The job sectors where most billionaires make their money (2023)

Staff Writer18 April 2022

The job sectors where most billionaires make their money (1)

The Hurun Research Institute has published its Hurun Global Rich List 2022, ranking a new record of 3,381 billionaires whose total wealth regardless of the Russia-Ukraine war and the impact of Covid-19 continued to rise by 4% to $15.2 trillion.

The chief researcher Rupert Hoogewerf said that the Russia-Ukraine war, Covid-19 and the US-China Trade War contributed to 337 billionaires dropping off the list this year, almost one a day.

(Video) 10 MOST Likely Industries That Can make YOU a BILLIONAIRE

“However, continued digitalisation of the economy, tech innovations as well as inflation helped 490 new faces make the list, giving a surprising net increase of 153 billionaires.”

Currently, there are 1,124 more billionaires than there were five years ago – a 50% increase.

Hoogewerf noted that as the world pushes toward the fifth industrial revolution, spurred on by biotech advances and Covid-19, healthcare has become the second most important source of wealth for billionaires after financial services, which overtook real estate.

“Five years ago, healthcare was not even a top five source of wealth,” stressed Hoogewerf.

The table below details the top industries and companies:

RankIndustry/Job sector% of billionaires% of changeRichest personCompany
1Financial Services9.3%11.5%Micheal BloombergBloomberg
2Healthcare8.7%2.2%Cyrus PoonawallaSerum Institute of India
3Real Estate8.1%-8.5%Lee Shau LeeHenderson Land
4Retail7.4%-5.6%Jeff BezosAmazon
5Consumer Goods7.3%-1.8%Bernard ArnaultLVMH
6Food and beverage7.2%-2.9%Zhong ShanshanYST
7Software & Services6.3%-7.7%Steve BallmerMicrosoft
8Media & Entertainment6.1%7.1%Larry Page, Sergey BrinAlphabet
9Industrial Products5.6%14.3%Chen Jianhua & Fan HongweiHengli
10Investments4.8%6.5%Bill GatesMicrosoft

The report further detailed that the following industries boasted stand out years:

  • Renewable energy – led by India-based Gautam Adani.
  • Biotech – led by Germany-based Ugur Sahin of BioNTech.
  • Luxury goods – led by France-based Bernard Arnault of LVMH.
  • Semiconductors – led by US-based Jen-Hsun Huang of Nvidea.
  • Software services – led by Bill Gates and Steve Ballmer of Microsoft.
  • Shipping – led by Switzerland-based Klaus-Micheal Kuhne of Kuhne & Nagel.

According to Hurun, the top three cities in the world for billionaires are all in China: Beijing, Shanghai and Shenzhen, which this year overtook New York for the first time. The cities with the fastest-growing number of billionaires were London, Mumbai and New Delhi.

“China continued to pull away from the USA in the past year, up 75 to 1133 ‘known’ billionaires, compared with the USA, which added 20 to 716,” said Hoogewerf.

The report showed that China’s billionaires were hit hard, with 9 of the 10 biggest wealth shrinkages and 160 drop-offs.

Industries such as e-commerce, real estate, education, generic drugs, and vaping took the hardest hit as a recent Covid-19 outbreak across China and increased tension with the US combined to see the steepest drop in value since the 2008 financial crisis, with many of China’s biggest companies shedding up to half their value.

(Video) The 10 Industries That Mint The Most Billionaires 2022 | Forbes

Read:2 South African billionaires climb global wealth rankings

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The job sectors where most billionaires make their money (16)

The job sectors where most billionaires make their money


What sector are most billionaires in? ›

In 2021, banking and finance was the industry to which the highest share of the world's billionaires devoted most of their time. Over 20 percent of the billionaires devoted most of their time to this industry. Industrial conglomerates followed in second at 9.4 percent, with real estate activities in third.

What jobs make the most billionaires? ›

While there's no exact magic formula to becoming a billionaire, there are certain jobs that seem to be far more profitable than others.
Read on to find out!
  1. Investment banker. ...
  2. Author. ...
  3. Athlete. ...
  4. Entrepreneur. ...
  5. Lawyer. ...
  6. Real estate developer. ...
  7. Surgeon. ...
  8. Inventor.
Jan 2, 2023

Which sector is best to become a billionaire? ›

Many of the billionaires come out of the same industry, so let's take a look at them.
  1. Finance. 15% of the world's billionaires work in finance. ...
  2. Manufacturing. The second most lucrative industry for billionaire production is manufacturing. ...
  3. Technology. ...
  4. Fashion and Retail. ...
  5. Health.
Apr 20, 2022

Where do most billionaires make their money? ›

Billionaires generally derive most of their income from asset appreciation, rather than salaries or bonuses. Unlike ordinary income, asset appreciation is not taxed until a gain is realized through the sale of the asset.

Which sector can make you rich? ›

Financial Services — There's a reason bankers are generally very rich. 35.7% of respondents to the World Wealth Report said that finance was in their top three sectors most likely to create more millionaires.

Which sectors have the most money? ›

The 10 Most Profitable Industries in the US
  • Commercial Banking in the US. ...
  • Life Insurance & Annuities in the US. ...
  • Private Equity, Hedge Funds & Investment Vehicles in the US. ...
  • Regional Banks in the US. ...
  • Oil Drilling & Gas Extraction in the US. ...
  • Commercial Leasing in the US. ...
  • Property, Casualty and Direct Insurance in the US.

What is the most common job among billionaires? ›

The job sectors where most billionaires make their money
RankIndustry/Job sector% of billionaires
1Financial Services9.3%
3Real Estate8.1%
6 more rows
Apr 18, 2022

What is the most common job for a millionaire? ›

The top five careers for millionaires include engineer, accountant, teacher, management and attorney. 79% of millionaires did not receive any inheritance at all from their parents or other family members.

What is richest job in the world? ›

So, given below is an updated list of the most paid jobs in the world.
  1. Chief Executive Officer (CEO) ...
  2. Medical Professionals. ...
  3. Corporate Lawyer. ...
  4. Investment Banker. ...
  5. Data Scientist. ...
  6. Project Manager. ...
  7. Senior Software Engineer. ...
  8. Web Developers.
Feb 17, 2023

How Do most rich people earn their money? ›

Have multiple streams of income. Many self-made millionaires have money coming in from several places, including their salaries, dividends from investments, income from rental properties, and investments they have made in other business enterprises, to name a few examples.

What industry produces most millionaires? ›

The financial service industry has created the most millionaires in modern times. The financial system manages the money of people worldwide. Behind the most successful ventures in the world are people developing and growing money.

Where do rich people put their money? ›

Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. There were 24.5 million millionaires in the U.S. in 2022. And only 21% of them inherited money.

What jobs do people do to be rich? ›

These are the top 10 jobs that make you rich.
The following are jobs that will have you cashing in big time.
  • Doctor. ...
  • Surgeon. ...
  • Investment Banker. ...
  • Corporate Executive. ...
  • Petroleum Engineer. ...
  • Psychiatrist. ...
  • Data Scientist.

What industry is easiest to get rich in? ›

  • Financial Services.
  • Eldercare.
  • Business Consultancy.
  • Investment Firm.
  • Education and Training Service.
  • Insurtech.
  • Cleaning Business.
  • Healthcare Consultancy.
May 11, 2022

Which sectors are doing the best? ›

However, although the S&P 500 is in bear territory, there are some sectors which are performing better than the others. In 2022, safe haven assets and defensive market sectors like utilities, healthcare, consumer staples, and gold have outperformed relative to the overall US market.

What are the 4 major sectors? ›

The 4 different sectors of the economy are primary sector, secondary sector, tertiary sector and quaternary sector.

Which sectors are best? ›

Best Sectors to Invest In 2023
  • Housing Finance. With the Reserve Bank of India (RBI) raising repo rates consecutively, the housing loan interest rates have seen an uptick. ...
  • Banking. ...
  • Energy. ...
  • Automobile. ...
  • Conclusion.

What are the top 3 millionaire jobs? ›

The top five careers of millionaires
  • Engineer.
  • Accountant (CPA)
  • Teacher.
  • Management.
  • Attorney.
Dec 6, 2022

What do most rich people do for a living? ›

The stock market is one of the primary sources of income for the rich. Many wealthy individuals invest in stocks and bonds as a way to generate passive income. According to one of the largest studies of millionaires ever conducted, millionaires did not build a net worth of a million dollars or more through inheritance.

What job makes 1m a year? ›

But there are plenty of CEO positions at smaller companies that also pay over $1 million per year. And along with CEOs, there are also company presidents, chief financial officers (CFOs), chief information officers (CIOs), and even a fair number of vice presidents who earn seven figures per year.

What is the highest paying fun job? ›

High Paying Fun Jobs: 60+ Fun Careers With Good Salaries
  • Video Game Designers. ...
  • Ethical Hacker. ...
  • Master Sommelier. ...
  • Professional Video Game Player. ...
  • Social Media Manager. ...
  • Content Writer. ...
  • Graphic Designer. ...
  • Digital Marketer.
Jan 30, 2023

What is the #1 best job? ›

The 100 Best Jobs
  • #1. Software Developer.
  • #2. Nurse Practitioner.
  • #3. Medical and Health Services Manager.

What is the richest job in America? ›


Where in the Bible does it say the rich will get richer? ›

It was named for the bible passage Matthew 25:29: “For to everyone who has, more will be given, and he will have abundance; but from him who does not have, even what he has will be taken away.” The loose transition popularized today is "The rich get richer and the poor get poorer”.

How do 90% of millionaires make their money? ›

“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.

Where do most millionaires work? ›

  • Most millionaires work at Fortune 500 companies. ...
  • Many poor people become millionaires by winning the lottery. ...
  • Millionaires usually drive new cars. ...
  • Many millionaires drop out of college to start work. ...
  • Single people are more often millionaires than married people. ...
  • It is impossible to save enough to be a millionaire.

What business will never fail? ›

Industries that will never go away are those that cater to basic human needs and thus have continued high demand. Food is considered one of the safest industries for investment and is comprised of diverse sectors including agriculture, ranching, processing, preservation, preparation, and packaging.

What's the smartest thing to do with money? ›

Pay off debt

One of the best things you can do for your finances is to pay off all of your debt. To get started, focus on your most expensive debt—the credit cards and loans that charge you the highest interest. Once you have paid off all of these debts, focus on paying off your mortgage.

Who do rich people bank with? ›

Bank of America, Citibank, Union Bank, and HSBC, among others, have created accounts that come with special perquisites for the ultrarich, such as personal bankers, waived fees, and the option of placing trades. The ultrarich are considered to be those with more than $30 million in assets.

Why do bankers earn so much? ›

So why did wages surge? At least half is because financial firms' profits are up and bankers can capture a load of them. That might be because they're protected from competition from other workers who find it hard to move across into finance later in careers.

What jobs pay $1 million a year? ›

The jobs of millionaires
  • Investment banker.
  • Certified public accountant.
  • Entrepreneur.
  • Day trader.
  • Real estate agent.
  • Engineer.
  • Lawyer.
  • Actuary.
Feb 4, 2020

What job is the easiest to become a millionaire? ›

But let's get to the list, which is in no specific order.
  • Lawyers. For 2021, lawyers earned a median annual income of $148,030. ...
  • Engineers. Income-wise, engineering depends mainly on the area of specialization. ...
  • Medical Doctors and Surgeons. ...
  • CPA. ...
  • Investment Banker. ...
  • Real Estate Broker or Agent. ...
  • Insurance Broker or Agent.
Feb 16, 2023

What career makes a lot of money? ›

If you want to earn the big bucks, you may want to consider practicing medicine or law. According to a recent report by Glassdoor, doctors and lawyers are still the nation's top-earning professionals.

What jobs pay millions? ›

9 Best Million Dollar Jobs for Regular People
  • Company Executives.
  • Entrepreneurs.
  • Real Estate Agents.
  • Investment Bankers.
  • Franchise Owners.
  • Surgeons.
  • Law Firm Partners.
  • Management Consultants.
Jan 18, 2023

What jobs pay a billion a year? ›

What jobs pay a billion a year?
  • Investment banker. There's plenty of confusion about what investment bankers actually do. ...
  • Author. ...
  • Athlete. ...
  • Entrepreneur. ...
  • Lawyer. ...
  • Real estate developer. ...
  • Surgeon. ...
  • Inventor.

How to become a millionaire in 5 years? ›

Here's how you can become a millionaire in five years or less.
  1. Select your Niche. ...
  2. Put aside 20% of your income every month. ...
  3. Don't spend anything other than essentials. ...
  4. Get out of debt as quickly as possible. ...
  5. Start building Passive Income Streams.
Sep 28, 2022


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4. These Industries Produce The Most Billionaires In 2021 | Forbes
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