Whether it’s due to extravagant inheritances, family business empires, or their own entrepreneurial successes, there are more young billionaires today than ever before. The youngest billionaire currently in existence is just 23 years old.
The following list profiles the ten world’s youngest billionaires and describes how each one acquired their extraordinary fortunes. Numbers as of March 24, 2020.
1. KYLIE JENNER
AGE: 22
NET WORTH: $1 BILLION
SOURCE OF WEALTH: COSMETICS
4. GUSTAV MAGNAR WITZOE
AGE: 26
NET WORTH: $2.3 BILLION
SOURCE OF WEALTH: FISH FARMING
Gustav Magnar Witzoe owns nearly half of SalMar ASA, one of the world’s largest salmon producers, which spearheaded the industrialization of salmon farming in Norway. The stake in the company was handed to him in 2013 by his father, Gustav Witzoe Sr., who still runs the company’s day-to-day operations, freeing Gustav to invest in real estate and tech startups. The Norwegian heir has dabbled in modeling.
5. JONATHAN KWOK AGE: 28
NET WORTH: $2 BILLION
SOURCE OF WEALTH: REAL ESTATE
Kwok, along with his older brother Geoffrey, inherited their late father Walter Kwok’s stake in Sun Hung Kai Properties, Hong Kong’s largest developer, in 2018. Shares of Hong Kong-listed SHKP have declined nearly 18% since the coronavirus outbreak at the start of the year.
7. JOHN COLLISON
AGE: 29
NET WORTH: $3.2 BILLION
SOURCE OF WEALTH: STRIPE
John Collison is the president and co-founder of Stripe, a company that builds software helping businesses facilitate online credit card payments. The Irish entrepreneur launched the company with his brother Patrick when they were both college students. After a round of funding in September 2019, John and his older brother Patrick, raised $250 million from investors. The company is valued at a whopping of $35 billion. John, born and raised near Limerick, Ireland, now lives in San Francisco, where Stripe is headquartered.
8. EVANS SPIEGEL
NET WORTH: $2.1 BILLION
AGe: 28 SOURCE OF WEALTH: TECHNOLOGY
Anna Kasprzak co-owns Danish shoe company ECCO with her brother André and mother Hanni. ECCO products are sold in 90 countries, generating close to $1.5 billion in yearly sales. As a dressage rider, Kasprzak placed 14th in the 2016 Olympics in Rio de Janeiro.
9. PEDRO DE GODOY BUENO AGE: 29
NET WORTH: $1.1 BILLION
SOURCE OF WEALTH: DIAGNOSTIC SERVICES
A newcomer to the billionaire ranks, Pedro is the son of the late Edson de Godoy Bueno (d. 2017), once Brazil’s richest healthcare billionaire. Bueno is the CEO and largest shareholder of laboratory services firm Diagnósticos da América SA, which has seen its shares nearly triple over the past year.
10. LISA DRAEXLMAIER AGE: 29
NET WORTH: $1 BILLION
SOURCE OF WEALTH: AUTO PARTS
Draexlmaier and her father, Fritz, are co-CEOs of Fritz Draexlmaier Holdings GmbH, the holding company of the autoparts maker of the same name. Lisa, now the sole owner, joins the billionaires’ list for the first time.
