According to Forbes, this is the first time in 15 years where all billionaires under 30 have inherited their fortunes.
While the average age of billionaires sits at around 66 years old, some individuals are fortunate enough to reach this milestone at a young age.
A couple of billionaires in their early 30s are self-made, having founded notable companies such as Snap (Evan Spiegel, 33), Gymshark (Ben Francis, 31) and Oculus VR (Palmer Luckey, 31). However, for this year’s Forbes report, all billionaires under 30 have inherited their wealth from successful relatives.
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Generational wealth
Over the next two decades, $84 trillion in assets are set to pass onto heirs and charity in what is called “the great wealth transfer.”
Today’s youngest billionaire is Livia Voigt from Brazil. At only 19 years old, she inherited a stake in her late grandfather’s company, WEG. As a result, she and her sister Dora Voigt (26) now have a net worth of $1.1 billion each.
The wealthiest of these heirs are the Mistry brothers, Firoz (27) and Zahan (25). They each have a net worth of $4.9 billion, mostly from their stakes in Tata Sons. Unfortunately, they received their wealth after both their grandfather and father passed away within three months of each other.
The Del Vecchios (who have stakes in Luxottica) and Sophie Luise Fielmann (of Fielmann AG, an eyewear company) also received their multi-billion fortunes after their fathers passed away. Neither the youngest Del Vecchio, Luca, or Fielman have a role in their late parents’ companies.
Self-made fortunes
Among all the newcomers in the list of 25 youngest billionaires, only one is self-made. Shunsaku Sagami (33) from Japan earned over a billion dollars through his company M&A Research Institute Holdings.
While it’s difficult to become a successful young entrepreneur, it’s no easy feat to hold onto the fortune either. Last year, Ryan Breslow (28) was the youngest self-made billionaire because of his startups Bolt, Eco, and Love. Just a year later, he’s already fallen off the list.
Of the 25 people in the list, Ireland’s John Collison (33) is the wealthiest self-made billionaire with a net worth of $7.2 billion. He and his brother Patrick founded the payment software Stripe, which is now valued at $65 billion.
Banner image via Instagram @jessicamichel and @leonardo_mdv.
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