“There are simpler ways to make money than establishing new cars and truck brands”

Billionaires are still rare, however breeding faster. eight years ago, there were fewer than 800, collectively worth around $2trillion. Today, much more than 2,000 exist, worth a total of practically $8trillion.
There are plenty in the energy, financial, property, pharmaceutical, tech as well as other ‘traditional’ fields. then there are others who make their billions from quirkier products such as soy sauce, cashmere, pig-breeding or nappies. Honest.
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Surprisingly, though, relatively few cars and truck men accomplish billionaire status. Continental’s Georg Schaeffler (worth practically $21bn) is the finest example, along with fellow Germans Susanne Klatten ($20bn) as well as Stefan Quandt ($18bn), of BMW. Arguably, these are the three wealthiest people on world automobile, however Elon Musk ($14bn) of Tesla is America’s many minted, while the exact same is true of Geely/Volvo’s Li Shufu ($7bn) in China as well as Hyundai’s Chung Mong-Koo ($5bn) in South Korea.
Japan as well as France have produced plenty of entrepreneurs from Honda, Peugeot as well as other clans. Yet car billionaire individuals are conspicuous by their absence in both lands.
Arnold Clark ($1.1bn) was the UK’s wealthiest chap in the cars and truck game, however died last month, aged 89. In Italy, Piero Ferrari – Enzo’s child – is a $1.6bn man, as well as certainly nobody might begrudge him that little wedge. The exact same goes for Martha Ford ($1.5bn), widow of William C Ford.
The globe is littered with multi-billionaire auto-parts men such as Vivek Chaand Sehgal, who has amassed practically $4bn in Australia. however Germany seems house to many of the world’s mega-rich spare parts people. cars and truck dealing is a profitable game, too, with Dan Friedkin, a one-marque dealership in America, amassing practically $4bn. even Mohammed Bahwan from tiny Oman makes $1bn from his dealerships. Bruce Halle’s a Phoenix dude who’s got $6.5 from shifting tyres.
The lesson for profit-obsessed entrepreneurial types is clear: The richest pickings come from the simpler jobs – car selling as well as financing (easy) as well as not style as well as producing (difficult), or from easy components rather than total cars. That’s sad. as well as worrying. There are far simpler ways for entrepreneurs to make money than establishing all-new cars and truck brands as well as factories. Is there one more Henry Ford or Elon Musk on the horizon? perhaps not. Not sufficient money in it.

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