The median age of a billionaire is around 67 years old, according to a recent report from data firm Altrata. Of the 3,194 billionaires worldwide, around 42% are over 70 years old, and fewer than 10% are under 50, CNBC reports.
Of the 3,194 billionaires worldwide in 2022, nearly half were between 50 and 70 years old. Moreover, more than 40 percent were above 70 years, whereas only 10 percent were below 50 years. A clear majority of the world's billionaires are men.
The average age of a first time millionaires is 37, it has been found. In data released by Betway Insider, the average age of a first time billionaire is also revealed: and is a little higher at 51.
Today's millionaires are still mostly older, with only 1 percent of families under 35 reaching that financial status, but it's becoming easier to reach the millionaire title over time and at a younger age.
By the time you reach age 40, prevailing wisdom says you should have a net worth equal to about twice your annual salary. Hopefully, you climbed the salary ladder a bit in your 30s, too. If you're making $80,000 annually, for example, your goal should be to have a net worth of $160,000 at age 40.
Clemente Del Vecchio became a billionaire at the age of 18. He has inherited a 12.5% stake in his father's holding company, Delfin, based in Luxembourg.
Zuckerberg took the company public in May 2012 with majority shares. In 2007, at age 23, he was the world's youngest self-made billionaire at the time. He has since used his funds to organize multiple philanthropic endeavors, including the establishment of the Chan Zuckerberg Initiative.
Bill Gates: Gates co-founded Microsoft with Paul Allen in 1975 when he was just 19 years old. The company went public in 1986, making Gates an instant millionaire at the age of 31. By 1987, he was worth $1.25 billion, and his net worth has since grown to over $100 billion.
In October 2023, Forbes declared that Taylor Swift had officially become a billionaire thanks to the earnings from her Eras tour and the value of her music catalog. No one disputes that she got where she is because of her unparalleled talent, relentless work ethic, and passionate support from millions of Swifties.
That the most common billionaire is a self-made man in his late sixties with a financial background makes sense: Older people have more time to build wealth, and baby boomers (men in particular) have had not only a longer, but easier road to their riches.
And while they might seem like they're everywhere, America's richest are few in number. Well, the billionaires at least. As of 2023, there are a mere 735 billionaires in the U.S. The millionaires are more plentiful—almost 22 million.
Forbes' youngest billionaire, 19-year-old Clemente Del Vecchio, tops the list with a $4 billion inheritance from his late father. He's among a diverse group of young billionaires, from heirs of eyeglass empires to self-made entrepreneurs in gaming, investments, and fish farming.
Researchers have long known that the rich live longer than the poor. Evidence now suggests that the life expectancy gap is increasing, at least here the United States, which raises troubling questions about the fairness of current efforts to protect Social Security.
Many billionaires were not born rich, but rather they built their wealth through hard work, determination, and a bit of luck. However, some billionaires come from wealthy families and inherited their fortune or inherited and expanded their family business.
There are several successful entrepreneurs who are known for their high IQ scores, such as: Jeff Bezos: The founder of Amazon, Bezos has an IQ estimated to be around 145. Mark Zuckerberg: The co-founder of Facebook, Zuckerberg has an IQ estimated to be around 152.
Jeff Bezos: 33
Amazon's founder and CEO became a self-made millionaire in 1997 at age 33 when Amazon's IPO raised $54 million. A quick two years later he achieved billionaire status at age 35.
In 1986, at age 56, Buffett's net worth had grown to the point where he became a billionaire. This achievement was particularly notable given that he was earning a modest salary of $50,000 from Berkshire Hathaway Inc. By the time he was nearing 60, his net worth had increased to $3.8 billion.
The title of the world's richest kid is held by none other than Princess Charlotte of Cambridge, with a wealth of $5 billion.
At 15, Valentina Pinault is the richest teen on this list if not the world -- although her net worth is based on her parents' net worth. Not only is she the daughter of actress Salma Hayek, but her dad is Francois-Henri Pinault -- a literal billionaire. And that means the sky's the limit for this teen.
A billionaire in the United States, Bryan Johnson, reportedly spends $2 million (about Rs 16.5 crore) per year to stay young.
1,821,745 Households in the United States Have Investment Portfolios Worth $3,000,000 or More.
Even under very dire circumstances, there's almost no way that $10 million isn't enough for you to retire at 50. Even if you parked the money in a checking account and didn't use it to generate further returns, you could live on $200,000 a year for 50 years before you ran out.
You can probably retire in financial comfort at age 45 if you have $3 million in savings. Although it's much younger than most people retire, that much money can likely generate adequate income for as long as you live.