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 in order to become billionaires? Zippy Opinion would like to take you on a journey to find out in which sectors and industries the rich (both inherited and self-made) made their money. Here are the industries in which the rich made their fortunes:
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 one of the most common and easiest ways 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 your investments.
For example, look at Warren Buffet. Instead of running a business like Microsoft, Apple, or McDonald’s, he has simply devoted nearly his entire life to picking the best stock 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 for billionaires to make their money. The sheer speed and scale at which technology can reach and affect people globally allow someone to generate wealth in ways not possible decades ago.
Microsoft might not seem as trendy as it used to be back in the ’90s. Back then, Windows was the biggest thing since the invention of the wheel and made Bill Gates one of the richest people in the world.
In today’s world, it is tech companies like Google and Facebook that are changing the way we practically live our everyday lives. Google kicked off as a research project at Stanford in 1996, and Facebook started life 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 is not something you’re thinking of, 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 by the largest coupon deal site in the world for a reported ₹174 crores and is now Groupon, one of the biggest coupon sites in the world!
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 app stores globally. If you haven’t played the game, you probably saved yourself from destroying your phone in a rage of expletive fury within the first five minutes. But even if you did, the creator of Flappy Bird, Dong Nguyen, doesn’t really care—because he was making ₹37 lakhs per day in ad revenue from the game, until he reached a point of bliss and decided he had made too much money… and removed the game entirely from the app store.
Real Estate
It’s no surprise that real estate is number three on the list and the third most common way for the rich to make their lakhs and crores.
We all know that real estate is one of the most valuable assets we can own, simply because we all need land to live on. But not all of us are lucky enough to be born into royalty. So we have to be self-made and do it on our own.
A property you bought a few decades ago is now worth about 10 to 20 times its original value! This is no mere coincidence. People are able to make a lot of money through real estate.
However, real estate is relatively volatile, and you’re taking on a hefty degree of risk because you need to take on a mortgage. Knowing when and how to invest in real estate is another ball game altogether. If you get it right, it’s money, money, money all around. But if you don’t, you could be stuck with something you can’t sell for a profit for a very long time.
Fashion and Retail
If beautiful people and beautiful clothes are more your thing, then fashion and retail are definitely right down your runway. The billionaires on the Forbes 400 who made their money in this industry include entrepreneurs like Jin Sook & Do Won Chang, the founders of Forever 21, and Amancio Ortega, the founder of Zara—all of whom also happen to be some of the richest people in the world today.
Fast fashion is a growing trend among millennials as well as Gen Z. There is only going to be more hype about it, and investing in it now might be a boon. This is because, when COVID is over, shoppers will flock everywhere, and this will, in turn, create a big boom in the market.
Sports
If you like a little more excitement and awe in the way you make your millions (or billions), then investing in sports teams might just be your cup of tea. It’s fun knowing your business model relies on a bunch of sweaty millionaires winning a game of football, baseball, cricket, hockey, etc. We kid, we kid!
Sports entertainment is growing rapidly and is a worthy place to start making money.
Win, and watch fans lap up ticket price hikes, overpriced merchandise, and another new jersey design—season after season with fanatical pomp. Lose, and watch the faithless mobs call for your head while your profits drop. But hey, what better way to make a billion, right?
Food & Beverage
Another industry that the world literally can’t live without. We all need to eat and drink, and we’ve made McDonald’s one of the biggest companies in the world—even though they serve burgers that apparently never rot.
Today, not only is McDonald’s incredibly profitable, but people who were smart enough to secure a franchise have become fantastically rich as well.
Not to worry if you missed out on that golden McTicket. Many food entrepreneurs have made it big by starting their own F&B businesses. It’s not the easiest industry to be in, due to the competition. But then again—we all need to eat sometime, right?
Energy
If your dream is to live like an oil sheikh, parading around in your gold-plated car (with a tiger in the passenger seat), then energy might just be your thing.
The world needs energy. We have an insatiable addiction to it. It’s no surprise that some of the biggest companies by market cap are energy giants like Exxon Mobil, PetroChina, and Royal Dutch Shell. And of course, the largest company on the planet: Saudi Aramco.
However, the tide is turning. Governments across the globe are looking for cleaner, more efficient energy. So it might not be the best time to get into oil. But who knows?
It’s no easy feat becoming an energy baron. But if you somehow manage to pull it off like Roman Abramovich (owner of Chelsea FC), then things like buying a football club become pocket change.
Healthcare
If you create a drug that can cure cancer or HIV, you might just become the richest person ever. But even if you don’t aim that high, creating the next breakthrough drug could result in a massive payday if acquired by a pharmaceutical giant.
Or you could do what Jonas Salk did—give the world the polio vaccine for free, missing out on billions, but saving millions of lives in the process.
Looking at today’s world, the pandemic made one thing clear: the pharmaceutical industry is essential. Markets have reopened, and people are moving freely again—thanks largely to the efforts of pharma companies ensuring access to life-saving drugs and vaccines.
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. The amount of planning and execution needed is massive. But if you’re the first to create something new, and you stay committed to it, you might just become super-rich.
Until then, why not start small and ask: Do Online Surveys Really Help in Paying off Debt?
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