As a general rule, CEOs make the big bucks. Some of them are so well paid, they get to be millionaires. You wouldn't be wrong in assuming that the U.S. boasts the largest number of millionaire CEOs in the world. However, London is the city that most of them call home.
The U.K. capital emerged as the winner in the city ranking in research carried out by Compelo and Wealth Insight. The financial news providers found that London accounts for 2.9 percent of the world's millionaire CEOs. Perhaps the best-known among them is Richard Branson, whose fortune is estimated at $5.5 billion. Branson made his money from Virgin Group – the conglomerate he co-founded in 1970.
Broken down by country, the list shows the U.S. way ahead with 48 percent of the world's millionaire CEOs. In fact, seven of the ten cities ranked are located in the U.S. The U.K. is a very distant second with 8 percent. France has claimed the third place with 4 percent.
The analysis by industry shows technology and telecommunications as responsible for the largest proportion of millionaire CEOs (18 percent). The financial services and investments industry ranks at number two with 15 percent.
And here's a snapshot of your average millionaire CEO: a male aged 58 with a fortune of between $5 million and $30 million. The interesting thing is that half of these wealthy individuals have worked hard to get where they are. They founded their own companies and serve as their CEOs. In this millionaire club, only 38 percent of members have salaried positions to thank for their fortunes. For 7 percent of them, family money is behind their wealth, while 5 percent inherited their fortune.
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