Saturday, October 24, 2020

Stats Gate

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.

  1. Banking and finance: 22.6%
  2. Business and consumer services: 16.3%
  3. Non-profit and social organizations: 7.9%
  4. Real estate: 5.4%
  5. Healthcare: 4.9%
  6. Technology: 4.7%
  7. Manufacturing: 4.1%
  8. Hospitality and entertainment: 4.1%
  9. Construction and engineering: 3.9%
  10. Food and beverages: 3.8%

Have you read?

World’s Most Expensive Countries To Live In.
World’s Best Countries For Health Care Systems.
World’s Happiest Countries.
Countries With The Highest Life Expectancy.

Dr. Amarendra Bhushan Dhiraj
CEO and editorial director of the CEOWORLD magazine, an extensively kudized author, noted journalist, syndicated columnist, and ostensible entrepreneur. Follow him on Twitter, Facebook or connect on LinkedIn.