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Becoming a Billionaire: 10 Industries that Produced the Most Wealthy People

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Key Points

  • Some sectors produce a lot more ultrawealthy people than others.
  • While some have become billionaires working in the food and beverage sector, a lot more people become extremely wealthy in healthcare.
  • Nearly one in four people with a net worth over $5 million work in banking or finance.
  • Visit The Financial Today’s homepage for more stories.

History is full of people who have turned different ideas into billion-dollar businesses. However, not all industries are made equal. Some sectors produce more billionaires than others.

As a part of its 2020 Decade of Wealth report, research firm Wealth-X analyzed its database of thousands of people across the globe with net worths over $5 million to see how these people made their fortune.

The top 10 industries that produced more ultrawealthy people are as follows, according to the Wealth-X report:

10. Food & Beverages

Based on the Wealth-X report, a mere 3.8% of wealthy people made their fortunes in food & beverage industry.

9. Construction & Engineering

Only 3.9% of ultrawealthy individuals built their wealth in the construction and engineering sectors.

8. Hospitality & Entertainment

The hospitality and entertainment sectors produced 4.1% of ultrawealthy individuals in the past decade according to the same report.

7. Manufacturing

Manufacturing products also produced 4.1% of ultrawealthy people in the past decade based on the same report.

6. Technology

Although we often hear news about technology billionaires, the industry only produced 4.7% of ultrawealthy people in the past 10 years.

5. Healthcare

In the past decade, 4.9% of wealthy people came from the healthcare industry.

4. Real Estate

The real estate sector produced 5.4% of ultrawealthy individuals in the past 10 years.

3. Non-Profit & Social Organizations

Interestingly, non-profit and social organizations sit on the third spot of the list with 7.9% of ultrawealthy people coming from the said sectors.

2. Business & Consumer Services

16.3% of ultrawealthy individuals came from the business and consumer service industries, according to the Wealth-X report.

1. Banking & Finance

Sitting on top of the list, the banking & financial sectors produced 22.6% of ultrawealthy individuals in the past decade.

Although it will not guarantee success, turning an idea into a billion-dollar business in one of these industries could significantly increase your chances of making it.

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