How to become a billionaire?
Mohammad Hayat
What does it take to become a billionaire?
Here’s an analytical solution provided on how to become a billionaire.
Introduction:
You might be excited by reading the title. “Billionaire” — such a fancy word, right?
Who am I to write about this topic? Am I one of the billionaires? — Obviously, NO!!. But I wish I were one.
Am I writing this to give any financial tips or advice to become a billionaire? — NOPE.
Then, whom am I? And what are we going to do here? — I am an analyst with the Forbes billionaire historical dataset. We are going to play with the data and answer the 10 most critical questions.
Are you excited to know what are all the questions we are going to find answers to? Let’s get started.
Which industry sector has the most number of billionaires?
Does a college degree required to become a billionaire?
Where to study to become a billionaire?
Which age category contains the most number of billionaires?
How many billionaires are self-made?
Where do younger billionaires live?
What’s the relationship status of most of the billionaires?
How many billions are contributed by the billionaires to their country?
Which city contains more billionaires?
How many billionaire families are there?
Let’s analyze the data and come up with answers to these questions. Here’s the link to download the dataset — Click here. Here’s the Github link to check out the project code — Click here.
1. Which industry sector has the most number of billionaires?
The above graph clearly depicts that the most number of billionaires are in the real estate industry. Some might have thought that real estate is an over-valued terminology. But the data is clearly telling the opposite story. Check out whether your industry manages to come to the top 10 list.
2. Does a college degree required to become a billionaire?
You didn’t expect this, right? This output might be shocking for you. We all have heard that college degrees are not necessary to make money. But we can clearly see that 47.5% of the billionaires have done Bachelors, 32.9% of the billionaires have done Masters and 7% have done doctorate level degree. So, don’t get misled by those motivational speeches. Data is suggesting the opposite.
Woah! Back to back shocking facts. We have often heard that one doesn’t have to be in the creamy layer a.k.a study in the best schools to become a billionaire. Well, do sayings even matter without proof? Here’s proof trying to say that we’ve been fooled. Of course, they are deemed as the best institutions for a reason.
4. Which age category contains the most number of billionaires?
We can see that there are more billionaires who are currently in their 50s and 60s. It makes sense because we know that it takes some time to build wealth.
You might be wondering who’s that billionaire guy in his 10s! He is Kevin David Lehmann (18 years old). He became the youngest billionaire in the world with a net worth of $3.3 billion after he received the stakes in German drugstore chain dm from his father, Guenther Lehmann.
5. How many billionaires are self-made?
The graph depicts that around 66% of the billionaires are self-made and around 33% of the billionaires aren’t self-made (adopted the money from their family).
6. Where do younger billionaires live?
It might be an obvious answer as expected. The USA contains the most number of young billionaires (aged below 35).
7. What’s the relationship status of most of the billionaires?
Even more than 90% of the billionaires are married. So, don’t say that “I want to focus on my career. I don’t want to get married and lose my freedom.”
8. How many billions are contributed by the billionaires to their country?
The total net worth of every billionaire in the US alone comes around 4500 billion dollars. Chinese billionaires stand next in the line.
9. Which city contains more billionaires?
The graph depicts that the most number of billionaires live in Beijing, China. It’s followed by New York City, United States.
10. How many billionaire families are there?
There are 335 billionaire families, which means that there are 335 families who are billionaires, unlike a single person being a billionaire.
Conclusion:
Are you feeling bad after going through the results of these questions?
“I am not studying in a top school”, “I don’t live in Beijing, New York or some other top city”, “I am not working in real estate or finance sector”. But my goal is to become a billionaire one day.
Don’t worry! We have just seen the top percentile of the data. There are many “rags to riches” stories that aren’t visualized in the above graphs. You might be one of them.
Again, here’s the link to download the dataset that is used to perform this analysis — Click here. Here’s the Github link to check out the project code — Click here. If you have any more questions to be answered, you can go through the data and come up with insights you are looking for.
Contact me:
I will be doing a lot of analysis like this. Feel free to follow me on Medium.
Connect with me on Linkedin — Click here
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Posted Sep 4, 2024
Employed Python for the analysis of data pertaining to 2700 billionaires, involving thorough data cleaning, aggregation, and visualization using matplotlib
