Nyongesa Sande’s Youngest Billionaires 2024. For the first time in 15 years, there are no self-made billionaires under the age of 30.
Overview
Becoming a billionaire at a young age is an extraordinary achievement. The average age of a billionaire is 66, and the oldest is 102. However, some individuals have amassed significant wealth at a young age. This year, the 25 youngest billionaires on Nyongesa Sande’s World’s Billionaires list are all 33 or younger, with a combined worth of $110 billion. A few have built notable companies like Snap (Evan Spiegel, 33), Gymshark (Ben Francis, 31), and Oculus VR (Palmer Luckey, 31).
Most young billionaires inherited their wealth. For the first time since 2009, every billionaire under 30 inherited their fortune, indicating the start of the “great wealth transfer.”
The Youngest Billionaire
The youngest billionaire in the world is Brazil’s Livia Voigt, aged 19, and still in college. She is worth an estimated $1.1 billion due to her minority stake in WEG, an electrical equipment producer cofounded by her late grandfather. She and her older sister, Dora Voigt de Assis (26), are among the seven new faces among the 25 youngest billionaires, and two of the 18 heirs in this group.
Wealthiest Young Heirs
The wealthiest heirs are Ireland’s Mistry brothers, ages 25 and 27, each worth an estimated $4.9 billion, thanks to their stakes in Tata Sons, a Mumbai-based conglomerate. They inherited their stakes after the 2022 death of their father, Cyrus Mistry.
Other Notable Heirs
Other notable young billionaires who inherited their wealth include Italy’s Clemente Del Vecchio (19), who received a stake in EssilorLuxottica after his father, Leonardo Del Vecchio, passed away in 2022. Sophie Luise Fielmann (29) inherited her fortune from her father, Günther Fielmann, who passed away in January at age 84.
Generational Wealth Transfer
These inheritances illustrate the beginning of a generational wealth transfer among aging populations. In the United States, Baby Boomers and their elders hold $95.9 trillion of household wealth. Trillions are expected to transfer annually as affluent elderly pass away. Aging billionaires like Charles Koch (88) and Phil Knight (86) are preparing to pass their wealth to their children.
Self-Made Young Billionaires
Many self-made young moguls like Snap’s Bobby Murphy (35) and Meta’s Mark Zuckerberg (39) have grown older. This year, there is only one self-made newcomer among the 25 youngest: Japan’s Shunsaku Sagami (33), a merger and acquisitions dealmaker whose company M&A Research Institute Holdings uses AI to match clients. The company’s stock has spiked over 800% since it went public in June 2022, making Sagami a billionaire.
Wealth Changes
Nearly all of the 25 youngest billionaires are richer than last year. The largest year-over-year gain belongs to Red Bull heir Mark Mateschitz, whose fortune increased by $4.9 billion. Michal Strnad, who inherited and now runs the defense producer Czechoslovak Group, is worth $2.4 billion more than last year. Most of the youngest billionaires (15 or 60%) are from Europe, with others from Brazil, South Korea, Hong Kong (all heirs), Japan, and the United States (all self-made).
Youngest Billionaires List
Below are the 25 youngest members of the World’s Billionaires list, all aged 33 and under, ranked from oldest to youngest. NET WORTHS ARE AS OF MARCH 8, 2024. *SELF-MADE FORTUNES ARE MARKED WITH AN ASTERISK.
- Evan Spiegel*
Age: 33 | Citizenship: U.S. | Source of Wealth: Snapchat | Net Worth: $3.1 Billion - John Collison*
Age: 33 | Citizenship: Ireland | Source of Wealth: Stripe | Net Worth: $7.2 Billion - Shunsaku Sagami*
Age: 33 | Citizenship: Japan | Source of Wealth: M&A Brokerage | Net Worth: $1.9 Billion - Jonathan Kwok
Age: 32 | Citizenship: Hong Kong | Source of Wealth: Real Estate | Net Worth: $2.4 Billion - Mark Mateschitz
Age: 31 | Citizenship: Austria | Source of Wealth: Red Bull | Net Worth: $39.6 Billion - Ben Francis*
Age: 31 | Citizenship: United Kingdom | Source of Wealth: Gymshark | Net Worth: $1.3 Billion - Andy Fang*
Age: 31 | Citizenship: U.S. | Source of Wealth: DoorDash | Net Worth: $1.2 Billion - Michal Strnad
Age: 31 | Citizenship: Czech Republic | Source of Wealth: Weapons | Net Worth: $4.4 Billion - Palmer Luckey*
Age: 31 | Citizenship: U.S. | Source of Wealth: Virtual Reality, Defense Technology | Net Worth: $2.3 Billion - Stanley Tang*
Age: 31 | Citizenship: U.S. | Source of Wealth: DoorDash | Net Worth: $1.2 Billion - Gustav Magnar Witzøe
Age: 30 | Citizenship: Norway | Source of Wealth: Fish farming | Net Worth: $4.2 Billion - Sophie Luise Fielmann
Age: 29 | Citizenship: Germany | Source of Wealth: Optometry | Net Worth: $2.7 Billion - Leonardo Maria Del Vecchio
Age: 28 | Citizenship: Italy | Source of Wealth: Eyeglasses | Net Worth: $4.7 Billion - Katharina Andresen
Age: 28 | Citizenship: Norway | Source of Wealth: Investments | Net Worth: $1.7 Billion - Alexandra Andresen
Age: 27 | Citizenship: Norway | Source of Wealth: Investments | Net Worth: $1.6 Billion - Firoz Mistry
Age: 27 | Citizenship: Ireland | Source of Wealth: Diversified | Net Worth: $4.9 Billion - Dora Voigt de Assis
Age: 26 | Citizenship: Brazil | Source of Wealth: Industrial Machinery | Net Worth: $1.1 Billion - Zahan Mistry
Age: 25 | Citizenship: Ireland | Source of Wealth: Diversified | Net Worth: $4.9 Billion - Remi Dassault
Age: 22 | Citizenship: France | Source of Wealth: Inherited | Net Worth: $2.5 Billion - Luca Del Vecchio
Age: 22 | Citizenship: Italy | Source of Wealth: Eyeglasses | Net Worth: $4.7 Billion - Kim Jung-min
Age: 22 | Citizenship: South Korea | Source of Wealth: Online gaming | Net Worth: $1.4 Billion - Kevin David Lehmann
Age: 21 | Citizenship: Germany | Source of Wealth: Drugstores | Net Worth: $3.3 Billion - Kim Jung-youn
Age: 20 | Citizenship: South Korea | Source of Wealth: Online gaming | Net Worth: $1.4 Billion - Clemente Del Vecchio
Age: 19 | Citizenship: Italy | Source of Wealth: Eyeglasses | Net Worth: $4.7 Billion - Livia Voigt
Age: 19 | Citizenship: Brazil | Source of Wealth: Industrial Machinery | Net Worth: $1.1 Billion
These young billionaires showcase the beginning of significant wealth transfers and highlight the ongoing evolution of wealth creation and inheritance among the world’s richest individuals.
