Which Career Fields Are Most Common Among The Ultra-Rich (Net Worth Over $5 Million)
From healthcare to manufacturing and even consumer services, while ten-digit fortunes can be forged in any sector — there are some industries that give you better odds at making the ultrawealthy people list. Research firm Wealth-X analyzed its database of thousands of very high-net-worth individuals across the globe with net worths over $5 million to see how they made their money.
The best industry for building billions: Banking And Finance
More than 22.6% of wealthy people made their fortunes working in Banking And Finance. This includes Brazilian billionaire banker of Lebanese origin Joseph Safra (net worth: $20 billion), Indian billionaire banker Uday Kotak (net worth: $10.1 billion), Singapore’s banking tycoon Wee Cho Yaw (net worth: $5.1 billion), Tan Sri Dr Teh Hong Piow (net worth: $4 billion), and Jamie Dimon (net worth: $1.2 billion).
The principle here is simple: making money for others, especially people who already have a lot of money, can lead to huge fortunes.
Business and consumer services offer another path to prosperity. More than 16% of wealthy people made their fortunes working in business and consumer services. Non-profit and social organizations follow closely behind with over 7% of wealthy people work for nonprofits full time.
You could also follow in the footsteps of The Donald and go into real estate. It’s the 4th-largest source of wealth among the ultrarich, 5.4% of wealthy people made their money in real estate.
See below for the full list of top ultrarich-producing industries worldwide and the 10 most successful industries.
- Banking and finance: 22.6%
- Business and consumer services: 16.3%
- Non-profit and social organizations: 7.9%
- Real estate: 5.4%
- Healthcare: 4.9%
- Technology: 4.7%
- Manufacturing: 4.1%
- Hospitality and entertainment: 4.1%
- Construction and engineering: 3.9%
- Food and beverages: 3.8%
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