Ever wondered where the world’s millionaire CEOs are hiding? Well, closer to home than you think. New research conducted by Compelo has found that London is actually the city with the most millionaire CEOs.
One of London’s most successful and well known CEOs is Virgin founder Richard Branson. He is worth an estimated $5.5 billion.
However although London is the city with the most millionaire CEOs, America is actually the country with the most.
Nearly half ― 48% ― of all millionaire CEOs reside in the US. This is followed by the UK and France, with 8% and 4% respectively. When broken down by city, however, London is home to the largest number of millionaire CEOs.
The official rankings
Here are the official rankings by Compelo and Wealth Insight.
|Rank||City||Percentage of total|
Who is a typical millionaire CEO?
The average millionaire CEO is a 58-year-old male with a wealth ranging between $5m and $30m. Surprisingly though, 50% of millionaire CEOs are self-made, meaning that they created their own business of which they now hold the post of CEO. Only 38% of millionaire CEOs made their wealth from a salaried position. A small 7% acquired their wealth through family money. The most shocking find is that only 5% acquired their wealth from inheritance.
What industries do they work in?
|Industry||Percentage of Millionaire CEOs|
|1||Tech & Telecoms||18%|
|2||Financial Services & Investments||15%|
|3||Retail, Fashion & Luxury Goods||8%|
|8||Energy & Utilities||5%|
|10||Transport & Logistics||4%|
|12||Hotels, Restaurants & Leisure||3%|
|13||Construction & Engineering||3%|
Despite employing the highest volume of millionaire CEOs, tech and telecoms is actually the worst industry for their wealth. CEOs working in tech and telecoms have an average wealth between $1m and $5m, despite the sector seeing explosive growth globally.
The industry that has the least CEOs at 2% but has the wealthiest is ‘diversified’. These are companies that are active in multiple sectors such as Koch Industries, run the billionaire CEO Charles Koch, or Virgin whose former CEO Richard Branson is worth an estimated $5.5 billion.
This research on the most millionaire CEOs in the world was conducted by Compelo and Wealth Insight.