If you think it’s impossible to go from having nothing to having billions in the bank, you’re wrong. (Although the odds of becoming a billionaire are not on your side – according to a recent report there is only one billionaire for every three million people on the planet.)
As this fascinating infographic from Funders and Founders shows, 73 of the richest individuals in the world are self-made. They were probably in a financially worse situation than you are in now when they started. Here are some more illuminating facts highlighted in the infographic:
- Nearly half of those 73 self-made billionaires were born to poor parents.
- 8 of these self-made billionaires have the double whammy of being born to poor parents and having no degree.
- The billionaires have maverick dispositions which leads them to take risks such as buying failing companies and investing during hard times, for example.
- Hard work, entrepreneurialism, risk and innovation are the magic keys in attaining billionaire status.
- Approximately three-quarters of the billionaires have a college degree, proving once again the importance of higher education. A separate report points out that of those billionaires with a college degree, 42pc have a Bachelor’s, 26pc have a Master’s, 21pc have an MBA and 11pc have a PhD.
According to Wealth-X and UBS Census, 60pc of male billionaires only partially inherited their wealth, further increasing it through their own endeavours. By contrast, 65pc of female billionaires fully inherited their wealth, and these are the wealthiest female billionaires today. However, the Census predicts that billionaires who have made the majority of their fortunes will become the most common type of billionaire in the future.
Over to you: why do you think these ‘from zero to billionaire’ individuals succeeded? Please share your thoughts in the comments box below!