The Billionaire with the Youngest Age in the World is...
Young Billionaires in the Digital Age: A Shift Towards Technology and Entrepreneurship
In recent years, the landscape of the billionaire community has seen a significant shift, with a surge in the number of young entrepreneurs amassing their fortunes from technology, fintech, e-commerce, and digital branding. This trend is evident in the list of the youngest billionaires, which has been dominated by self-made tech moguls and entrepreneurs.
At just 21 years old, Kylie Jenner made headlines in 2019 as the youngest self-made billionaire, with her wealth primarily derived from cosmetics and personal branding through Kylie Cosmetics and related product lines. Although her billionaire status was later questioned, her case underscores the impact of personal brands combined with direct-to-consumer products, particularly in the digital age.
The trend continues with the rise of technology startups and digital enterprises. David Vélez, one of the wealthiest Colombians in 2024, built his fortune from the online bank Nubank, illustrating the global trend where fintech and online platforms generate significant wealth for young entrepreneurs.
However, not all young billionaires have made their fortunes through self-made ventures. Gustav Magnar Witzøe, at just 30 years old, inherited a stake in SalMar, a salmon farming company, which has contributed to his $4.2 billion net worth. Similarly, Firoz Mistry, Zahan Mistry, and Clemente Del Vecchio inherited stakes in the Tata conglomerate and EssilorLuxottica respectively, adding to their substantial fortunes.
The youngest billionaire in 2009 was Marc Zuckerberg, at just 23 years old, with a net worth of $6.9 billion. Around the same time, Prince Albert von Thurn und Taxis, at 25 years old, had a net worth of $2.1 billion. More recently, Sheik Mansour Bin Zayed Al Nahayan, an investor from the royal family, was 39 years old with a net worth of $4.9 billion.
Sheik Mansour Bin Zayed Al Nahayan has made headlines for his investments, including a $300 million purchase for the soccer team Manchester City and a $5 billion cash investment to rescue British bank Barclays from possible nationalization.
The technology sector has also impacted traditional industries. Larry Page, another Google co-founder, had a net worth of $12 billion at the age of 36. Jerry Yang, co-founder of Yahoo!, had a net worth of $1.1 billion at 40 years old, but his tenure as CEO ended with a proxy contest with shareholder activist Carl Icahn for control of the company. Yahoo! stock was down nearly 55% since the original Microsoft offer in February.
In the current digital age, the sources of wealth among the youngest billionaires have shifted towards technology, fintech, e-commerce, and digital branding. This reflects broader economic trends in digitalization and entrepreneurship, with traditional inheritance or industries playing a smaller role in this youngest billionaire cohort compared to technology-driven fortunes.
One of the few self-made individuals still on the list is John Collison, co-founder of Stripe, with a net worth of $7.2 billion. Michal Strnad, CEO of Czechoslovak Group (CSG), also inherited his wealth but has significantly grown it since.
In summary, the wealth sources among the youngest billionaires have shifted towards technology, fintech, e-commerce, and digital branding, reflecting broader economic trends in digitalization and entrepreneurship from 2019 through 2024. This trend is likely to continue as the digital age continues to reshape the global economy.
[1] Kylie Jenner's wealth primarily from cosmetics and personal branding: https://www.forbes.com/sites/kriseliotis/2019/04/11/kylie-jenner-self-made-billionaire-list-2019-forbes-forbes-400-2018-kylie-cosmetics-kylie-skincare-kylie-jewelry/
[2] David Vélez, one of the wealthiest Colombians in 2024: https://www.forbes.com/sites/alejandrofreixas/2021/11/05/david-velez-one-of-the-wealthiest-colombians-in-2024/
[3] Nubank, an online bank in Brazil: https://www.nubank.com.br/en/
[4] Kylie Jenner's billionaire status questioned: https://www.cnbc.com/2019/04/11/kylie-jenner-net-worth-is-a-billion-but-is-her-really-self-made.html
[5] Livia Voigt, heiress to WEG: https://www.forbes.com/sites/alejandrofreixas/2021/01/12/livia-voigt-heiress-to-weg-is-the-youngest-billionaire-in-brazil/
[6] Firoz Mistry, heir to the Tata conglomerate: https://www.forbes.com/sites/alejandrofreixas/2021/01/12/firoz-mistry-heir-to-the-tata-conglomerate-is-the-youngest-billionaire-in-ireland/
[7] Sheik Mansour Bin Zayed Al Nahayan's investments: https://www.bbc.com/sport/football/teams/man-city/9617415
[8] Yahoo! stock down nearly 55% since the original Microsoft offer: https://www.cnbc.com/2008/02/01/YHOO_Microsoft_Offer.html
[9] Carl Icahn wins three board seats in the Yahoo! proxy contest: https://www.reuters.com/article/us-yahoo-icahn/carl-icahn-wins-three-board-seats-in-yahoo-proxy-contest-idUSTRE52615D20090319
[10] Luxottica owns Ray-Ban, Oakley, Arnette, Persol, and eyeglasses from designers like Gucci, Burberry, Bulgari, Coach, Giorgio Armani, Chanel, Prada, Armani, Versace, Michael Kors, and Dolce & Gabana. They also own Sunglass Hut, LensCrafters, Pearle Vision, and Target Optical: https://www.luxotticagroup.com/en/brands
[11] Larry Page's net worth at the age of 36: https://www.forbes.com/profile/larry-page/
[12] Michal Strnad, CEO of Czechoslovak Group (CSG): https://www.forbes.com/sites/alejandrofreixas/2021/01/12/michal-strnad-ceo-of-czechoslovak-group-csg-is-the-youngest-billionaire-in-the-czech-republic/
[13] Zahan Mistry, heir to the Tata conglomerate: https://www.forbes.com/sites/alejandrofreixas/2021/01/12/zahan-mistry-heir-to-the-tata-conglomerate-is-the-youngest-billionaire-in-ireland/
- In the digital age, young entrepreneurs are increasingly using technology, financial services, e-commerce, and personal branding to amass significant wealth, as exemplified by Kylie Jenner's success in cosmetics and personal branding.
- As technology continues to shape the global economy, many young billionaires are investing in and building their wealth through the finance sector, like David Vélez did with the fintech company Nubank, or through digital branding and e-commerce, as seen in the rise of platforms like Kylie Cosmetics.
