Meet The World's 8 Youngest Billionaires Of 2024: From Ray-Ban Heirs To Red Bull Royalty

For the first time in 15 years, Forbes' World's Youngest Billionaires 2024 list has no self-made billionaires under the age of 30. This marks a significant shift as the "great wealth transfer" to the next generation begins, signalling the rise of the so-called "nepo baby" era.

Among the youngest billionaires is 19-year-old Livia Voigt, who is still in college. The Brazilian teenager has a net worth of approximately $1.1 billion, thanks to her minority stake in WEG, an electrical equipment company co-founded by her late grandfather, as reported by Forbes.

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Meet The World's 8 Youngest Billionaires Of 2024

Hong Kong's youngest billionaire, Jonathan Kwok, is 32 years old. He inherited stakes in Sun Hung Kai Properties and Empire Group Holdings after his father, Walter Kwok, passed away in 2018. Jonathan now runs Empire Group Holdings alongside his brother, Geoffrey.

Let's take a look at the top eight youngest billionaires in the world, according to Forbes, and see how they amassed their fortunes at such a young age.

8. Gustav Magnar Witzøe, 30 - $4.2 billion

Norwegian billionaire Gustav Magnar Witzøe received nearly half of his family's fish farming company, SalMar, from his father when he was just 19. SalMar is the world's second-largest salmon farmer, exporting to over 50 countries, as reported by Forbes. While his father still oversees the company, Gustav focuses on tech start-ups and property investments. He's also a red-carpet regular and a model, making appearances at events like the Met Gala.

7. Michal Strnad, 31 - $4.5 billion

Michal Strnad inherited the Czechoslovak Group (CSG) from his father in 2018. CSG is one of the EU's largest ammunition producers, specializing in weapons, army trucks, vehicles, and radars. It also owns Czech watchmaker PRIM. As CEO, Michal leads the company, continuing his family's legacy in the defence industry.

5-6. Clemente Del Vecchio, 19 and Luca Del Vecchio, 22 - $4.9 billion each

The Del Vecchio brothers, Clemente and Luca, inherited 12.5% stakes each in EssilorLuxottica, the eyewear giant behind Ray-Ban, after the death of their father, Leonardo Del Vecchio. Based in Milan, the brothers also hold shares in several major Italian companies, including Generali, Covivio, and UniCredit.

3-4. Firoz Mistry, 27 and Zahan Mistry, 25 - $5.1 billion each

Firoz and Zahan Mistry became billionaires almost overnight after inheriting stakes in the Tata conglomerate and the Shapoorji Pallonji Group following the untimely deaths of their father and grandfather in 2022. The young Irish businessmen now live in Mumbai, where both companies are headquartered.

2. John Collison, 33 - $7.2 billion

Irish entrepreneur John Collison co-founded Stripe, a payment processing company, with his brother Patrick in 2010. By 2016, John had become the world's youngest self-made billionaire. Today, Stripe continues to be a dominant force in the online payments industry, as reported by Forbes.

1. Mark Mateschitz, 31 - $39.6 billion

Mark Mateschitz, the son of Red Bull co-founder Dietrich Mateschitz, inherited 49% of the energy drink empire following his father's death in 2022. With Red Bull generating $11.6 billion in revenue and selling over 12 billion cans worldwide last year, Mark's net worth has soared to nearly $40 billion, making him the richest young billionaire on the list, as per media reports.

These young billionaires are a testament to the growing trend of inherited wealth and the continuing influence of family legacies in the world of extreme wealth.