Why One Personality Type Tends to Make the Most Money | The Motley Fool (2024)

Have you ever asked yourself why some people make more money than others? Since the late 1970s, the gap between rich and poor in the U.S. has been steadily widening. Today, income inequality is an undisputed reality for the vast majority of Americans.

In his 2012 State of the Union address, President Barack Obama described this burning problem as "the defining issue of our time."However, he stressed that "if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement".

But what if you want to achieve more than that? What does it take to become filthy rich?

Why One Personality Type Tends to Make the Most Money | The Motley Fool (1)

Image source: Getty Images.

If you are a rationalist, chances are you are richer than your neighbor

According to the Myers-Briggs Type Indicator (MBTI) -- a psychometric questionnaire based on the famous psychologist Carl Jung's typological theories -- there are 16 possible personality types,divided into four categories: artisans, guardians, idealists, and rationalists.

An in-depth infographic I stumbled upon recently from the Career Assessment Site shows thatof all of these personality types, a specific type of rationalists -- the ENTJ --scores the highest average household income. Idealists, on the other hand, and especially those who fit with the INFP description -- in other words, are more affectionate, calm, and shy than others -- are less likely to cash in on their traits.

Why One Personality Type Tends to Make the Most Money | The Motley Fool (2)

Source: Career Assessment Site

So, next time you ask yourself why your neighbor drives a Lamborghini while you are stuck with an old Volvo, you'll know the answer. Apparently, when it comes to your earning potential, your character makes all the difference.

How do ENTJs stay ahead of the game?

In general, rationalists are visionary people, but, at the same time, very practical. If they see a problem, they fix it. ENTJs in particular are good with money, determinant to the point where they intimidate those around them, and they are always in the driver's seat. They don't settle for second best. They aim for the stars. To put it differently, ENTJs are the kind of people most likely to run the show.

Not surprisingly, some of the big names in the business world suit this type, including Bill Gates and investing guru Warren Buffett. The late Steve Jobs was also, according to experts, the epitome of an ENTJ personality.

ENTJs think ahead to the future and approach problems from several different angles.

"Someone's sitting in the shade today because someone planted a tree a long time ago," Warren Buffett once observed.

"Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks,"he told shareholders back in 1985 when discussing his worst ever investment, the textile mill that gave its name to his financial powerhouse, Berkshire Hathaway.

Moreover, ENTJ personalities don't deal well with inefficiency and they loathe incompetence. They can be harsh and unforgiving when they realize that someone or something has failed to live up to their expectations.

In the summer of 2008, Apple launched MobileMe, its first real stab at a cloud storage and delivery service. But it got off to a terrible start. It failed to impress users and proved to be one of Apple's major missteps. Jobs was hopping mad at the MobileMe team. "You've tarnished Apple's reputation," he yelled at them, and he didn't think twice before naming a new team leader.

Last but not least, people with this kind of personality can come across as arrogant. They have a very high self-esteem and do not hesitate to be honest and straightforward. However, often their self-confidence turns into arrogance.

In the early 2000s, Bill Gates was at loggerheads with Judge Thomas Jackson, who had announced that Microsoft was an illegal monopoly that had to be split into two. The judge told The New Yorker at the time: "I think he [Bill Gates] has a Napoleonic concept of himself and his company, an arrogance that derives from power and unalloyed success, with no leavening hard experience, no reverses."

Can you train yourself to become a millionaire?

Old habits die hard. People may be forced to develop certain traits or habits temporarily depending on the circ*mstances. Nevertheless, at the end of the day, we are who we are.

Is it just a coincidence that rationalists in the U.S. claim a 10.3% share of the population and, at the same time, the top 10% of richest households make up for around half of the income earned last year?

Or is it by a stroke of luck that, based on an analysis conducted by economist Emmanuel Saez, over the 20-year period between 1993 and 2012 the top 1% of U.S. earners saw its income's real growth climb as much as 86%?

Buffett believes that "if you're in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99% percent."But, do all rationalists think like that?

Why One Personality Type Tends to Make the Most Money | The Motley Fool (2024)

FAQs

Which personality type earns the most money? ›

The personality type that makes the most

Out of the 16 personality types, those with the ENTJ (someone who aligns with Extraversion, Intuition, Thinking, Judging) personality type on average earn the most money. ENTJs are natural born leaders.

Which personality type is most likely to get rich? ›

Traits With the Highest Earning Potential

Based on the above four dimensions, extroverts, sensors, thinkers, and judgers tend to be the most financially successful. Diving into specific personality characteristics, certain traits are more closely correlated with higher income.

Which personality is most likely to be successful? ›

INTJ: The Architect

INTJs, often considered as the most successful personality type, go by the names Mastermind or Architect; fitting descriptions for this personality type.

Which personality type is most successful in business? ›

There's no “best” type, but there are trends for each including the career or job they tend to be most successful in. The ESTPs, ENTPs, ESTJs, ENTJs, INTJs, and ISTJs are the most common personality types for entrepreneurs and business owners.

What is Elon Musk's personality type? ›

Musk's personality type is often described as INTJ, which stands for introverted, intuitive, thinking, and judging. Individuals with this personality type are known for their strategic thinking, independence, vision, and determination.

What personality type are millionaires? ›

The two studies consistently found that rich people are more conscientious, open to experience, and extraverted than the average population. They are also less agreeable (that is, less likely to shy away from conflict) and less neurotic (as in, more psychologically stable).

What is the kindest personality type? ›

1. ESFJ. People who fit the ESFJ personality type can usually be recognized by their big hearts and kindly manner. ESFJs are warm and welcoming and their love of tradition means they value good old-fashioned manners highly.

What is the smartest personality type? ›

Finally, according to the ranking, the INTP type is considered the 'smartest' personality. Their strengths lie in their quest for understanding and their open-minded approach to problem-solving. They are relentless in their pursuit of knowledge, often excelling in fields that demand theoretical depth and innovation.

What personality type are most CEOs? ›

ENTJs are essentially the highly effective leaders, the CEO s, the Field Marshalls. Among the types of entrepreneurs, they re the rarest personality type in MBTI and are most likely to think of options in face of obstacles.

Which personality type is attractive? ›

People are attracted to the ISFP personality type because of their creativity. They love to come up with new ideas, making them natural trendsetters. People love the fact that they enjoy being different and establishing their own creative path. ISFPs are free-spirited people, which is also their most attractive trait.

Which personality trait is most successful? ›

Traits of successful people
  1. Leadership. Successful people are typically strong leaders. ...
  2. Self-confidence. Self-confidence is another trait that successful people often have. ...
  3. Aspiration. Another trait that contributes to success is aspiration. ...
  4. Drive. ...
  5. Patience. ...
  6. Discipline. ...
  7. Communication. ...
  8. Integrity.
Jun 24, 2022

Which personality type is the most leader? ›

ENTJ: The commanding leader

They excel at setting goals, creating clear plans for what they want to achieve, and guiding their teams to success. Individuals of this personality type are confident in their decisions and typically have little trouble achieving even the most ambitious objectives.

What MBTI type is most money driven? ›

Commanders (ENTJ)

They make money the foundation of many life decisions, including educational and career choices. They are the personality type most likely to equate money with influence.

What personality type is a high achiever? ›

The Achiever, also called Three, is a personality type focused on accomplishments and success. Their identities are attached to their achievements. They achieve in order to receive external validation, which feeds their need to feel worthy. That is at the core of this personality type.

Which personality type is the most generous? ›

ESFP - The Performer. "Most Generous"

ESFPs are typically warm and talkative and have a contagious enthusiasm for life.

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