by Contributing Author
Wealth-X, the research firm, published a 2020 Billionaires Census report where they analyzed the database of people all over the world whose net worth is more than $1 billion and checked how they made their money. As per their research, here are the top 11 career fields most common amongst the billionaires.
Banking and finance
As per the Wealth-X research report, there are more ultra-wealthy people who work in finance and business than in any other industry. Jamie Dimon, CEO of JPMorgan Chase, is one of the 19.8% of the wealthy people who are worth more than $5 million and have made their wealth by working in the financial sector. Many top investors are also now looking at cryptocurrency.
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Industrial conglomerates
According to Wealth-X, industrial conglomerates account for about 12.8% of the billionaires in the world. Warren Buffet was able to make his $72.7 billion fortune by making an investment in a wide range of businesses. Some of his investments include the fast-food staple Dairy Queen and insurer Geico, which have been assembled into his conglomerate Berkshire Hathaway.
Real estate
The report states that about 7.6% of all wealthy people have made money by working in the real estate market. Stephen Ross is America’s wealthiest real-estate developer who has a total net worth of $7.6 billion.
Gaming
The gaming industry is gaining popularity, especially in the online casino field. Gaming companies as well as game developers are in the top of the list of most wealthy companies in the world. However, it is not only companies that are blooming. Players are also considered successful in the field. Tony Bloom, a billionaire, is one of the top names in poker and sports betting. Richard Tyler Blevins, gamer name Ninja, is the richest gamer in the world with a net worth of $17 million.
Food and beverages
About 5.7% of all the wealthy people made their ultra wealth from food service. Daniel Lubetzky, the creator of KIND bar, made his fortune of 1.2 billion dollars by selling snacks and bars.
Healthcare
As per the data provided by Wealth-X, about 5.7% of the wealthy people who have made more than $5 million money are from the healthcare industry. The richest person in Switzerland, Ernesto Bertarelli, net worth $18.1 billion, has a stake in Serono, a pharmaceutical company.
Manufacturing
According to Wealth-X, 5.6% of all the wealthy people have made their fortune through the manufacturing sector. One of these is Diane Hendricks, who runs window and siding producer and roofing for ABC Supply, which has made her a fortune of $7.8 billion.
Technology
When it comes to the billionaire’s club, some of the most popular members are tech billionaires such as Mark Zuckerberg, Bill Gates, and Larry Page. But overall, there are only a few wealthy people who have made such a huge amount of money through the technology market. There are only 5.6% of all the wealthy people who have made a net worth of more than $5 million through tech.
Non-profit and social organizations
As per Wealth-X, about 4.9% of all wealthy people work full-time for non-profits. Initially, many of them made their fortune elsewhere, such as Bill and Melinda Gates.
Hospitality and entertainment
About 4.5% of individuals with a high net worth got rich by working in the field of hospitality and entertainment. Guy Laliberté, the former street performer, transformed his circus troupe based in Montreal into a multibillion-dollar entertainment empire, Cirque du Soleil. It started with just an art grant of $1 million and is now a $1.2 billion fortune.
Textiles, Apparel, and luxury goods
Fashion is the field that has the least number of billionaires- only 4.3% wealthy individuals. However, the ones who have found success in fashion have become quite wealthy. Two of the top 15 richest people – co-founder of Zara, Amancio Ortega and chairman of Louis Vuitton owner LVMH Bernard Arnault, made their wealth in fashion.
