4 Industries That Will Most Likely Make You A Millionaire — Self Investments
One of the best ways to identify opportunities is to follow the money. Observe which industries have produced the most wealth and grow fast. These can point you towards the right places to do business. Keep in mind that it takes time, a lot of commitment and hard work with appropriate knowledge and skill to become a millionaire. With being said, lets take a look at the 4 industries that have created the most millionaires.
1. Financial Services
According to the Wealth Report, financial services has created the most number of millionaires since modern times. Most of the thriving ventures in the world today are towards people and organizations that are skilled in deploying and growing money.
Financial institutions have been and will continue to manage money across the word. Anybody making or earning money uses some type of financial institution. It could be a bank, financial policy, insurance, some fund or a wealth portfolio.
2. Technology
This is the fastest wealth creating industry. One good example is that of Facebook. It was created in 2004 and four years later it was valued around 15 billion USD.
When given thought people who make money use technology to some extent. The ones who make the most money use it more or simply hire someone or an organization with a better understanding of it.
One thing that we have seen work well is the combination of technology and financial services. It has solved a good number of peoples problems especially that of time and convenience. Digital banking, PayPal and similar platforms have made it easier for most people to deal with money transaction at their own time and space.
3. Real Estate and Construction
This industry is known as one the oldest source of wealth throughout the ages. Most probably because it solves the problem of shelter which is a basic necessity of life.
With its encompassing value chain from property acquisition, to construction, maintenance, management, professional services and other related activities; real estate remains one of the best ways to grow wealth. As Geno Maycock would often says, “you can’t go wrong with real estate.”
4. Food and Beverages
Another basic necessity that has to be met various times a day. There are 7 billion people in the world to feed. Since anyone could remember global population has always been on the rise despite the challenges that the world has come across ( e.g. wars, spread of diseases and natural disasters).
In the midst of this resistant growth, we find population where the provision sufficient food is not met. The constant need of food, the need of quality foods and satisfying services will keep this industry fueled. Furthermore, these are needs that will always exist for so long as the human race does.
Of course there are other industries out there that have made and will continue ta make billions that cannot be ignored like the health industry, media, entertainment, renewable energy, natural resources, transportation/ shipping, communication and education to mention some. Notice that there is one thing in common with all these industries; they provide solutions for common problems.
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Originally published at https://businessinchildinvestment.com on April 30, 2021.
