Which job has the most billionaires?
What industry has the most billionaires? Among the findings are that banking and finance remains the biggest industry for global billionaires with around one fifth having this as their primary industry.
Finance and investments remains the surest way to get ultra-rich. It's the industry with the highest number of billionaires, 372, including hedge fund and private equity tycoons, bankers, venture capitalists and fintech founders.
In 2022, banking and finance was the industry to which the highest share of the world's billionaires across all age devoted most of their time. Moreover, one fifth of the billionaires below 50 years devote most of their time to technology.
- Pilot.
- Actuary.
- Computer network architect.
- Air traffic controller.
- Petroleum engineer.
- Lawyer.
- Physicist.
- Computer and information systems manager.
| Name & Rank | Net Worth (in $ Billions) | Source of Wealth |
|---|---|---|
| #1 Elon Musk | $245.1 | Tesla, SpaceX |
| #2 Bernard Arnault & family | $196.9 | LVMH |
| #3 Jeff Bezos | $168.2 | Amazon |
| #4 Larry Ellison | $145.3 | Oracle |
CEOs, CFOs, and other high-level corporate leaders are compensated handsomely for their leadership and decision-making skills . In large companies, executive compensation packages can exceed $1 million per year, making this career path a lucrative one.
I spent five years studying and interviewing 233 millionaires to learn about their habits and the way they think. Work was a big topic: 51% were entrepreneurs, 28% had traditional 9-to-5 jobs, and 18% were senior-level executives at large companies.
1. Engineering. Coming in at the top is engineering - which might surprise you, but the scope of engineering is huge and widening all of the time. 22% of the world's top 100 billionaires studied some kind of engineering.
| # | Country | Percentage Change (vs. 2021) |
|---|---|---|
| 1 | United States of America | 1.52% |
| 2 | People's Republic of China | -29.08% |
| 3 | India | -28.69% |
| 4 | Germany | -7.35% |
Further, a second study by Fidelity Investments found that 88% of all millionaires are self-made, meaning they did not inherit their wealth. The Fidelity study also revealed that self-made millionaires' top sources of assets were investments/capital appreciation, compensation and employee stock options/profit sharing.
What jobs pay $1 million a year?
A wide variety of jobs can put you on track to becoming a millionaire, including familiar jobs like actuary and airline pilot, and less-familiar ones, like reservoir engineer. Many of these jobs require only a bachelor's degree, and none demand more than a master's.
Some of these jobs include investment bankers, surgeons, and CEOs of major corporations. However, there are a few other jobs that make a million or more per year that are not as well-known. One such job is a professional gambler.
| OCCUPATION | 2022 MEDIAN PAY | PERCENTAGE INCREASE OVER NATIONAL MEDIAN |
|---|---|---|
| Chief Executives | $189,520 | 309.20% |
| Orthodontists | $174,360 | 276.50% |
| Computer and Information Systems Managers | $164,070 | 254.30% |
| Architectural and Engineering Managers | $159,920 | 245.30% |
Tim Cook (CEO of Apple) uses an iPhone. Elon Musk (CEO of Space X and Tesla) uses an iPhone. Bill Gates (founder of Microsoft) uses an iPhone and an Android phone (and confessed in an interview that he preferred his Android phone).
- The Walton family with $224.5 billion.
- The Mars family with $160 billion.
- The Koch family with $128.8 billion.
- The Al Saud family with $105 billion.
- The Hermès family with $94.6 billion.
- The Ambani family with $84.6 billion.
- The Wertheimer family with $79 billion.
Currently, no one has yet claimed trillionaire status, although some of the world's richest individuals may only be a few years away from this milestone.
- Actor. National average salary: $24,126 per year. ...
- Author. National average salary: $49,616 per year. ...
- Accountant. National average salary: $62,394 per year. ...
- Insurance agent. National average salary: $64,020 per year. ...
- Investment banker. ...
- Professional athlete. ...
- Entrepreneur. ...
- Hedge fund manager.
Hertz CEO Stephen Scherr, Peloton CEO Barry McCarthy, Sarepta Therapeutics CEO Douglas Ingram, and Pinterest's new CEO Bill Ready round out the list. Still, fewer CEOs broke the $100 million threshold in 2022 than did so the year before. Over 20 CEOs earned over $100 million in 2021, notes C-Suite Comp.
$300,000 Feels Like A Middle-Class Income
Psychologically, earning $300,000 feels OK because it puts the household in the top 10% of household income earners. But making $300,000 feels like a middle-class income due to how little cash flow is left. A household needs to earn $470,000+ to be in the top 1% in 2022-2023.
Real estate investment has long been a cornerstone of financial success, with approximately 90% of millionaires attributing their wealth in part to real estate holdings. In this article, we delve into the reasons why real estate is a preferred vehicle for creating millionaires and how you can leverage its potential.
What is a good salary to live rich?
Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.
79% Of Millionaires Are Self-Made — Lessons From Those Who Built Wealth Without Inheritance. Recent studies have shown that the notion that most millionaires are born into wealth is a myth. Recent studies have shown that the notion that most millionaires are born into wealth is a myth.
| Rank | University | Number |
|---|---|---|
| 1 | University of Pennsylvania | 29 |
| 2 | Harvard University | 28 |
| 2 | Stanford University | 28 |
| 4 | Yale University | 21 |
Passion and Purpose Alignment: Billionaires align their pursuits with their passions and purpose. They deeply understand what drives them, allowing them to channel their energy into ventures that align with their values and bring them immense joy.
The answer is economics. Elon Musk graduated with a Bachelor of Science in Physics, but he also has a Bachelor of Arts in Economics. Steve Cohen, Meg Whitman, and Bob Kraft all studied economics in college.
