These ten youngest billionaires are already managing investment firms or chemical companies. Nine-figure net worth is already attached to their names. How about our net worth? It makes us re-evaluate our priorities and ask ourselves, “Am I on the right path?” So, who are they? Who made it to the list? Is Kylie Jenner, one of the youngest self-made billionaires in 2020, still included? The list includes a mix of sorts. Some were born with a golden spoon in their mouth, heirs to a massive inheritance, while one is a school dropout, and a few are a product of their ingenuity and hard work. From the oldest to the youngest, here’s the list of
THE TEN YOUNGEST BILLIONAIRES IN THE WORLD!
10. Sam Bankman-Fried
Net worth: $8.7 billion, Age: 29, The wealthiest among the pack is Sam Bankman-Fried, 29, the crypto magnate who founded two crypto-trading firms: Alameda Research was established in 2017, and FTX was launched in 2019. That’s incredible. In just a matter of four years, he was able to build two successful firms. He made building a company look easy. Effortless. What’s your secret, Sam? We are all ears. No wonder he became the wealthiest billionaire under 30 with a net worth of $8.7 billion. In addition, he is one of the richest blockchain billionaires, second to Coinbase CEO Brian Armstrong. His FTX tokens are worth over $5 billion. Let’s get to know him better. We might discover his secret. He earned a physics degree at the Massachusetts Institute of Technology. We all know how hard it is to get into MIT. You need to have a near-perfect score in your high school GPA or ACT. That means he is brilliant. So, we need to be intelligent to be a billionaire. After graduating from college, he became a trader at Jane Street Capital, a quantitative trading firm, before founding his own companies. What motivates him to establish his crypto exchange firm? Reports said that he was tired of the current crypto exchanges, so he made not only one but two. It is funny sometimes how boredom translates to wealth. But what makes him admirable is not only him being super-rich but because he has a heart of gold. He believes in paying it forward, so when he started his career in 2014 at Jane Capital, he had already set a goal to donate six figures a year. What a generous person! He lives by the principle of making as much money as he can so that he can give as much as possible. We all wish that all billionaires are like him. He is one of the president’s biggest donors. He donated $5 million to the pro-Biden super PAC (political action committee). Moreover, when he founded his two firms, he aimed to donate the money earned to charities. FTX and its affiliates have already donated $10 million to ease people’s suffering, alleviate poverty, and provide a better future. He also advocates effective altruism, a social movement that uses evidence and logic to determine the most effective way to improve other people’s lives.
9. Jonathan Kwok
Net worth: $2.4 billion, Age: 29, Next on the list is Jonathan Kwok, 29, from Hong Kong, who has a net worth of $2.4 billion. Unlike Sam, a self-made billionaire, Jonathan is one of those kids born into a wealthy family. He got his share in Sung Hung Kai properties from his late father. SHKP is the largest property developer in Hong Kong. As a director of Empire Group Holdings, he oversees the group’s real estate investments, project developments, and asset management operations. He is also a recipient of one-third of the five large family trusts.
8. Andy Fang
Net worth: $2.8 billion, Age: 29, Andy Fang, a Chinese-American tech entrepreneur and one of the four founders of DoorDash, has a net worth of $2.8 billion at the age of 29. As the chief technical officer, Andy Fang supervises the engineering team. He is in charge of the overall product vision. One day, Andy and his friends were in a local macaroon store, and the shop owner told them that he was struggling to fulfill all the orders. So, the two friends, Andy, a computer science student, and Stanley, a computer wizard, came up with an idea to make an online delivery app. Clever! DoorDash has solved this app’s delivery problem for that macaroon store and many local businesses. It currently has a 56% market share, making it the largest food delivery company in the United States. While many companies are forced to close due to the crisis or struggle to stay afloat, DoorDash has managed to thrive amidst the pandemic. They have turned crisis into an opportunity, taking advantage of the situation when people cannot freely go out, and only through delivery do they get to enjoy their cravings. Thanks to that, their revenue in 2020 jumped 241%, from $850 million to $2.8 billion.
7: Stanley Tang
Net worth: $1.9 billion, Age: 28, It probably is true that birds with the same feathers flock together. Stanley, a friend of Andy Fang, founded DoorDash in 2013, and now, he has a net worth of $1.9 billion at the age of 28. Stanley Tang is the chief product officer. As a kid, he has made websites and launched several successful products. Aside from being a computer wizard, he is also an author. Stanley has also published a book, Millions, at the age of 14 which became the best-selling book on Amazon. Like Sam Bankman-Fried, Stanley, together with his co-founders, has a mission to support each merchant in delivering its products and, in turn, help the local economy grow. It is inspiring to hear entrepreneurs who are not only after profits but also for the good of the community.
6. Gustave Magnar Witzoe
Net worth: $4.4 billion, Age: 27, Another heir is included on the list—this time from Norway. The 27-year-old Gustave Magnar Witzoe has a net worth of $4.4 billion. His father generously gifted him a stake in the company. Now, he owns almost 50% of SalMar ASA, the Norwegian salmon producer founded by his father in 1991. Then, last year’s robust market performance of SalMar doubled his fortune. Gustave said that the growth was attributed to the company’s efficient operations in reducing costs despite the economic turbulence due to the pandemic.
5. Austin Russell
Net worth: $2.4 billion, Age: 26, The next youngest billionaire is a college dropout. We cannot overemphasize the importance of a college education. The value of education has been hammered into our minds since we were kids – unless you get a college diploma, you can never be successful. It is the usual line of our parents. However, when we read the success stories of Steve Jobs, Bill Gates, Mark Zuckerberg, and even Albert Einstein, people who dropped out of school and became successful and super-rich were forced to believe otherwise. Austin Russell, an American inventor, also left school and founded Luminar Technologies. As the CEO of Luminar Technologies, he has a net worth of $2.4 billion. He took the spot of Kylie Jenner as this year’s youngest self-made billionaire at the age of 26. What made him quit school? After getting a $100,000 fellowship from Peter Thiel, a billionaire tech investor, he decided to leave school and use the money to fund Luminar Technologies, a start-up in Silicon Valley that manufactures LIDAR sensors for autonomous vehicles. LIDAR stands for light, detection, and ranging. Well, I believe he made the right decision to drop out of school.
4: Katharina Andresen
Net worth: $1.4 billion, Age: 25, At 25, she already has a net worth of $1.4 billion. Thanks to the inheritance she received through a stake in her family company, Ferd, a multi-billion dollar investment firm established in 2001. It is a Norwegian holding company that holds partial ownership in companies with industry, finance, and real estate. This kind of company does not have its goods and services. Instead, it owns shares of other companies to form a corporate group.
3: Alexandra Andresen
Net worth: $ 1.4 billion, Age: 24, Like the older Andresen, Alexandra Andresen also has a net worth of $1.4 billion. She owns 42% of Ferd, the source of her wealth, which made her one of the youngest billionaires in the world. Not only is she named the youngest billionaire on the Forbes list for three consecutive years, but she is also a three-time junior Norwegian champion in dressage riding.
2: Wang Zelong
Net worth: $3.3 billion, Age: 24, Next on the list is the youngest billionaire in all of Asia, and the second-youngest billionaire in the world is Wang Zelong, 24, from China. He inherited a stake worth more than $1.3 billion in CNNC Hua Yuan Titanium Dioxide Co. which trades on the Shenzhen Stock Exchange. It gives him a net worth of $3.3 billion. This company makes titanium dioxide pigments used in coatings, plastic, ink, and other materials. He also has shares in Lomon Billions Group, another company that also produces titanium dioxide in China.
1. Kevin David Lehmann
Net worth: $3.3 billion, Age: 18, And here comes the youngest billionaire in the world, a German teenager. At the age of 18, Kevin David Lehmann already has a net worth of $3.3 billion. He attributed his wealth to the 50% shares in Dm-Drogerie Markt, given by his father, Guenther Lehmann. The drugstore chain, Dm-Drogerie Market, was founded on August 28, 1973. It has tens of thousands of people working in its 2,000 stores throughout Germany, the largest retailer in revenues. The pandemic has boosted its growth as the demand for healthcare products and health-related stuff increases.
Some people are just born into it, while others have combined their ingenuity and hard work to be in the ranks of the elite few. So, do their stories about how they have amassed so much fortune pump you up to work harder or tap your latent potential? Who knows, in a couple of years, your name might be on the list. The stories of the self-made billionaires may be enough to inspire you to make the most of your time, talent, and resources and join those we have just mentioned.