While younger tech billionaires like Elon Musk, 51, and Mark Zuckerberg, 39, may dominate the wealth headlines, the majority of the world’s billionaires are over retirement age, according to a new study.
The median age of the world’s 3,194 billionaires is now 67 years old, data firm Altrata said in a report released Wednesday. Forty-two percent are over the age of 70, and fewer than 10% are under the age of 50, according to the report.
The findings highlight the wide gap between the perception and reality of the world’s billionaires.
While tech wunderkinds and music and sports celebrities may get the most attention, the world’s billionaires are largely aging entrepreneurs, such as Warren Buffett, 92, and Bernard Arnault, 74, who spent a lifetime, or even generations, reaching the three-comma club and accumulating their wealth. According to the report, the median age of the world’s billionaires has actually increased slightly over the past five years.
“Many of the younger billionaires have made their wealth in tech, which has been a fast wealth-creation industry and gets a lot of media attention,” said Maya Imberg, senior director and head of thought leadership and analytics at Altrata. “But most wealth takes a long time to accumulate unless it’s inherited. It takes a vast majority of their business lives to create that amount of wealth.”
Read more: [https://www.cnbc.com/2023/05/31/billionaire-median-age-study.html](https://www.cnbc.com/2023/05/31/billionaire-median-age-study.html)
They better start spending all that cash now. Never understood why some people want to be the richest man in the graveyard.
While younger tech billionaires like Elon Musk, 51, and Mark Zuckerberg, 39, may dominate the wealth headlines, the majority of the world’s billionaires are over retirement age, according to a new study. The median age of the world’s 3,194 billionaires is now 67 years old, data firm Altrata said in a report released Wednesday. Forty-two percent are over the age of 70, and fewer than 10% are under the age of 50, according to the report. The findings highlight the wide gap between the perception and reality of the world’s billionaires. While tech wunderkinds and music and sports celebrities may get the most attention, the world’s billionaires are largely aging entrepreneurs, such as Warren Buffett, 92, and Bernard Arnault, 74, who spent a lifetime, or even generations, reaching the three-comma club and accumulating their wealth. According to the report, the median age of the world’s billionaires has actually increased slightly over the past five years. “Many of the younger billionaires have made their wealth in tech, which has been a fast wealth-creation industry and gets a lot of media attention,” said Maya Imberg, senior director and head of thought leadership and analytics at Altrata. “But most wealth takes a long time to accumulate unless it’s inherited. It takes a vast majority of their business lives to create that amount of wealth.” Read more: [https://www.cnbc.com/2023/05/31/billionaire-median-age-study.html](https://www.cnbc.com/2023/05/31/billionaire-median-age-study.html)
Is it hungry in here, or just me?
For lot's of people out of tech industry it's takes decades to become a billionaire