What Percentage of Billionaires Are Self-Made?

The allure of extreme wealth often sparks questions about its origins: are vast fortunes primarily inherited or built from the ground up? This fascination reflects a broader societal interest in economic mobility and the narratives of success. Exploring the world’s wealthiest individuals offers insights into wealth creation and accumulation in the modern era.

Defining Self-Made Wealth

The concept of “self-made” wealth is more nuanced than it might initially appear, with various wealth-tracking organizations employing different criteria. Forbes utilizes a scoring system from 1 to 10 to categorize billionaires based on how their fortunes were amassed. A score of 1 indicates inherited wealth with no active effort to grow it, while a 10 signifies someone who overcame significant adversity, such as poverty, to build their fortune. Individuals scoring between 6 and 10 are considered self-made, having established their wealth independently or built significantly upon a modest head start.

This scoring system acknowledges a spectrum, differentiating between someone who inherited a small sum as seed capital and someone who received a vast, established fortune. For example, a score of 7 might denote someone who had wealthy parents but built their own company, while an 8 is for those from a middle-class background. The key distinction lies in whether the individual was primarily responsible for creating their wealth rather than merely managing or slightly expanding an existing inheritance. This methodology aims to provide a clearer picture than a simple binary classification.

The Current Percentage of Self-Made Billionaires

Globally, as of June 2025, 67% of the total 2,838 billionaires worldwide are classified as self-made, with the remaining 33% having inherited their wealth. The Hurun Global Rich List 2023 reported a similar figure, with 70% of billionaires being self-made.

In the United States, the proportion of self-made billionaires is slightly higher than the global average. Data from June 2025 shows that 73% of American billionaires amassed their fortunes independently. While the overall number of billionaires fluctuates annually, the dominance of self-made wealth has remained a consistent trend in recent years.

Common Attributes of Self-Made Billionaires

Self-made billionaires often exhibit common attributes that contribute to their success. A strong entrepreneurial spirit is observed, as many are business owners or self-employed individuals. They possess an intense focus on results, demonstrating drive and determination to achieve their objectives. This relentless pursuit of goals is coupled with a high tolerance for risk, as they make aggressive investments or venture into new, unproven areas.

Innovation plays a role, with many self-made billionaires creating value by identifying unmet needs or developing novel products and services. Industries such as technology, finance, and manufacturing are common pathways to self-made wealth. Beyond specific sectors, attributes like strong work ethic, self-confidence, problem-solving abilities, and persistent adaptability are noted. These individuals demonstrate foresight, envisioning future possibilities and leveraging their skills to capitalize on emerging opportunities.

Global and Historical Context

The landscape of self-made wealth has seen notable shifts over time and varies significantly across different regions. Historically, inherited fortunes constituted a larger share of the wealthiest individuals. For instance, in 1984, less than half of the Forbes 400 list was considered self-made. This trend began to change, and by 2014, 69% of the Forbes 400 were deemed self-made, indicating a clear shift towards earned wealth. This evolution reflects broader economic changes, including technological advancements and the growth of new industries that have enabled entrepreneurial success.

Geographically, there are differences in the percentage of self-made billionaires. As of June 2025, countries like China and Russia lead with a 97% self-made rate, reflecting dynamic economic environments and significant entrepreneurial activity. In contrast, many European countries exhibit a lower proportion of self-made billionaires, with Germany having 25%, Spain 26%, and Italy 36%. These disparities point to differing economic systems, market maturities, and cultural attitudes towards inherited wealth versus entrepreneurial endeavors, with some European nations retaining dynastic wealth structures.