Have you ever asked yourself the question: What business can make me a billionaire? The short answer is businesses that make you a billionaire change the world. Before you say that it’s impossible to change the world, think again. There are more than 2,000 billionaires in the world, so not only that it is possible to become a billionaire, thousands have done it before you.
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 thing 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. About 87 percent of all billionaires in the world are men.
How many billionaires are there in the U.S.?
There are 607 billionaires in the United States. Alice Walton is the riches American female billionaire. She is the heiress to the fortune of Walmart, and her net worth is more than $68 billion U.S. dollars. Jeff Bezos, the founder of Amazon, is the richest billionaire in America. Bezos is worth about $145 billion U.S. dollars.
Which U.S. state has the most billionaires?
The state of California is the U.S. state with the most billionaires. One hundred sixty-five billionaires call California their home. The state of New York is in second place with 118 billionaires. And the state of Florida is in third place with 58 resident billionaires.
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.
How many billionaires are there in China?
There are about 800 billionaires in China. Jack Ma, founder and CEO of Alibaba is the richest person in China. Ma is worth over $41 billion.
How many billionaires are there in India?
There are 138 billionaires in India. The richest man in India, Mukesh Ambani, has a net worth about $67 billion.
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 do 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 becoming 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.
How long does it take billionaires to make their first billion?
Even most rich people can only dream of becoming billionaires. But, if you want to know how long it took some of the most famous billionaires to join the billionaire club, check out this list:
- Kyle Jenner – Age 21
- Mark Zuckerberg – Age 23
- Larry Page – Age 30
- Bill Gates – Age 31
- Jeff Bezos – Age 35
- Warren Buffett – Age 56
Do billionaires go to college?
The good news is that you don’t need a college degree to become a billionaire. While the majority of billionaires are college-educated, it is not uncommon for them to drop out of college. Some of the richest people in the world dropped out of college before they could collect their degrees. If you need a little convincing about the value of college education, keep in mind that only about 12 percent of billionaires dropped out of school. Even if you don’t become a billionaire, a man with a college education can expect to earn $900,000 more throughout his career than a high-school graduate. And college-educated women can expect to earn $630,000 more. It’s true that this is not billionaire money, but it still shows the value of a college degree.
The following billionaires have dropped out of college:
- John D. Rockefeller
- Steve Jobs
- Li Ka-Shing
- Mark Zuckerberg
- Larry Page
- Ted Turner
- Sergey Brin
- Michael Dell
- Bill Gates
- Donald Newhouse
- Mickey Arison
- Howard Hughes
- Francois Pinault
- Marc Rich
- Kirk Krekorian
- Ty Warner
- David Murdock
- Sheldon Adelson
- Larry Ellison
- Jack Taylor
- David Geffen
- Ralph Lauren
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.
How to become a billionaire with real estate?
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, 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 U.K., Brexit caused the real estate market to nearly crash, causing many people to lose their investment.
How to become a billionaire through CFD trading?
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 you may lose all of it if you lose money. CFD trading comes with many risks, but it does have the potential to change your life.
How to become a billionaire with cryptocurrency?
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.
Business Ideas to Become a Millionaire
One of the fastest ways to become a millionaire is to have a great idea. Many want to become millionaires but still need to get a business idea. But, all you need to start a business is an idea.
If you are serious about wanting to become a millionaire, you need to start a business you can scale. For example, if you are a web designer and want to start a web design business, you must find a way to scale your business.
For example, you might build one or two websites a month when you start your business. If you charge $5000 for a website, you need to build 200 websites to make $1,000,000. Without scaling your business, it will take years to build 200 websites.
The answer to making millions is in scaling. You need to either charge more or serve more customers. You could charge more than $10,000 for each website you build, but your business will fail if other designers build websites for $5,000.
So, the best option is to sell more websites and build more websites to increase your revenue. Therefore, selling more projects is the best way to grow your business to make millions. If you can sell and build 200 websites at $5,000 each, you will make $1,000,000. It’s that simple.
So, it’s not about business ideas; starting a business you scan scale to become a millionaire.
Jobs That Will Make You A Billionaire
Most jobs won’t make you a billionaire, but there is one. If you can become the CEO of a fast-growing company, you can become a billionaire too.
Now, this may seem impossible to do, but many have done it.
Tips on How to Find a Job to Become a Billionaire
There is no exact formula for getting a job to become a billionaire. Each journey to become a billionaire is different, but there are some commonalities.
To increase your odds of landing a job that one day helps you become a billionaire, consider the following:
Choose a profession that allows you to get quickly promoted. The fastest way to get quickly promoted in a company is to work in sales. Sales is the most highly valued department in most companies. So, if you want to quickly work your way up the corporate ladder, get a sales job and crush it.
Choose the right company. If you join the right company at the right time, you increase your chance of becoming a billionaire. You should seek to work for a startup instead of a well-established corporation. You can grow with the company if you join a fast-growing business with only a few key employees. But if you join a Fortune 500 corporation with 100,000 employees, it will be nearly impossible to stand out.
Always think about positioning yourself for success. Now, this is the part many people don’t have the stomach for because it involves more than hard work. To beat others to the top, you must position yourself for success. It involves corporate politics and forming alliances with other leaders in the company.
Business That Can Make You a Millionaire
Only a business you can scale that can make you a millionaire. The hard fact about business is most of them will never even make one million dollars. And the reason most business owners cannot become millionaires is they fail to scale their businesses.
So, the question is: What kind of business will make you a millionaire?”
Start a business you can easily scale. But, you ask: “What kind of business scales?” Some businesses scale more easily than others. For example, it takes a lot of work to scale a business that offers highly customized services.
Let me give you an example; it’s easier to scale a business that installs air conditioners than one that builds custom homes. When you install air conditioners, you can specialize in a particular brand. Train your staff to work on the same brand of air conditioners. You can also scale your marketing because you are selling the same units.
But, if you build custom homes, every project will be different. The process of building a custom home is slow. Each customer will ask for different custom features and modifications that complicate each project. Therefore, it will be difficult to scale.
So, if you want to start a business that can make you a millionaire, you must think about scale. If you can quickly and inexpensively scale your business, you can become a millionaire.
Business That Makes You Rich Fast
If you start a successful tech business, it can make you rich fast. But starting a business in health, consulting, hospitality, construction, and even retail will make you rich if you succeed.
It’s easier to become rich if you sell products or services to businesses because you can charge more. A business will easily spend thousands of dollars for a service each year. But, you will struggle to charge so much money individual consumers.
So, if you want a business that makes you rich fast, think about starting a B2B business. Let’s say you provide a service that costs $10,000 per year. You only need 100 customers to make $1,000,000. That sounds a lot easier than selling one million of something that costs $1.
But, if you are serious about starting a business that makes you rich fast, you must first do your research. Explore the industry. Understand the competition before you start your business.
How to become a billionaire in 5 years?
If you want to become a billionaire in 5 years, you must understand how quickly you must build wealth to get there.
There are 60 months in five years, so to make $1 billion, you need to make $83,333,333 each month. Does that sound realistic to you? If yes, you are on your way to becoming a billionaire in 5 years.
Now that you know how to become a billionaire in 5 years, it’s time to think about how you will spend all that money.
How to become a billionaire overnight?
Today, the only legit way to become a billionaire overnight is to inherit. In some countries like the United States, you might win the lottery and become a billionaire overnight. But I wouldn’t hold my breath.
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 ensure your venture succeeds.