Most times, the best way to identify opportunities is to follow the money. You’re probably asking: which industries have produced the most financially successful people?
Getting the right answer to this question can set you on a foundation for ideas and innovation. Today, we bring you the top 7 industries that produced the current world billionaires. Our mission on After School Africa is to continue to point you in the direction of opportunities because your success matters to us.
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Also read 7 Industries Most Likely to Make you a Millionaire today.
7 industries that are most likely to produce the next billionaires in the near future.
In no particular order…
1. Real Estate and Construction Industry
The richest man in Africa, Aliko Dangote, identified an opportunity when the Nigerian government was about to embark on massive housing construction for Festac 77, and decided to start importing cement. That set him on the path to becoming the richest Black man alive today.
Shelter is a necessity of life, whether for private or commercial purposes. This makes real estate one of the oldest and most inclusive industries for creating wealth. By inclusive, I mean that it is open to as many people as are willing to be a part of it. While most banks open branches to stay closer to customers, they are also often strategically investing in the real estate they reside. In fact, most wealthy people either got wealthy from real estate or grew their wealth from real estate.
There is always demand for private and commercial property. And you don’t need a huge capital to start. You can start as a real estate agent, a construction material supplier, or provide housing maintenance services. As you earn and save, you can start investing in your own or collectively-owned property. Donald Trump, Samih Sawiris, and Michael Otto are among many billionaires who made their money from real estate.
Also read How to Start a Career in Real Estate.
2. Food and Beverages Industry
Aliko Dangote world’s richest black man mentioned earlier, also invested in sugar and flour along his business journey. The flour plant was later to be sold to a Singaporean company for $360 million dollars.
Regardless of whatever is going on in the world: climate change, wars, famine, and natural disasters, there is one unassailable fact about humans… We must eat. And drink.
All over the world, several smart people have made billions of dollars from the food and drinks industry. With a global population of at least 7 billion, the market for food and drink is large enough for interested people to jump on.
3. Finance and Investment Industry
People and organizations that are skilled in deploying and growing money are behind the most successful ventures in the world today. Warren Buffet, the third richest man in the world today, is regarded as the greatest investor of all time. He simply devoted his entire life picking and investing in the best stocks.
The fact is few industries have produced as many billionaires as the finance and investment industry. These people rely on their ability to identify and move money in the direction of opportunities and reap huge gains in return.
Maybe you wouldn’t have heard of Facebook, Alibaba, Uber, and many other businesses today if smart investors had not identified the opportunities in these businesses and invested in them. It’s not surprising why the formal finance industry has produced an unending stream of millionaires and billionaires.
No matter what field you are in, if you want to grow wealth, you must learn to spot and invest in potential opportunities.
4. Technology Industry
Five of the top 10 richest people in the world today are in the technology industry. This industry has created more wealth in the 21st century than any other industry. And it is set to be the future of wealth creation.
Watch 7 Industries Most Likely To Produce the NEXT Billionaires below
From finance to business through transportation, technology affects almost all industries on a global scale that so many people have become billionaires just from investing in tech companies.
Facebook, Uber, Dell, Google, Amazon are all different tech businesses that cater to different fields. The inexhaustive aspect of technology makes it one sector that will continue to generate millionaires and billionaires for years to come.
5. Fashion and Retail Industry
Though most people will not want to admit it, but the reason majority of people work long, tedious hours to make money is to buy stuffs. Besides food and shelter, good ol’ clothing is the next necessity.
The fashion and retail industry has produced at least 221 billionaires according to Forbes magazine. Some of them include Jin Sook & Do Won Chang, the founders of Forever 21 and the founder of Zara, Amancio Ortega, Johann Rupert, and Christoffel Wiese among others. There is money to be made in these industries.
6. Media and Entertainment Industry
People will always want to be entertained or get to know what’s happening outside their environment. Films, music, video games, TV and the technologies that enable them, have created a lot of millionaires and billionaires in recent times. Social media platforms have also provided the means to brand most entertainers, increasing their appeal while making them more accessible. This has enabled a lot of them to branch out into other businesses like clothing lines, restaurants even movies.
The richest black women, Beyonce, Oprah Winfrey, and entertainers like Tyler Perry and Jay Z, have created billion-dollar empires in the media and entertainment industry. There are huge opportunities in this space. You have to look for them to find them.
7. Manufacturing Industry
The manufacturing industry comes with a lot of risks, due to the initial capital and regulatory requirements in some countries. But this also comes with a commensurate reward if properly executed. Elon Musk rose from the default Silicon Valley tech entrepreneur to build four billion dollar manufacturing companies; Tesla, SpaceX, SolarCity and the Boring Company. Musk’s net worth is about $20 billion and counting.
By the way, we’ve made a video about Elon Musk. Be sure to check it out.
I have to mention Aliko Dangote again. The richest man in Africa created most of his wealth in the manufacturing industry.
As the human race advances, we will continue to manufacture things to meet our unending needs.
It is important to note that the purpose of this video is not to encourage you to pursue a career in a field simply because you believe it will make you the most money. We want to let you see that wealth can be created from different fields. The idea is for you to balance your interests with its commercial value. If you know where the need is, and what value you can offer, you can channel your energy in the right direction.
Next read Top 7 industries that are most likely to produce the next billionaires in the near future. While I have shared with you where the money is today; learn where the bulk of the money will likely be moving to in the near future.
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