The Top 5 Wealthiest Young Billionaires In 2024

Forbes

It’s a rare feat to become a billionaire, especially at a young age. The average billionaire is 66, and the oldest person in the ranks is 102. Still, a select few have gotten super-rich super young.  For the first time since 2009, every billionaire under 30 inherited his or her fortune—the result of some self-made entrepreneurs aging into their 30s, and a sign that the “great wealth transfer” has begun.  These inheritances illustrate the beginning of a long-anticipated generational wealth transfer among aging populations around the world. In the United States, Baby Boomers and their elders (those born in 1964 or earlier) hold $95.9 trillion of a total $147.1 trillion of household wealth, per the Federal Reserve. Trillions are expected to change hands every year as the affluent elderly pass away and leave their fortunes to descendants.  Read the full story on Forbes: https://www.forbes.com/sites/monicahunter-hart/2024/03/31/worlds-youngest-billionaires-2024-john-collison-ben-francis-evan-spiegel/?sh=3a7d65a61352  Subscribe to FORBES: https://www.youtube.com/user/Forbes?s...   Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:   https://account.forbes.com/membership...   Stay Connected  Forbes newsletters: https://newsletters.editorial.forbes.com  Forbes on Facebook: http://fb.com/forbes  Forbes Video on Twitter: / forbes    Forbes Video on Instagram: / forbes    More From Forbes: http://forbes.com   Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

Transcript

00:00 The average billionaire on Forbes' billionaire list this year is 66 years old.

00:05 Still, a selective few have gotten super rich, super young.

00:09 This year, the 25 youngest people on Forbes' world's billionaires list are all 33 or

00:15 younger.

00:16 Together, they're worth $110 billion.

00:20 A few are self-made, having built notable companies like Snap, Gymshark, and Oculus

00:25 VR.

00:26 For the first time since 2009, every billionaire under 30 inherited his or her fortune.

00:32 These inheritances illustrate the beginning of a long-anticipated generational wealth

00:36 transfer among aging populations around the world.

00:40 In the United States, baby boomers and their elders hold $95.9 trillion of the total $147.1

00:50 trillion of household wealth, per the Federal Reserve.

00:54 Many of the archetypal self-made young moguls, such as Snaps Bobby Murphy and Menace Mark

00:59 Zuckerberg, have grown up, and they aren't being replaced.

01:04 Most of the youngest billionaires are from Europe.

01:06 The rest are from Brazil, South Korea, Hong Kong, Japan, and the United States.

01:12 Here are the five wealthiest young billionaires on this year's billionaires list.

01:17 At number five is Mikhail Shchernad.

01:20 Shchernad's father was a small-town scrapyard owner who started out renovating ex-Soviet

01:25 equipment at the end of the Cold War.

01:28 He transformed the business into the $3.2 billion defense producer Shekoslav Group,

01:34 which Mikhail has since taken over as owner and CEO.

01:37 Tied for fourth place on the list are the Delvecchio siblings.

01:41 Each of the Delvecchio brothers inherited a 12.5% stake in the family's Luxembourg-based

01:47 holding company Telfene, which owns nearly a third of Estelor Luxottica, an eyewear company.

01:53 Tied for third place is another set of siblings, the Mistry family.

01:56 Farah's Mistry and his brother Zahan are the richest of the 30 and unders, thanks primarily

02:02 to their 4.6% stake in Tata Sons, the $150 billion Indian conglomerate that owns 29 public

02:10 companies including Tata Consultancy and Tata Motors.

02:15 In second place is John Collison.

02:17 John and his brother Patrick sold the eBay management software, Automatic, for $5 million

02:23 in 2007.

02:25 After John enrolled and then dropped out of Harvard, they founded Stripe, a payment software

02:29 whose investors have included Fidelity in Ireland's Sovereign Development Fund.

02:34 In 2016, a funding round that valued the unicorn at $9.2 billion made John Collison the world's

02:41 then-youngest self-made billionaire at 26.

02:44 And coming in first is Mark Matuschitz.

02:47 Matuschitz inherited 49% of Red Bull when his father, Dietrich Matuschitz, who founded

02:52 the business in 1984, died in 2022.

02:56 Red Bull generated $11.6 billion in revenue last year and sold 12.1 billion cans, enough

03:02 for each person on Earth to pep up with one and a half energy drinks.

03:07 [MUSIC PLAYING]

03:09 you

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