From Code to Cash: Why Techies Rule the Forbes Billionaire List
BY AMAY SETHI
Almost all of us, at some point throughout our lives, have fantasized about being the richest person on the planet, owning more wealth than the Ambani’s, Adani’s, Tata’s, and everyone else on the earth, haven't we?
While it's admirable to aspire to be the wealthiest person on the planet, achieving this goal is quite difficult but there is undoubtedly a career route that seems to make it simpler, TECH!
In 2024, out of the top 10 billionaires in the Forbes List of Billionaires, 8 have made their fortunes out of tech including Elon Musk, Mark Zuckerberg, Bill Gates, and others. With around 342 billionaires making their fortunes through technology, these tech magnates have a combined net worth of approximately $2.6 trillion, representing the most significant sector in billionaire wealth by both size and annual growth but the real question is why?
Well, firstly, unlike other industries, technology develops and matures at the speed of lightning. For instance, Mark Zuckerberg wrote the first code for TheFacebook.com in 20 days, and within 8 months of the site's launch, it had 1 million users. And with the rising tech awareness and utilization, the current rate of technological expansion is inevitable.
Secondly, the beauty of tech businesses lies in their ability to generate value 24/7. Whether you’re placing an Amazon order at 3 AM or binging Netflix until sunrise, these companies make money while you sleep. This round-the-clock operation ensures continuous revenue, unlike oil rigs or real estate developments with limited hours. Many of today’s tech giants began humbly in garages or dorm rooms, with Steve Jobs, Larry Page, and Sergey Brin proving that innovative ideas paired with ambition can turn anyone into a billionaire.
Moreover, the future is tech, let’s be real: It wasn’t always glamorous to be a tech nerd. But times have changed! Today, CEOs like Musk and Bezos are treated like rock stars. With millions of Twitter followers, they’ve transitioned from being seen as geeks to becoming cultural icons. This shift was highlighted by the recent SpaceX milestone of successfully landing the Starship in midair, which sparked widespread discussion about Elon Musk on Twitter. This charisma helps attract investors, talent, and media buzz, further fueling their empires to grow even more.
Since the tech sector is so diverse, it is displacing positions and possibilities in other industries, and those industries that cannot adjust to the new developments are falling farther down the list of the ones with hefty pockets.
In this era, technology isn’t just an industry—it’s a lifestyle, a movement, a necessity. The next billionaire may not come from Dalal Street or a luxury clothing or watch brand but from a laptop in a coffee shop. And who knows? That future mogul might just be you.
