Local Property News | Posted by Aye Myat Thu
Forbes has released its much-anticipated list of the youngest billionaires in the world, all of whom have accumulated their wealth before reaching the age of 33.
When put together, the list of 25 is worth over a staggering $110billion.
A few of this year's title holders are self-made after building up businesses such as Snapchat and Gymshark, but many are the product of inherited fortunes and generational wealth.
This year, the Forbes richest young billionaire is Mark Mateschitz, who netted his eye-watering fortune of $39.6billion by inheriting almost half of Red Bull.
Nearly all of the 25 who claimed a spot are richer than last year and a 60 per cent chunk - tallying up to 15 - of the youngest billionaires are from Europe.
The remaining 10 are from around the globe, including billionaire heirs from Brazil, South Korea and Hong Kong, and self-made billionaires from Japan and the United States.
1. Mark Mateschitz, 31, $39.6billion (Red Bull)
The Austrian entrepreneur is a billionaire heir who owns 49 per cent of Red Bull.
The energy drink was co-founded by his father, Dietrich Mateschitz, in 1987, before being handed the whopping chunk of the business in 2022, when his father died.
(Mark Mateschitz, son of Dietrich Mateschitz, and the CEO of RedBull)
Dietrich cofounded Red Bull with Thai businessman Chaleo Yoovidhya - Yoovidhya's son Chalerm is also a billionaire today. Since its launch, more than 100 billion cans of Red Bull have been sold worldwide, including over 12 billion in 2023, while generating $11.6billion in revenue last year.
2. John Collison, 33, $7.2billion (Stripe)
The self-made billionaire John Collison and his younger brother Patrick, 35, sold their first start-up for $5million in 2007, while he was in secondary school.
(The self-made billionaire John Collison)
The Harvard-educated pilot and pianist co-founded Stripe, a payment software that was backed by Elon Musk, Peter Thiel, Max Levchin, and Sequoia Capital.
3. Firoz Mistry, 27, $4.9billion (Tata Sons)
Alongside his brother, Firoz and Zahan Mistry are the richest of the 30-and-unders thanks to their mind-blowing net worth of $4.9billion.
Mistry has a 4.6 per cent stake in Tata Sons - an Indian conglomerate that owns 29 public companies including Tata Consultancy and Tata Motors.
The parent company of the Tata Groups generated a massive $150billion in revenue last year.
4. Zahan Mistry, 25, $4.9billion (Tata Sons)
5. Luca Del Vecchio, 22, $4.7billion (Delfin)
6. Leonardo Maria Del Vecchio, 28, $4.7billon (Delfin)
7. Clemente Del Vecchio, 19, $4.7billion (Delfin)
8. Michal Strnad, 31, $4.4billion (CSG)
9. Gustav Magnar Witzøe, 30, $4.2billion (SalMar ASA)
10. Kevin David Lehmann, 21, $3.3billion (dm-drogerie markt)
