Taking the Jump From Millionaire to Billionaire

Taking the Jump From Millionaire to Billionaire

Have you thought about what it would be like to have not just a million dollars but a billion dollars? Maybe you wouldn’t work another day in your life, and just travel around the world. Go live on the beach and build your dream home. Whatever you would do with that much money, you are most likely set for life.

In a recent Betway Insider report, there are just over 2,000 people in the world who don’t have to worry about their bank account because they are one of the billionaires you dream about. The list includes many names you are probably familiar with, including Facebook founder Mark Zuckerberg, Microsoft founder Bill Gates or the founder of Amazon, Jeff Bezos.

What these three men all have in common, besides being billionaires, is they are in the technology industry. That is because, within the past two decades, the technology sector saw such a big boom that those who are the frontrunners have profited from it. But what makes the technology industry stand out, even more, is how quickly the average millionaire jumped into the billionaire status. It was slightly over seven years to make it into the “three-comma club.”

Some of the other industries that took the least number of years for the average person to become a billionaire was in automotive (just over 10 years), metals and mining (around 11 years), the energy sector (little over 11 years) and the fashion and retail industry (just shy of 15 years). The sector taking the longest time period for the average person to become a billionaire was in the gambling and casinos category.

So what do some of these people do to have so much money sitting in their account? For some, it may be through inheritance. But for others, it is a lot of hard work and dedication.

Invent and Innovate

Many people find money through invention. They have something they want to make better or develop something brand new to make someone’s life a bit easier. If you have the creativity and passion for creating something, no matter how small or complicated it may be, it could get you on the path toward the millionaire to billionaire status.

Being innovative means you are going after the needs of the customers and finding ways to help them with a smarter and more efficient service or product. It doesn’t have to be elaborate, but it just needs to catch the eye of the consumer.

Invest

Remember the name Warren Buffett, the self-made billionaire? Smart investments can take pennies and make them into dollars in a short time. Although investing does require extra research time and having a cushion for when the markets don’t work in your favor. But when you hit the right investment, it could be exactly what you need to put more zeros behind those commas.

Right Attitude and Mindset

Dedication is vital when you want to reach the millionaire then billionaire status. Having the right mindset is essential. Don’t let yourself get caught up in flashy investments that can take away everything you worked for. Remember there is always room for improvement and always something to learn.

But by keeping your attitude positive and your mind open, you’ll be able to continue down the path to eventually enter the three-comma club.