64 days ago
How did the world’s wealthiest people make their money?
(A hint: for most, it wasn't in tech.)
Here are the industries, according to Forbes, that have created most of the world’s billionaires:
Finance and investments created 310 billionaires (14% of the total)
Fashion and retail created 235 billionaires (11% of the total)
Real estate created 220 billionaires (10% of the total)
Manufacturing created 207 billionaires (9% of the total)
Technology created 205 billionaires (9% of the total)
“Diversified” created 194 billionaires (9% of the total)
Food and beverages created 165 billionaires (7% of the total)
Healthcare created 134 billionaires (6% of the total)
Despite how fashionable tech has been for many years, it only comes in at number five.
However, eight of the wealthiest 20 people in the world are tech founders, including the world’s youngest self-made billionaire – the 28-year-old John Collison (of Stripe).
Unlike tech, most people don't associate the top-four billionaire-generating-industries with creating instant wealth.
About a third of billionaires inherited their wealth.
The Money Show’s Bruce Whitfield interviewed Warren Ingram (Galileo Capital Personal Financial Advisor) for his weekly personal finance feature.
For more detail listen to the interview in the audio below.
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
This article first appeared on 702 : How the world’s richest people made their breathtaking fortunes
Personal finance expert Warren Ingram on the money values that those "worth" R40 million or more almost invariably have in common.
16 days ago
Ray White interviews Thobelani Maphumulo, author of "Invest Your Way to Wealth".
29 days ago
But your beliefs and fears about money may be holding you back, says Certified Financial Planner Kim Potgieter.
34 days ago