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Personality Traits of the Self-Made Millionaire

Personality Traits of the Self-Made Millionaire

“As you start your journey, the first thing you should do is throw away that store-bought map and begin to draw your own.” – Michael Dell, CEO of Dell Inc.

2 min read

Personality Traits of the Self-Made Millionaire

“As you start your journey, the first thing you should do is throw away that store-bought map and begin to draw your own.” – Michael Dell, CEO of Dell Inc.

2 min read

In the first study of its kind1, researchers have distinguished the personality traits most common among self-made millionaires versus those who have inherited their wealth.

The study analysed a sample of wealthy individuals according to the so-called ‘Big Five’ personality traits: 

Openness

(curious vs cautious)

Conscientiousness

(efficient vs disorganised)

Extroversion

(outgoing vs reserved)

Agreeableness

(friendly vs uncaring) 

Neuroticism

(confident vs anxious)

The Results

The results showed that wealthy individuals across both categories tended to show a similar personality profile, being open to new experiences, extroverted, conscientious, agreeable and demonstrating low levels of neuroticism. They were also shown to be more risk tolerant than the average population. 

Interestingly, the study revealed that self-made millionaires more closely match this personality profile than inheritors – and that this becomes more pronounced the wealthier they are. 

The report concluded that people with this unique combination of personality traits have a higher chance of becoming rich via their own means. The good news – if you don’t match this specific profile – over the years many studies have also shown that taking financial advice can result in heightened wealth accumulation. 

If you are looking to accumulate wealth over time or become your own self-made millionaire, taking financial advice is an essential step to ensure you are on the right path.

So, get in touch today and book your initial, no-cost and no-obligation meeting with one of our Patterson Mills Advisers.

Fill out our contact form, send us an e-mail to info@pattersonmills.ch or call us direct at +41 21 801 36 84.

1Humanities & Social Sciences Communications, 2022