How Long Does it Take to Become a Billionaire?

Visual Capitalist |

Courtesy of: Visual Capitalist

Years ago, a memorable exchange on Twitter took place after Canadian rapper Drake tweeted that “the first million is the hardest”.

Moments after, an unexpected reply came from Texan oil tycoon T. Boone Pickens:

Today’s infographic, also found here in interactive form, proves that Mr. Pickens may be on to something.



To get to a billion dollars, one has to make a million dollars at least 1000x over. While some people like Mark Zuckerberg have built companies that rapidly ascended the ranks, most people end up following the rule rather than the exception.

Credit Suisse says there are 33.7 million people that there were millionaires in 2015, and Forbes estimates that a mere 1,826 of these people are billionaires. That means only 0.0054% of millionaires become billionaires, making it quite a rare feat.

Whether you want to be the next Drake or the next Pickens, here’s a list of regions where immense wealth creation is happening, as well as the cities and countries with the most millionaires to help guide you.

Original graphic by: Fleximize
h/t:
Business Insider

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
FB Facebook Inc. 153.91 1.66 1.09 15,054,256 Trade

Comments

Private Markets

Initial State

Initial State is an Internet of Things (IoT) data analytics & data management platform company. We turn sensor and event data into information that matters by making it easy to…

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.