The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
The Transition From Millionaire To Billionaire
Earlier this month Forbes released ‘The World’s Billionaires 2018’ and with over 2,000 people now being part of the three comma club, we wanted to take a dive into the data behind the billions…
From Millionaire to Billionaire explores the averages of the world’s richest people and their journey to where they are today, looking into ages, industries, degrees and more. The data offers insight into just how quickly (or slowly) the mega rich have turned their millions into billions.
Key stats from the research highlighted:
It takes on average 14 years to go from millionaire to billionaire
Average age first million is earned – 37
Average age first billion is earned – 51
Entrepreneurs in the tech industry make the jump in half the average time – going from millionaire to billionaire in just 7.3 years
Russian entrepreneurs make the jump the quickest – 9 years
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