They founded the company in 2013, while still at Stanford, and took it public in 2020. It’s a rare feat to become a billionaire, especially at a young age. The average billionaire is 66, and the oldest person in the ranks is 102. After a brief stint at consulting firm McKinsey & Co., she joined Trina Solar’s investment arm in 2017.
Age: 42 Net worth: $7.3 billion Source of wealth: In-N-Out Burger
They each own 3.1% of WEG, one of the world’s biggest electric motor manufacturers. Like her sister Katharina, Alexandra also holds a 42% stake in the investment company Ferd and is a member of its board. She also owns the Oslo horse-breeding stable Andresen Dressage and rode horses competitively until spinal stenosis-related back problems forced her to retire. She and her sister Jung-youn each own approximately 9% of the South Korean-Japanese online gaming publisher Nexon, founded by their late father Kim Jung-ju in 1994.
- They founded the company in 2013, while still at Stanford, and took it public in 2020.
- Still, pursuing happiness, fulfilment, and making a mark on the world remains a universal human experience, regardless of the size of your trust fund.
- The era of Gen Z leaders and billionaires is poised to redefine the landscape of power and influence with a leadership style that breaks free from tradition.
- They’re strategically building their own business empires or expanding the ones passed on to them.
- As the WEG founder, he established the company as a major player in the electrical motors sector, which has since grown into a prominent enterprise in Latin America and beyond.
They received their minority stakes in Tata after the 2022 death of their father, Cyrus Mistry, who died less than three months after their revered grandfather Pallonji Mistry. The Del Vecchio family is a prime example of how wealth and influence can span generations. The family’s business empire, EssilorLuxottica, is the world’s largest eyeglasses company, a colossal entity in the optical sector. Leonardo Del Vecchio, the visionary founder of the company, passed away in 2022, leaving a substantial fortune that has significantly impacted his heirs. The world’s youngest billionaire is Livia Voigt, 19, who has a $1.1bn fortune thanks to a 3.1% stake in WEG Industries, a Brazilian electrical equipment producer co-founded by her grandfather Werner Ricardo. They’re far from the only young billionaires to have joined the list in the past three years due to a father’s passing.
Age: 33 Citizenship: U.S. Source of Wealth: Snapchat Net Worth: $3.1 Billion
- Ernest Garcia III is the founder of Carvana, an online service that took the used car buying experience from local to national.
- Her father founded Trina Solar, one of the world’s largest solar product manufacturers, in 1997.
- He has sharp entrepreneurial and business acuity and strategic foresight.
- Like his brother, Firoz, Zahan has a 4.6% stake in the Tata conglomerate as well as a 25% stake in construction giant Shapoorji Pallonji Group.
They’ve taken an active role on making strategic investments in various sectors, including personal finance and technology. Out of the 14 billionaires under 30, 11 inherited their fortunes, showcasing how access to wealth and opportunities often come from family connections, rather than from self-made successes. For instance, Kevin David Lehmann, a 21-year-old German billionaire, inherited a 50 percent stake in dm-drogerie markt, a leading European drugstore chain.
The ten young Spanish innovators aged under 35
In 2022, he paid off the student loan debt for the entire graduating class of the Otis College of Art and Design, where he’d taken classes during high school. For the first time since 2009, every billionaire under 30 inherited his or her fortune—the result of some self-made entrepreneurs aging into their 30s, and a sign that the “great wealth transfer” has begun. This year, the 25 youngest people on the Forbes’ World’s Billionaires list are all 33 or younger. A few are self-made, having built notable companies like Snap (Evan Spiegel, 33), Gymshark (Ben Francis, 31) and Oculus VR (Palmer Luckey, 31). Most of the youngest billionaires inherit wealth from their families. In contrast, most older crowd have built their fortunes from scratch.
Facebook founder Mark Zuckerberg, four years after starting the company, joined the list at 23 to become the youngest self-made billionaire. Charles Koch, the elder of the US billionaire industrialist brothers, is 88. Research by Forbes magazine found there were 15 billionaires aged 30 or under but that none had created their own wealth, instead benefitting from huge inheritances.
Mark Zuckerberg may not be the youngest billionaire on this list, but he is the richest by far. As you might have guessed, Zuckerberg’s billions are tied to his partial ownership of Facebook — he owns around 13% of the social media conglomerate at this point. Some have been lucky enough to receive a share of their thriving family businesses; others have amassed fortunes on their own merits before they turned 30, fortunes worth more than $1.3 billion. One of the youngest billionaires to have made – rather than inherited – their fortune is Ben Francis, 31, the British founder of athleisure brand Gymshark.
In 2017, he founded the defense technology company Anduril, which has been sending drones to Ukraine. When he was a 19-year-old college student with a Pizza Hut delivery job, he and his friend Lewis Morgan started a website they called Gymshark, which they used to sell supplements they’d bought in bulk for a small profit. When they transitioned into sewing and screen printing fitness clothing in Francis’ parents’ garage, their sportswear brand was born. Morgan offloaded his stake to private equity firm General Atlantic in a 2020 deal that valued the company at $1.5 billion. Let’s look at the list of the top 10 youngest billionaires in the world top ten youngest billionaires in the world and see how these people amassed their great wealth.
Age: 30 Citizenship: Norway Source of Wealth: Fish farming Net Worth: $4.2 Billion
Coinbase went public this past April at a valuation of about $100 billion. After the dot-com bubble started to collapse in 2000, his wealth dropped to $60 billion, although he remained at the top of the list. The richest person on the planet is the majority owner of the luxury goods conglomerate LVMH, Bernard Arnault.
All billionaires under 30 have inherited their wealth, research finds
Grandfather Werner Ricardo Voigt played a pivotal role in shaping the family’s business empire. As the WEG founder, he established the company as a major player in the electrical motors sector, which has since grown into a prominent enterprise in Latin America and beyond. Edging out Italian youngster Clemente Del Vecchio, Livia boasts a net worth of $1.1 billion, a testament to her family’s influence in Latin America’s business arena. The gift from his father, equating to $1.7 billion, makes Ludwig Theodor Braun the 1,394th richest person in the world, according to Forbes. Braun doesn’t show up often in social media, and it is almost impossible to find an image of him on the Internet. This 28 year-old German owns 10 percent of the medical device company, B.
He and his three siblings inherited their wealth from their father, Dan, who founded gas and oil pipeline company Enterprise Products Partners. Clemente is the third Del Vecchio sibling to own a share of the Ray-Ban producer EssilorLuxottica. Like his brothers, he owns 12.5% of the holding company Delfin.