Youngest billionaires in the world 2024

The world of billionaires presents an intriguing paradox, with the majority of the world's youngest billionaires acquiring riches from their families. In contrast, the majority of the elder generation has made their fortunes from scratch. However, some self-made young billionaires have faced the challenges of entrepreneurship and invention. Their journeys are marked by drive, perseverance, and the capacity to seize opportunities. 

Today's youthful billionaires, regardless of how they acquired their riches, are not only constructing empires, but also determining the future. They serve as a reminder that with passion and dedication, dreams can become a reality. 

Let's have a look at the top 10 youngest billionaires in the world and see how they become so wealthy. 
 

Top ten youngest billionaires in the world 

Clemente Del Vecchio 

• Source of wealth: Eyeglasses 
• Residence: Milan, Italy 
• Citizenship: Italy 

Clemente is first among the world's top 10 youngest billionaires. He is one of the children of the late Leonardo Del Vecchio, who was chairman of EssilorLuxottica until his death in 2022. 

Following his father's death, he obtained a 12.5% stake in the Luxembourg-based holding firm Delfin. Delfin's portfolio includes EssilorLuxottica holdings, Generali shares, Mediobanca and UniCredit banks, and real estate developer Convivio. After inheriting his father's money, Clemente became the world's youngest billionaire at the age of 18. 

Kim Jung-youn 

• Source of wealth: Online gaming 
• Residence: South Korea 
• Citizenship: South Korea 

Kim Jung-youn and her older sister, Jung-min, own around 31% of NXC, which is the largest stakeholder in the online game firm Nexon. 

A significant amount of their stakes were passed down by their late father, Kim Jung-ju. Kim Jung-ju started Nexon in 1994 and died at the age of 54 in February 2022. Jung-youn and her sister have not been actively involved in Nexon's day-to-day activities, and they maintain a low public profile. 
 

Kevin David Lehmann 

• Source of wealth: Drugstores 
• Residence: Karlsruhe, Germany 
• Citizenship: Germany 

Kevin David Lehmann owns 50 percent of Germany's drugstore chain, dm (drogerie markt), which generates more than $14 billion in revenue each year. 

The company's history may be traced back to 1973, when Goetz Werner opened its first store in Karlsruhe, Germany. Today, dm operates approximately 3,700 outlets. 

Guenther, Kevin David Lehmann's father, invested in dm in 1974 while operating the family's Pfannkuch supermarket chain. In 2017, Guenther ceded his 50% stake of dm to Kevin David. Kevin David and his father have not actively participated in dm's operational activities, and they maintain a discreet public presence. 
 

Kim Jung-min 

• Source of wealth: Online gaming 
• Residence: South Korea 
• Citizenship: South Korea 

Jung-youn's sister, Jung-min, is fourth among the world's ten youngest billionaires. Together, the sisters own around 31% of NXC, making them the largest shareholders in the famed online gaming firm Nexon. Both sisters keep a low profile. 
 

Luca Del Vecchio 

• Source of wealth: Eyeglasses 
• Residence: Milan, Italy 
• Citizenship: Italy 

Luca Del Vecchio is one of the six children of the late Leonardo Del Vecchio. Following his father's death, Luca and his brother Clemente received a 12.5% share in the Luxembourg-based holding firm Delfin. 

Delfin's large portfolio includes EssilorLuxottica assets, Generali shares, Mediobanca and UniCredit banks, and Covivio, a real estate developer. 
 

Alexandra Andresen 

• Source of wealth: Investments 
• Residence: Oslo, Norway 
• Citizenship: Norway 

Alexandra Andresen and her elder sister, Katharina, both got a 42% interest in the family-owned investment firm Ferd. Their father, Johan Andresen, continues to lead the company and holds 70% of the voting rights through a dual-class share structure. 

Ferd is involved in a variety of financial activities, including hedge fund management, active participation in the Nordic stock exchange as an investor, and private equity investments. 
 

Leonardo Maria Del Vecchio 

• Source of wealth: Eyeglasses 
• Residence: Milan, Italy 
• Citizenship: Italy 

Leonardo Maria, the third member of the Vecchio family to appear on the list of the world's top ten youngest billionaires, is one of only two of his father's heirs who actively participate in the company's activities, working as EssilorLuxottica's senior strategic officer. He is also the CEO of Salmoiraghi & Viganò, an eyewear store acquired by EssilorLuxottica in 2016 for an unknown fee. 

Leonardo Maria and his siblings inherited a 12.5% share in the Luxembourg-based holding corporation. Delfin also owns stock in insurance business Generali, banks Mediobanca and UniCredit, and real estate developer Covivio. 
 

Katharina Andresen 

• Source of wealth: Investments 
• Residence: Oslo, Norway 
• Citizenship: Norway  

Katharina Andresen was born in 1995. She is the daughter of Johan H. Andresen Jr., the owner of Ferd AS, who passed 42.2 percent ownership holdings to Katharina and her sister Alexandra in 2007. 

Katharina is from a famous political and industrial family. Her great grandfather, Johan H. Andresen, was a Conservative Party politician. She is also the great-great-granddaughter of Nicolai Andresen, who founded what is now known as Nordea Bank Norge. 
 

Ryan Breslow 

• Source of wealth: E-commerce software, self-made 
• Residence: Miami, Florida  
• Citizenship: United States 

Ryan Breslow made the daring decision to quit Stanford in 2014 to pursue his dream of establishing payment firm Bolt. By January 2022, he planned to shift from CEO to chairman. 

Breslow raised an outstanding $1.3 billion for Bolt, with a major $355 million investment in January 2022. Forbes believes that the company's current valuation is around $5 billion. 

Breslow is noted for his love for isolation and self-care activities such as yoga, meditation, and dancing. He also introduced a four-day workweek for his 700 staff to promote work-life balance. In addition to his participation with Bolt, Breslow entered the wellness sector by founding Love, an early-stage firm that launched in January 2022. 
 

Gustav Magnar Witzoe 

• Source of wealth: Fish farming 
• Residence: Kverva, Norway  
• Citizenship: Norway 

Gustav Magnar Witzoe owns approximately 50% of Salmar ASA, one of the world's largest salmon producers. This interest was given to him in 2013 by his father, Gustav Witzoe, who launched the company in 1991. 

Salmar has been a pioneer in increasing the industrialization of fish farming in Norway. While the elder Witzoe continues to run the business, Gustav Magnar is looking into ways to expand his presence in real estate and invest in technological firms.