6 Unlikely Characteristics Common Among Billionaires | Entrepreneur (2024)

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What do the wealthiest people on this planet have in common? A great business sense? Luck? A strong work ethic? The likely answer is a combination of all of these and much more. However, when we look at the characteristics of successful entrepreneurs and investors, we tend to limit ourselves to typical business traits and disregard features like physical attributes or family life.

But what if these seemingly trivial aspects can give an indication of your potential to make billions? Take a look at GoCompare's study of the top 100 billionaires over the last 20 years. At first glance some of the following traits may seem unrelated to making money, but they might just be the hidden key to becoming rich

1. Invest in your family.

Are you married? Do you have three children? Statistically, you're most likely to be a billionaire if your family looks something like this: Among the world's richest, 87 percent are married and 63 percent have three of more children. Naturally, having a large family does not guarantee success, yet it seems that the emotional support family and marital life brings with it, might aid individuals in dealing with the stress and ambiguity of entrepreneurship.

Related: 25 Common Characteristics of Successful Entrepreneurs

2. No school of hard knocks.

Although 14 percent of the 100 richest people in the world since 1992 have had no formal education at all or were college dropouts, attending certain universities and studying a few select subjects could increase your chance of making it big. The most popular universities amongst the world's billionaires are the famous elite institutions Harvard University and Stanford University, renowned for producing a league of influential entrepreneurs and world leaders. The most popular degrees cover a variety of sectors and include engineering, economics, computer science and business administration.

3. Successful star signs.

Regardless of your opinion towards horoscopes and astrology, there is some evidence that certain star signs are linked to more successful people. Among the world's top billionaires, 12.5 percent are Aquarius, who are said to be independent and inventive, traits that arguably come in useful for entrepreneurs.

On the other hand, the least represented star sign is Cancer, with only 5.9 percent of billionaires born between late June and July. Cancerians are linked to traits such as tenaciousness, but also tend to be insecure, a potential obstacle on the path to success.

4. Let's get physical.

If you have a bald spot and you're wearing glasses, you may be in luck. The number of balding billionaires has risen throughout the last two decades, a trend that can largely be explained by the fact that the people on the list are ageing. However, stressful periods, such as the financial crisis, seem to have an impact on hair loss, which saw a sharp increase between 2008 and 2009.

Related: The 7 Traits of Successful Entrepreneurs

Currently, 41 percent of the 100 richest billionaires wear glasses. Although this figure is lower than the 64 percent of the total U.S. population that needs glasses, there are still a significant amount of billionaires who clearly haven't opted for laser eye surgery.

5. It's still a boy's club.

While the number of successful female billionaires, like Liliane Bettencourt and Alice Walton, is on the rise, there are still only eight women among the 100 richest people, making it far more likely to become a top-grossing billionaire if you're male. Furthermore, although these female entrepreneurs worth billions often hold important positions in their respective companies and have succeeded in growing existing businesses further, all of them have inherited their wealth. This is especially interesting; as overall, an impressive 69 percent of billionaires are self-made.

Related: 5 Key Characteristics Every Entrepreneur Should Have

6 Origins of success.

Could your country of origin be an indicator for your success potential? According to Go Compare's figures, yes. China may have now overtaken the United States with the highest number of total billionaires amounting to 596. However, 40 of the 100 richest billionaires, among them Bill Gates, Warren Buffet and Jeff Bezos, are from America. Further countries with high numbers of billionaires include Germany, Russia and France. Possible explanations for this geographical bias may lie in America's promotion of the "American Dream" story and a solid network of angel investors and venture capitalists, which both provide a positive environment for innovation.

Looking at the factors mentioned above, we see that even traits that seem far-fetched can be an indicator for success, if they are viewed in the right context. There is no magic recipe for becoming rich, yet understanding what influences wealth is a good start. From what we can see here, if you're a married, male Aquarius with three kids, have a degree from Harvard, a bald spot and an American passport, the odds of becoming a billionaire are on your side!

6 Unlikely Characteristics Common Among Billionaires | Entrepreneur (2024)

FAQs

What are the most common billionaire traits? ›

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 most common thing in billionaire? ›

The most common traits among billionaires are work ethic and refusing to give up.

What is the most common way people become billionaires? ›

While people have gotten super-rich in everything from soy sauce to palm oil to damaged cars, being in finance, whether private equity or hedge funds or venture capital, is the most common way the world's wealthiest got so rich.

How do you identify a billionaire? ›

A billionaire has a net worth of at least one billion units in their native currency. Net worth is the value of a person's assets, minus the liabilities they owe.

Who is the kindest billionaire in the world? ›

Here are the billionaires who give away the most money, according to Forbes
  • Warren Buffett. Warren Buffett has a lifetime giving of $56.7 billion. ...
  • Bill Gates and Melinda French Gates. ...
  • George Soros. ...
  • Michael Bloomberg. ...
  • MacKenzie Scott. ...
  • Jim and Marilyn Simons. ...
  • Mark Zuckerberg and Priscilla Chan. ...
  • Steve and Connie Ballmer.
Mar 5, 2024

What do richest people in the world have in common? ›

In fact, many of the world's richest people built their wealth over many years (sometimes even generations) by making smart but often bold decisions, putting their skills to the best use possible, and doggedly pursuing their vision.

What is the billionaire mindset? ›

Billionaires trust their instincts and know when to seize opportunities. They think big, take calculated risks, and refuse to let their creative imagination be hindered by others' opinions. Rather than listening to nay-sayers, their independent thinking and reliance on their judgment propel them to sustained success.

What do billionaires focus on? ›

The billionaires of the world have become wealthy by using and developing resources, and by satisfying needs and wants of a population. Many of them have set up businesses or corporations which employ thousands of people and sell goods or services to millions of people.

Which profession has the most billionaires? ›

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.

What gender has more billionaires? ›

While the majority of those listed on Forbes' “Richest in 2024” list are men, 15 out of the 195 billionaires globally are, in fact, women. The Madams of money reside in places like France, India and here in the United States, with industries ranging from fashion and retail to technology.

Who is the youngest billionaire? ›

Clemente Del Vecchio

Clemente was at one time the world's youngest billionaire (at the age of 18), but he has since aged out of that title, which is now held by Livia Voigt.

How to tell if someone is well off? ›

Here are eight subtle ways you can tell that someone is a millionaire.
  1. They Value Their Time. ...
  2. They Don't Talk About Money. ...
  3. Their Things Are Customized. ...
  4. They Own Multiple Properties. ...
  5. They Have an Expensive Hobby. ...
  6. They Are Well-Traveled. ...
  7. They Can Speak Multiple Languages. ...
  8. The Keep a Close Circle.
Aug 11, 2023

How to tell if you're rich? ›

One way to define being rich is having a high net worth. To be considered rich, you'll need to have more assets—and/or fewer liabilities—than others.

What phone do billionaires use? ›

Bill Gates uses a folding Android phone – Samsung Galaxy Z Fold 5. Bill Gates, co-founder of Microsoft, net worth 124 billion USD, uses a Galaxy Z Fold 5 right now, and a Z Fold 4 before that. And the Z Fold 3 before that! He's basically been sticking with Samsung through most of its folding growing pains.

What makes a person a billionaire? ›

A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultra high-net-worth individual.

What mindset do billionaires have? ›

Billionaires trust their instincts and know when to seize opportunities. They think big, take calculated risks, and refuse to let their creative imagination be hindered by others' opinions. Rather than listening to nay-sayers, their independent thinking and reliance on their judgment propel them to sustained success.

What is the most common job for billionaires? ›

Top 15 Careers That Can Make You a Billionaire
  • Investment banker.
  • Author.
  • Athlete.
  • Entrepreneur.
  • Lawyer.
  • Real estate developer.
  • Surgeon.
  • Inventor.
Mar 1, 2024

How intelligent are billionaires? ›

A recent Swedish study showed that cognitive test scores of the top 1% of earners were not significantly different to the scores obtained by those who earned slightly less.

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