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Entrepreneurs / Billionaires

62 Percent of American Billionaires Are Self-Made

62 Percent of American Billionaires Are Self-Made
Image credit: Shutterstock
Senior Entrepreneurship Writer at CNBC
1 min read
Opinions expressed by Entrepreneur contributors are their own.

America’s uber rich have, overwhelmingly, climbed to the top on their own, according to a new report.

Of the 585 billionaires in the U.S., 363 -- or 62 percent -- made their fortunes themselves, says the report by Singapore-based market research company Wealth X in collaboration with Wall Street Journal’s Custom Studio. Another 105, or 18 percent, achieved the coveted billionaire status through a combination of inheritance and making their own wealth. The remaining 117 American billionaires inherited their wealth.

Related: The Top 25 Self-Made Billionaires In the World

So, what do those American billionaires splurge on? Planes, yachts and art. Nearly one in five American billionaires own a private plane, while about one in 10 has a yacht, according to the report. Slightly less than one in 10 billionaires in the U.S. collect art and about one in 20 own a sports team.

While nearly 20 percent of these American billionaires made their wealth in financing, banking and investing, entrepreneurs are also well represented. According to a previous report from Wealth X, of the top 25 wealthiest self-made billionaires, 14 are American entrepreneurs.

Related: The Wild and Crazy Career Paths of 5 Self-Made Billionaires (Infographic)

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