Earning a billion-dollar fortune doesn’t happen overnight. It often takes years if not decades of continuous hard work, wise business decisions, and sheer ambition.
So, if you’re dreaming of becoming one someday, then you’d have a long and difficult road ahead of you.
One way you can shorten the journey is by choosing to go in a field that has created the most millionaires and billionaires. Lucky for you, the research company Wealth-X has compiled a list of such industries.
Healthcare and Pharmaceuticals
This one may not come as a surprise. After all, the world will always be in need of healthcare services and products.
Some of the wealthiest business executives in this sector are Ernesto Bertarelli, the richest person in Switzerland, BMW heiress Susanne Klatten, and the United States’ Sackler family.
All of them have stakes in successful pharmaceutical companies. For example, Bertarelli’s family owned Serano, which has since been sold to the Merck Group.
Real estate development is another lucrative venture to get into. Case in point is billionaire Stephen Ross, who built his $7.7 billion fortune developing office parks, condominiums, and retail spaces across America.
Another great example is Roger Staubach who went from playing professional football to developing apartment complexes and shopping centers through his company, Kroenke Group. He is currently worth $600 million.
Business and Consumer Services
This sector is a particularly wide one. But if you’re looking for the best of success stories, you may want to learn about how billionaire Stephen Bisciotti created his staffing agency Aerotek.
Bisciotti began running the company from his basement with the help of a cousin. About three decades later, it’s now an industry leader providing workers to a variety of companies in the aerospace and defense industries.
By its name alone, you’d think that there’s not much money to be made in creating nonprofits. And you’d be right.
However, a lot of already wealthy people go into this sector because of their passion for doing charity work or helping other people. Bill Gates and his wife Melinda are a great example of such charitable billionaires.
Banking and Finance
Banking and finance have created more high net worth individuals than any other industry.
Some of the most successful people working in the sector are hedge fund manager Ken Griffin, who has a fortune of $10 billion, and Icahn Enterprises founder Carl Icahn, who is worth $18 billion,