Tech firms emerged third position in the list of industries with the most billionaires.
Several business-minded individuals in different sectors have been able to harness their skills to emerge billionaires, a feat which has been noticed to be easier in some fields than others.
According to the Forbes 2023 Billionaire Census report which analysed the database of thousands of people across the globe with net worths of over $1 billion, it was observed that some industries produced more billionaires than others.
At the top of the Forbes report was the Finance and investments sector with the highest number of billionaires (372). Manufacturing came second with 324 billionaires while Tech firms emerged in third position accounting for 313 billionaires during the period.
10 richest billionaires in the global tech industry
The list of the top 10 richest billionaires in the Tech industry was sourced from the Forbes Real-Time Billionaires Index and ranked according to the billionaires’ net worths.
S/NNameCompanyIndustryNet Worth1Mark ZuckerbergMeta platformsSocial media$152 Billion2Larry EllisonOracle corporationSoftware$146.2 Billion3Larry PageAlphabetSoftware, Socia media$138 Billion4Sergey BrinAlphabetSoftware, Social media$132.4 Billion5Bill GatesMicrosoftSoftware$128.7 Billion6Steve BallmerEx-MicrosoftSoftware$120.1 Billion7Michael DellDell CorporationComputers$95.8 Billion8Jensen HuangNVIDIA AI computing$77.2 Billion9Jeff BezosAmazonE-Commerce$198.9 Billion10Colin HuangPDD Holdings Inc.E-Commerce$44.7 Billion
The Business Research Company reports that in 2023, the global IT market was valued at $8.50 trillion. This figure is expected to rise to $9.03 trillion in 2024 and further hit $12.41 trillion in 2028.
Yahoo Finance reports that the prospects of hitting it big in Tech has been widened by the huge returns on Investments in the sector. The report took into consideration, Microsoft Corp’s trajectory in the industry, its capitalisation, and diverse businesses.
Although the Tech industry has experienced some rough periods with mass layoffs in some major firms, the industry remains the third most populous sector among the billionaires’ list and is collectively worth $1.9 trillion.
