The average age of billionaires within a nation is an interesting piece of statistic that is open to the influence of many factors. I believe this phenomenon is especially influenced by the population within a country. Where the number of people within a country has a bearing on the age of billionaires found within the country or of the same nationality as the country. In this paper I will seek to analyze graphically these two phenomena and prove without a doubt that the population of a country affects the average age of billionaires within the country.
The Average Age of Billionaires by Country
Discussion
In most cases, the average age of billionaires in the selected countries is between the ages of 66 and 70.
In 2007, the average age of billionaires saw a significant drop, i.e. during the year 2007, most of the billionaires in all the countries were generally younger.
Discussion
China is the most populous country. In essence that makes it the outlier for this data set.
Monaco is the least populous country, also making it an outlier for this data set.
Almost all the countries experience population growth from the year 2004 to 2007
Most of the countries in the data set have a population of 1 to 10,000,000 people.
COMPARISON OF THE TWO PHENOMENA
In this section, only 5 countries will be selected for the analysis. To have a fair reflection across the board, the criteria for selection will be as follows:
- Population size
- Geographical Location
- Relative Economic Capacity
The following countries will be selected for this part of the analysis:
- China
- Monaco
- United Kingdom
- United States
- Brazil
Discussion
China has the largest population and has the lowest average age of billionaires. China’s population has steadily grown from 2004 to 2007. At the same time the average age of billionaires within the country has gone down steadily.
Monaco has a steady population, where there is minimal growth, almost negligible. Monaco is the least populous country in the data set and has the highest average age of billionaires.
The United States has experienced growth in is population, the average age of billionaires within the country has not changed significantly within that time period.
Brazil has also experienced growth in population from 2004 to 2007. The average age of billionaires within the country has significantly dropped.
The United Kingdom has experienced negligible increase in population from 004 to 2007. The average age of billionaires within the country has not changed significantly within that time period.
Conclusion
There is significant evidence to point to or allude that the more the number of people within a country (i.e. the higher the population), the lower the average age of billionaires within the country. This is supported by the following facts:
China is the most populous nation in the data set and it has the lowest average age of billionaires. Furthermore, the population of china significantly rose by 7,000,000 between 2004 and 2005. This saw the average age of billionaires drop from 62 years to 49 years. This is further compounded by the fact that the country is considered a developing nation, hence there exists economic and financial incentives to ensure growth and development in the country.
Monaco is the least populous nation in the data set and it has the highest average age of billionaires in the data set. Furthermore, negligible growth rate in its population has yielded negligible change to the average age of billionaires within the country.
The United Kingdom has maintained a steady population count and has seen little change in its population between 2004 and 2007. Within the same time period, there has been a 0.6 year increase in the average age of billionaires within the country within the time. This alludes to the fact that the country is a developed economy and not much further development can be done.
The United States is the second most populous Nation in the data set. The country has experienced average steady annual growth in its population of about 2,000,000 per year. This has not had a significant effect on its average age of billionaires. There has been a 0.9 year increase in the average age of billionaires within the country within that time frame. This can be attributed to the fact that the nation is a developed country and has probably hit a development plateau where not much further development can be done.
- All these points of evidence show that:
- An increase in population lowers the average age of billionaires within a nation
- A decrease in population raises the average age of billionaires within a nation
- Negligible change in the population of a country lead to little or no change to the average age of billionaires within a nation.
- A country’s economic, social and financial climate and status influences the average age of billionaires within the country.
Recommendations
The data set given above is not conclusive and so are the findings of this research. There is need for further and detailed research on this particular area. There should be further research that can develop a mathematical model that clearly shows the relationship between the population of a nation and the average age of billionaires within the given nation. This mathematical model also needs to include the necessary and vital variables, like economic capacity of the country and so on.
References
GapMinder. gapminder.org. 2013. 22 May 2013. <http://www.gapminder.org/>.
Machex Sales Inc. ciaworldfactbook.org. 2013. 22 May 2013. <http://www.ciaworldfactbook.org/>.
