Who wants to have a 10-figure income? And just how much is 10 figures? While some have succeeded in making that dream a reality, most of us are left wondering what those six, seven, eight, or even 10 figures mean.
For most of us, a comfortable lifestyle means a decent job with a respectable income, a house, and a general feeling of comfort and well-being. But some people also aspire to become millionaires or even billionaires and work hard for it.
This article addresses how much is 10 figures exactly, who makes this kind of money, and how one can earn 10 figures in a year. While the opportunities may not be easily available to everyone, you would agree that knowledge is always helpful.
How Much Is 10 Figures?
Now, the main question! How much is ten figures really? You may have heard of people earning a six figure salary, implying that their income amounts to hundreds of thousands a year. Similarly, people earning seven figures have more than 1 million annual income.
Individuals who earn 10 figures are billionaires with an income range of anywhere between $1,000,000,000 and $9,999,999,999. While only a few individuals have this kind of income, they are the wealthiest people in the truest sense.
Individuals with 10-figure incomes have the luxury to go all out and spend their money the way they like it. Now that is what we call “living the dream.”
However, in this regard, we indeed need to consider that a 10 figure implies multiple things. For instance, an individual having $1,000,000,000 or $2,000,000,000 has a low 10 figure income. Similarly an individual having $4,000,000,000 or $5,000,000,000 has a mid-10 figure income, while one with $8,000,000,000 to $9,999,999,999 has a high 10 figure income.
So, what does it mean when we say a particular individual makes 10 figures in a year? It could be their salary or wage, income from a business, or sales figures accumulated in a year. Thus, the meaning of 10 figures would depend on the source of income.
Who Earns 10 Figures?
As we move up the financial ladder, the number of individuals tends to lessen. While there are many individuals who earn six or even seven figures in a year, there are significantly fewer individuals who have managed to strike the golden number.
While it is not entirely impossible to attain, earning 10 tricks is no easy feat either. One needs a sheer amount of hard work, drive, passion, persistence, and luck on their side to accumulate such wealth.
Some individuals have also been an exception to the rule and have accumulated this kind of wealth through a business idea that clicked. Similarly, famous influencers have even managed to earn this much in one year or multiple years.
If you are wondering if there are any examples of billionaires, there is more than one. Here are a few examples of individuals with a 10-figure income and how they amassed such wealth.
The multi-billionaire Jeff Bezos has a net worth of around $171 billion, and most of his income has been amassed from Amazon, the biggest e-commerce platform today.
While his venture had humble beginnings and ups and downs, Amazon grew over time. The business flourished particularly during the pandemic, with profits jumping and going on an upward swing since then.
Who doesn’t know Bill Gatesthe co-founder of Microsoft, the world’s largest software set-up?
The Harvard drop-out is a self-made billionaire with a current net worth of around $129 billion. He turned his passion for computers into a business and made it a success. Today, he has investments across the US and Canada.
Our list of current-day billionaires will not be complete without mentioning Elon Musk’s net worth. His controversial ideas and out-of-the-box thinking have made him the focus of mockery and being a laughing stock, but his Tesla venture is living proof of turning even the wildest dreams into a reality.
Since last year, Musk got richer remarkably fast, with a net worth increase of $125 billion in one year, pushing him from #35 to #2 on the world’s billionaire A-list. Today, his net worth is around $290 billion.
While Elon Musk may have added the most to his net worth in the quickest time, the title of the youngest billionaire goes to Mark Zuckerberg, the co-founder and CEO of Meta (previously Facebook). However, in 2019, Kylie Jenner snagged the title by crossing the 10-figure mark at the age of 19.
What started as a hobby in a dormitory room at Harvard for him is today’s biggest social media platform, earning Zuckerberg a hefty $67 billion.
Women Who Make a 10-Figure Salary
Our mention of billionaires with 10-figure incomes is incomplete without mentioning exemplary women who have successfully earned 10-figure salaries. Here are a few examples of the richest women in the world.
Alice Walton is the richest woman in America. The daughter of Walmart founder Sam Walton has a net worth of around $65.3 billion, which she inherited from her father. Alice is the Chairman of Crystal Bridges Museum of American Art and is passionate about curating art.
Diane Hendricks, the co-founder of ABC Supply, has a net worth of around $11 billion. The self-made billionaire started the wholesale distribution of building materials business under the banner of ABC Supply with her husband Ken Hendricks in 1982.
While the couple started as partners in real estate in 1975, they eventually managed to build a billion-dollar empire. When her husband passed away in 2007, it didn’t slow her down. She made the company even more successful.
The life story of Oprah Winfrey is a true reflection of success and making a life out of nothing. As a child, she led a life of poverty, but today, she has a net worth of around $3.5 billion.
Her talk show made her famous among the masses, and she managed to build a massive business empire with her own cable network.
Judy Faulkner is the CEO of Epic, the pioneering medical-record US-based company, which has leading US medical centers like John Hopkins among its clientele.
Her current net worth is around $6.6 billion.
The next billionaire on our list is Marian Ilitch, the Little Caesar’s pizza owner. Her business venture has a yearly sales figure of around $4 billion.
In addition, Marian Ilitch also owns the Motorcity Casino Hotel and Detroit Red Wings.
Sarah Blakely, the inventor of Spanx, runs a massive global business that sells swimwear, maternity clothing, leggings, and underwear. She was named one of the most influential people in Time 100, with a net worth of around $1.2 billion.
Best Ways to Earn 10 Tricks
As we suggested earlier, there are more than one ways to earn ten figures. In the section below, we have discussed a few ideas. Let’s have a look.
Start an Entrepreneurial Venture
Many kinds of businesses generate 10-figure income. It could be a digital business, a franchise, a retail store, or a software company. Consider your expertise, interests, and hobbies to assess what kind of a venture you can begin.
Most of the billionaires mentioned here have amassed their wealth through successful entrepreneurial ventures. Whether it was turning a hobby or passion into a business, or an idea that clicked, these individuals started from scratch and managed to build massive billion-dollar empires.
However, the road to success is not so easy and has obstacles. If you are willing to go that way, be prepared to put in a lot of hard work, persistence, drive, and passion into your venture. You will face disappointments and setbacks, but you must be prepared to counter those challenges.
There will also be times when you second guess yourself, as others question your decision-making or ideas. However, if you believe in an idea strongly, commit to it and stay determined. Having confidence in your creative skills and ideas is imperative for your success.
Make Lucrative Investments
While investments on their own may not make you a billionaire, they can help you grow your wealth provided you make sound investment decisions. Successful billionaires use their wealth to invest in appreciating assets to multiply it.
Such moves also imply assuming certain risks when making an investment. Remember that you may not be able to grow if you do not take chances. You may start by doubling 10Kand grow it from there.
Leverage the Media Platforms
You may be surprised to hear that celebrities, including singers, social media stars, and talk show hosts, also have the potential to earn ten-figure incomes. Oprah Winfrey, for example, gained massive popularity through her talk show.
Similarly, Kylie Jenner used her fame from the popular Kardashians’ reality show to build and grow her business Kylie Cosmetics, making her the youngest billionaire in the world.
These are not the only ways one can become a billionaire. Some have been lucky enough to inherit massive wealth, while others have used their own skills and become immensely successful.
Some individuals have also been able to earn massive wealth through their out-of-the-world-ideas or by authoring books.
Is a 10-Figure Salary Good?
A 10-figure salary can enable you to lead a life of extreme comfort and luxury. You can have a lifestyle that is the stuff of other people’s dreams.
While people with six-figure incomes also have to spend their income with care, billionaires are not concerned with the rising inflation or having to compromise on their lifestyle. A 10-figure salary is not just good; it is excellent.
Frequently Asked Questions – How Much Is 10 Figures: Low to High?
How Much Is Low 10 Figures?
An income of $1,000,000,000 to $2,000,000,000 is considered low 10 figures.
How Much Are Mid 10 Figures?
An income of 4,000,000,000 to $5,000,000,000 is mid 10 figures.
How Much Are High 10 Figures?
An income of $8,000,000,000 to 9,999,999,999 is in the high ten figures.
Conclusion – Exactly How Much Is 10 Figures?
10 Figures in net worth gives you a membership in the exclusive billionaire’s league, regardless of whether it’s in the low, mid, or high 10 figure. A few remarkable individuals, male and female, have made their lucrative mark in different industries, making them the planet’s richest people.
So, how much is 10 figures? It’s a billion and more, which, while very challenging, may not be impossible to realize. With this sneak peek into this seeming dream world of billionaires, may you feel inspired to make your own financial visions come true.
Marjolein is a financial consultant who has built over €4,000 monthly passive income and saves over 70% of her income. Read Radicals’ inspiring story, from stuck in the 9-to-5 to loving life. Feel free to send Radical a message at the bottom of this page