Youngest billionaires in the world 2024

Today we are taking a look at the top 10 youngest billionaires in the world, their net worth, their age, their source of wealth, and more. Let’s start with the youngest billionaire in the world;

 

1. Clemente Del Vecchio

 

Net worth: $4.2B

Age:  19 

 

Clemente Del Vecchio became the youngest billionaire in the world at 18 after his father’s death in 2022. Clemente Del Vecchio is one of six children of Leonardo Del Vecchio, the late chairman (d. 2022) of EssilorLuxottica, the world’s largest eyeglasses firm. The company that owns Ray Ban amongst other eyewear brands.

 

He inherited a 12.5% stake in his father’s Luxembourg-based holding company Delfin which has stakes in various company part from the eyewear brand such as insurer Generali, banks Mediobanca and UniCredit, and real estate developer Covivio. He is currently residing in Italy.

 

2. Kevin David Lehmann

Net worth: $2.5 B

Age: 21

 

He was the youngest billionaire in 2022. This year he ranks 2nd on the list.

 

Kevin David Lehmann’s worth is a combination of family money and investment turned into a fortune. His net worth comes from owning a 50% stake in the German drugstore chain called dm (drogerie markt).

 

His father was a businessman and invested heavily in the drugstore chain. He then transferred his share of the company to his son. Interestingly, both he nor his father ever had any role in the operation and management of the company. They were only investors.

 

3. Luca Del Vecchio

Net worth: 4.2 B

Age: 22

 

Luca is the brother of Clemente Del Vecchio (number one on the list) and one of six children of Leonardo Del Vecchio, the late chairman (d. 2022) of EssilorLuxottica, the world’s largest eyeglasses firm.

 

He inherited a 12.5% stake in his father’s Luxembourg-based holding company Delfin which has stakes in various company part from the eyewear brand such as insurer Generali, banks Mediobanca and UniCredit, and real estate developer Covivio.

 

He resides along with his brother in Milan, Italy.

 

4. Alexandra Andresen 

 

Net worth: $1.5B

Age: 27

 

Alexandra Andresen is the daughter of Norwegian billionaire Johan H. Andresen Jr., who owns multiple businesses in Norway. They are the owner of the finance and investment company called Ferd.

 

She became the youngest billionaire in 2016 when her father transferred the company’s stake to both of his daughters. Her sister Katharina is also on the list of the youngest billionaire.

 

 

5. Leonardo Maria Del Vecchio

 

Net worth: 4.2 B

Age: 28

 

Leonardo is the half-brother of Luca Del Vecchio and Clemente Del Vecchio (3rd and 1st on the list) and is one of six children of Leonardo Del Vecchio, the late chairman (d. 2022) of EssilorLuxottica, the world’s largest eyeglasses firm.

 

He inherited a 12.5% stake in his father’s Luxembourg-based holding company Delfin after his death.

 

He serves as the chief strategy officer of EssilorLuxottica. He is also the CEO of eyeglasses retailer Salmoiraghi & Viganò, which EssilorLuxottica acquired in 2016.

 

6. Katharina Andresen

 

Net worth: $1.5 B

Age: 28

 

Katharina Andresen is the older sister of Alexandra Anderson and 4th youngest billionaire on the list. The Norwegian heiress gained a substantial fortune when her father distributed 42% of the stake in the family-owned investment business, “Ferd”.

 

The Anderson family is well-known in Norway for their tobacco business. The family sold their stake in the tobacco business in 2005.

 

7. Ryan Breslow

 

Net worth: $1.1 B

Age: 29

 

The only self-made person on the list, Ryan Breslow is an American entrepreneur and co-founder of multiple companies including Bolt, Eco, Love, and The Movement. He is a Stanford dropout.

 

His company Bolt is valued at $11 Billion and he offers 4 day work week to all his employees. His personal net worth is $1.1 Billion.

 

8. Gustav Magnar Witzoe

 

 

Net worth: $3.8 B

Age: 30

 

Gustav Magnar Witzøe, holds a significant share of Salmar ASA, a global giant in salmon production. His impressive stake in the company, gifted to him by his father Gustav Witzoe in 2013.

 

Founded by Gustav Witzoe Sr. in 1991, Salmar has played a pivotal role in revolutionizing fish farming in Norway, elevating it to an industry leader.

 

It’s noteworthy that Gustav Magnar’s father, Gustav Witzoe, still actively manages the company, ensuring its continued success.

 

In the meantime, Gustav Magnar Witzøe is forging his own path, diversifying his investments into real estate and tech startups.

 

 

9.  Mark Mateschitz

 

Net worth: $39 B

Age: 31

 

Mark Mateschitz, the sole heir of his late father, Austrian billionaire Dietrich Mateschitz, holds a substantial 49% stake in Red Bull, the iconic energy drink company co-founded by his father in 1987. This inheritance of a significant ownership share followed the passing of Dietrich Mateschitz in October 2022 at the age of 78.

 

Notably, Red Bull’s global reach and success are nothing short of extraordinary. In 2022 alone, the company sold a staggering 11.6 billion cans of its energy drink worldwide, a quantity substantial enough to caffeinate the entire global population.

 

10. Jonathan Kwok

Net worth: $2.3 B

Age: 31

 

Jonathan Kwok is the younger son of Walter Kwok, who used to be the boss of Sun Hung Kai Properties, the biggest property company in Hong Kong. Walter passed away on October 20, 2018, when he was 68. He lost his position as the boss of the company in 2008 because of a disagreement with his brothers, Thomas and Raymond.

 

After Walter died, Jonathan and his brother, Geoffrey, started leading Empire Group Holdings, a company that builds properties, which Walter set up after he left Sun Hung Kai Properties.

 

The brothers also got Walter’s share in Sun Hung Kai Properties and are supposed to get a part of the wealth from five big family savings accounts that their grandmother had.

 

 

The data presented above is updated according to Forbes Real Time Billionaire List as of Feb 2024.

 

 

Interested in how we think about the markets? Read more: Zen And The Art Of Investing

 

Watch here: ELSS: Saving tax through mutual funds

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