5 industries that could make you a billionaire in 2021
Billionaire lifestyle; Unsplash
Perhaps, just the thought of being a billionaire gets you those occasional goosebumps, that’s why you opted to find industries that have the potential of making you one, right?
That’s a smart strategy, I have to say. All the same, we understand the value of your time; hence, I’ll cut to the chase and present you the 5 Industries that could make you a Billionaire not just in 2021, but in the next 2 decades.
Let’s dive right in.
5. The Fashion Industry
Estimated Wealth: $268.1 Billion
Growth Rate: 20.7%
You could not have realized how prospective the fashion industry could be, for sure. However, clothing is more than just a mere necessity.
For the majority of people, one of the most compelling reasons to work long hours is to splurge on high-end designers during those occasional day outs.
Take into account that good designers will charge a lot of money since fashion products are valued more by their perceived worth than by commodity prices or actual distinction from other brands.
4. The Healthcare Sector
Estimated Wealth: $548.0 Billion
Growth Rate: 36.3%
As long as people live, this industry will continue to expand. It is concerned with the care of the seniors (elderly), the production of medicines (pharmaceuticals), and the creation of equipment that are effective in various types of treatments.
Wellness businesses have also expanded as a result of the belief that prevention is easier than treatment.
3. Banking and Financial Services
Estimated Wealth: $229.1 Billion
Growth Rate: 12.8%
Money is what motivates people to work. Banks, money loan firms, financial companies, insurance companies, and brokerage companies are also part of the finance and investment sector too.
People wish to safeguard their hard-earned capital, such as their savings and enterprises with insurance providers while investing firms assist potential billionaires like you in making the best investing decisions.
They research industry dynamics and assist in the purchase of stocks or the creation of new businesses.
2. Tech Industry
Estimated Wealth: $565.7 Billion
Growth Rate: 41.1%
People use technology daily, and this industry is expanding rapidly more than other industries. Already, many billionaires have come from it, including Elon Musk and Jeff Bezos.
On top of that, it’s used in all industries and improves work efficiency in sectors such as retail, food industry, and agriculture, among others.
Cutting edge soft wares, Artificial Intelligence, and the Internet of Things are some of the sectors you should keep an eye on.
1. Real Estate
Estimated Wealth: $342.5 Billion
Growth Rate: 12.9%
Real estate investing will be insanely profitable if you make the right choices. Property and land increase in value over time, raising the sale price.
It’s not just about the purchase and sale of homes and properties, but also the construction of houses, supply of construction materials, architecture, and interior design.
With the rising growth of the population, people have a fundamental need for accommodation, and there is a strong demand for housing from the lower, middle, and upper classes.
Conclusion
Certain markets are trailing in the footsteps of the global economy providing lucrative wealth-building opportunities. Quite frankly, some of them will make you a billionaire.
Around the same moment, becoming a billionaire requires perseverance, determination, and drive in addition to talent, creative ideas, and an entrepreneurial attitude.
That said, picking a niche that you’re passionate about is the most important recipe for this quest. It’s easier to persevere through the hard times for something you love.
Lastly, take action and keep making progress every day. Go for it, future billionaire. We’re rooting for you.
The statistics are from Visual Capitalist from the period between April 2020 to December 2020.
