Did you know that just a handful of industries are responsible for creating over 70% of the world’s billionaires?
Yep, that’s right, and the reason why these industries make so many billionaires is because they share a few common things.
And the insanely rich are well aware of that, so why not increase your chances of becoming one of them by reading this article?
Here are 15 Industries That Make Billionaires! Don’t worry if you don’t feel like reading, you can enjoy the video below or watch it on YouTube:
1
Space exploration and commercial space travel industry
What do Elon Musk, Jeff Bezos, and Richard Branson have in common?
We can tell you that they spend a lot of money on exploring space and going there. That’s because this business is where rich people go next.
Few people on Earth can afford to go into space. And where there is a market, there is also a way to make money.
But that’s not the whole story. Let us explain why this industry has so much potential for billionaires and why it has become so popular in recent years:
Technological advancements
Technology advances have made it easier and cheaper to explore space and send people on business trips to space.
These changes include rockets that can be used more than once. Power systems that work better and materials that are lighter. A lot of billionaires know that investing in these technologies could lead to big financial gains and open up new markets.
New businesses are the best way for wealthy people to make more money.
Even though Elon’s Starship recently crashed, keep in mind that this was just a test flight, and there will be more crashes.
It’s just part of the game, and in time, it will be normal to reuse these rockets.
Untapped resources
There are a lot of untapped resources in space, like rare-earth metals and water on the Moon and on asteroids.
These resources can be mined and used for both projects in space and use on Earth. This gives investors and business owners a chance to make money.
Why fight over the scraps that are already taken on Earth? You can find an infinite amount of materials in space.
Infrastructure development
As more groups go into space, they will need more infrastructure to help them do their work.
This includes satellite networks for communication, space stations for study and living, and stations where spaceships can get more fuel.
If you put money into this system, you could make a lot of money and control the market.
Space tourism
Companies like SpaceX, Blue Origin, and Virgin Galactic are working on building spaceships that can take people to space.
This gives billionaires a unique chance to invest in an industry that can bring in a lot of money.
And trust us, there are a lot of people who want to go to space. It’s something that a lot of people fantasize about.
And finally, Innovation and prestige
Space travel has always been a source of national pride and a way to come up with new ideas for technology.
Billionaires can make money by investing in space projects, but it also gives them a sense of prestige.
Think about it: Elon Musk’s fame has a lot to do with how well he has done in the space business. People really like rockets, and even though he had to spend a lot of money to make it happen, his breakthroughs made him very famous.
Elon knows how to use that to his advantage to get money and make more money.
2
The Tech Industry
In traditional industries, growth often requires a lot of money to be spent on real assets and infrastructure. Technology companies, on the other hand, can grow quickly with less money.
This is because many of their main goods or services are digital, which makes them easy to copy and spread at a low cost. So, tech developers can quickly reach a huge number of people, which leads to exponential growth and a lot of money.
The idea of network effects is another thing that adds to the wealth of tech billionaires.
In the technology industry, the value of a product or service often goes up as more people use it.
This can create a cycle of growth that is hard to stop.
For example, as more people join social media sites, they become more useful and interesting. This positive feedback loop speeds up the growth of tech companies, allowing them to take over their markets.
Lastly, the fact that the tech business is global is a key factor in making money.
The internet has made the world more connected than ever before. This makes it possible for tech companies to reach billions of potential users all over the world.
This huge market gives tech entrepreneurs new ways to make money. So they open up solutions that meet the wants of many different groups.
As these entrepreneurs’ businesses become more successful and valuable, they are paid a lot of money. This makes the tech industry even more of a haven for billionaires.
3
Artificial intelligence and machine learning
Due to its huge potential to change and improve many parts of human life, the artificial intelligence (AI) and machine learning (ML) business has become a major source of billionaires.
As technology keeps getting better, more and more AI and ML systems are being used in fields like healthcare, finance, transportation, and more.
So, this industry will make billionaires because of the potential to create a lot of economic value by making businesses more productive.
The fact that AI and ML can be used on a large scale is another reason why there are so many riches in these fields.
Traditional businesses often need to spend a lot on infrastructure and people in order to grow. AI and ML-based businesses, on the other hand, can grow exponentially with low marginal costs.
Once a good AI algorithm or model is made, it can be easily copied and used in many different industries. This gives the people who made it and the people who invested in it a chance to grow quickly and make a lot of money.
The fact that it is hard to get into the AI and ML business is another factor in how wealth is concentrated.
Most of the time, developing advanced AI and ML solutions takes a lot of money, specialized skills, and a lot of data.
Because of this, a small number of businesses and people who have these resources can dominate the market. They leverage the advantage of the demand for AI-driven solutions. And they make huge amounts of money in the process.
This makes it even easier for people who are at the forefront of the AI and ML business to make money. Look at how much OpenAI controls the market.
With ChatGPT, DALL-E, and Midjourney becoming more popular, it’s easy to see how this business could make the next generation of billionaires.
Remember that making money is all about using pressure, and those who know how to use these tools will beat those who don’t.
4
Financial services and fintech industry
Now, this wouldn’t be complete without The Wolf of Wall Street’s business.
It’s easy to see how people can become billionaires by working in the trading and “money” business.
But let’s still break it down.
The financial services and fintech industries help make billionaires because they are so important to coordinating and streamlining money transfers in the global economy.
By coming up with new goods and services, the sector is able to meet the growing need for efficient and safe ways to handle money.
As the world keeps getting smaller and smaller, people want more and more advanced financial solutions. This makes it easier for smart businesses to make a lot of money.
One of the most important things about the financial services and fintech industry is that it likes to use cutting-edge technology to question old ways of doing business.
This tendency to shake things up creates new markets. It is easier to grow quickly, which leads to big gains for those who can start changes and stay ahead of new trends.
By figuring out where the market isn’t working well and coming up with better solutions, these creators make huge amounts of money as they change the way money works.
Lastly, the fact that fintech solutions are easily scalable is a major factor in making riches.
These innovations help businesses grow quickly. They make money by making it easy to adapt to different markets or handle more transactions.
This ability to change and the fact that the business works all over the world make it a great place to make money.
People like Ray Dalio, Warren Buffet, Jamie Dimon, and Peter Thiel decided to work in finance because of all these reasons.
5
Biotechnology and Healthcare
The biotechnology and healthcare industries bring in a lot of money. There is a huge need for new ways to solve health problems and make people healthier generally.
In this field, people are always looking for new ways to study. This often leads to the creation of new treatments, medicines, and technologies.
Because of this, businesses and people who are able to bring these innovations to market could make a lot of money because there is a huge need for better healthcare solutions all over the world.
High barriers to entry are a big reason why this industry is so good at making people billionaires.
When new biotechnology products and medical treatments are made, they often require a lot of study, protection of intellectual property, and a strict regulatory approval process.
This combination not only costs a lot of money but also takes a lot of specialized knowledge and skill.
Because of this, successful entrepreneurs in biotech and healthcare can charge more for their innovative goods and services, which leads to huge profits and, in turn, creates billionaires.
Patrick Soon-Shiong, who came up with the cancer drug Abraxane and started the company NantWorks, is a well-known example of a billionaire in the science and healthcare industries.
Stéphane Bancel is the CEO of Moderna, which used mRNA technology to make one of the first COVID-19 vaccines. Ugur Sahin is the CEO of BioNTech, which has worked with Pfizer to make a vaccine.
Their success stories show how innovative solutions to important health problems can lead to a lot of money. Their ground-breaking goods and services have attracted a lot of customers and, in the end, made them a lot of money.
But not everything is a rainbow and happiness.
This business can get pretty shady, but that’s a different story.
6
Virtual and augmented reality (VR/AR)
Everyone has heard of VR and the well-known Metaverse, and it’s easy to see why this business is so profitable when you think about how popular these terms are.
Rapid advances in technology have made it possible for VR/AR to provide immersive experiences that were previously unimaginable. This has led to the creation of new uses in fields like gaming, healthcare, education, and entertainment.
Demand for these unique and cutting-edge solutions has grown by leaps and bounds, making it possible for businesses and investors to take advantage of the growing market and make a lot of money.
Some famous billionaires who made their money in the VR/AR industry are:
- Palmer Luckey started Oculus, which Facebook bought in 2014 for $2 billion.
- And Tim Sweeney, the CEO and founder of Epic Games, the company behind the famous Unreal Engine, which is used by many VR/AR experiences.
These people have been able to use their knowledge of technology and business to make goods and platforms for both consumers and businesses alike. This has led to high market valuations and a lot of personal wealth.
And there’s no doubt that as the VR/AR market continues to grow, it will create even more billionaires in the future as its transformative potential is used in a wide range of ways.
7
Food technology and alternative protein sources
The Food Technology and Alternative Protein Sources industry is growing quickly.
This is due to a number of things, such as a growing global population, concerns about the environment, and changing eating habits.
As the need for healthy, safe food sources grows, this industry’s creative solutions are becoming more and more valuable.
Entrepreneurs and investors in this industry know that there are tons of money to be made because these solutions are set to change the way food is made and distributed.
This has made a lot of billionaires in the industry, as their companies take a big share of the market and become stars in making food in a sustainable way.
Beyond Meat, a business that makes plant-based meat substitutes is a good example of this.
Ethan Brown, the company’s founder, and CEO, has become a billionaire thanks to the company’s innovative goods. They meet the growing demand for sustainable protein sources that don’t hurt animals.
Patrick O. Brown, the founder of Impossible Foods, is also a well-known person. He has made a lot of money because the plant-based burger patties his company makes are famous and widely used.
The fast growth of the industry has also drawn investments from venture capitalists. The involvement of VCs has made entrepreneurs even richer.
As the Food Technology and Alternative Protein Sources field keep growing and coming up with new ideas, more billionaires are likely to be made in the future.
With its high demand, potential to change the world, and lucrative investment possibilities, this industry is a great place to make money and a good choice for people who want to make a difference in the world.
8
Entertainment and streaming industry
The entertainment and streaming services business is a very profitable one that makes its top players very rich. There are a number of reasons for this.
First of all, the Internet’s global reach has made it possible for these platforms to reach a huge audience. This enables many ways to make money through subscriptions, ads, and relationships.
Second, the industry gains from the network effect. This means that as more people join a platform, the value of that platform goes up for both new and existing users.
This helps the market grow quickly because people are drawn to the most popular services. It can also cause a snowball effect that makes the market even bigger.
They spend on high-quality content and exclusive deals. This makes them even more appealing to customers and drives up their valuations.
Reed Hastings, co-founder and CEO of Netflix, and Jeff Bezos, owner of Amazon, which is the parent company of Amazon Prime Video, are two well-known billionaires in this field.
These people’s wealth has grown along with the growth of the companies they work for.
Other well-known names include leaders from Hulu, YouTube, Disney+, and even Spotify, which is a streaming service.
When you think about the deals that are made in this business, it’s easy to see what’s at stake and how much money is involved.
Take Joe Rogan, the host of the famous podcast “The Joe Rogan Experience” (JRE) as an example. He signed an exclusive licensing deal with Spotify in May 2020 for a number of years.
It was said that the deal was worth more than $100 million.
Because of this agreement, JRE is now available on Spotify. Eventually, the show will only be available on Spotify, taking it off Apple Podcasts and YouTube.
Even though there is a lot of competition, you should believe us when we say that there is a lot of money to be made in this business.
9
The green and renewable energy industry
In the last 20 years, there has been a huge rise in the desire for new green technologies and renewable energy sources.
This made a lot of people very rich, of course.
One reason why the industry is so profitable is that green technology is always getting better. This has made renewable energy more efficient and cheaper than ever before.
Innovations like solar panels, wind machines, and ways to store energy have become easier to use. Their production costs have also gone down a lot.
This has made it possible for green energy companies to make a lot of money by selling clean energy to both the public and private sectors. These companies can then draw large investments and give their founders the chance to get very rich.
Elon Musk, CEO of Tesla and SpaceX, is a well-known example of a billionaire in the green and renewable energy industry.
He was one of the first people to make money with electric cars and solar energy through companies like SolarCity.
Zhengrong Shi is also a well-known person. He started Suntech Power, the world’s largest solar energy business. Also, Aloys Wobben, who started Enercon in Germany, has made a lot of money from the company he started.
These visionaries have shown that the green and renewable energy business has a huge amount of potential to make money and solve some of the world’s biggest environmental problems at the same time.
We still haven’t found a full solution, so more ideas are on the way, and you could be the one to come up with one.
10
Real estate
The real estate business is a major source of wealth for a number of reasons.
First, it is based on land, which is a valuable but scarce resource.
As the world’s population grows and more people move to cities, more people need land and property, which drives up prices.
There is a limited amount of land and its value tends to go up over time. So people who buy real estate could end up making billions.
Second, the real estate market offers many ways to make money and use the money you already have.
Investors can make money from rental income. The value of the land goes up, and business ventures like hotels or office buildings tend to follow.
Also, loans can be used to pay for real estate investments. This lets people buy valuable assets with less money upfront, and as the value of the property goes up, their net worth goes up as well.
Donald Bren, the owner of the Irvine Company, and Wang Jianlin, the head of the Dalian Wanda Group, are both billionaires who made their money in real estate.
11
E-Commerce industry
Due to its huge growth and global reach, the e-commerce industry has made a lot of people rich.
E-commerce platforms can serve millions of customers without a physical location, unlike standard brick-and-mortar businesses. This makes it easy for entrepreneurs to grow their businesses quickly.
Also, the low barriers to entry in e-commerce make it a good place for new ideas and business models to grow, which can lead to a lot of money for those who achieve.
E-commerce is based on data, which makes it easier to optimize and personalize. This leads to customer trust and repeat business.
By using data analytics and artificial intelligence, people who run e-commerce businesses can make shopping experiences that are appealing to each customer.
E-commerce companies will make more money and be worth more if their customers are happier and stay with them longer.
Businesses that have taken advantage of these possibilities include Shopify, which was started by Tobias Lütke, and JD.com, which was started by Liu Qiangdong, who is known as the “Jeff Bezos of China.”
12
Blockchain and cryptocurrencies
Many riches have been made in the blockchain and cryptocurrency industries. Mostly because digital assets have grown so quickly and so much in the past few years.
Cryptocurrencies like Bitcoin and Ethereum have changed the way people buy and sell things and hold money. They have also attracted a lot of investments, which has driven up their market values.
The underlying technology, blockchain, allows for safe and decentralized networks. It has become widely accepted and used in many different areas, which has helped the industry grow even more.
The industry has sparked a wave of innovation. This has led to the creation of many businesses and apps built on blockchain.
Entrepreneurs and investors who backed great startups, like Brian Armstrong, co-founder of Coinbase, and Changpeng Zhao, founder of Binance, have made tons of money through their businesses.
The possibility for change in the industry is high. And the increasing demand for digital assets and blockchain solutions means that it will continue to make its participants a lot of money. This is an industry that has the possibility to turn a lot of people into billionaires.
13
Electric vehicles (EV) and autonomous driving
The business of electric vehicles (EVs) and self-driving cars is one of the hardest to do well in.
It’s a known fact, but those who are strong enough to deal with it are rewarded by the market. And they do it because this business has the potential to change the way people get around.
Traditional cars with internal combustion engines are becoming less popular.
This change is brought on by things like growing concern for the environment. Or improvements in battery technology and government laws that support this change.
Trevor Milton, who started Nikola Motor Company, which makes cars that run on electricity and hydrogen, is a good example.
Li Bin, the creator of NIO, a Chinese company that makes EVs and has become a major player in the world market, is another person who has done well.
Both business owners saw the promise of the electric vehicle (EV) market and took advantage of the trend toward greener and more technologically advanced ways to get around.
As the industry keeps growing and coming up with new ideas, it’s possible that more entrepreneurs will make a lot of money through their contributions to the EV and autonomous driving space.
14
EdTech
The EdTech business has the potential to make a lot of billionaires because it combines the growing need for education with inexpensive, scalable technology.
The world is becoming more connected and knowledge-based. More and more people need easy-to-find, high-quality educational tools that suit their needs/
EdTech companies can provide these tools through new platforms and solutions. This lets them reach huge markets around the world and make a lot of money.
Byju’s, an online learning site based in India, has made its founder, Byju Raveendran, a billionaire.
Millions of kids around the world have signed up for the company’s personalized learning experiences.
Coursera, which was started by Andrew Ng and Daphne Koller, is another example. It offers online courses from top universities and institutions so that people can learn useful skills and information.
15
The luxury industry
An industry of high-profit margins and limited availability of luxury goods and services. There are a lot of billionaires in the luxury business.
People who want to show off their status and have unique experiences are ready to pay more for these products.
This, in turn, leads to a lot of money for the leaders of the industry who own brands synonymous with luxury and status.
For example, Bernard Arnault is the richest person in the world and the CEO of LVMH. He has a lot of money because he owns famous luxury brands like Louis Vuitton, Mot & Chandon, and Dior.
Francois Pinaulthas become a billionaire thanks to his portfolio of high-end names like Gucci, Saint Laurent, and Alexander McQueen.
The luxury industry can be a huge source of wealth for people who can manage exclusive brands.
These are the industries that make the most billionaires. And now you know why. So put that knowledge to good use!
