Introduction
The new generation of entrepreneurs is holding their own in the business world, proving that age is just a number when it comes to creating wealth. While the likes of Bill Gates and Warren Buffet are household names, the world of billionaires is being increasingly populated by younger faces. From tech start-ups to cosmetics empires, these business moguls have made their mark early on. Here, we take a look at six of the world's youngest billionaires and how they made their fortune.
Kylie Jenner
At the age of 21, Kylie Jenner made headlines when she became the youngest self-made billionaire ever. The founder of her eponymous cosmetics line, Kylie Cosmetics, Jenner's net worth was estimated at $1 billion by Forbes in 2021. Her company's success was largely due to her massive social media following, as well as her strategic use of influencer marketing. Despite some controversy over the term "self-made", there's no denying Jenner's impressive achievement.
Alexandra Andresen
Alexandra Andresen, a Norwegian heiress, became the youngest billionaire in the world at age 19. Her fortune comes from her family's investment company Ferd, which she and her sister each received a 42.2% stake in. Now 24, Andresen's net worth is estimated at $1.2 billion. Despite her wealth, Alexandra lives a relatively low-key lifestyle and is a professional dressage competitor.
Gustav Magnar Witzøe
Gustav Magnar Witzøe is another young Norwegian billionaire, whose wealth comes from the world's largest salmon producer, Salmar ASA. The majority of the company was gifted to him by his father when he was just 19. Now 27, Witzøe's net worth is estimated at $4.4 billion. Beyond his stake in Salmar ASA, he's also made investments in real estate and tech start-ups.
Katharina Andresen
Katharina Andresen, like her younger sister Alexandra, also inherited a 42.2% stake in the family investment company Ferd. At 25, she’s one of the youngest billionaires in the world. Katharina, like her sister, tends to keep a low profile. Her net worth is also estimated at $1.2 billion.
Jonathan Kwok
Jonathan Kwok, at age 28, inherited his wealth from his late father Walter Kwok, who was former chairman of Hong Kong's largest developer, Sun Hung Kai Properties. Jonathan and his older brother, Geoffrey, took over their father's stake in Empire Group Holdings, a property developer focused on commercial and residential projects. Jonathan's net worth is estimated at $2.0 billion.
Evan Spiegel
Evan Spiegel, the CEO and co-founder of the popular social media platform Snapchat, became a billionaire at age 25. His wealth comes from the success of Snapchat, which went public in 2017. Now 30, Spiegel's net worth is estimated at $9.6 billion. He continues to innovate and expand Snapchat, maintaining its position as a major player in the social media world.
These successful young billionaires prove that with the right idea, strategy, and sometimes a bit of luck, age doesn't define success in the business world. They represent a new generation of entrepreneurs and business leaders who are shaping the future of their respective industries. Whether through inheritance or starting their own companies, these young billionaires provide inspiration for the next generation of entrepreneurs.