PBI has drawn on WealthInsight’s research to analyse a specific industry which plays a major part in driving high net worth wealth creation. This month, PBI looks at the energy and utilities industry in Canada, Hong Kong, Singapore and the United States.
The immensely lucrative energy and utilities business is a crucial one. Linked with natural resources, such as oil and gas, it is a necessary part of any self-sustaining economy and one that creates much wealth. Modern society consumes vast amounts of fuel and the energy industry is a key part of any solid infrastructure.
Go deeper with GlobalData
Energy is one of the most in demand services in the world. Due to the level of demand, the expenses incurred and the increasingly apparent issue of non-renewable fuel, the industry is heavily regulated in the modern day. While many companies try to maintain as much independence as possible, if left unchecked, countries could suffer from severe energy crises. However, outside elements could also have a dramatic impact, such as in the 1979 crisis in the United States.
Due to the widespread demand for energy, competition is extremely high. Many energy and utility companies compete for business and form retail energy markets in an attempt to gain the edge. Moreover, as many forms of energy are non-renewable, the competition to gain any resources is high.
However, the most money in this sector comes from importing and exporting resources internationally. Some countries, such as Canada, have vast amounts of natural resources available to them and export for profit. In contrast, smaller countries with little to no natural resources import and provide to their own country or even export again, to create wealth.
Key Geographies
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCountries with a high amount of natural resources are key areas for investors in the energy and utilities industry. Another aspect is rich countries which can afford to buy these resources from others with an intent to create their own profit.
Canada is the world’s largest producer of natural uranium and is also the world’s leading producer of hydro-electricity, accounting for 13% of global production. The country also sends around 98% of its exported energy goods to America, the second largest economy in the world, and exports significant amounts to Latin America, Asia and Europe. 6.6% of Canadian high net worth individuals (HNWIs) created their wealth in this industry with 7.9% of ultra high net worth individuals (UHNWIs) doing the same.
| Name | Wealth (US$bn) | Industry | City of Residence |
| Mr Murray N. Edwards | 2.3 | Energy & Utilities | Regina |
| Mr Clayton H. Riddell | 2.1 | Energy & Utilities | Calgary |
| Mr James Kenneth Irving | 2.0 | Energy & Utilities | N/A |
Singapore is a country that heavily imports their energy and utility service. Energy import is about three times the amount of primary energy and the importing of oil in comparison to the population is high. In addition, several countries choose to have their oil plants in the country. 4.5% of Singaporean HNWIs and 5% of UHNWIs create their fortune through this industry, a reliable income as Singapore provides very little of its own energy.
| Name | Wealth (US$bn) | Industry | City of Residence |
| Mr Oon Kuin Lim | 1.6 | Energy & Utilities | N/A |
| Mr Peter Chong Cheng Fu | 0.7 | Energy & Utilities | N/A |
| Mr Soo Kian Lee | 0.3 | Energy & Utilities | N/A |
The United States is the second largest consumer of energy, which has led to some extreme wealth, even for billionaires, in the region coming from this sector. While having resources within its own borders, a large amount of fossil fuels are important from abroad. 4.2% of HNWIs find their wealth within this industry and three of the ten wealthiest people in this sector are from the USA.
| Name | Wealth (US$bn) | Industry | City of Residence |
| Mr Richard Dan Kinder | 10.7 | Energy & Utilities | Cape Girardeau |
| Mr Harold G. Hamm | 10.6 | Energy & Utilities | Oklahoma City |
| Mr George B. Kaiser | 10.2 | Energy & Utilities | Tulsa |
Hong Kong has a solid grounding in the energy and utilities sector with 4.7% of HNWIs and 5.3% of UHNWIs earning their wealth through this industry.
| Name | Wealth (US$bn) | Industry | City of Residence |
| Dr Lam Kwong Sit | 1.3 | Energy & Utilities | Anhui Province |
| Carrie Perrodo Wong | 1.2 | Energy & Utilities | London |
