Snapshot of the Average Billionaire

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In my Rich Habits Study I focused my research on individuals who had amassed at least $3.2 million in net assets and also generated $160,000 or more a year in income. I was able to document over 300 data points on the rich and my study has been highlighted in 25 countries.

Well, Wealth X does something similar. Every year they gather data on some of the details of all of the world’s billionaires. It’s a massive undertaking. I thought I’d share with you some of their findings and then compare it to my findings on millionaires. Let’s get started:

  • 87% of the Wealth X billionaires were self-made. 76% of the millionaires in my Rich Habits Study were self made.
  • The average age of a Wealth X billionaire was 63. In my Rich Habits Study 21% of the millionaires were over age 60, 31% were between age 56 – 60, 28% were between age 51-55, 16% were between age 46 – 50 and 4% became millionaires before the age of 46.
  • 70% of the Wealth X billionaires had a bachelors degree, 22% had a masters degree, 13% had an MBA, 10% had a PhD and 4% had either a law degree or were doctors. In my Rich Habits Study 68% had a bachelors degree and 25% had a post bachelors degree. What is most interesting about both studies is that 30% or more of the billionaires and millionaires did not have a college degree.
  • 13% of the Wealth X billionaires had inherited their wealth. In my Rich Habits Study, 24% had inherited their wealth.
  • 56% of the Wealth X billionaires were engaged in philanthropy (charitable causes). In my Rich Habits Study 52% of the millionaires were on the board of directors of some charity or non-profit organization and 78% were involved in some charity or non-profit organization.
  • 85% of the Wealth X billionaires were married. In my Rich Habits Study 93% were married.
  • 7% of the Wealth X billionaires were divorced. In my Rich Habits Study 32% of the millionaires were divorced at least once. Some remarried, some stayed single.
  • The average number of children of a Wealth X billionaire was 3, which was the same in my Rich Habits Study.

As you can see there are not many differences between the Wealth X billionaires and my Rich Habits millionaires.

 

Thomas C. Corley About Thomas C. Corley

Tom Corley understands the difference between being rich and poor: at age nine, his family went from being multi-millionaires to broke in just one night, due to a catastrophic fire that destroyed his Dad's thriving business. For fourteen years they struggled with poverty. There were eleven in Tom's family, and they lived in constant fear of losing their home.

Driven by the desire to unlock the secrets to success and failure, Tom spent five years studying the daily activities of 233 rich people and 128 poor people. He discovered there was an immense difference between the habits of the rich and the poor. During his research he identified over 300 daily activities that separated the “haves” from the “have nots.” Tom decided to write a book to share what he learned. That book, Rich Habits: The Daily Success Habits of Wealthy Individuals (1st Edition), went on to become an Amazon Bestseller in the United States forty times over a three year period. To give you some perspective, in order to be a true Amazon Bestseller in the United States, where you actually receive a specific Bestseller designation from Amazon, you need to be in the top 100 of all books sold by Amazon in the United States in a given day. Rich Habits did that for nearly thirty straight days, rising as high as #7, eclipsing such Bestselling authors such as Stephen Covey, Robert Kiyosaki and J.K. Rowlings. Imagine that - an unknown, first-time, self-published author selling more books than J.K. Rowlings!

Tom now travels the world, sharing his Rich Habits and motivating audiences at industry conferences, corporate events, universities, multi-level marketing group events, and global sales organizations’ presentations and finance conferences. He has even spoken on the same stage with famous entrepreneurs and personal development experts, such as Sir Richard Branson, Robin Sharma, Dr. Daniel Amen, and many others.

Tom has shared his insights on various national and international network, cable, and Internet television programs such as CBS Evening News, NBC News, Yahoo Financially Fit, Money.com, India TV, News.com Australia, and a host of others. He has been interviewed on many prestigious nationally syndicated radio shows, including the Dave Ramsey Show, Marketplace Money, and WABC.

Tom has been featured in numerous print magazines—such as Money magazine, Inc. Magazine, SUCCESS Magazine, Entrepreneur magazine, Fast Company magazine, More magazine, Epoca Magazine (Brazil’s largest weekly) and Kiplinger’s Personal Finance magazine—and various online publications, including USA Today, CNN, MSN Money, SUCCESS.com, Inc.com, and the Huffington Post. Tom is a frequent contributor to Business Insider, Credit.com, Bankrate.com and a few other media outlets.

National publicity has garnered international media attention for Tom and his Rich Habits research spanning 23 countries. Broadcast media, online publications, and television throughout Asia, the South Pacific, Europe, the United Kingdom, and Central and South America have shared his powerful message.

In an effort to help parents, grandparents, teachers and adults become success mentors to the younger generation, Tom released his second book, Rich Kids: How to Raise Our Children to be Happy and Successful in Life in 2014. This book was the self-help category winner of the 2015 New York Book Festival and Runner-up in the prestigious 2015 Writer’s Digest Self-Published Book Awards Contest. In 2016 Tom released his third book, Change Your Habits, Change Your Life. This book provides the latest science on habit change as well as more of Tom's unique research on the specific habits that helped transform 177 ordinary individuals into self-made millionaires.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
 
Phone Number: 732-382-3800 Ext. 103.
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  1. […] In my Rich Habits Study I focused my research on individuals who had amassed at least $3.2 million in net assets and also generated $160,000 or more a year in income. I was able to document over 300 data points on the rich and my study has been highlighted in 25 countries. Well, Wealth X does…  […]

  2. […] In my Rich Habits Study I focused my research on individuals who had amassed at least $3.2 million in net assets and also generated $160,000 or more a year in income. I was able to document over 300 data points on the rich and my study has been highlighted in 25 countries. Well, Wealth X does…  […]

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