.png){kind=small}
Report Explaining the Method of Accumulating Wealth to Enter the Billionaires Club in 2024
The United States Home to Most Billionaires in the World
 |
| Wealth-Building Guide, Your Path to the Billionaires Club in 2024 |
Millions of individuals diligently engage in daily work, aspiring to accumulate wealth, build fortunes, and transition to prosperity. However, most fall short of this goal, prompting questions about the strategies for wealth accumulation and how certain individuals become billionaires while others remain constrained.
According to a specialized investment report, a significant number of the world's billionaires inherited their wealth rather than building it themselves.
How can I get wealth
A report from the American news outlet highlighted that the conventional route to wealth and joining the billionaires' club often involves inheritance.
The report noted that, by the end of last year in 2023, the world's wealthiest woman achieved billionaire status. Interestingly, she did not attain this through creating an online shopping empire or selling high-end electric cars but rather through inheritance.
What does create wealth mean
The mentioned individual is Françoise Bettencourt Meyers, owner of the renowned French cosmetic brand "L'Oréal," which experienced substantial growth in recent years due to increased global spending on fashion and beauty products.In a recent report by UBS, the investment bank shed light on a significant development in 2023: the wealth of inherited billionaires surpassed that of self-made billionaires for the first time in nine years.
.webp "Wealth-Building Guide, Your Path to the Billionaires Club in 2024") |
Report Explaining the Method of Accumulating Wealth to Enter the Billionaires Club in 2024 |
The number of billionaires has surged over the past few decades. In 1987, Forbes tallied 140 billionaires globally, and by 2023, the count reached 2,640.
How to create wealth in 2024
Chuck Collins, director of the Program on Inequality and the Common Good at the Institute for Policy Studies, remarked, "This is how wealth dynasties form. The only new aspect in 2024 is that the piles of money are larger than ever."
How to build wealth from nothing
The report not only highlights the increase in the number of billionaires but also the ongoing rise in their average wealth, driven by historic stock market returns. Additionally, heirs now receive wealth transfers early in their lives, rather than waiting for a family member's death or a distant future.
The UBS report emphasizes that the United States is the primary home for most billionaires globally. In conclusion, the report challenges the prevailing myth of visionary entrepreneurs ascending the social and economic ladder, suggesting that one's economic status at birth often dictates their future wealth.