Top 10 youngest billionaires in the world in 2024
Jun 13, 2024, 15:52 IST
The world of billionaires presents a captivating contrast. Many of the youngest billionaires have inherited their wealth from their families, whereas the older billionaires have often amassed their fortunes through their own efforts. Despite this, there are also young self-made billionaires who have successfully navigated the challenges of entrepreneurship and innovation. Their paths are marked by determination, resilience, and a keen ability to capitalise on opportunities.
Today's young billionaires are not merely building empires; they are shaping the future. They demonstrate that dreams can become reality when pursued with passion and perseverance. Let's explore Forbes' list of the top ten youngest billionaires in the world to see how these individuals amassed their impressive fortunes.
Country: Brazil
Company: WEG
Age: 19
Livia Voigt holds a significant stake in WEG, the largest electrical motor manufacturer in Latin America. Her grandfather, Werner Ricardo Voigt, co-founded the company alongside the late billionaires Eggon Joao da Silva and Geraldo Werninghaus. WEG is a multinational corporation traded publicly, operating factories across more than ten countries. Its 2022 revenue is estimated at approximately $6 billion. Despite being the largest individual shareholder, Livia continues her studies at university and does not hold any executive role within the company.
Country: Italy
Company: Delfin, EssilorLuxottica
Age: 20
Clemente is the second youngest billionaire in the world. He is one of the children of the late Leonardo Del Vecchio, who was the chairman of EssilorLuxottica until he passed away in 2022. After his father's death, Clemente inherited 12.5% of the Luxembourg-based holding company Delfin. Delfin owns shares in EssilorLuxottica, the insurance company Generali, banks like Mediobanca and UniCredit, and the real estate developer Convivio. Even though he has inherited this wealth, Clemente is very interested in science and technology and wants to go to college to build a career in these fields.
Country: South Korea
Company: Nexon, NXC
Age: 20
Kim Jung-youn and her older sister, Jung-min, together own about 18 per cent of NXC, the biggest shareholder of the online gaming company Nexon. They inherited a significant part of their ownership from their father, Kim Jung-ju, who started Nexon in 1994 but sadly passed away at 54 in February 2022. Neither Jung-youn nor her sister are directly involved in running Nexon on a daily basis, and they prefer to keep a low profile in public.
Country: Germany
Company: Drogerie Markt
Age: 21
Kevin David Lehmann owns 50 percent of Drogerie Markt, a company that makes about $14 billion a year. Drogerie Markt, also known as dm, started in 1973 when Goetz Werner opened the first store in Karlsruhe, Germany. Now, there are over 3,700 dm stores. In 1974, Kevin David Lehmann's father, Guenther, who ran the family's Pfannkuch grocery chain, invested in dm. In 2017, Guenther gave 50 percent of his ownership in dm to Kevin David.
Country: Italy
Company: Delfin, EssilorLuxottica
Age: 22
Luca Del Vecchio is one of the six children of the late Leonardo Del Vecchio. After his father passed away, Luca, like his brother Clemente, inherited a 12.5 per cent stake in the Luxembourg-based holding company Delfin. Delfin owns shares in EssilorLuxottica, the insurance company Generali, banks like Mediobanca and UniCredit, and the real estate developer Covivio. Unlike Clemente, Luca is the chief strategy officer and is actively involved in the company's operations.
Company: Nexon, NXC
Age: 22
Jung-youn’s sister, Jung-min, ranks fourth among the world's ten youngest billionaires. Together, the sisters own about 31 per cent of NXC, the largest shareholder in the well-known online gaming company Nexon. Both Jung-youn and Jung-min keep a low public profile.
Country: France
Company: Dassault
Age: 23
Remi's great-grandfather started Dassault Aviation, a French aerospace company that made propellers during World War I. Remi's father, Olivier Dassault, who sadly passed away in a helicopter accident in 2021, was a prominent politician in France's National Assembly. The Dassault family also owns vineyards, a private aerospace company, and a newspaper called Le Figaro.
Country: Ireland
Company: Shapoorji Pallonji Group
Age: 25
Zahan Mistry is the son of Cyrus Mistry, who used to be the boss at Tata Sons. When his dad died in a car crash in 2022, Zahan got 18.4 per cent of Tata Sons. He's pretty busy in the family's construction business and owns a big piece, about 25 per cent, of the Shapoorji Pallonji Group. The family's company, Shapoorji Pallonji Group, plans to put Afcons Infrastructure, another company they own, on the stock market to try and lower their debts. They're hoping to get a whopping $850 million for it.
Country: Brazil
Company: WEG
Age: 26
Dora Voigt d'Assis is Livia Voigt de Assis's older sister, who happens to be the youngest billionaire on this list. Dora is also a big shareholder in WEG, which is the biggest maker of electrical motors in Latin America. She finished studying architecture in 2020. Just like her sister, she doesn't have a big job at WEG.
Country: Ireland
Company: Shapoorji Pallonji Group
Age: 27
Firoz Mistry is Zahan Mistry's older brother. When their dad, Cyrus Mistry, passed away in 2022, Firoz also got a piece of their family's 18.4 per cent share in Tata Sons. He went to the University of Warwick for his studies. Firoz is really good at business and thinking ahead. He owns a big chunk, about 25 per cent, of the Shapoorji Pallonji Group.
SEE ALSO:
Top 10 richest women in the world
Top 10 richest people in the world
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Today's young billionaires are not merely building empires; they are shaping the future. They demonstrate that dreams can become reality when pursued with passion and perseverance. Let's explore Forbes' list of the top ten youngest billionaires in the world to see how these individuals amassed their impressive fortunes.
| Age | Name | Net Worth | Country |
| 19 | Livia Voigt | $1.1 B | Brazil |
| 20 | Clemente Del Vecchio | $4.6 B | Italy |
| 20 | Kim Jung-youn | $1.5 B | South Korea |
| 21 | Kevin David Lehmann | $3.1 B | Germany |
| 22 | Luca Del Vecchio | $4.6 B | Italy |
| 22 | Kim Jung-min | $1.5 B | South Korea |
| 23 | Remi Dassault | $2.4 B | France |
| 25 | Zahan Mistry | $4.7 B | Ireland |
| 26 | Dora Voigt de Assis | $1.1 B | Brazil |
| 27 | Firoz Mistry | $4.7 B | Ireland |
1. Livia Voigt
Country: Brazil
Company: WEG
Age: 19
Livia Voigt holds a significant stake in WEG, the largest electrical motor manufacturer in Latin America. Her grandfather, Werner Ricardo Voigt, co-founded the company alongside the late billionaires Eggon Joao da Silva and Geraldo Werninghaus. WEG is a multinational corporation traded publicly, operating factories across more than ten countries. Its 2022 revenue is estimated at approximately $6 billion. Despite being the largest individual shareholder, Livia continues her studies at university and does not hold any executive role within the company.
2. Clemente Del Vecchio
Country: Italy
Company: Delfin, EssilorLuxottica
Age: 20
Clemente is the second youngest billionaire in the world. He is one of the children of the late Leonardo Del Vecchio, who was the chairman of EssilorLuxottica until he passed away in 2022. After his father's death, Clemente inherited 12.5% of the Luxembourg-based holding company Delfin. Delfin owns shares in EssilorLuxottica, the insurance company Generali, banks like Mediobanca and UniCredit, and the real estate developer Convivio. Even though he has inherited this wealth, Clemente is very interested in science and technology and wants to go to college to build a career in these fields.
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3. Kim Jung-youn
Country: South Korea
Company: Nexon, NXC
Age: 20
Kim Jung-youn and her older sister, Jung-min, together own about 18 per cent of NXC, the biggest shareholder of the online gaming company Nexon. They inherited a significant part of their ownership from their father, Kim Jung-ju, who started Nexon in 1994 but sadly passed away at 54 in February 2022. Neither Jung-youn nor her sister are directly involved in running Nexon on a daily basis, and they prefer to keep a low profile in public.
4. Kevin David Lehmann
Country: Germany
Company: Drogerie Markt
Age: 21
Kevin David Lehmann owns 50 percent of Drogerie Markt, a company that makes about $14 billion a year. Drogerie Markt, also known as dm, started in 1973 when Goetz Werner opened the first store in Karlsruhe, Germany. Now, there are over 3,700 dm stores. In 1974, Kevin David Lehmann's father, Guenther, who ran the family's Pfannkuch grocery chain, invested in dm. In 2017, Guenther gave 50 percent of his ownership in dm to Kevin David.
5. Luca Del Vecchio
Country: Italy
Company: Delfin, EssilorLuxottica
Age: 22
Luca Del Vecchio is one of the six children of the late Leonardo Del Vecchio. After his father passed away, Luca, like his brother Clemente, inherited a 12.5 per cent stake in the Luxembourg-based holding company Delfin. Delfin owns shares in EssilorLuxottica, the insurance company Generali, banks like Mediobanca and UniCredit, and the real estate developer Covivio. Unlike Clemente, Luca is the chief strategy officer and is actively involved in the company's operations.
6. Kim Jung-min
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Country: South KoreaCompany: Nexon, NXC
Age: 22
Jung-youn’s sister, Jung-min, ranks fourth among the world's ten youngest billionaires. Together, the sisters own about 31 per cent of NXC, the largest shareholder in the well-known online gaming company Nexon. Both Jung-youn and Jung-min keep a low public profile.
7. Remi Dassault
Country: France
Company: Dassault
Age: 23
Remi's great-grandfather started Dassault Aviation, a French aerospace company that made propellers during World War I. Remi's father, Olivier Dassault, who sadly passed away in a helicopter accident in 2021, was a prominent politician in France's National Assembly. The Dassault family also owns vineyards, a private aerospace company, and a newspaper called Le Figaro.
8. Zahan Mistry
Country: Ireland
Company: Shapoorji Pallonji Group
Age: 25
Zahan Mistry is the son of Cyrus Mistry, who used to be the boss at Tata Sons. When his dad died in a car crash in 2022, Zahan got 18.4 per cent of Tata Sons. He's pretty busy in the family's construction business and owns a big piece, about 25 per cent, of the Shapoorji Pallonji Group. The family's company, Shapoorji Pallonji Group, plans to put Afcons Infrastructure, another company they own, on the stock market to try and lower their debts. They're hoping to get a whopping $850 million for it.
9. Dora Voigt de Assis
Country: Brazil
Company: WEG
Age: 26
Dora Voigt d'Assis is Livia Voigt de Assis's older sister, who happens to be the youngest billionaire on this list. Dora is also a big shareholder in WEG, which is the biggest maker of electrical motors in Latin America. She finished studying architecture in 2020. Just like her sister, she doesn't have a big job at WEG.
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10. Firoz Mistry
Country: Ireland
Company: Shapoorji Pallonji Group
Age: 27
Firoz Mistry is Zahan Mistry's older brother. When their dad, Cyrus Mistry, passed away in 2022, Firoz also got a piece of their family's 18.4 per cent share in Tata Sons. He went to the University of Warwick for his studies. Firoz is really good at business and thinking ahead. He owns a big chunk, about 25 per cent, of the Shapoorji Pallonji Group.
SEE ALSO:
Top 10 richest women in the world
Top 10 richest people in the world