January 15, 2021
The next billionaire-making industries in 2021
2020 has been a tough year for everyone. Fortunately, with vaccines currently being rolled out, there feels like some semblance of normality returning in the not too distant future. The proverbial light at the end of the tunnel in the form of a hypodermic needle.
This is a huge collective sigh of relief for businesses, none more so than for the travel industry which has been severely hit by the COVID-19 pandemic.
That being said, there have been some industries that have been doggedly resilient and some have even surprisingly prospered during the pandemic. The same can be said about the millionaires and billionaires that run the many conglomerates around the world. And earlier in 2020, this very sentiment can be perfectly encapsulated in the form of Jeff Bezos. The 56 year old managed the incredible feat of becoming the world’s first person to amass $200 billion dollars, despite the global pandemic.
With hope that 2021 could be the year of recovery for the global community, opportunity awaits the boldest of entrepreneurs and investors. As with any global catastrophe, growth follows. The question is – what’s next?
Here are few areas where we could see the next line of multi-millionaires and billionaires arise from the COVID-19 ashes:
Online communication & organisation platforms
These platforms have been invaluable in helping businesses continue to operate during the coronavirus outbreak. Zoom owner, Eric Yuan, was already a billionaire prior to 2020, with Zoom going public in April 2019. However, he’s now one of the world’s 100 richest people with Zoom shares worth almost $17 billion. This area is predicted to grow by 43.4% over the next 7 years. We can expect an influx of multi-millionaires and billionaires made from this arena.
With so many working from home, and with that trend expected to grow even after the pandemic, there are a multitude of security issues that come with that. Be that customer details such as personal information like addresses, phone numbers and even bank details. Or sensitive company information. The list goes on.
Now cyber security isn’t a new industry, however, a whole new layer has been added to it with the increase of working from home. And this is something that affects all industries.
To put this into perspective, cybersecurity has become the UK’s fastest growing start-up sector during COVID-19. Cybersecurity start-ups have increased by 940% since March 2020.
They’ll be in good company. “By 2026, 77% of cybersecurity spending will be for externally managed security services”, Forbes. Now is a very good time to get in at the ground level.
It’s no secret that education has been majorly disrupted over the past year, with exams even this year potentially postponed. However, many classes were switched to an online-only format. Moreover, 63% of university leaders believe that universities would have full university courses available for online study by 2030, according to Times Higher Education.
This is no different in the private sector, with many corporations looking to capitalise on this potentially lucrative sector. Some already are for instance, Duolingo, the leading language learning app, saw an 148% increase in sign-ups in the US alone during March 2020. The man behind the app, former CAPTCHA creator, Luis Von Ahn, now valued at $700m (June 2020).
This is a huge area for future multi-millionaires and billionaires to make their mark.
Naturally, there are other multi-millionaire and billionaire-making industries also on the rise. There are even interesting games-based companies, such as Goobig, whose ultimate aim is to create one billionaire, along with crowning 59 millionaires along the way. The unique and first-of-its-kind company is due to launch later this January.
The luxury lifestyle awaits you. What are you waiting for? Make it happen.