Young Money: The 10 Youngest Billionaires In The World, As Of 2022
The world saw its first billionaire in 1987 when a 31-year-old Bill Gates, the co-founder of Microsoft, saw his net worth escalate to a billion dollars and soon became the richest man on Earth. Like Gates, self-made billionaires grabbed the opportunity of the budding markets to establish businesses that have earned them fortunes that can last a lifetime. Today's youngest billionaires remain in their mid to late-20s and have already reached heights in their careers.
From Stanford dropouts who started a business to cryptocurrency experts and food delivery magnates, the list contains a diverse background of youngsters who have a lot more to give to the world. Let’s take a look at the youngest billionaires in the world as of 2022.
10 Andy Fang ($1.1 billion)
At 30 years of age, Andy Fang has amassed a $1.1 billion fortune ever since he co-founded the intelligent start-up Doordash, as noted by Forbes. The application has a network that spans 850 cities in America and has become the largest food delivery solution in the country. Fang owns 4% shares of the company, which was listed on the New York Stock Exchange. Along with being the co-founder, the Stanford graduate serves as a Chief Technology Officer for Doordash.
9 Stanley Tang ($1.2 billion)
Stanley Tang worked at Facebook as a software engineer until he quit his job and co-founded Doordash with Andy Fang in 2013. He is the company's Chief Product Officer and focuses on technological advances that the company can include in its service, along with self-driving cars and robotics.
8 Katharina Andresen ($1.3 billion)
Johan H. Andresen Jr. founded Ferd, one of the largest privately-owned companies in Norway, and remained the CEO until 2012. In 2016, he gave 42% of his stake in the company to Katharina Andresen, who then became the youngest billionaire ever. Ferd is listed on the Nordic Stock Exchange and deals with private equity holdings and real estate.
7 Alexandra Andresen ($1.3 billion)
A younger sister to Katharina Andresen, Alexandra shares the 42% stake of the firm with her sister that was passed on from their father. Jonah Andresen still has 70% voter rights in the company and serves as the Chairman. As mentioned by the Independent, she became a billionaire at just 19 years of age and continues to work in the family business.
6 Henrique Dubugras ($1.5 billion)
Henrique Dubugras founded his first fintech start-up before going to college in 2013 called 'Pagar.me', which helped Brazilian merchants receive payments online. After selling the start-up in 2016, he went to Stanford before he dropped out to launch his fintech Brex, which offers cash and credit management solutions. The company is valued at $12.3 billion, with Dubugras owning a percentage that equals $1.5 billion.
5 Pedro Franceschi ($1.5 billion)
Pedro Franceschi is the co-founder of Brex and another Stanford drop-out who has amassed a $1.5 billion fortune. In 2018, the company raised $125 million during a Series C round of investments which climbed the valuation to $1.1 billion. The valuation has increased more than tenfold within four years and made the young entrepreneurs billionaires.
4 Austin Russell ($1.6 billion)
Austin Russell dropped out of Stanford University as a new tech mogul in Silicon Valley when he started looking for solutions to create automotive sensor technology. He received a $100,000 investment from PayPal co-founder Peter Thiel to begin his company Luminar Technologies, as stated by Luxury Launches. He invented a self-driving technology that has hiked his net worth to $1.6 billion.
3 Ryan Breslow ($2.0 billion)
Ryan Breslow is the co-founder of a start-up that helps online checkouts called Bolt Technologies Inc., currently valued at $11 billion. The company’s valuation increased after an investment round occurred in January 2022. Breslow owns a 25% stake in the company, making his valuation cross the $2 billion mark. The company has plans to raise the valuation to $14 billion.
2 Kevin David Lehmann ($2.5 billion)
Kevin David Lehmann’s father, Guenther, invested in drogerie markt (dm), a drugstore chain in Germany, while running his grocery chain business in 1974. Today, the valuation of the drugstore chain has hiked to $12 billion. Guenther, who had a 50% stake in the company, transferred it to his son Kevin who now has a net worth of $2.5 billion.
1 Gustav Magnar Witzøe ($4.5 billion)
One of the youngest billionaires in the world, Gustav Magnar Witzøe, is the son of Gustav Witzøe, the owner of the world’s largest salmon-producing firm, Salmar ASA. He was given his stake as a gift from his father in 2013, which increased his net worth to $4.5 billion. According to Vogue Scandinavia, the business magnate is also a fashion model who lives in Trondheim and manages to work in both sectors.
Other notable young billionaires include Wang Zelong, Jonathan Kwok, and Hu Kunhui. Through their inheritance and self-made start-ups, young billionaires have created their marks in the world of business with their work. With more investors believing in them and wanting to collaborate, their valuations are expected to increase.
Sources: Forbes, Independent, Luxury Launches, Vogue Scandinavia
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