Elite entrepreneurs key drivers of wealth creation – BNP Paribas

Elite entrepreneurs play the crucial role in wealth creation in the developed economies. They have built at least three successful businesses and are highly driven uber achievers. According to the BNP Paribas Wealth Management 2017 report, their top 5 markets for entrepreneurial pursuits are USA, China, Germany, France and the United Kingdom.

The 2017 BNP Paribas Global Entrepreneur Report is one of the largest international surveys ever polling almost 2,650 multimillionaire entrepreneurs in 21 countries handling a total wealth of USD 40 billion.

“The 2017 Elite Entrepreneurs manage many companies and are a strong contributor to the global economy. While typically maintaining 50% to 65% of their business focus in the market of their primary business, their business footprint is increasingly globalized,” says Sofia Merlo, Co-CEO at BNP Paribas Wealth Management.

Their top 3 industries for wealth creation are IT, manufacturing and Online/mobile/digital. “Their investments are very diversified and balanced between different asset classes… They are keen on re-investing most of their wealth when the opportunity arises – nearly 71% of their current investment balance sheet. Close to 20% of their investments is placed either through private equity or angel funding,” says Vincent Lecomte, the Co-CEO.

BNP Paribas’ Report clusters entrepreneurs into 5 categories: ultrapreneurs (a business owning individual with a net investable wealth in excess of USD25 million); millennipreneurs (an entrepreneur born between 1980 and 2000); boomerpreneurs, (an entrepreneur aged 55 or over who is part of the Baby Boomer generation) womenpreneurs and serialpreneurs (an entrepreneur who owns or has established four or more operating companies).

In Kenya, there is a growing number of elite entrepreneurs that are contributing significantly to wealth creation. The burgeoning middle class is fueling the growth of wealth management industry in Kenya. It is no wonder therefore that majority of the High Net-Worth Individuals who have signed up to attend the Private Banking and Wealth Management Conference are renown entrepreneurs. The conference takes place at Radisson Blu hotel on 21st -22nd  March 2017, with an entry ticket going for Ksh69,000.

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