BusinessNEWS

From fish farming to cosmetics to snapchat – The world’s 10 youngest billionaires

Of the 2,095 billionaires in the world, only ten are under 30. Together, this bunch is worth $15.9 billion. These ten are from different parts of the globe, particularly the U.S., Brazil, Germany, Hong Kong, Ireland and Norway.

Despite the fall in global markets due to the COVID-19 pandemic, three people under 30 made the list for the first time this year. Pedro de Godoy Bueno, age 29, inherited assets from his billionaire father, Edson de Godoy Bueno, who died in 2017. The second new entrant is Lisa Draexlmaier, age 29, who owns and is co-CEO (with her father Fritz) of the holding company for German auto parts maker Fritz Draexlmaier Co & KG. Elizabeth Furtwaenger, 28, is now worth $1.2 billion after her father Hubert Burda gave her a 37.4% stake in the family’s media empire.

Of these 10, only 3 are self-made billionaires namely: Snapchat cofounder CEO Evan Spiegel, John Collison of payments startup Stripe and, makeup mogul Kylie Jenner. The seven others under 30 all inherited their wealth.

Collison, born and raised in Limerick, Ireland, but now living in San Francisco, is the richest billionaire under 30, with a fortune of $3.2 billion.

Jonathan Kwok, 28, first became a billionaire in his own right after his father, Hong Kong property mogul Walter Kwok, passed away in 2018.

Alexandra Andresen, now 23, has been a billionaire since she was 19 thanks to her stake in Ferd, the Norwegian investment company her father still runs.

Below are the 10 youngest members of the 2020 Billionaires list, starting with the youngest. Net worths were calculated using stock prices and exchange rates from March 18, 2020:

#1

KYLIE JENNER

AGE: 22

NET WORTH: $1 BILLION

SOURCE OF WEALTH: COSMETICS

The celebrity-turned-makeup-mogul is the world’s youngest self-made billionaire ever. In November, she inked a deal to sell a 51% stake in Kylie Cosmetics to beauty giant Coty Inc. for $600 million.

#2

ALEXANDRA ANDRESEN

AGE: 23

NET WORTH: $1.1 BILLION

SOURCE OF WEALTH: INVESTMENT FIRM

#3

KATHARINA ANDRESEN

AGE: 24

NET WORTH: $1.1 BILLION

SOURCE OF WEALTH: INVESTMENT FIRM

The Norwegian sisters each inherited 42% of the family-owned investment company Ferd in 2007. Their father Johan still runs Ferd and controls 70% of the voting rights via a dual-class share structure.

The sisters who come in second and third on this list; ALEXANDRA ANDRESEN (left) and KATHARINA ANDRESEN (right)

#4

GUSTAV MAGNAR WITZOE

AGE: 26

NET WORTH: $2.3 BILLION

SOURCE OF WEALTH: FISH FARMING

credit: CorD Magazine

Witzoe owns nearly half of Salmar ASA, one of the world’s largest salmon producers, which is still run by his father. The Norwegian heir has dabbled in modeling as well as tech and real estate investing.

#5

ELIZABETH FURTWAENGER

AGE: 28

NET WORTH: $1.2 BILLION

SOURCE OF WEALTH: PUBLISHING

Furtwaenger and her older brother Jacob were each given a 37.4% stake in the family’s German media company by their father, Hubert Burda, who is no longer a billionaire. Burda Media’s titles include the German editions of Elle and Playboy. Furtwaenger and her brother Jacob serve on the board of directors.

#6

JONATHAN KWOK

AGE: 28

NET WORTH: $2 BILLION

SOURCE OF WEALTH: REAL ESTATE

Jonathan Kwok and Vickie Li (Image: Tatler Hong Kong)

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, co-founder and president of Stripe Inc., poses for a photograph following a Bloomberg Television interview at the Web Summit in Dublin, Ireland, on Wednesday, Nov. 4, 2015.

Stripe, the payments company founded by John and his older brother Patrick, raised $250 million from investors at a $35 billion valuation in September 2019. John, born and raised near Limerick, Ireland, now lives in San Francisco, where Stripe is headquartered.

#8

EVAN SPIEGEL

AGE: 29

NET WORTH: $1.9 BILLION

SOURCE OF WEALTH: SNAP

The Snapchat cofounder is one of the youngest CEOs of a publicly-traded company in the world. After rallying in 2019, Snap stock is down 50% since the start of the year. Spiegel, who was born in the U.S., quietly became a dual American-French citizen in 2018, according to reports in the French press.

#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.

Source: Forbes

Related Articles

Back to top button