What does it take to become a billionaire? Some say it takes a billion-dollar business idea. Others say that “to become a billionaire” is just a dream for most people. The thigs is that no matter how crazy it sounds, it is possible for people with nothing to become billionaires. If you have the right background, necessary experience, perfect timing, and an out of this world dose of luck, you could become a billionaire someday. What does being a billionaire mean?
What is a billionaire?
A billionaire is a person with a net worth of $1 billion (1,000,000,000 i.e. a thousand million) or more.
How many billionaires are there in the world?
In 2020 there are almost 2100 billionaires in the world.
Which country has the most billionaires?
No country has more billionaires than the United States. China has the second most billionaires in the world. This makes sense as the two largest economies in the world are the United States and China.
What percentage of the population is a billionaire?
Only about 1 in 4,000,000 people in the world are billionaires
How did most billionaires get rich?
Key fact here: Most billionaires didn’t inherit their wealth? Most people who became billionaires invested their money into public holdings. Many people have become billionaires by investing in private holdings and liquid assets.
How much total wealth billionaires have?
The total combined wealth of all billionaires in the world is more than $9 trillion.
Now that you know how many billionaires there are in the world, you should also know that money makes money. But is that all to it? Not necessarily. It all depends upon where the money is invested. There are many investment options in the marketplace to hit the jackpot, but not to forget that there are always risks associated with it as well. You should consider all investments as a small business and pay attention to it. This includes doing research, hiring people to handle tasks for you, and putting up aims.
What are the paths to become a billionaire?
Let’s consider stocks while going into this business can make you a billionaire overnight; it can also cause you to go bankrupt. In fact, since 1980, around 40% of stocks have dropped down to 70%. That’s a huge percentage. To be on a safe side, you need to consider it a business. Do your research and find companies with future potential. Hire a finance or stock market expert to provide you with tips and reduce risk so that you are among the people who make money.
Let’s talk about real estate, which isn’t any different. About 27% of Americans believe that investing in real estate property is the best option to make money, while 17% think that investing in stocks is a better option. Real estate is on the rise, but it can backfire as well. Remember the 2008 crisis?
The thing is that these kinds of investments offer a do or die situation. One can either wear a billionaire’s crown or lose everything they have.
Let’s have a look at four investments that can make you a billionaire or leave you broke:
Can you become a billionaire with stock picking?
First things first: You are not going to become a billionaire by playing the stock market or by trying to time the market. It is true that many become billionaires owning stocks. The people who become billionaires aren’t stock pickers. They are entrepreneurs who build companies that eventually become publicly traded companies.
Stocks are shares that give partial ownership (in percentage) of a company or asset. However, you might not have certain rights unless you own a specific percentage of shares. When the economy is in a growing stage, stocks rise. This is because when companies begin to earn well, the demand increases, and so does their market value.
Stocks have a 10% return per year on average. This means you get to make 10% of profit for the number of shares you bought. However, that’s if everything goes smoothly and your shares don’t drop drastically. You have success stories such as that of Warren Buffett, who credits stock for his wealth.
However, there’s a drawback, too. Companies do not always grow. They can default as well and go bankrupt, and when it happens, you lose all your investment, so make sure to always be careful about investing in stocks.
This involves buying a property in your name. It is considered to be the fastest way to becoming a billionaire as the owner gets to have all the profit money earned.
Real estate can be bought for both long and short-term gains. You can earn monthly rent on your property and then eventually sell it when the prices rise. However, again, there is a risk.
When you think of real estate, you need a huge investment, but not always. You do not have to buy your own property. If you have links, you can be an agent and help others buy and sell and earn a commission on every successful sale.
However, remember that prices can go down anytime. Look at the condition in the UK, Brexit caused the real estate market to nearly crash, causing many people to lose their investment.
Forex or CFD trading is a risky business that works largely on the guessing game. CFD, shortened for contract for difference, is all about guessing if the prices of a specific item would go up or down, and you win or lose money based on it.
This may sound like an odd business, but many people are making money through this, as CFD trading has turned into a business now. You can put your own money or start investing it for others and earn a commission.
CFD trading is available on different assets, including stocks, commodities, and even currencies. The benefit is that you do not really own an asset here, so it removes the need for permissions and red tape. You only bid and then wait for the price to change.
Another benefit is leverage trading, where you can buy assets worth more than your original investment. This is great because if there is a profit, you can earn more; however, the risk is that if you lose money, you may lose all of it.
CFD trading comes with many risks, but it does have the potential to change your life.
Digital currency is gaining immense popularity these days. Satoshi Nakamoto started it with the invention of Bitcoin, and now we have hundreds of other currencies. In fact, Facebook is also expected to come up with its own cryptocurrency.
While the potential is there, the crypto market is among the riskiest markets out there since the prices are not regulated. Consider Bitcoin, it hit a high of $19,783 in December but quickly crashed to $6,000. Those who got out at the right time laughed all the way to the bank while some are still repenting.
If you know cryptos, you can start this business. The world is huge. You can make money by investing your own money or investing it for others and earning a commission. You can also start a firm and provide others with tips on how to invest in cryptos.
Square, one of the biggest companies out there, recently entered the crypto space by starting to offer crypto trading on its platform. You, too, can come up with something like this.
These five the most popular ones that hold great value on the market, but make sure to invest carefully. You can check out platforms like Investors Hangout for some killer business ideas to make sure your venture finds success.
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