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I Studied the Wealthiest People in the World and Here's What I Found

I Studied the Wealthiest People in the World and Here's What I Found

10 Key Insights! 💡

Jay Desai
05 Sep • Estimated Reading Time: 9 minutes

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I Studied the World’s Wealthiest People and Here Are 10 Interesting Insights I Found

When we think about the wealthiest people on Earth, we tend to picture lavish lifestyles, private jets, and boundless influence. But the reality behind their wealth and success is far more nuanced than meets the eye. I took a deep dive into the habits, strategies, and lifestyles of the ultra-wealthy, and here are 10 shocking insights that may change the way you view money and success.

1. Most Billionaires Are Self-Made—Not Inherited

It’s easy to assume that the majority of wealthy individuals were born with silver spoons, but that’s far from the truth. According to The Hurun Global Rich List 2023, about 70% of the billionaires are self-made meaning they built their fortunes from scratch. A notable example is Elon Musk, who turned his modest beginnings in South Africa into a $250 billion empire spanning space exploration, electric vehicles, and renewable energy.

🔑 Key insight: Around 70% of billionaires are self-made.

2. The Wealth Gap is Growing Faster Than Ever

The top 1% of the world's population now controls more than 45% of the global wealth. According to the World Inequality Report, wealth concentration is accelerating at a staggering pace. In the U.S. alone, the wealthiest 1% increased their wealth by over $6.5 trillion during the pandemic, a sharp contrast to the economic struggles faced by the majority.

We often talk about the 1%, but within that elite group, billionaires form an even smaller fraction. These 2,781 billionaires control over $13 trillion—a staggering portion of the world's wealth. To put that into perspective, that’s almost 16% of the global GDP, concentrated in the hands of just a few thousand people. Their financial influence reaches far and wide, impacting markets, industries, and even governments.

🔑 Key insight: The combined wealth of the world’s 10 richest people stands at over $1.5 trillion, more than the GDP of most countries.

3. The Age of Tech Billionaires

The rise of technology has reshaped the billionaire landscape. Today, around 25% of the world’s billionaires come from the tech sector. These innovators are younger than their peers in other industries, with the average age of tech billionaires being 47, compared to 64 in sectors like real estate and manufacturing. The meteoric rise of companies like Google, Facebook, and Tesla has accelerated the creation of wealth at speeds unimaginable just a few decades ago.

In 2023, 7 out of the top 10 wealthiest people in the world made their fortunes in tech. Bernard Arnault, CEO of LVMH

🔑 Key insight: In 2023, 7 out of the top 10 wealthiest people in the world made their fortunes in tech.

4. The U.S. Leads the Billionaire Club

While billionaires can be found across the globe, the United States is home to the largest number by far. Of the 2,781 billionaires worldwide, 813 reside in the U.S., according to Wikipedia. That’s nearly 30% of the global billionaire population. China follows closely behind with around 406 billionaires, while India ranks third with 200.

🔑 Key insight: The U.S. alone holds over $4.7 trillion in billionaire wealth, largely driven by tech, finance, and real estate.

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5. Billionaires Leverage Debt to Build Wealth

It may seem counterintuitive, but many billionaires actively use debt to grow their fortunes. Rather than hoarding cash, they borrow against their assets at low-interest rates and invest in ventures with higher returns. This allows them to keep their wealth growing while minimizing the taxes they would otherwise pay on liquid assets. Elon Musk, for example, took out billions in loans against his Tesla stock rather than selling it, to avoid capital gains taxes while still having liquidity.

🔑 Key insight: Billionaires often use strategic debt as a tool to leverage their assets and generate even greater returns.

6. Most Billionaires Have Multiple Streams of Income

One rather less shocking revelation is that the world’s wealthiest people rarely rely on just one source of income. Diversification is key. On average, billionaires have seven different income streams, which include investments, businesses, real estate, and more. For example, Jeff Bezos didn’t stop with Amazon—he ventured into media with The Washington Post and space exploration with Blue Origin.

🔑 Key insight: Diversification reduces risk and is a fundamental strategy in building and maintaining wealth.

7. Real Estate is a Key Part of Their Wealth Portfolio

Even as many billionaires have made their fortunes in tech, finance, or retail, nearly all of them invest heavily in real estate. Real estate is seen as a reliable long-term investment that not only appreciates in value but also provides a steady stream of income. According to a report by Knight Frank, 43% of the ultra-wealthy own luxury real estate as part of their portfolio, often in major cities like New York, London, and Hong Kong. Billionaire Larry Ellison (Co-founder of Oracle) owns over $1 billion worth of real estate, including the entire Hawaiian island of Lanai.

🔑 Key insight: Real-estate is believed to be a time-tested reliable long term investment.

6. Women Still Make Up a Small Minority

While the number of female billionaires is slowly rising, women make up just 13.2% of the global billionaire population. There were 337 women listed on the world's billionaires as of 4 April 2023, up from 327 in 2022. Since 2021, Françoise Bettencourt Meyers has been listed as the world's wealthiest woman. Most of these women inherited their wealth, with notable exceptions like self-made billionaire entrepreneurs Sara Blakely (Spanx) and Rihanna (Fenty Beauty). India has about 15 female billionaires, with Savitri Jindal leading the list.

Let’s look at the list of India’s 10 richest women.

Rank & Name	Net Worth (US$)	Company
#1 Savitri Jindal	$39.5 B	Jindal Group
#2 Rekha Jhunjhunwala	$8.7 B	Titan Company Limited, and others
#3 Vinod Gupta	$6.0 B	Havells
#4 Renuka Jagtiani	$4.8 B	Landmark Group
#5 Anu Aga	$4.0 B	Thermax
#6 Smita Crishna-Godrej	$4.0 B	Godrej
#7 Falguni Nayar	$3.5 B	Nykaa
#8 Radha Vembu	$3.3 B	Zoho Corporation
#9 Kiran Mazumdar-Shaw	$3.3 B	Biocon
#10 Leena Tewari	$3.1 B	USV Pharma

🔑 Key insight: The richest woman in the world, Françoise Bettencourt Meyers, has a net worth of $93 billion from her stake in L’Oréal, the cosmetics empire.

9. Billionaires Are Early Risers

A common thread among the wealthy is their dedication to waking up early. Tim Cook (Apple CEO) starts his day at 3:45 a.m., while Richard Branson (Virgin Group) is up by 5am. Studies show that early risers tend to be more productive and proactive, qualities that are critical to wealth-building. This morning routine often includes exercise, planning, and self-improvement activities.

🔑 Key insight: The average billionaire wakes up at 5:30 a.m., giving them a head start on the day’s challenges.

10. They Take Risks—but Calculated Ones

Billionaires aren’t afraid of risk, but they are strategic about it. They make calculated decisions based on research, market trends, and expert advice. Elon Musk bet the entirety of his $180 million PayPal sale proceeds on Tesla, SpaceX, and SolarCity, with no guarantee of success. Today, he is the richest person on the planet.

🔑 Key insight: Risk-taking is seen as a fundamental trait among the world’s wealthiest, with most willing to fail multiple times before striking gold.