that you will become a billionaire. They just happen to be the industries which have most
of the world’s billionaires. But today’s video is even more closely connected
than usual with the hot topic of how to become a billionaire. Because we have done our homework
and found what business sectors most of the world’s billionaires earn 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 the countdown and you’ll find out which industry
takes the number 1 spot and you’ll also get to hear some insider tips to where these
industries are 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.
10. Engineering 4% of billionaires 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 has 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 bag less vacuum cleaner, and since then he’s branched out to a range of other appliances
including washing machines and hand driers. And thanks to these pieces of savvy engineering,
he’s worth 16 billion dollars making him UK’s richest individual. If you’ve got
an idea that is 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
does not have any. 9. Media and entertainment
People will always want to be entertained. Music, films, TV, computer games, YouTube
channels, fashion, reading or whatever form of entertainment people dream of 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 make their money in this field. And if social media means if you’re
an entertainer, it’s never been easier to create a platform and brand yourself. People
who made their billions from entertainment include Oprah and Jay-Z and they both demonstrate
that for entertainers to get to 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.
8. Energy 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 from energy. Like oil tycoon John D. Rockefeler and once again
4% of today’s billionaires come from this sector. We all consume energy, so this isn’t
likely to change. What will change is the type of energy we consume. The booming next
sector in the near future is bound to be renewable energy, the world is becoming greener out
of necessity. Besides, renewable energy is cheaper and unlike oil and 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 between 5% and 20% in the next few years. Elon Musk has invested
heavily in solar with tesla’s subsidiary solar city. There is also huge potential for
people who can come up with innovative solutions and other renewables like wind power, hydropower
and geothermal as well as ecofriendly energy storage systems.
7. Fashion You may not have guessed the fashion industry
was such a heavy hitter. But think about it and it makes sense. Clothing is more than
just a basic necessity. We are happy to spend money so we can wear something that makes
us look and feel 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 and branded goods at the weekend.
Also factor in that successful designers can make huge markups. That’s because fashion
items are priced by their perceived value more than the cost of the commodities or real
differentiation with other brands. If you hit on the right formula, there’s a 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 other familiar names like Georgio Armani,
Dominic Dolche and Stefano Gabanna.
6. Healthcare 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 10-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 knowhow and the drive, you can make
waves in this industry no matter where you’re from.
5. Retail Whether we do it online or we do it the old
fashioned way in brick and mortar shops, we all need to keep on buying stuff one way or
another. So it’s no wonder that this takes a high place on our list, accounting for 6.5%
of billionaires. Keep in mind they’ll probably produce fewer billionaires in the future.
That’s because billionaires in this sector are heirs to fortune 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 Albretch 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 in
business services which we’ll be hearing more about later.
4. Food and Beverage Whatever is happening in the world, we will
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 to figure out noble
ways of producing food, or preparing and distributing it. People on the super-rich list in this
field include Erist fortunes, including members of the forst and Heineken families. But there
are also quite a few selfmade billionaires in this group like Thailand’s Dhanin Chearavanont
who expanded his father’s chicken soup shop into a farming empire worth 15 billion dollars.
China’s Zong Qinghou who made his money through bottle drink giant Wahaha and is now
worth 12 billion dollars. Or Mexican American Daniel Lubetzky who created the first KIND
bar getting his inspiration from eating a whole fruit and not bar on a business trip
to Australia. He’s now worth 1.2 billion dollars.
3. Tech and business services 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 much more. And of course our private lives
depend on tech too to be entertained, to chat, to shop or to hail a write share and 9% of
billionaires have made their fortunes in tech. And if that number is going to change, it’s
probably going upwards. New software and hardware’s being developed and making previous versions
absolutely obsolete, faster than ever and with the arrival of 5G and the opportunities
it’ll 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 payment company,
Stripe. The key is to look ahead at the technology that’s arriving, or about to arrive, and
to see what opportunities open 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 the augmented reality. As well as an area that crosses over with the field we mentioned
earlier, telemedicine.
2. Real estate Not only does this industry fulfill our basic
need for shelter with 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 is little wonder that huge amounts of money can be made in
real estate. With 9% of the world’s billionaires belonging to this industry. There are several
parts into it. You could start off as a real estate agent or you could set up a construction
firm 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 in
the skies of other American real estate moguls like Stephen Ross, 7.6 billion or Donald bratt,
16.4 billion dollars or any of the world’s 5 highest players in real estate who are from
china or Hong kong. Topped by Xu Jiayin who’s worth 37 billion dollars. 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 markups in recent years have been in real estate.
1. Banking and finance Think of any hugely successful company in
any industry. Behind that success, there was somebody who knew exactly how to deploy the
money and 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. 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 ventured capitalists. Warren buffett is
known by many as the world’s greatest investor and with a net worth of 90 billion dollars.
He is currently the fourth richest person in the world.
Well viewers, that a wrap for today. But of course we would love to hear what you think.
Which industries do you think will produce the most billionaires in the next 20 years?
Let us know in the comments and because you stuck with us until the end, of course we’ve
got your bonus. So you’re thinking of becoming a billionaire, maybe you’re thinking the
best way is to choose one of these industries and work really hard right? Well, probably
wrong. Sure, strategically speaking, these areas do have the highest chances of turning
people into billionaires. But remember, 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
and spot a need that nobody else is addressing. Remember, most of the people we mentioned
in this video probably didn’t start out with the aim of becoming a billionaire and
we’re sure you don’t need us to spell it out for you. There are only around 2000
billionaires in the world at the moment. That’s roughly ¼ million of the world’s population
and of the self-made ones, it’s safe to say they all did two things: first, they followed
their passions. You’ll never be motivated enough to put
in the long hours and you’ll never have those stroke of genius insights you’re going
to need unless you’re passionate of the field you are 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 you’ll make it as a billionaire.
But it might just take you most of the way there. Thank you for spending some time with
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