Growing Your Money
What do the rich do to grow their money so much? Do they have an inheritance and are just plain lucky? Or are they self-made? Where have they invested their money to become billionaires? Zippy Opinion would like to take you on a journey to find out which sectors and industries the rich (both inherited and self-made) have made money in. Here are the industries in which the rich made their money:
Investments
The best way of getting rich—for both self-made and inherited billionaires—is investing. And it shouldn’t be a total surprise that investments are the most common and arguably easiest way for billionaires to make their money.
As investors, they earn money across the board—manufacturing, healthcare, food, tech, etc.—they aren’t limited to any one industry. As long as you know how to pick the right companies to invest in, you can make a fortune through investments.
For example, look at Warren Buffet. Instead of running a business like Microsoft, Apple, or McDonald’s, he has devoted nearly his entire life to picking the best stocks and trade investments. He does it extremely well, which is why he is now one of the richest people in the world.
Technology
It’s no surprise that technology is the second most common way billionaires make their money. The speed and scale at which technology can reach and affect people globally allow someone to generate wealth in ways that were not possible decades ago.
Microsoft might not seem as trendy as it used to be back in the 90s. But back then, Windows was the biggest thing around since the invention of the wheel and made Bill Gates one of the richest people in the world.
In today’s world, tech companies like Google and Facebook are changing the way we practically live our everyday lives. Google kicked off as a research project at Stanford in 1996, and Facebook started in 2004 as a closed network for Harvard students before morphing into the multi-billion-dollar giants they are today, making their founders exceedingly rich. Facebook founder Mark Zuckerberg was, for the longest time, the richest person under 30. (He’s a little too old for that now!)
Real Estate
It’s no surprise that technology is the second most common way billionaires make their money. The speed and scale at which technology can reach and affect people globally allow someone to generate wealth in ways that were not possible decades ago.
Microsoft might not seem as trendy as it used to be back in the 90s. But back then, Windows was the biggest thing around since the invention of the wheel and made Bill Gates one of the richest people in the world.
In today’s world, tech companies like Google and Facebook are changing the way we practically live our everyday lives. Google kicked off as a research project at Stanford in 1996, and Facebook started in 2004 as a closed network for Harvard students before morphing into the multi-billion-dollar giants they are today, making their founders exceedingly rich. Facebook founder Mark Zuckerberg was, for the longest time, the richest person under 30. (He’s a little too old for that now!)
But if ruling the tech world isn’t your thing, you can still make it big in other ways. In Singapore, two brothers started an online coupon deal site called Beeconomic way back in 2010 with life savings of ₹36 lakhs. Six months later, their business was bought over by the largest coupon deal site in the world for a reported ₹174 crores—and it is now Groupon, one of the biggest coupon sites globally!
You may have heard of the mobile game Flappy Bird, which, in early 2014, was the most downloaded free game in the iOS and Google Play stores worldwide. If you haven’t played it, you probably saved yourself from destroying your phone in a rage. But even if you did, the creator, Dong Nguyen, didn’t really mind—he was making ₹37 lakhs per day in ad revenue from the game, until he decided that he’d made enough money and removed it from the app store!
Fashion and Retail
If beautiful people and beautiful clothes are more your thing, then fashion and retail might be right down your runway. Billionaires on the Forbes 400 who made their fortunes in this industry include entrepreneurs like Jin Sook & Do Won Chang (founders of Forever 21) and Amancio Ortega (founder of Zara), all of whom are among the richest people in the world today.
Fast fashion is growing rapidly among millennials and Gen Z. There’s only going to be more hype about it and investing in it now could be a smart move. Once post-COVID shoppers flood malls again, the market may boom.
Sports
If you like a little more excitement and awe in how you make your millions (or billions), then investing in sports teams might be your cup of tea. Imagine knowing that your entire business model hinges on a bunch of sweaty millionaires winning a game of football, baseball, cricket, or hockey. (Just kidding! Sort of.)
Sports entertainment is growing rapidly, and it’s a worthy place to start if you’re aiming for big.
Win—and watch fans lap up ticket price hikes, overpriced merchandise, and new jersey designs every season with fanatical pomp. Lose—and watch faithless fans call for your head as profits plunge. But hey, what better way to make a billion, right?
Food & Beverage
Food is a necessity. That’s how McDonald’s became one of the biggest companies in the world—even though its burgers never seem to rot!
Today, not only is McDonald’s wildly profitable, but those who were smart enough to secure a franchise early on are fantastically rich, thanks to our endless appetite.
Even if you missed the McOpportunity, many food entrepreneurs have made it big by launching their own F&B businesses. It’s not the easiest industry to break into, thanks to high competition. But again—everyone’s gotta eat!
Energy
If your dream is to live like the oil sheikhs in the Middle East, parading around in a gold-plated car with a tiger in the passenger seat, then energy might be the industry for you.
The world is addicted to energy. It’s no surprise that some of the world’s largest companies—Exxon Mobil, PetroChina, Royal Dutch Shell, and of course Saudi Aramco—are energy giants.
That said, the global shift toward cleaner, more sustainable energy makes this a tricky space to enter right now. It’s probably not the best time to start drilling for oil.
Still, if you pull off a success story like Roman Abramovich (who used his energy wealth to buy Chelsea FC), then owning a football team might just become your version of pocket change.
Healthcare
If you develop a drug that cures cancer or HIV, you might become the richest person in history. Even if not, creating the next major pharmaceutical breakthrough could get your company acquired for a hefty payday.
You could also follow in the footsteps of Jonas Salk, who gave the world the polio vaccine for free—trading unimaginable riches for global health.
In today’s post-COVID world, we’ve seen how essential the healthcare and pharma industries are. They’ve helped people recover, get vaccinated, and return to a semblance of normalcy.
The pharmaceutical sector has received a massive boost in recent years—and continues to be one of the most profitable and impactful industries around the world.
To Wrap It All Up in a Bill
The best way to make money is to find a gap in the market, create a solution, and offer it to people. Easier said than done, of course. The planning and execution involved are massive and often underestimated.
But if you’re the first to create something great—and see it through with passion—you might just become super-rich!
Before that, why not start small by earning a little extra on the side? Check out our blog: Do Online Surveys Really Help in Paying off Debt?
We hope you loved Zippy Opinion’s blog on how the rich made their money. What do you think about it? Let us know in the comment section below.
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