Everyone has once in their life searched about the industries that make the most billionaires in the world. All those easy money-making schemes that sound too good to be true. From affiliate marketing to multi-level marketing, you have hundreds of gurus trying to lure you into giving them money for teaching you ‘how to make money’.
Well, I’m sure you have heard that when something sounds too good to be true, it usually is. And such is the case for these “easy” money-making schemes as well.
They require effort, time and trying to convince a lot of people to join in. It involves becoming a full-time salesperson. So, if you are willing to put in the hours why not put it on something that not only will help you earn money but build valuable skill sets that will help you through your life.
5 Industries That Make The Most Billionaires In The World
Tech- The Behemoth Of Them All
You must be living under a rock if you haven’t heard of Google or Microsoft. “Big Tech” or the technology sector is where it peaks. The tech industry is broad engulfing all those companies that provide Software As A Service (SAAS) such as Microsoft’s Windows or Apple’s iOS, including the semiconductor and IT services industry. Tech also covers Platform As A Service (PAAS) or the better known ‘Cloud computing’ functionality.
Servers designed to improve security and scalability to an extent previously unknown to mankind. Gigabytes of data space is now available to people around the world, up to a certain extent for free. Amazon Web Services or AWS is the major revenue earning vertical for Amazon Incorporated. With an overall market capitalization of over $10 Trillion, Tech forms the biggest chunk of the world economy. Market capitalization is a fluid number though and moves depending on the share prices of companies each day.
But the gist is, Tech is limitless. Everytime you think that nothing can go beyond the innovation that we have in the market currently, a new disruptive technology changes the world and adds a new name to the list of the world’s billionaires. One can only imagine how much money the tech industry of the world will churn out in the coming years. If you aspire to make it to the list of world’s billionaires, tech is the first choice that should pop in your head.
Banking and Financial Services- Number Games For Big Numbers
Another big sector based on the overall market cap is the banking and financial services sector, one of the industries that makes the most billionaires in the world. Banking forms the backbone of any country’s economy and helps play a vital role in the regulation and utilization of funds. Banking includes public and private banks, NBFCs (Non-Banking Financial Companies), banking services such as deposits and loans and other ancillary services, capital markets and insurance. Capital markets are broad and encompass private equity funds, investment banking services including IPO (Initial Public Offering) and FPO (Further Public Offering) and many other services.
Having said that, it is needless to explain that a venture of money will only result in money. Getting your number game straight and making financial innovation your playground, it won’t be long until you make your first billion. Of course, becoming a billionaire is definitely not even close to cakewalk so no matter what industry you choose, you can’t make it if you lack exceptional dedication, consistency and vision.
Healthcare- Creating Billions Out Of Utility
The healthcare sector includes those private and public institutions that provide healthcare services, manufacture of medical equipment and drugs, medical insurance or provide any services that facilitate healthcare to patients. Healthcare is approximately a $8 trillion sector. In the US, healthcare alone accounts for a fifth of the Gross Domestic Product (GDP).
The industry is now also surpassing national borders moving patients and services across international borders. International medical tourism is a $44 billion industry, with patients travelling for diagnostic and under-the-knife treatments and operations for cost benefits and technology reasons to countries like Germany, Turkey, Israel and even India.
Some of the richest people in the world have made their fortune by providing better health service in whatever form to the world. And this makes the Healthcare industry one of the top picks among all the industries that churn out the maximum number of billionaires in the world.
Telecommunication sector- Future Is Limitless
Reliance’s Jio platform is estimated to be worth over $26 billion and boasting more than 400 million users – according to figures in 2019. Telecommunication and the supporting infrastructure industry are also a major money-making industry. An industry that sees large scale mergers & acquisitions taking place. A sector estimated to be worth over $5 trillion, telecommunication is backed by ever-expanding technological and infrastructural capabilities, supported by technological developments in communication networks and satellite technologies.
Telecomm is supported by space exploration advancements too. Recently, Elon Musk headed SpaceX, launched Starlink satellites to low Earth orbit supported by on-ground transceivers. The competition will hype up again as 5G licenses will start to be auctioned, with iPhone 12 releasing 5G capability phones recently.
Human race will never stop communicating and with massive advancement of technology, it will only amplify with every generation.
Consumer Discretionary- Leveraging High-End Lifestyle
Consumer discretionary is a term for classifying goods and services that are considered non-essential by consumers, but desirable if their available income is sufficient to purchase them. Examples of consumer discretionary products can include durable goods, high-end apparel, entertainment, leisure activities, and automobiles.
Currently, the consumer discretionary market is a gold mine because people are inclining towards a high-end lifestyle with the increase in income. To testify the fact- the world’s richest woman in 2020, Francoise Bennetcourt Meyers is the chairperson and billionaire heiress of L’Oreal, the world leader in cosmetic and wellness products.
Billion-dollar industries to watch out for in the future
As a prudent investor, you want to also invest in sectors that encompass these sectors. Try to invest in Mutual Funds that cover companies in these sectors. Apart from these sectors, there are many sectors to watch out for in the future. The renewable energy sector is estimated to be over $900 Billion and expected to reach $1.5 Trillion by 2025. It is certainly a sector to watch out for in the future.
Solar Energy companies are starting to expand into cities and private schools, powering entire airports (Cochin International Airport). So, if you want to be the next Mukesh Ambani, Elon Musk, or Jack Ma, stick to these sectors and develop the skills required to enter these markets. The scope is massive and the scope for growth is endless. You already have your options laid for the top industries that make the most billionaires in the world.