Itongadol.- Hong Kong led the list, followed by Israel, the United States, Switzerland, and Singapore.
When it comes to making something out of nothing, Israel ranks second in the world. A new study by the London- based Center for Policy Studies found that next to Hong Kong, Israel has more self-made billionaires than any other country.
The report looked at 1,000 self-made billionaires, termed “SuperEntrepreneurs,” from 15 years’ worth of Forbes annual lists and calculated how many each country around the world produced in proportion to their total population.
Those who inherited their fortunes were excluded.
Hong Kong led the list with 2.831 SuperEntrepreneurs per million inhabitants, followed by Israel with 1.788, the United States with 1.388, Switzerland with 1.229 and Singapore with 1.053.
Funnily, the study found strong correlations between SuperEntrepreneurship and several factors for which Israel is not known: “There is a strong correlation between high rates of SuperEntrepreneurship in a country and low tax rates. Equally, a low regulatory burden and high rates of philanthropy both correlate strongly with high rates of SuperEntrepreneurship.”
The World Bank’s Ease of Doing Business Index, which ranks things like regulation and tax burden, put Israel at 35th in the world in 2014.