A 19-year-old is the youngest billionaire in the world in 2024, according to Forbes. This should not come as a surprise since another 19-year-old was the youngest billionaire in 2023.
Acquiring their fortunes through inheritance and building successful businesses, the names in the billionaires’ list are below the age of 33. All have made a mark the world over in a short time, whether through their own effort or through inheritance.
There are 25 names in Forbes’ list of The World’s Youngest Billionaires 2024, including the famous Norwegian billionaire sisters Katharina and Alexandra Andresen. In total, the 25 people have a combined net worth of USD 110 billion. Among the many names are self-made billionaires like Snap’s Evan Spiegel, who is 33, Gymshark’s Ben Francis and Oculus VR’s Palmer Luckey, both of whom are 31.
However, as Forbes noted, all the billionaires under the age of 30 are inheritors of their wealth and not self-made. Since it is the first time since 2009 that such a factor has been noted, Forbes estimates that a “great wealth transfer” has started, which means that many older billionaires are already bequeathing their wealth to their heirs.
These are Forbes’ youngest billionaires in the world
Livia Voigt
Age: 19
Country: Brazil
Source of wealth: Industrial machinery
Net worth: USD 1.1 billion
Officially crowned as the youngest billionaire in the world by Forbes, the teenager is two months younger than the only other 19-year-old on this list. Livia owns a 3.1 per cent stake in Brazilian electrical equipment giant WEG. The company was co-founded by her grandfather, Werner Ricardo Voigt, who passed away in 2016.
Livia is a student and is studying psychology at a university. Her older sister is Dora, who too holds a similar stake in WEG and is a billionaire heiress. But their much older cousins, Eduardo and Mariana, hold a larger share of 3.9 per cent.
Clemente Del Vecchio
Age: 19
Country: Italy
Source of wealth: Eyeglasses
Net worth: USD 4.7 billion
When Leonardo Del Vecchio, chairman of the world’s largest eyeglasses firm, Luxottica, died in June 2022, his younger son Clemente inherited a 12.5 per cent stake in his father’s multinational corporation Delfin S.à r.l, which is also the majority stockholder of EssilorLuxottica.
According to the official Delfin S.à r.l website, the company’s aggregate net asset value was approximately USD 29.77 billion and a gross asset value total of around USD 32.19 billion, as of 31 August 2021.
Forbes data reveals that the world’s second-youngest billionaire has seen an addition of USD 800 million to his net worth in 2024. He lives in Milan with his two brothers, all of whom are billionaires due to the same inheritance. He is apparently not serving any position at EssilorLuxottica — the brand with a large portfolio of luxury eyewear such as Ray-Ban, Sunglass Hut and Oakley.
Kim Jung-youn
Age: 20
Country: South Korea
Source of wealth: Online gaming
Net worth: USD 1.4 billion
Kim Jung-youn and her sister inherited a 9 per cent stake in the online gaming giant Nexon after their business magnate father Kim Jung-ju’s demise in February 2022. Jung-youn is the second female billionaire on Forbes‘ 2024 list of the youngest billionaires.
One of Asia’s top video game companies, Nexon was the first to develop the earliest MMORPG, a multiplayer online role-playing game. With around 80 live games in more than 190 countries, Nexon is popular for some of its most famous ones such as MapleStory, Dungeon&Fighter, Sudden Attack and KartRider.
First listed on the Tokyo Stock Exchange, Nexon was added to the Nikkei Stock Index 300 in 2017.
Kevin David Lehmann
Age: 21
Country: Germany
Source of wealth: Drugstores
Net worth: USD 3.3 billion
Again on the list of Forbes youngest billionaires in the world owes his fortune to his father Guenther Lehmann’s German drugstore chain dm (drogerie markt), which has an annual revenue of over USD 14 billion.
Founded in 1973 by Prof. Götz W. Werner in Karlsruhe, Germany’s leading drugstore chain employs thousands in over 4,000 stores in Europe, according to Forbes.
Forbes reports Kevin became a stakeholder at dm after his father transferred its 50 per cent ownership to him when he was only 14 years old in 2017. However, both father and son are not involved in the operations of the company.
Kim Jung-min
Age: 22
Country: South Korea
Source of wealth: Online gaming
Net worth: USD 1.4 billion
Kim Jung-min inherited most of her fortune from her family along with her younger sister Jung-youn, to become one of the youngest billionaires in the world. Like her sister, she has a 9 per cent stake in video game company Nexon.
However, as per Forbes, Jung-min, along with her younger sister Jung-youn, lead a quiet life and are not known to have an active role in the company.
Luca Del Vecchio
Age: 22
Country: Italy
Source of wealth: Eyeglasses
Net worth: USD 4.7 billion
One of the two children the late Del Vecchio had with Sabina Grossi, Luxottica’s former board member and head of investor relations, Luca is currently not operating in any role at his father’s eyewear company EssilorLuxottica, according to Forbes.
However, a 2022 Bloomberg article revealed that business tycoon Del Vecchio had divided his fortune equally among his heirs.
The article added that his Will stated that each of his eight heirs — his wife, his six children and the son of his wife from a previous marriage — are to receive a 12.5-per cent stake in Del Vecchio’s holding company, Delfin S.à r.l. While a statement mentioning the same was released by Delfin as well, it added that the Will didn’t have any other instructions about the governance of the company.
As of now, Luca owns the 12.5 per cent stake that he inherited from his father. This is the same share that his brothers own.
Remi Dassault
Age: 22
Country: France
Source of Wealth: Inherited
Net worth: USD 2.5 billion
Remi, the son of the late Olivier Dassault, became heir to his father’s billions after the latter’s death in a helicopter crash in 2021. He now holds around 2.5 per cent stake in French software company Dassault Systèmes. His other holding is a 4.1 per cent stake in Dassault Aviation, the maker of business jets and fighter aircraft Rafale.
Before his death, Olivier Dassault was also a politician serving as a representative in France’s National Assembly. The foundations of the family’s fortunes were laid by Olivier’s grandfather Marcel Bloch, who changed his surname to Dassault after surviving the holocaust during World War II.
Zahan Mistry
Age: 25
Country: Ireland
Source of wealth: Diversified
Net worth: USD 4.9 billion
Zahan Mistry and his brother Firoz are the sons of Cyrus Mistry, the former chairman of Tata Sons, who died in 2022 in a car accident in India. Their father’s passing came less than three months after the death of their grandfather, Pallonji Shapoorji Mistry.
His family held an 18.4 per cent stake in Tata Sons, part of which the brothers inherited after the death of Cyrus Mistry. Their uncle is Shapoor Mistry, the chairman of the family’s construction conglomerate, Shapoorji Pallonji Group.
According to Forbes, Zahan Mistry holds 4.6 per cent in Tata beside a 25 per cent stake in the family’s own business. Like his brother, Zahan is an Irish citizen.
Dora Voigt de Assis
Age: 26
Country: Brazil
Source of wealth: Industrial machinery
Net worth: USD 1.1 billion
The older sister of Livia, Dora, too, has a share of 3.1 per cent in WEG. Even though their individual shares are lesser than their cousins’, the two sisters are among the largest individual shareholders of their grandfather’s company.
Forbes reveals that Dora holds a university degree in architecture, which she earned in 2020. However, neither Dora nor Livia sit on the board or hold any executive position.
Firoz Mistry
Age: 27
Country: Ireland
Source of wealth: Diversified
Net worth: USD 4.9 billion
Tata Sons, the company in which Firoz and his brother Zahan have a stake, has a revenue of USD 150 million, according to Forbes. His stake of 4.6 per cent is, therefore, huge in terms of wealth generated since Tata Sons owns known companies such as Tata Motors and Tata Consultancy.
Forbes reports that Tata is considering its own IPO in the coming months. If that happens, it can be expected that both Firoz and Zahan will see their net worth soar massively.
Both brothers, though Irish citizens, reportedly live in Mumbai where Tata and their own family business are based. They take an active interest in the reorganisation of the SP Group and are in leadership roles. Firoz is the last of the top 10 youngest billionaires on the Forbes 2024 list.
Alexandra Andresen
Age: 27
Country: Norway
Source of wealth: Investments
Net worth: USD 1.6 billion
Alexandra Andresen is the youngest of the billionaire Andresen sisters and the owner of a 42-per cent stake in her father’s investment company Ferd. She is now a board member of the company.
Currently, Ferd mainly runs hedge funds. It is an active investor in the Nordic stock exchange and has private equity investments.
A 2021 Business Insider report revealed that the Ferd inheritance was a great responsibility for Alexandra, which she spoke about in a 2014 interview as well.
“In a way I think that I have not made me deserving of this, while I want to help develop Ferd and make it even better. Finding a way to give something back, I think is difficult,” she said.
According to Forbes, Alexandra also owns a horse breeding and training facility, Oslo-based stable Andresen Dressage. An accomplished dressage champion, she left the sport due to a back problem.
Katharina Andresen
Age: 28
Country: Norway
Source of wealth: Investments
Net worth: USD 1.7 billion
Norwegian millennial Katharina Andresen, the older sister of Alexandra, was granted her billionaire status by her father Johan H. Andresen, who made her the owner of the other 42 per cent of Ferd.
Founded in 1849 by the first Johan H. Andresen, this family-owned business got its current name in 2001. The sisters’ father, who has been running the company as its chair since 2012, currently controls 70 per cent of its votes through a dual-class share structure.
In addition to her responsibilities to the company as a board member, Katharina is also working in a construction company in Oslo, reported Forbes Czech.
Leonardo Maria Del Vecchio
Age: 28
Country: Italy
Source of wealth: Eyeglasses
Net worth: USD 4.7 billion
One of six children of eyewear kingpin and the late chairman of EssilorLuxottica, Leonardo Del Vecchio, Leonardo Maria owns a 12.5-per cent stake in his father’s multinational holding corporation Delfin S.à r.l governed under Luxembourg laws.
Leonardo Maria inherited his share along with his mother and six half-siblings, after Leonardo Del Vecchio’s demise in 2022.
Besides serving as the chief strategy officer of EssilorLuxottica, Leonardo Maria is also the CEO of Salmoiraghi & Viganò. The eyewear retail company was acquired for an undisclosed amount by EssilorLuxottica in 2016.
As a holding company, Delfin S.à r.l owns shares in the world’s largest eyeglasses firm, EssilorLuxottica, insurance provider Generali, banks Mediobanca and UniCredit, and real estate investor Covivio.
(Hero and featured image: Courtesy Forbes/Twitter)
This story first appeared on Prestige Singapore.
Frequently Asked Questions (FAQs)
– Who is the richest person in 2024?
According to Forbes’ Real-Time Billionaires list, LVMH CEO Bernard Arnault is the richest person with a net worth of USD 218.5 billion as of 5 April 2024.
– Who is the youngest self-made billionaire?
Some of the youngest self-billionaires in the world in 2024 are Evan Spiegel, Ben Francis and Palmer Luckey.
– Which youngest billionaire is 25-years-old?
Zahan Mistry, the younger brother of Firoz Mistry, is 25 years old as of 5 April 2024.
– Who became a billionaire at age 19?
WEG heiress Livia Voigt is the youngest billionaire according to Forbes. She is only 19 years old and two months younger than fellow 19-year-old billionaire Clemente Del Vecchio.
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