Young billionaires are increasingly cropping up, more than ever in history. Unlike in the past, when most young billionaires had their family to thank for their wealth, the world is now playing host to more self-made billionaires than ever.
Young entrepreneurs and innovators are minting vast chunks of money in the tech industry. Fashion and retail, as well as the retail sector, have also emerged as a safe battling ground for young billionaires. Here is how the youngest billionaires fair in the world and how they have made their wealth.
Kylie Jenner: Age 22: Net Worth: $1 billion
Kylie Jenner tops the list as the youngest self-made billionaire at just 22. The Keeping up With The Kardashian star minted her first billion at the age of 21 after her Kylie Cosmetic brand inked a deal with beauty retailer Ulta. The company was valued at over $900 million in 2019. In addition to making money from cosmetic products, Kylie also commands a huge fee in modeling gigs where she also generates a substantial amount of wealth.
Alexandra Andresen: Age 23: Net Worth: $1.4 billion
Alexandra Andresen was the youngest billionaire for three consecutive years until Kylie Jenner assumed the mantle. Andresen accrues most of her wealth as the heir and daughter of Johan Andresen, the owner of investment company Ferd. Together with her sister, they own 42.2% of the investment company.
Katharina Andresen: Age 24: Net Worth: $1.4B
Katharina Andresen was, at some point, the second youngest billionaire in the world behind her sister Alexandra Andresen. Similarly, she accrues most of her wealth from inheritance as the daughter of Johan Andresen, behind investment firm Ferd. Just like her sister, she owns 42.2% stake in the multi-billion dollar investment firm.
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Gustav Magnar Witzoe: Age $27: Net Worth: $3 Billion
Gustav Magnar accrues his wealth as one of the world’s largest salmon producers in the world. Witzoe owns nearly half of Salmar ASA, a company that continues to spearhead salmon farming in Norway. In addition, Witzoe has diversified his wealth with investments in real estate as well as tech startups.
Evan Spiegel age 29 Net Worth: $3.9 billion
Evan Spiegel is a self-made young billionaire as the co-founder of Snap camera company. More than 200 million people use the company’s app to send disappearing photos and videos. A graduate of Stanford University, he owns 18% of Snap together with Bobby Murphy.
John Collision: Age 30: Net Worth: $2.1B
John Collision is another self-made billionaire and president of Stripe. The company, which is valued at over $20 billion, lets people send and receive money over the internet. Together with his brother Patrick they devised the Stripe idea while attending university in Boston.
Ana Kasprzak Age 30 Net Worth: $1 billion
Anna Kasprzak is one of the wealthiest Millennials in the world as one of the heirs to Danish Shoe company ECCO. The company’s products are sold in over 90 countries, with sales of more than $1.4 billion.
Ludwig Theodor Braun: Age 29: $1B
Aged 29, Ludwig Theodor Braun accrues most of his wealth from the healthcare sector. He owns a 10% stake in medical device company B. Braun Melsungen founded in 1839. The company is currently valued at more than $8 billion employing over 60,000 people.
Jonathan Kwok: Age 31: Net Worth: $2.2B
Jonathan Kwok fortunes mostly come from investments in the real estate industry. He is the son of Hong Kong’s largest developer, Walter Kwok, former chairman of Sun Hung Kai Properties. Together with his brother Geoffrey Kwok, they inherited the property holding company.
Patrick Collision: Age 32: Net Worth: $2.1 billion
He is the co-founder of Stripe, a title he shares with his brother John Collision. He owns an 18% stake in the payment processing company. The company lets businesses and individuals accept payments over the internet.