What occupation produces a lot of millionaires? (2024)

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What occupation produces a lot of millionaires? ›

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.

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.

Financial Services

The financial service industry has created the most number of millionaires since modern times, according to the Wealth Report. In the business of money, people make a lot of money. Behind the most successful ventures in the world are people and organizations skilled in deploying and growing money.

Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined.

Jobs that pay $1 million dollars a month include franchise owners with multiple locations. For example, Shaq owns lots of 24-Hour Fitness clubs. Franchise owner is on the list of jobs that pay $1 million dollars a month because it's achievable if you think big.

What creates the most millionaires? ›

Energy is one of the industries that makes the most money in the world and hence, most billionaires. Companies like ExxonMobil, Saudi Aramco, and Chevron dominate this landscape, propelled by the perpetual demand for oil, gas, and renewable energy sources.

However, even some ultra-rich people themselves believe the world's first trillionaire will come from the tech space.

Rich people often find themselves poor after making bad financial decisions. According to a blog by renowned penny stock investor Timothy Sykes, the average millionaire goes bankrupt at least 3.5 times. The reasons rich people go broke are not all that different than the reasons anyone goes broke.

To enter this high-end club, you must have a minimum net worth of around $11.1 million. Millionaires comprise about 8.8% of the American population. The average net worth of a millionaire in the U.S. is $2.2 million, according to Charles Schwab's 2022 Modern Wealth Survey.

Many self-made millionaires have money coming in from several places, including their salaries, dividends from investments, income from rental properties and investments they have made in other business enterprises, to name a few examples.

1. Harvard University. Learn more about Harvard University.

The highest earners with a bachelor's degree tend to be engineering and computer science majors, with median annual salaries of $96,000 and $91,000, respectively. By comparison, a postgraduate degree boosts their annual earnings to $127,000 and $120,000, respectively.

The education background of CEOs

The Bachelor of Arts and Bachelor of Business Administration was the most popular undergraduate degrees among Fortune 100 CEOs, with 53% of CEOs identified as having obtained one of these two degrees.