Billionaires are just a fraction of the world’s population. According to Forbes, about 2,075 billionaires currently have a combined net worth of $8 trillion.
These billionaires didn’t just jump into such huge “worths” today as they strived and worked hard to attain them.
Although many studies have been done to identify how billionaires make their money, ours will identify the 7 Streams of Income of Most Billionaires.
Table of contents
How many Sources of Income do most Millionaires have?
7 different income streams
Which is the Richest Source of Income?
In general, company ownership and entrepreneurship are how wealthy people make their money. Those willing to take on more risk can launch a business to get wealthy.
Which Income Stream gives 90% of millionaires created?
Real estate.
90% of millionaires become millionaires through real estate ownership.
This well-known adage from Andrew Carnegie, one of the most successful businessmen ever, is still true today as it was more than a century ago. The world’s most prosperous businesspeople have accumulated a fortune through real estate.
7 Streams of Income of Most Billionaires
The following income streams have produced some of the biggest billionaires today.
#1. Ecommerce
After the internet burst, a few companies took advantage of it to sell and deliver value.
Today Amazon – one of the top companies in the world – has shown the possibilities accessible in the e-commerce industry.
Ecommerce has become a huge business venture as other companies like Facebook and Google have indicated serious interest in the enterprise.
How e-commerce Works
E-commerce is simply selling anything online. Whether physical or information products, they all fall under the e-commerce industry.
For a company like Amazon, you will open an online store to upload pictures and videos of your products. The company takes a percentage off the purchase amount for any buyer who purchases your products.
This is one of the 7 Streams of Income that most billionaires have.
Read more: Where to Sell Comic Books Quickly in 2023 | Old & New Books
#2. Technology
Without technology, we wouldn’t be able to use some products that make us happy.
For example, Facebook, Google, and WordPress allow us to connect with people from all over the world, find information from anywhere, and communicate information from anywhere in the world, respectively.
Several great companies have been established due to the growth of technology, and that will not change.
#3. Fashion
For a long time, fashion was all about having a great wardrobe and making some nice clothes until certain people turned it into a business.
Today, billionaires like Armancio Ortega and Bernauld Anault are grateful to the fashion industry for helping them reach the great heights of billionaire status.
The fashion industry is worth $2.5 trillion globally. And many fashion companies have gained a huge advantage in the market. Some of the biggest fashion companies include:
- Zara
- Versace
- Nike
- LVMH
- Hermes
- D&G
#4. Transport
We need transport to cover certain distances. The transport business is a serious business that has grown from being all about taxis and buses to professional rides.
Companies like Uber have enabled you to enjoy a luxurious ride drive even if you don’t own a car.
Their yearly income runs into billions of dollars as they keep growing.
#5. Media
The media has been the strongest system of communication from person to person. As much as people communicate, people get to identify with different events they can’t physically attend.
The media comprises one of 7 streams of income for billionaires. According to Media Post, the average American consumer spent $1,344.55 in 2018, an increase of 3.6% from 2017.
Some of the biggest media firms in the world include:
- Disney World
- CNN
- New York Times
- Huffington Post
#6. Real Estate
The real estate industry is worth over $9 trillion. Airbnb, established in 2008, introduced an aspect of real estate that has made them a top firm in the world. Indeed, this contributed to the high value of the real estate.
Real estate has remained one of the 7 streams of income for most billionaires due to the need for quality and affordable housing.
#7. Service Businesses
Walmart has shown that you can make a lot of money as a service business. Today, they have a net worth of over $300 billion dollars and over a million employees.
A business which started as a retail store is now trading on the stock market.
The Walton Family – owners of Walmart – make up the top ten billionaires in the world as the family’s eldest son represents them.
How do you create 7 Streams of Income for Passive Wealth?
- Ideas for passive income
- Develop a course
- Publish an ebook
- Rental revenue
- Affiliate promotion
- Flip commercial goods
- Online photography sales
- Invest in real estate crowdfunded
- Peer-to-peer lending
Final Thoughts
Billionaires make a lot of money from their businesses. However, there are 7 Streams of Income for Most Billionaires. And we have outlined them here for you to read and know.
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