Forbes has just unveiled its highly anticipated list of the world’s youngest billionaires, all of whom have achieved remarkable wealth before turning 33.
When combined, the list of 25 has a mind-blowing value of over $110 billion.
Some of this year’s title holders have achieved success through their own efforts, having built up businesses like Snapchat and Gymshark. However, others have benefited from inherited fortunes and generational wealth.
Mark Mateschitz has emerged as this year’s Forbes richest young billionaire, amassing a staggering fortune of $39.6 billion through his inheritance of nearly half of Red Bull.
An Austrian billionaire has surged ahead in the race for wealth, with a staggering lead of $32.4 billion. In second place is John Collison, whose net worth stands at $7.2 billion.
Additionally, Livia Voigt, a 19-year-old from Brazil, secured a place on the list due to her ownership stake of 3.1% in WEG Industries. This company specializes in the production of electric motors, generators, and various industrial machinery.
The teenager is currently pursuing her education in college, and has achieved a remarkable feat by being included in the list alongside her older sister Dora Voigt de Assis, who is 26 years old. Both of them are among the 25 youngest billionaires, with a net worth of $1.1 billion.
According to Forbes, it is noteworthy that all billionaires under the age of 30 have inherited their fortunes, marking a significant trend after a span of 15 years.
Most of the 25 individuals who secured a place on the list have seen an increase in their wealth compared to last year. Interestingly, a significant majority of the youngest billionaires, specifically 15 out of 25, hail from Europe.
Out of the total, 10 individuals hail from different parts of the world, including wealthy heirs from Brazil, South Korea, and Hong Kong, as well as self-made billionaires from Japan and the United States.
1. Mark Mateschitz, 31, $39.6billion (Red Bull)
The Austrian entrepreneur is an incredibly wealthy individual who has inherited billions of dollars and possesses a 49 percent ownership stake in the popular energy drink company, Red Bull.
The energy drink was co-founded by his father, Dietrich Mateschitz, in 1987. He later took over a significant portion of the business in 2022 following his father’s passing.
Dietrich was a co-founder of Red Bull alongside Thai businessman Chaleo Yoovidhya. It’s worth noting that Chaleo’s son, Chalerm, has also achieved billionaire status.
Prior to his father’s passing at the age of 78, Mateschitz had been in charge of Red Bull‘s organic division. However, he made the decision to resign from his position as he preferred not to hold both roles of an employee and shareholder within the same company.
In addition, he serves on the board of the Red Bull Wings for Life Foundation, which is primarily managed by his mother.
Red Bull has achieved remarkable success since its launch, with over 100 billion cans sold globally. In 2023 alone, they sold over 12 billion cans, contributing to a revenue of $11.6 billion in the previous year.
2. John Collison, 33, $7.2billion (Stripe)
John Collison, a self-made billionaire, along with his younger brother Patrick, sold their first start-up for $5 million back in 2007, when John was still in secondary school.
The business, called Automatic, is an eBay management software created by the brothers and Harj and Kulveer Taggar.
However, the sale of the company marked only the initial milestone on Collison’s path to amassing a billion-dollar fortune.
The pilot and pianist, who graduated from Harvard, co-founded Stripe, a payment software that received support from notable figures such as Elon Musk, Peter Thiel, Max Levchin, and Sequoia Capital.
In November 2016, the Collison brothers achieved a remarkable milestone by becoming the world’s youngest self-made billionaires. Their net worth soared to at least $1.1 billion following a significant investment in Stripe from CapitalG.
In February, there was an employee tender offer that valued the company at a staggering $65 billion.
3. Firoz Mistry, 27, $4.9billion (Tata Sons)
Firoz and Zahan Mistry, along with their brother, have amassed a staggering net worth of $4.9 billion, making them one of the wealthiest individuals under the age of 30.
Mistry holds a 4.6 per cent stake in Tata Sons, which is an Indian conglomerate that has ownership over 29 public companies, including Tata Consultancy and Tata Motors.
Last year, the parent company of the Tata Groups generated an impressive $150 billion in revenue.
Mistry received his stake in the business in 2022 following the unfortunate passing of his father in a car accident. Tragically, this occurred less than three months after the demise of his grandfather, who served as the sole chairman of Tata and held the largest individual share in the company until his passing at the age of 93.
His uncle Shapoor Mistry asserts ownership of the remaining 18.4 per cent stake in the business.
4. Zahan Mistry, 25, $4.9billion (Tata Sons)
Zahan Mistry received a 4.6% stake in Tata after his father passed away, just like his older brother.
However, the billionaire also holds a significant 25 per cent stake in Shapoorji Pallonji Group, a prominent construction company in India.
According to a report by the Economic Times in 2022, both he and his brother have received training from Shapoor Mistry to manage the business.
The pair were also appointed to executive positions within the company, as they played a crucial role in reviving the business that had been struggling with debt following their father’s passing.
Despite being Irish citizens, he and his brothers reside in Mumbai, which is home to both the SP Group and Tata.
5. Luca Del Vecchio, 22, $4.7billion (Delfin)
At a mere 22 years old, Luca Del Vecchio, an Italian, owes his incredible fortune to his 12.5% ownership of Delfin. This holding company has stakes in the eyeglasses giant EssilorLuxottica.
Delfin also holds stakes in the insurer Generali, the banks Mediobanca and UniCredit, and the real estate developer Covivio.
Vecchio is one of six children of Leonardo Del Vecchio, the former chairman of EssilorLuxottica.
Luxottica is a global leader in the production and sale of glasses and frames, boasting an impressive workforce of 77,734 employees and a vast network of over 8,000 stores.
Vecchio inherited his stake in Delfin after his father passed away in 2022. He shares this inheritance with his step-mother and six siblings.
Vecchio’s father had an estimated net worth of $24.1 billion at the time of his passing, which placed him as the second wealthiest individual in Italy and the 54th globally.
6. Leonardo Maria Del Vecchio, 28, $4.7billon (Delfin)
Del Vecchio also holds a 12.5 per cent stake in Delfin – EssilorLuxottica, as he is Luca Vecchio’s brother.
Del Vecchio holds the position of chief strategy officer in the company that is the owner of the renowned designer eyewear brand, Ray-Ban.
In November 2017, he became a member of Luxottica’s Wholesale team in the EMEA Region.
He prioritized providing support to the largest wholesale subsidiaries in Europe and the Middle East.
In recent times, Leonardo Maria has effectively overseen one of Group’s significant retail endeavors: the opening of flagship Ray-Ban stores in Milan, Rome, and Verona.
He is one of just two of his father’s heirs who work at the company. Additionally, he holds the position of CEO at eyeglasses retailer Salmoiraghi & Viganò, which was acquired by EssilorLuxottica in 2016 for an undisclosed amount.
7. Clemente Del Vecchio, 19, $4.7billion (Delfin)
Clemente, who is also a Vecchio sibling, is the fourth person under 33 to inherit the eyewear fortune.
He owns 12.5% of the holding company Delfin, just as his older siblings.
Along with his brother Luca, he is one of the two children Del Vecchio had with Sabina Grossi, the former head of investor relations at Luxottica.
Vecchio became the youngest billionaire in history at the age of eighteen in 2022 after receiving his share of his father’s wealth.
Vecchio is said to own a number of opulent residences throughout Italy, such as an apartment in Milan and a villa near Lake Como.
At the moment, the three brothers reside in Milan, Italy.
8. Michal Strnad, 31, $4.4billion (CSG)
At the conclusion of the Cold War, Michal Strnad’s father operated a small scrapyard in the Czech Republic, where he first restored outdated Soviet machinery.
After that, he turned the company into the $3.2 billion Czechoslovak Group (CSG), a defense manufacturer with its headquarters located in Prague.
CSG was founded in 1995 and is active in a number of important industries, such as the railway, automobile, ammunition, aerospace, and defense sectors.
Among other goods, the company manufactures active radars, special army trucks, and army vehicles.
In 2018, Strnad assumed control of the business and was appointed CEO.
Historically one of the major European producers for the defense industry, CSG is the fourth largest ammunition manufacturer in the EU.
Additionally, PRIM, a classic Czech watchmaker, is owned by the mega-company.
9. Gustav Magnar Witzøe, 30, $4.2billion (SalMar ASA)
When the Norwegian billionaire’s father gave him almost half of the massive salmon fish farming company SalMar ASA, he was just 19 years old.
His father turned him into SalMar’s largest shareholder, making him one of the world’s youngest billionaires.
In addition to being one of the biggest producers of farmed salmon worldwide, SalMar also holds a sizable share in Scottish Sea Farms, the second-biggest salmon grower in the United Kingdom.
Witzøe’s father still oversees the company more than ten years later, but he now concentrates on real estate and tech start-up ventures.
He was formerly employed by MGM Property and has made investments in Keybutler and Gopi.
He was formerly employed by MGM Property and has made investments in Keybutler and Gopi.
After giving the government almost $29.6 million in 2022, Witzøe is currently the richest person in Norway and the largest taxpayer.
SalMar claims to produce enough fish each night to feed all of Norway.
10. Kevin David Lehmann, 21, $3.3billion (dm-drogerie markt)
At the young age of 14, Lehmann received a significant gift from his father – a 50 per cent stake in Germany’s top drugstore brand, dm-drogerie markt.
Both he and his father have chosen to remain uninvolved in the company’s operations, despite its impressive annual revenue of over $1.4 billion. They prefer to maintain a low profile.
The company was founded in 1973 by Goetz Werner, who opened his first shop in Karlsruhe, Germany. Today, dm has grown to have approximately 3,700 locations.
In 1974, Kevin David Lehmann’s father, Guenther, made an investment in dm while he was managing his family’s Pfannkuch grocery chain.
In 2017, Guenther transferred his 50% dm stake to Lehmann, which resulted in him becoming one of the world’s youngest billionaires.
11. Evan Spiegel, 33, $3.1billion (Snapchat)
The founder of Snapchat has earned a remarkable fortune of $3.1 billion through his own efforts, which has contributed to his widespread popularity.
In 2011, Spiegel made the decision to leave Stanford and embark on the creation of a photo-sharing app alongside his fraternity brothers Bobby Murphy and Reggie Brown.
Spiegel’s Snapchat app had achieved a significant milestone by the end of 2012, with one million daily active users.
As a result, he achieved billionaire status before the age of 25, and he continues to hold the position of CEO for the brand.
He and Murphy, both 35, collectively own approximately 25% of Snap Inc, which generated a substantial $4.6 billion in revenue last year.
In February 2017, Spiegel and Murphy made a commitment to contribute more than 13,000,000 shares of Class A common stock to a non-profit organization focused on arts, education, and youth. This generous donation will be spread out over the next 15 to 20 years.
They have established the Snap Foundation, a non-profit organization dedicated to providing assistance in these areas.
12. Sophie Luise Fielmann, 29, $2.7billion (Fielmann)
Sophie Fielmann is the daughter of Günther Fielmann, a businessman credited for introducing low-cost eyewear to Germany.
A greater selection of frames could be offered to the portfolio for patients with insurance coverage thanks to a deal that Fielmann secured with the statutory health insurance company in 1981.
The majority of Günther’s money was bequeathed to his two children, Sophie and Marc, upon his death in January.
Since 2019, Marc, 34, has been leading the Fielmann AG ship; nevertheless, Sophie does not play an operational role in the eyewear company.
She continues to hold around a third of the shares, which has given her the current wealth.
Fielmann AG is the leading optician in Germany and Europe as of 2022, employing 22,631 people.
The firm founded the non-profit Fielmann-Akademie in 2001. Situated in Plon Castle, Schleswig-Holstein, it has served as an optometry training facility since 2002.
13. Remi Dassault, 22, $2.5billion (Dassault Systems)
After his father passed away in a helicopter crash in 2021 at the age of 69, Remi inherited his enormous fortune.
His estimated 2.5 percent ownership in the French software corporation Dassault Systems accounts for the majority of his $2.5 billion fortune.
The company employs over 22,500 people and has 12 brands in its portfolio that are used in a range of industries.
Additionally, Dassault owns 4.1% of Dassault Aviation.
French company Dassault Aviation SA produces corporate jets and military aircraft.
According to Forbes, the young billionaire’s great-grandfather, a Holocaust survivor, started the process of creating the enormous family fortune when he created an aviation propeller that the French employed in the First World War.
14. Jonathan Kwok, 32, $2.4billion (Empire Group Holdings)
The Hong Kong real estate business of Kwok and his 38-year-old brother Geoffrey is the source of their wealth.
He is the youngest child of the late Walter Kwok, the former chairman of Sun Hung Kai Properties (SKHP), the biggest developer in Hong Kong.
After being removed from his chairmanship in 2008 due to a falling out with his two brothers, Thomas and Raymond, Walter passed away in 2018.
Following his demise, Kowk and his sibling assumed control of Empire Group Holdings, an estate developer that Walter founded subsequent to his departure from SHKP.
Kwok is a director of Empire Group Holdings, where he is in charge of project development, asset management, and real estate investments.
Jonathan held positions as a trading desk analyst at CMB International Securities and as an investor in listed real estate at CSI Properties prior to joining the family business.
In addition to inheriting Walter’s direct interest in SHKP, the brothers are designated beneficiaries of three of their grandmother’s five sizable family trusts.
15. Palmer Luckey, 31, $2.3billion (Oculus VR)
Luckey, a self-made billionaire, founded Oculus VR and made his money by selling a virtual reality headgear he had constructed when he was just 16 years old.
In addition, he created the head-mounted display known as the Oculus Rift, which is largely responsible for the VR industry’s comeback.
Facebook purchased Oculus VR in March 2014 for a reported $2 billion. Although Luckey’s ownership was kept private, Forbes magazine estimated the founder’s net worth to be $700 million in 2015.
After leaving Oculus in 2017, Luckey started the defense technology startup Anduril Industries, which specializes in autonomous drones and sensors for military usage.
In March 2018, Anduril initiated a trial program for the US government to identify drug smuggling and human trafficking in isolated regions along the southern border of the US; during the program’s first 12 days of operation, 55 attempted entrants were apprehended.
Since then, the prosperous tech startup has started shipping drones to Ukraine. In a December 2022 investment round, Anduril was valued at an astounding $8.5 billion.
16. Shunsaku Sagami, 33, $1.9billion (M&A Research Institute)
The founder and CEO of M&A Research Institute, a Tokyo-based M&A advice firm that uses artificial intelligence (AI) to advise customers, is Shunsaku Sagami.
The M&A Research Institute concentrates on small and medium-sized companies that are seeking acquisitions, including companies whose owners have no heirs.
In Japan, which is struggling with having the oldest population in the world, this proven to be a great hit among companies.
Following his graduation from Kobe University, Sagami worked in advertising before launching and eventually selling an IT company in 2015.
It was this encounter that gave him the idea to launch his M&A consultancy firm in 2018.
In June 2022, the company went public on the Tokyo Stock Exchange’s Growth Bourse for Startups.
In the past, Sagami has claimed credit for the concept from his grandpa, who devoted his entire life to managing a modest real estate company in his native Osaka.
When he retired in his 80s, he was forced to close it down since he could not find a replacement.
17. Katharina Andresen, 28, $1.7billion (Ferd)
42% of the investment firm Ferd, which specializes in private Nordic enterprises and real estate, is owned by the Norwegian heiress.
In June, Andersen joined the board as a member after gaining experience as an observer for a number of years.
Before Andresen’s father sold it in 2005, her great-great grandfather had bought the tobacco manufacturer Tiedemanns Tobaksfabrik in 1849 and turned it into a family cigarette empire.
This was the start of the family’s incredible journey to build fortune that has been passed down through the generations to Andersen and her sister.
18. Alexandra Andresen, 27, $1.6billion (Ferd)
Andersen shares a 42% ownership in Ferd and is a board member, just like her sister Katharina.
She also enjoys riding horses, and the young billionaire owns Andresen Dressage, an Oslo horse breeding stable.
Andersen is a three-time junior Norwegian dressage champion and was formerly a competitive rider.
However, this had to halt when back problems associated with spinal stenosis emerged.
Additionally, Andersen has modeled multiple times for the equestrian apparel brand KingsLand.
19. Kim Jung-min, 22, South Korea (Nexon)
She owns about nine percent of the South Korean Japanese online game producer Nexon, along with her sister Jung-youn.
In 1994, their late father Kim Jung-ju launched the firm.
Well-known games including MapleStory, Dungeon & Fighter, Sudden Attack, and KartRider are published by Nexon.
The corporation is based in Japan, with offices in Taiwan, Thailand, South Korea, and the US.
20. Kim Jung-youn, 20, South Korea (Nexon)
Like her sister, Jung-youn owns 9% of Nexon, primarily through NXC, the holding firm, and Wise Kids, another business.
After their father passed away, the sister and Jung-min paid a sizable inheritance tax in exchange for NXC shares, which gave the government a 29.3% ownership position in the business.
Now, the sisters own a massive 36.7%.
21. Ben Francis, 31, $1.3billion (Gymshark)
The workout gear and accessory company Gymshark was launched in 2012, and the billionaire British businessman is the company’s CEO and primary owner.
Francis had a net worth of $1.3 billion as of April 2023, having invested more than 70% of his money in Gymshark, which is currently valued at $1.45 billion by investors.
He and his friend Lewis Morgan founded Gymshark when they were 19-year-old college students working as Pizza Hut delivery drivers. Initially, they utilized the platform to resell supplements they had purchased in bulk for a tiny profit.
Their sportswear brand began when they began sewing and screen printing workout apparel in Francis’ parents’ garage.
One of the first companies to use social media influencers extensively was Gymshark.
22. Andy Fang, 31, $1.2billion (DoorDash)
In order to create DoorDash in 2013, Fang’s first roommate Stanley Tang teamed up with 39-year-old MBA student Tony Xu.
They noticed that the only restaurants in their neighborhood were a Domino’s and a little Chinese restaurant, so they decided to open a business.
The owners of the original PaloAltoDelivery.com believed that most small local businesses were still struggling with meal delivery.
23. Stanley Tang, 31, $1.2billion (DoorDash)
This year, he and his pal Fang made a comeback to the billionaire list following a difficult 2022 in which the company’s massive net losses caused its stock price to drop.
After suffering significant layoffs at the start of the previous year, the online food ordering and delivery platform managed to boost its revenue by 31% to $8.6 billion.
Additionally, they reduced their net losses from 2022 to $558 million, a decrease of about 60%.
This was sufficient to increase investors’ faith in the company, as seen by the stock rising 12.7 percent annually.
Tang is in charge of DoorDash Labs, the company’s robotics and automation division.
24. Livia Voigt, 19, $1.1billon (WEG Industries)
Livia Voigt, a Brazilian who turns 20 in July, is now the youngest billionaire in the world.
She owns 3.1% of WEG and has received millions in dividend income, just like her sister Dora.
WEG is a Brazilian business that works in the fields of automation technology, power, and electric engineering.
The company, which has its headquarters in Brazil, manufactures electric motors, generators, drives, turbines, transformers, and coatings.
By 2023, WEG will have operations in about 100 countries and employ about 39,000 people.
It is among the biggest producers of electric motors worldwide.
Voigt is a student at the moment, finishing his psychology education.
25. Dora Voigt de Assis, 26, $1.1billon (WEG Industries)
The millionaire cofounder of the Brazilian electrical equipment manufacturer WEG, Werner Ricardo Voigt, passed away in 2016, leaving behind her and her sister Livia as his youngest grandchildren.
Slightly smaller than the 3.9% stakes held by their older cousins Eduardo and Mariana, they each control 3.1% of WEG.
Dora and her sister are not employed by WEG in an operational capacity.
