Youngest Billionaires of 2024 Across the Globe

In an unprecedented development, for the first time in 15 years, there are no self-made billionaires under the age of 30. Achieving billionaire status, particularly at a young age, is a remarkable feat, with the average age of billionaires resting at 66, and the oldest individual in the billionaire ranks being 102 years old. Nevertheless, a select group has managed to amass immense wealth at a remarkably young age.

This year, all 25 of the youngest individuals on Forbes' World's Billionaires list are aged 33 or younger, collectively boasting a staggering net worth of $110 billion. Among them are a handful of self-made entrepreneurs who have founded notable companies such as Snap (Evan Spiegel, 33), Gymshark (Ben Francis, 31), and Oculus VR (Palmer Luckey, 31).

However, the majority of these young billionaires owe their fortunes to inheritance. For the first time since 2009, every billionaire under the age of 30 has inherited their wealth, signaling the onset of the "great wealth transfer." This shift reflects a combination of self-made entrepreneurs aging into their 30s and the passing down of fortunes from previous generations.

The title of the world's youngest billionaire belongs to Brazil's Livia Voigt, aged just 19 and still in college. With an estimated net worth of $1.1 billion, she owes her wealth to a minority stake in the electrical equipment producer WEG, co-founded by her late grandfather. Alongside her older sister, Dora Voigt de Assis, 26, they represent two of the seven newcomers among the 25 youngest billionaires and are part of a group of 18 heirs within this cohort.

Among the wealthiest of these heirs are Ireland's Mistry brothers, aged 25 and 27, each worth an estimated $4.9 billion due to their minority stakes in the Mumbai-based conglomerate Tata Sons. They inherited these stakes following the passing of their father, Cyrus Mistry, in 2022.

The trend of young billionaires inheriting their wealth has been particularly notable in recent years following the deaths of family patriarchs. Italy's Clemente Del Vecchio, 19, inherited a substantial stake in EssilorLuxottica after the passing of his father, Leonardo Del Vecchio, in 2022. Similarly, Germany's Sophie Luise Fielmann, 29, inherited her father's eyeglasses fortune upon his passing in January.

These inheritances mark the beginning of a long-anticipated generational wealth transfer as aging populations around the world pass down their fortunes. In the United States alone, trillions of dollars are expected to change hands annually as affluent elderly individuals leave their wealth to descendants.

Another contributing factor to the prevalence of young billionaire heirs is the maturation of previously self-made moguls like Snap's Bobby Murphy and Meta's Mark Zuckerberg. As they have aged, there are fewer self-made individuals entering the billionaire ranks.

However, there are exceptions. Japan's Shunsaku Sagami, aged 33, has emerged as a self-made billionaire due to the success of his company, M&A Research Institute Holdings, which utilizes AI for matching clients in mergers and acquisitions deals.

Yet, the ability to amass wealth at a young age does not guarantee its longevity. Ryan Breslow, the youngest self-made billionaire last year at 28, serves as a reminder of this volatility.

Despite this, the majority of the youngest billionaires have seen their fortunes increase compared to the previous year. Notably, Red Bull heir Mark Mateschitz and Michal Strnad, who inherited and now runs the defense producer Czechoslovak Group, have seen significant gains.

Of the youngest billionaires, 60% hail from Europe, with the remainder coming from Brazil, South Korea, Hong Kong (all heirs), or Japan and the United States (all self-made). This distribution reflects the global nature of wealth accumulation among the young elite.