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What Industry Creates the Most Millionaires?

A majority of millionaires and billionaires are self made through entrepreneurship. Most of them have invested in different industries that have helped them make a fortune. Finance and investments is the industry with most millionaires. We are going to find out what industries create the most millionaires. 

If you want to become a millionaire, then you need to consider investing in such industries. However, deciding where to invest is what confuses many people. As such, we decided to look at some of the industries that have created the most millionaires where you too can invest.

What Industries Create the Most Millionaires? 

The following are some of the industries that have made the most millionaires. As such, if you also want to become a millionaire, consider working or starting a business in these industries.

1. Finance and Investments

393 billionaires: 15%

The finance and investments industry is an industry that has made the most millionaires and billionaires. Finance and investments are some of best industries to become a millionaire. Some of the billionaires who have invested in the finance and investments industry include:

  • Warren Buffett- Berkshire Hathaway (Investment company)
  • Ray Dalio – Bridgewater Associates (Asset management)
  • James Simons – Renaissance Technologies (trading hedge funds)
  • John Paulson – Paulson & Co. (Hedge fund manager)

People are looking for ways to grow their money and those who have invested in the industry are reaping big. Some of the best areas to invest in include hedge funds, stocks, bonds, cash, and commodities.

2. Manufacturing

337 billionaires: 13%

Manufacturing is the second industry that is creating a majority of millionaires. Some of the billionaires who have invested in the manufacturing industry include:

  • Li Hejun – Hanergy Holdings (solar, wind, and hydropower generation)
  • Aliko Dangote – Dangote Group (food and cement)
  • Georg Schaeffler – Schaeffler Group (ball bearings)

The manufacturing industry is involved in transforming goods and also repairing and installation of industrial equipment. The demand for manufactured products is high making it one of the best investment industries. 

3. Technology

332 billionaires – 12%

Technology is the other industry that has created the most millionaires. Technology is key in almost all industries and it will continue to grow over time. Some of the billionaires who have invested in the Technology industry include:

  • Jeff Bezos – Amazon (Ecommerce)
  • Bill Gates – Microsoft (microprocessors and software)
  • Elon Musk - Tesla and SpaceX (Making cars and rockets)

Some of the best areas to invest in the technology industry are transport and communication. The demand for transport and communication technology is high as people are looking for better and more modern means of transport and communication.

Also read: What cars do billionaires drive?

4. Fashion and Retail

250 billionaires: 9%

The fashion and retail industry has continued to grow especially with the high demand for fashion and luxury brands. Some of the world billionaires who have invested in fashion and retail include:

Some of the areas you can invest in the fashion industry include the production of raw materials, fashion retailing, textile design and production, and fashion design and manufacturing.

5. Healthcare

217 billionaires: 8%

Health is an essential service and we all need it. That makes healthcare sector one of the best industries to become a millionaire. Everything crumbles when there is a health issue. For instance, economies came to a standstill during the Covid-19 pandemic. Some of the billionaires who have invested in the health industry include:

  • Thomas Frist - Hospital Corporation of America
  • Cyrus Poonawalla - Serum Institute of India
  • Carl Cook - Cook Group

It is worth noting that the health industry is the most regulated of all industries because of its sensitivity when it comes to life.

6. Food and Beverages

203 billionaires: 8%

Food is also another essential part of human life. The world has over 8 billion people and all need food. As such, investing in the food and beverages industry can make you a millionaire. Some of the world billionaires in the food and beverages industry include:

  • Zhong Shanshan – Nongful Spring (bottled water)
  • Bert Beveridge – Vodka
  • Charlene de Carvalho – Heineken

The number of billionaires who have invested in beverages like wine and beer is higher compared to those who have invested in food. So, if you want to become a millionaire, invest in beverages like wine and beer.

7. Real Estate and Construction

193 billionaires: 7%

The real estate and construction industry have also created many millionaires. The demand for real estate properties like land and properties is high. Shelter is one of the necessities in life and is one of the oldest sources of wealth. Some of the world billionaires who have invested in real estate include:

  • Donald Bren – Irvine Company
  • Stephen Ross – The Related Companies
  • Sun Hongbin – Sunac China Holdings

8. Media and Entertainment

109 billionaires: 4%

Many people and billionaires are spending a large chunk of money on entertainment. Besides, the demand for information is high and media companies are making a kill in the industry. Some of the billionaires who have invested in the media and entertainment industry include:

  • Michael Bloomberg – Bloomberg LP
  • Oprah Winfrey – Oprah Winfrey Show
  • William Randolph Hearst – Hearst

People want to stay updated about happenings around the world. As such, if you want to become a millionaire, consider investing in the media and entertainment industry.

9. Renewable Energy

95 billionaires: 4%

With the high cost of energy in the world, most people are moving to renewable sources of energy. People are now investing in renewable energy and it is one of the industries that have created the most millionaires. Some of the billionaires in the renewable energy industry include:

  • Elon Musk – Tesla and SolarCity
  • Fan Hongwei - Hengli Petrochemical Co
  • Robin Zeng - Amperex Technology Limited

Renewable energy is cheaper and its demand is high as many people are looking for ways to cut costs. As such, it is one of the best industries to become a millionaire.

What Industry Has the Most Millionaires? 

Financial services industry has created the most millionaires. That is why there are many fintech coming up every day. Some of the most successful ventures are those behind people growing and developing money. That's the same reason why you will find many rich bankers. 

Summary of Industries with Most Billionaires

The following are industries with their respective number of billionaires:  

Industry Number of Billionaires Percentage
Finance and Investments39315%
Manufacturing 33713%
Technology 33212%
Fashion and Retail 2509%
Healthcare2178%
Food and Beverages 203 8%
Real Estate and Construction1937%
Media and Entertainment 1094%
Renewable Energy 954%

What Company Has the Most Million Dollar Earners?

Wondering what company has made the most millionaires? The following are some of the companies that have produced the most millionaires; Amazon, Apple, Google, Facebook, Primerica, Microsoft and Alibaba. 

Summary of Which Industry Has the Most Millionaires

What industry produces the most millionaires? Financial services industry. It is one of the industries that create the most millionaires. The rest are some other industries that have made the most millionaires. Make sure to do due diligence before investing in these industries. Ensure that you are aware of the risks in the industry and you have the necessary expertise. With all factors in consideration, these are good industries to invest in.

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