The world of billionaires showcases a fascinating dichotomy, with most of the youngest billionaires in the world inheriting wealth from their families. In contrast, most of the older crowd has built their fortunes from scratch. However, some self-made young billionaires have also had to navigate the complexities of entrepreneurship and innovation. Their journeys are characterised by determination, resilience, and the ability to seize opportunities.
Regardless of how they came by their wealth, today’s young billionaires are not just building empires; they are shaping the future. They remind us that dreams can come true when pursued with passion and perseverance.
Let’s look at the list of the top ten youngest billionaires in the world and see how these people amassed their great wealth.
Top Ten Youngest Billionaires In The World
The Forbes real-time billionaires list ranks the top ten youngest billionaires in the world on November 8, 2023 like so:
What do we know about the youngest billionaires in the world? Here’s a closer look:
Clemente Del Vecchio
Source of wealth: Eyeglasses
Residence: Milan, Italy
Citizenship: Italy
Clemente tops the list of the top ten youngest billionaires in the world. He is one of the offspring of the late Leonardo Del Vecchio, who served as the chairman of EssilorLuxottica until his passing in 2022.
Following his father's demise, he acquired 12.5 percent ownership in the Luxembourg-based holding company Delfin. Delfin's portfolio includes EssilorLuxottica holdings, shares in insurer Generali, banks like Mediobanca and UniCredit, and real estate developer Convivio. After inheriting his father’s wealth, Clemente became the world's youngest billionaire at 18.
Kim Jung-Youn
Source of wealth: Online gaming
Residence: South Korea
Citizenship: South Korea
Kim Jung-youn and her older sister, Jung-min, collectively hold approximately 31 percent of NXC, which stands as the largest shareholder in the online gaming company Nexon.
A substantial portion of their stakes has been passed down through their late father, Kim Jung-ju. Kim Jung-ju founded Nexon in 1994 and passed away at the age of 54 in February 2022. Not Jung-youn nor her sister has been actively engaged in Nexon's day-to-day operations, and they maintain a low public profile.
Kevin David Lehmann
Source of wealth: Drugstores
Residence: Karlsruhe, Germany
Citizenship: Germany
Kevin David Lehmann possesses a 50 percent ownership stake in Germany's drugstore chain, dm (drogerie markt), with an annual revenue exceeding $14 billion.
The company's origins can be traced back to 1973 when Goetz Werner established its first store in Karlsruhe, Germany. Today, dm has expanded to encompass over 3,700 locations.
In 1974, Kevin David Lehmann's father, Guenther, who was managing the family's Pfannkuch grocery chain, invested in dm. Guenther transferred his 50 percent ownership in dm to Kevin David in 2017. Neither Kevin David nor his father has actively participated in dm's operational activities, and they maintain a private public profile.
Kim Jung-Min
Source of wealth: Online gaming
Residence: South Korea
Citizenship: South Korea
Jung-youn’s sister, Jung-min, comes in fourth in the list of the top ten youngest billionaires in the world. Collectively, both sisters hold approximately 31 percent of NXC, making it the largest shareholder in the renowned online gaming giant Nexon. Both sisters maintain a private profile.
Luca Del Vecchio
Source of wealth: Eyeglasses
Residence: Milan, Italy
Citizenship: Italy
Luca Del Vecchio is among the six offspring of the late Leonardo Del Vecchio. Following his father's demise, Luca, like his brother, Clemente, inherited a 12.5 percent stake in the Luxembourg-based holding company Delfin.
Delfin's extensive portfolio encompasses EssilorLuxottica holdings, shares in insurer Generali, banks such as Mediobanca and UniCredit, and the real estate developer Covivio.
Alexandra Andresen
Source of wealth: Investments
Residence: Oslo, Norway
Citizenship: Norway
Alexandra Andresen and her elder sister, Katharina, both inherited a 42 percent ownership stake in the family-owned investment firm Ferd. Their father, Johan Andresen, remains at the company's helm and controls 70 percent of the voting rights through a dual-class share structure.
Ferd is involved in various financial endeavours, including running hedge funds, actively participating in the Nordic stock exchange as an investor, and engaging in private equity investments.
Leonardo Maria Del Vecchio
Source of wealth: Eyeglasses
Residence: Milan, Italy
Citizenship: Italy
The third member of the Vecchio family to make it to the list of the top ten youngest billionaires in the world, Leonardo Maria is one of only two of his father's heirs who actively engage in the company's affairs, serving as EssilorLuxottica's chief strategy officer. He also holds the CEO role at eyeglasses retailer Salmoiraghi & Viganò, an entity acquired by EssilorLuxottica in 2016 for an undisclosed sum.
Leonardo Maria inherited a 12.5 percent ownership stake in the Luxembourg-based holding company like his siblings. Additionally, Delfin possesses shares in insurance company Generali, banks such as Mediobanca and UniCredit, and real estate developer Covivio.
Katharina Andresen
Source of wealth: Investments
Residence: Oslo, Norway
Citizenship: Norway
Born in 1995, Katharina Andresen is the daughter of Johan H. Andresen Jr., the owner of Ferd AS, who, in 2007, transferred 42.2 percent ownership stakes to Katharina and her sister, Alexandra.
Katharina comes from a prominent family of politicians and industrialists. Her great-grandfather Johan H. Andresen was a politician in the Conservative Party. She is also the great-great-granddaughter of Nicolai Andresen, who laid the foundation of what now is called the Nordea Bank Norge.
Ryan Breslow
Source of wealth: E-commerce software, self-made
Residence: Miami, Florida
Citizenship: United States
Ryan Breslow boldly decided to leave Stanford in 2014 to embark on the journey of launching the payment startup Bolt. By January 2022, he decided to transition from his role as CEO to the position of chairman.
Breslow secured an impressive $1.3 billion in funding for Bolt, a notable achievement being the $355 million investment in January 2022. Forbes' estimates suggest the company's current valuation hovers around $5 billion.
Breslow is known for his preference for solitude and self-care practices like yoga, meditation, and dancing. He also implemented a four-day workweek for his 700 employees, emphasising work-life balance. In addition to his involvement with Bolt, Breslow ventured into the wellness sector by establishing Love, an early-stage startup launched in January 2022.
Gustav Magnar Witzoe
Source of wealth: Fish farming
Residence: Kverva, Norway
Citizenship: Norway
Gustav Magnar Witzoe owns nearly 50 percent of Salmar ASA, one of the world's major salmon producers. This stake was bestowed upon him in 2013 as a gift from his father, Gustav Witzoe, who founded the company in 1991.
Salmar has played a pioneering role in advancing the industrialisation of fish farming in Norway. While the elder Witzoe continues to manage the company, Gustav Magnar is exploring opportunities to establish his presence in real estate and investments in technology startups.
