There are only 2,325 billionaires in the world, controlling 4% of the world’s wealth. While their sources of wealth vary, with 13% of them who inherited their fortune, 27% from re-investment and 60% self-made, they do have something in common. If you’re hoping to be the 2,326th billionaire someday, find out if you have what it takes to be one.
A good head for investment
Investing is one of the best ways to grow your wealth, but you have to invest wisely if you want to see excellent returns. Well, most billionaires generate their wealth from 5 primary industries. These are (1) finance, banking and investment, (2) industrial conglomerates, (3) real estate, (4) textiles, apparel and luxury goods, and (5) non-profit and social organizations. Although there is money to be earned in almost all industries, some are just better than others. So take a cue from billionaires who have been there and done that.
A net worth of $3 billion
If you already have $1 billion, don’t get too excited just yet. You still have a long way to go to actually become a part of an exclusive worldwide billionaires’ club. But with the right financial strategy, you’ll get there. And don’t worry about not coming from a wealthy family to begin with. As already mentioned 60% of the billionaires in the world made worked to get to where they are now, which means you’re chance may not be too far away.
An amazing amount of patience
The average billionaire is 63 years old, which only shows that becoming one takes a long time to achieve. If you lack the patience to wait and grow your fortune, you might as well let go of your dream. Then again, good things rarely come when you are in a hurry, so might as well take your time. All things considered, achieving billionaire status is no easy feat.