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The gap between the world’s richest 1% and the rest of us grows bigger every day. Indeed those lucky enough to be at the very top of the financial ladder own half of the world’s wealth between them. There are currently 2,153 billionaires in the world, collectively their wealth reaches an astonishing $8.7 trillion. And as that chasm grows wider, the lives of the super-rich become even more intriguing to us mere mortals.
What, therefore, could be more fascinating than the lives of the world’s youngest billionaires. All under 40, these 71 young people may have inherited or been given enormous wealth. But there exist 41 young billionaires in the world who are self-made, perhaps these rising stars are the most interesting of all.
For those looking to follow in their footsteps, the tech industry accounts for 30 of these self-made billionaires, with the remainder finding their fortune in fashion and retail or real estate.
Between them, these lucky or entrepreneurial young people have amassed a wealth of $299 billion USD, up from $265 billion USD in 2018.
Discover who made the cut, the top ten youngest billionaires in the world in 2019.
Kylie Jenner, aged 21
Net Worth: $1 billion
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The only female self-made billionaire aged under 40, and the youngest billionaire in the world, the moment Kylie Jenner entered this list she smashed a lot of records and a lot of glass ceilings.
The youngest Kardashian’s empire is built on makeup brand, Kylie Cosmetics, which was estimated to have turned over $360m in sales last year alone.
Of her spot on the Forbes list, she says, “I didn’t expect anything. I did not foresee the future.”
Alexandra Andresen, aged 22
Net Worth: $1.4 billion
Alexandra Andreson is a Norwegian heiress, the daughter of Johan H. Andresen Jr. who owns an extremely successful investment company called Ferd. Their wealth has been amassed through hedge funds, investments in the Nordic Stock Exchange and private equity investments.
Johan split ownership of the business between Alexandra and her sister Katharina, instantly making her one of the richest young women in the world. Indeed she and her sister held the position of youngest billionaires in the world for three consecutive years until Kylie Jenner stormed the charts this year.
Katharina Andresen, aged 23
Net Worth: $1.4 billion
Sister of Alexandra and recipient of the other 42.2% share of Ferd transferred to the young women by their father back in 2007, Katharina joined her sister as one the most wealthy young women in the world and the joint owner of an extremely successful investment company when she was just 11 years old.
Gustav Magnar Witzoe, aged 24
Net Worth: $3 billion
SalMar ASA is one of the largest producers of salmon in the world, and the reason why Gustav Magnar Witzoe is one of the richest young men in the world. Gustav owns almost half of the business, a stake which was given to him by his father Gustav Magnar Sr. The enterprising business was founded by Gustav Sr. back in 1991, bringing salmon farming to Norway.
Whilst Gustav Sr. continues to run operations at SalMar, Gustav Jr. spends his time investing in real estate and tech startups, so we can expect his star to rise in coming years.
John Collison, aged 28
Net Worth: $2.1 billion
A tech wizard who has earned huge success as well as wealth thanks to his innovative thinking. John Collison is an Irish Harvard dropout who co-founded Stripe, a company that builds software which allows websites and apps to link up with credit card and banking systems to receive payments.
The idea was formed whilst John was at Boston University, in collaboration with his brother Patrick. Stripe is now valued at $20 billion, and it made John Collison the world’s youngest self-made billionaire until Kylie Jenner smashed the records.
Evan Spiegel, aged 28
Net Worth: $2.1 billion
Co-founder and CEO of the revolutionary tech brand Snap Inc., which operates the ubiquitous smartphone app, Snapchat. Currently used by 170 million people around the world, the app is extremely popular amongst young people. It allows users to send photographs to friends which appear only temporarily before disappearing forever.
Spiegel’s humble beginnings at Stanford University on a product design degree could not have foretold his bright future. It was there he met co-founder, fraternity brother and fellow future billionaire, Bobby Murphy.
Snap Inc., began trading in March 2017, making Spiegel the youngest company CEO in the world. The pair own 18% each of the company but retain voting shares meaning they still have the decision making power.
Spiegel’s wealth has dropped slightly since last year, as competition from apps such as Instagram and TikTok make business more challenging for the young tech giant.
Ludwig Theodor Braun, aged 29
Net Worth: $1 billion
Inheritance is the source of Ludwig’s significant wealth, as he owns 10% of the medical device company B. Braun Melsungen AG. What began in 1839 as a small pharmacy offering herbal remedies is now one of the biggest medical instruments companies in the world. Ludwig’s father is currently at the helm of the business, a position he has held since 1977.
Anna Kasprzak, aged 29
Net Worth: $1 billion
Anna co-owns Danish shoe manufacturer ECCO with her brother and mother. The shoe brand, which is sold in over 90 countries was founded by Anna’s late grandfather, Karl Toosbuy in 1963.
Anna is also famous for being an Olympic dressage rider.
Patrick Collison, aged 30
Net Worth: $2.1 billion
Co-founder of Stripe and brother of John, Patrick helped devise the technology that allows easy internet transactions for businesses and individuals.
The Collison brothers must have known they were onto a good thing when they received investments from the likes of Elon Musk and Peter Thiel. The pair now live in San Francisco where their company is based.
Bobby Murphy, aged 30
Net Worth: $2.1 billion
Evan Spiegel’s friend and co-founder of Snap Inc., Bobby studied mathematics and computational science at Stanford University.
