Every year, Forbes releases multiple lists of individuals who are the biggest achievers in terms of money. One of the most-awaited lists among all is- Forbes’s list of youngest billionaires. The names in this list vary for so many reasons. Most young billionaires inherit wealth, while older ones build it from scratch. Despite being young, some self-made billionaires excel at navigating complex business and innovation. They are determined, bounce back easily, and seize opportunities in their paths.
Regardless of how they become rich, young billionaires today aren’t just building empires. They are also shaping the future. These serve as a reminder that dreams can come true with hard work and determination. Let’s look at the top ten youngest billionaires worldwide and how they became so rich.
Forbes 2023 list of 10 youngest billionaires in the world
As of November 21, 2023, the real-time billionaires list by Forbes defines the ranking of the world’s top ten youngest billionaires.
1. Clemente Del Vecchio
Clemente Del Vecchio, hailing from Milan, Italy, secures the top spot among the world’s youngest billionaires. His wealth source lies in the eyeglass industry. As the descendant of the late Leonardo Del Vecchio, former chairman of EssilorLuxottica, Clemente inherited a 12.5 percent stake in the Luxembourg-based holding company Delfin following his father’s passing in 2022.
Delfin’s diverse portfolio encompasses EssilorLuxottica holdings, shares in Generali insurance, and stakes in prominent banks like Mediobanca and UniCredit, along with involvement in real estate through Convivio. Clemente ascended to the status of the world’s youngest billionaire at the age of 18.
2. Kim Jung-youn
Kim Jung-youn, hailing from South Korea, has amassed her wealth through online gaming. Residing in South Korea and holding South Korean citizenship, Kim and her sister, Jung-min, jointly possess around 31 percent of NXC, the predominant shareholder in the online gaming giant Nexon.
This substantial stake has been inherited from their late father, Kim Jung-ju, who founded Nexon in 1994. Despite their significant holdings, neither Jung-youn nor her sister actively participate in Nexon’s daily operations, maintaining a relatively low public profile.
3. Kevin David Lehmann
Kevin David Lehmann, a German citizen residing in Karlsruhe, amasses his wealth as he holds a 50 percent ownership stake in Germany’s drugstore giant, dm (drogerie markt), boasting an annual revenue exceeding $14 billion. Established in 1973 by Goetz Werner, dm has evolved into a chain with over 3,700 locations.
In 1974, Kevin’s father, Guenther, previously overseeing the family’s Pfannkuch grocery chain, invested in dm. The transfer of Guenther’s 50 percent ownership to Kevin occurred in 2017. Despite their significant stake, neither Kevin David nor his father actively engages in dm’s day-to-day operations, maintaining a discreet public profile.
4. Kim Jung-min
Kim Jung-min, residing in South Korea, holds a prominent position as the fourth youngest billionaire globally, specializing in online gaming. As the sister of Jung-youn, both siblings jointly possess around 31 percent of NXC, establishing them as the primary shareholders in the acclaimed online gaming powerhouse Nexon. Despite their significant role in the industry, the sisters maintain a low-key and private profile.
5. Luca Del Vecchio
Luca Del Vecchio, hailing from Milan, Italy, and an Italian citizen, belongs to the lineage of the late Leonardo Del Vecchio. After his father’s passing, Luca, akin to his brother Clemente, received a 12.5 percent share in the Luxembourg-based holding company Delfin. Delfin’s portfolio spans EssilorLuxottica holdings, shares in insurer Generali, banks like Mediobanca and UniCredit, and the real estate developer Covivio.
6. Alexandra Andresen
Alexandra Andresen, hailing from Oslo, Norway, derives her wealth from investments. Alongside her elder sister, Katharina, she inherited a substantial 42 percent ownership in the family-centric investment firm, Ferd. Overseen by their father, Johan Andresen, who holds 70 percent of voting rights via a dual-class share structure, Ferd engages in diverse financial pursuits. These include managing hedge funds, active involvement in the Nordic stock exchange as an investor, and participation in private equity investments.
7. Leonardo Maria Del Vecchio
Leonardo Maria Del Vecchio, hailing from Milan, Italy, and holding Italian citizenship, is the third scion of the Vecchio family to secure a spot among the top ten youngest billionaires globally. Actively involved in corporate affairs, he serves as the Chief Strategy Officer at EssilorLuxottica.
Inheriting a 12.5 percent ownership stake in the Luxembourg-based holding company, much like his siblings. Additionally, he assumes the role of CEO at Salmoiraghi & Viganò, an eyeglasses retailer acquired by EssilorLuxottica in 2016. Delfin, the family holding company, boasts shares in Generali, Mediobanca, UniCredit, and real estate developer Covivio.
8. Katharina Andresen
Katharina Andresen, born in 1995 and a Norwegian citizen residing in Oslo, derives her wealth from investments. She is the daughter of Johan H. Andresen Jr., owner of Ferd AS, who, in 2007, transferred 42.2 percent ownership to Katharina and her sister, Alexandra.
Hailing from a notable family of politicians and industrialists, Katharina is the great-granddaughter of Johan H. Andresen, a Conservative Party politician, and the great-great-granddaughter of Nicolai Andresen, the founder of what is now Nordea Bank Norge.
9. Ryan Breslow
Ryan Breslow, a self-made entrepreneur in the realm of e-commerce software, hails from Miami, Florida. Departing from Stanford in 2014, he embarked on the venture of founding the payment startup Bolt. Transitioning from CEO to chairman in January 2022, Breslow achieved a significant milestone with Bolt securing an impressive $1.3 billion in funding, including a notable $355 million investment in the same month.
Forbes estimates the company’s current valuation to be around $5 billion. Recognized for his commitment to work-life balance, Breslow, known for solitude and self-care practices, implemented a four-day workweek for his 700 employees. Expanding his ventures, he entered the wellness sector with Love, an early-stage startup initiated in January 2022.
10. Gustav Magnar Witzoe
Gustav Magnar Witzoe, hailing from Kverva, Norway, is a major player in the world of fish farming. Holding almost half of Salmar ASA, a prominent salmon producer globally, Witzoe received this significant stake as a gift from his father, Gustav Witzoe, the founder of the company in 1991.
Salmar has been a trailblazer in advancing the industrialization of fish farming in Norway. While Gustav’s father oversees the company, Gustav Magnar is actively exploring ventures in real estate and investments in technology startups.
Conclusion: Shaping the Future
These young billionaires not only inherit wealth but actively participate in shaping industries, from gaming to eyeglasses and beyond. Their stories serve as inspirations, illustrating that fortune favors those who combine passion with perseverance, leaving an indelible mark on the ever-evolving landscape of global wealth.
Also Read: World’s Top 16 Cities With Highest Number Of Billionaires
