In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. Here's a list of the seven best careers if you want to be a millionaire.
The highest paying jobs in the U.S. are all in medicine, according to the Bureau of Labor Statistics. Chief executives and airline pilots are also among the highest paid professions.
Calculating Net Worth
Someone with at least $1 trillion (or one trillion euros) of net assets would qualify as a trillionaire.
No matter how much their annual salary may be, most millionaires put their money where it will grow, usually in stocks, bonds, and other types of stable investments. Millionaires put their money into places where it will grow such as mutual funds, stocks and retirement accounts.
Andrew Carnegie, one of the wealthiest entrepreneurs of all time, once said that 90% of all millionaires. become so through owning real estate.
“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.
Dated ways of describing someone worth n millions are "n-fold millionaire" and "millionaire n times over". Still commonly used is multimillionaire, which refers to individuals with net assets of 2 million or more of a currency.
As an interesting side-note, most European countries use a slightly different naming convention for large numbers and refer to our trillion, as a “thousand billion” they reserve the word trillion for a million billion or 1,000,000,000,000,000,000.
Who is the richest man in the world? As of June 1, 2023, the richest man in the world is Bernard Arnault, the CEO and chairman of LVMH of France; he's worth $215 billion. He moved into the number one spot after Elon Musk's fortune fell in late 2022 as shares of electric carmaker Tesla fell.
That is one thousand times a billion (nine zeros followed by 1). Do you know that only 6 trillionaires ever lived on the face of earth? As of today, there are no trillionaires who live on earth.
Françoise Bettencourt Meyers – US$80.5 billion
The richest woman in the world this year hails from France, just like the richest man, Bernard Arnault. With over US$80 billion in the bank, Bettencourt Meyers' wealth is derived from her and her family's 33 per cent stake in L'Oréal.
The United States of America is home to 735 billionaires
The Forbes 2023 rich list reveals that 2,640 billionaires of the world hail from 77 countries or territories. The country with the highest number of billionaires is, unsurprisingly, the US.
Here's where the top five richest rappers stood in 2022, according to a report from former Forbes editor Zack O'Malley Greenburg: Jay-Z: $1.5 billion (October 2022) Diddy: $1 billion (October 2022) Ye: $500 million (October 2022)
Now, after a trillion, there comes a number known as quadrillion, and then we have other numbers following it. These numbers are quintillion, sextillion, septillion, octillion, nonillion, and decillion.
Therefore, 7 trillion is equal to 7000000 million.
After a billion, of course, is trillion. Then comes quadrillion, quintrillion, sextillion, septillion, octillion, nonillion, and decillion.
You might need $5 million to $10 million to qualify as having a very high net worth while it may take $30 million or more to be considered ultra-high net worth. That's how financial advisors typically view wealth.