New research has revealed the shared traits of the world's richest entrepreneurs and money isn't the only thing top billionaires have in common.
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Juggling married life, a family and a career whilst trying to maintain some sort of social life? Well, according to a new study - time away from work and embracing family life actually helps you on the road to financial success.
Gocompare’s Billionaires League, an interactive tool that compares and contrasts some of the world’s richest and most successful people since 1996, reveals that 87% of billionaires are married, compared to 44% of the general population. Findings also show that 86% of billionaires have 2 to 5 children, whilst a mere 5% have no children at all.
Female entrepreneurship is on the rise. Women are breaking the glass ceiling as the number of female billionaires has risen by 50% in the last two decades, and 33% since the recession.
Despite the number of female entrepreneurs rising, men are still far ahead - as only 8 out of the 100 on the top 100 billionaires list are women. Liliane Bettencourt, heiress of L’Oréal, holds the position as the world’s richest woman with a net worth of $38.5 billion, whilst Bill Gates the world’s richest man has a total net-worth of $76.6billion.
Billionaires are also getting younger. The average age of the top 100 billionaires, has dropped by 5 years in just 12 months – which could suggest that millennials want to make a way for themselves and feel as though they can. With entrepreneurs like Mark Zuckerberg acquiring billionaire status at the age of 23, millennials are beginning to believe independence and financial freedom can be a reality regardless of age or funds.
As a result of aspirational figures like Zuckerberg, the number of self-made billionaires has risen 50% in two decades meaning it’s never been a better time to acquire billionaire status from nothing as it is today. Along with this increase in numbers - the total net worth of self-made billionaires has risen significantly, with an increase of 515% in just 20 years.
But not all billionaires have pulled themselves up by there boot-straps and many benefited from a good education before going into business.
Some 86% of billionaires have completed higher education, compared to the 28% average. Out of this 86%, 56% hold Bachelor’s degrees, 23% have a Master’s and 7% hold a Doctorate. However, Bill Gates - the world’s richest is known for dropping out of Harvard.
If you don’t live in the US you still may have a chance of becoming a billionaire, as your star sign may work in your favour. The findings show that Aquarians are much more likely to be billionaires, just like top media mogul Oprah Winfrey.
Aquarians tend to love independence, but hate feeling limited - key traits needed on the road to entrepreneurship. However, Cancer is the least common star sign - with just 5.9% of billionaires being a Cancerian.
The interactive tool was created by GoCompare.com, by examining individual studies and Forbes’ ‘Top 100’ lists over the last two decades. Click the link to check out the interactive tool.