The term youngest billionaire itself is extremely interesting and we have to admit that looking at the huge list it becomes extremely difficult to choose who to keep on it and who to reject. However, I’ve managed to shortlist them and come up with the best ones! So, without any further ado, let’s check out what the entire list is going to tell you!
Table of Contents
Kevin David Lehmann
- Devin is 19 years old with $2.4 billion in total assets.
- His pharmaceutical company is a source of his capital.
- Country: Germany
After acquiring interests in German pharmacy giant dm-drogerie market from his parents, Devin Lehmann, 19, is valued at $2.4 billion. This is the case per Forbes’ 35th annual billionaires’ list, announced on April 6.
The biggest drugstore chain in Germany, Dm-Drogerie Markt, is the basis of Lehmann’s riches. It was established in 1974. As per the firm’s site, it engages over 41,000 individuals in over 2,000 locations across Germany.
Neither Lehmann nor his dad is regular member of the corporation, as per Forbes, and very little is published about them. Kevin received this fortune from his dad when he was given a 50% ownership interest in a German department store chain by his father. The drugstore’s total profits are estimated to be around $12 billion.
Gunther Lehmann purchased 50% of the stock in the pharmacy business in 1974. Gotz Werner, the founder of the company, had just opened his second store, but he didn’t have the funds to grow. As a banker, Lehmann, who was a member of the Karlsruhe grocery store chain Pfannkuch at that stage, became engaged. Christoph Werner, unlike Lehmann’s child, is deeply engaged in the firm’s management. The 44-year-old is a component of the Drogerie Markt management group as well as the other Drogerie Markt successors.
Gustav Magnar Witzoe
- Gustav is 28 years old with $4.5 billion in total assets.
- Fish farming is a source of his capital.
- Country: Norway
Salmar ASA, including some of the world’s great salmon exporters, is approximately half-owned by Gustav Magnar Witzoe. Gustav Witzoe, who launched the business in 1991, gave an interest in the company in 2013. Salmar has been at the forefront of Norway’s commercialization of fish production, polishing the output into further refined cuts with high profitability.
The corporation is still controlled by the elder Witzoe, but Gustav Magnar is seeking to make his personal name by buying real estate and technology firms. Salmar, one of the world’s largest manufacturers of natural salmon, is owned 53.4 percent by the Witzoe family’s financial arm, Kverva. Scottish Sea Farms and Arnarlax Hf are two aquaculture fields it controls in Scotland and Iceland, respectively.
To avoid a big inheritance tax, his father donated him a 47 percent ownership in Salmar when he was 19 years old. The senior Witzoe is still in charge of the day-to-day activities of the Norwegian fish farm enterprise, which operates in both the center and northernmost sections of the country.
Gustav Billionaire
As a result of their accumulated wealth, Gustav became the world’s youngest male billionaire, and he was joined by two Norwegian sisters, Alexandra and Katharina Andresen, as the world’s three youngest billionaires.
Witzoe, who worked extensively for MGM Property, has established a reputation as an individual shareholder in the data communication technology industry, where he engages in both companies and property investment. The successor to the Norwegian salmon dynasty has a sizable investment strategy, having backed firms such as Gobi, a Snapchat opponent created by students, and Keybutler, an application that assists Airbnb guests.
Witzoe is undecided about taking the helm of the salmon farming behemoth. He once expressed sadness that he was declared heir evident at such an early age by his family. The youthful billionaire is also a good model that has enabled him to land work in his homeland. He is frequently spotted in the front seats of fashion events.
Alexandr Wang
- Wang is 25 years old with $1.3 billion in total assets.
- His software development company is the source of his capital.
- Country: Norway
Alexandr Wang left MIT (Massachusetts Institute of Technology) at the age of nineteen to co-found Scale AI, a software development company. He is now assisting more than 300 organizations, as well as the United States Air Force and Army, in maximizing the potential of their information by creating high-quality training examples for Ai technologies.
Wang, a 25-year-old smart whiz kid, was a mathematical genius who participated in national arithmetic and programming tournaments. According to Forbes, he entered his first nationwide math contest in sixth grade with the goal of winning a free vacation to Disney World. Although he did not win the tournament, he nevertheless earned his ticket to the magical country.
Wang’s Family
Wang’s family were physicists who specialized in military equipment programs, and he is currently continuing in their footsteps. Moreover, Wang’s Scale AI is a 6-year-old business that has already signed three major contracts worth up to $110 million with the US Air Force and Military to assist them with using artificial intelligence.
At the age of 17, he began working nonstop as a programmer at Quora, a question-and-answer website, when he encountered Lucy Guo, Scale’s cofounder. He proceeded to MIT to pursue machine learning and founded Scale alongside Guo with Y Combinator funding the summer following his first year.
To evaluate how much devastation Russian bombs are inflicting in Ukraine, it analyses satellite photographs far faster and more accurately than human experts. Over 300 organizations, namely General Motors and Flexport, use this system. Scale, which earns approximately $100 million in sales has an assessment of $7.3 billion in a $325 million financing round last year. Wang owns a 15% shareholding in the firm, worth $1 billion, giving him the title of the world’s youngest self-made billionaire.
Stanley Tang
- Tang is 29 years old with $1.2 billion in total assets.
- His restaurant delivery app, DoorDash, is the source of his capital.
- Country: United States
Stanley Tang is a dedicated businessman who has been building companies since he was a child. DoorDash, his most recent effort, is a tech business that delivers restaurant food. He launched DoorDash with three fellow Stanford undergraduates since they desired meal distribution in places where it wasn’t originally provided. Their goal is to enable small business owners to provide delivery services that are both convenient and available.
DoorDash is currently in use by eateries in over 30 communities in the San Francisco Bay Area. DoorDash not only improves the customer support experience for consumers. It also generates increased income for businesses and puts money in the hands of its transporters.
Stanley Tang is the co-founder and director of laboratories at DoorDash, a delivery service headquartered in San Francisco. DoorDash came public on the New York Stock Exchange in early December 2020, and Tang controls around 4% of the company.
Gary Wang
- Gary is 28 years old with $5.9 billion in total assets.
- The cryptocurrency exchange FTX is the source of his capital.
- Country: United States
Gary Wang is the co-founder and chief technology officer of FTX, a cryptocurrency exchange. Wang, an MIT graduate took employment at Google. There he built algorithms to aggregate pricing across millions of aircraft, before forming FTX with another billionaire, Sam Bankman-Fried, in 2019.
FTX is a major platform for trading crypto contracts, developed “by traders, for traders.” Wang owns around 16 percent of the platform, which acquired $400 million in January 2022 at a $32 billion capitalization, and roughly 18 percent of its $8 billion U.S. business.
Final Thoughts
According to Forbes, his fellow co-founder, and FTX CEO, Sam Bankman-Fried, who turned 30 in March, was the wealthiest 20-something last year. All of which had an approximate net worth of US $8.7 billion.
Ryan Breslow, a 27-year-old Stanford dropout who built the lightning-fast transaction software industry leader Bolt before stepping down as CEO early this year, will join Wang. Breslow is worth approximately $2 billion.
Pedro Franceschi and Henrique Dubugras, both Stanford graduates, are the other new inductees. The 25-year-old and 26-year-old Brazilian entrepreneurs are now worth approximately US $1.5 billion each. This year’s category contains seven self-made billionaires under the age of 30, much surpassing the five successors to existing riches. Stanley Tang and Andy Fang, both 29 years old, co-founded the food ordering software DoorDash with Tony Xu in 2013. (Now 37). So, now that you know so much about the youngest billionaire, do let me know in the comment section below how you liked my article!