Youngest Billionaires

Forbes Ranks The Youngest Billionaires Of 2023, & Only 1% Of Them Under 40!

Business 23 November 2023 5 Mins Read

A billionaire does not have to be more than $100 billion to become a billionaire. We are not talking about Elon Musk here. But the average age for someone to become a billionaire is 65. But some people beat that number and become the world’s youngest billionaires.

This article concerns these entrepreneurial rookies who made it to the billion-dollar club in their thirties.

Here is a list of 10 youngest billionaires in the world in 2023 

Curious to know who they are and what they do? Keep reading…

1. Ben Francis

Ben Francis

Age: 30

Net Worth: $1.2 billion 

Where The Money Comes From: Gymshark

The youngest billionaires always started early. Ben Francis is one of the examples who started their idea in their twenties, making them a billionaire by turning 30. Francis struggled to balance his college classes and his job as a pizza delivery boy. He developed his activewear business, Gymshark, at the age of 19.

He started sewing his dream at his parents’ garage in Birmingham, U.K., in 2012. Thereafter, Ben had to drop into the activewear market. So, Francis used the weightlifters and the bodybuilders for the brand marketing of Gymshark. 

What was the result? Well, his brand earned a revenue of $500 in 2021. More so, he also sold 21% of his company’s equity to General Atlantic, a private equity firm, in 2020 for $300. But, to date, Francis still owns 70% of the company’s equity. The brand grows strong daily, with a new brick-and-mortar store in London in 2020. 

2. Palmer Luckey

Palmer Luckey

Age: 30

Net Worth: $1.7 Billion

Where The Money Comes From: VR, Defense Contracting 

Palmer Luckey founded VR headset-making brand Oculus and sold the brand to Facebook for $2 billion back in 2014, becoming one of the youngest billionaires in the world. After that, he went on to build weapons. 

Furthermore, the next defense tech startup by Palmer is Anduril, with systems in Ukraine. They are currently working to build drone and surveillance protocols for the DOD. Palmer’s Anduril raised $1.5 billion in a valuation of $8.5 in December. 

3. Mark Mateschitz

Mark Mateschitz

Age: 30

Net Worth: $34.7 Billion 

Where The Money Comes From: Red Bull

The Red Bull founder Dietrich Mateschitz died back in October of 2020, making his son Mark Mateschitz the next heir in line. Mark inherited a massive 49% of the shares of Red Bull from his father, becoming one of the youngest billionaires in his thirties. Additionally, he operated as the head of organics. But after inheriting the shares, he stepped down to oversee the shares and act on his role as a shareholder.

4. Michal Strnad

Michal Strnad

Age: 30

Net Worth:  $2 Billion

Where The Money Comes From: Weapons

As one of the biggest ammunition suppliers and suppliers of artillery equipment and ground equipment, the Czechoslovak Group by Michal Starnad makes him one of the youngest billionaires in 2023. He builds weapons for the Ukrainian army, and his company’s sales doubled in 2020, taking it to $620 million. Michal’s father founded the business, and he started taking control in 2018.

5. Gustav Magnar Witzoe

Gustav Magnar Witzoe

Age: 29

Net Worth:  $2.7 Billion

Where The Money Comes From: Fish farming

Gustave Magnar Witzoe is the current owner of the famous company SalMar ASA, known for farming salmon. He inherited the company from his father, Gustav Witzoe. Although he is one of the youngest billionaires in the world, currently, he does not have any active role in the company. Instead, Witzoe is creating his own way in the world of business by investing in tech startups and real estate businesses. 

6. Brian Chesky

Brian Chesky

Age: 42

Net Worth: $10 billion 

Where The Money Comes From: Airbnb

An entrepreneur faces a problem and curves out a solution that would help the entire world. Brain Chesky started Airbnb just like that. A broke guy from San Francisco, Chesky and Gabbia once bought an air bed for themselves in 2007. Then, they started to rent it out. 

Furthermore, this rental has gigantified itself into a massive multinational business with a listing in more than 220 countries in the world. Airbnb has welcomed more than 1.5 billion guests. 

Their revenue in 2022 was $8.4 billion, and the shares are 28% up after last year’s list. 

The last revenue increase made the CEO Brian Chesky and the nonprofit arm Airbnb chairperson Gebbia more than one billion richer. This 42-year-old businessman is one of the youngest billionaires in 2023.

7. Ryan Breslow

Ryan Breslow

Age: 28

Net Worth: $1.1 billion 

Where The Money Comes From: ECommerce

Ryan Breslow is a Stanford dropout, like Elon Musk. He founded four startups back to back, and all of them are successful as of now. He started off with Bolt, which took him to fame, followed by Eco and his latest startup, Love, in 2022. Ever since he started, Ryan has seen success in personal finance, payment processing apps, and pharmaceutical businesses. 

He is currently also working on a crypto project, which is soon expected to launch. Of course, he will be one of the youngest billionaires in the world in 2023. 

8. Leonardo Maria Del Vecchio

Leonardo Maria Del Vecchio Youngest billionaires

Age: 27

Net Worth:  $3.5 billion 

Where The Money Comes From: Luxottica

The second richest person in Italy is Leonardo Del Vecchio, the founder of the famous Eyewear company Luxottica. Unfortunately, Del Vecchio died in 2022, leaving 12.5% of his wealth in shares and the publicly traded luxury eyewear firm. Maria, the only child of Del Vecchio, is the current head of the Luxottica company strategy and is one of the youngest billionaires at the age of 27.

9. Katharina Andresen

Katharina Andresen Youngest billionaires

Age: 27

Net Worth:  $1.5 billion 

Where The Money Comes From: Investments

Katherine is the sixth-generation owner of Ferd, an investment company run by her father, Johan. She is the sustainability officer at a construction firm based in Oslo. One of the world’s youngest billionaires, Katherine is only 27 as of now. 

10. Wang Zedong

Wang Zedong Youngest billionaires

Age: 26

Net Worth:  $1.4 billion 

Where The Money Comes From: Pigment production

Wang‘s fortune is built on a pigment production company called CNNC Hua Yuan Titanium Dioxide—a chemical product that helps with the production of pigment for paper and paints. 

Conclusion

In this blog post, we have followed the list of Youngest billionaires released by Forbes. Most of these individuals made it into the billion-dollar club by starting a business or inheriting it from their predecessors. Either way, I hope that you enjoyed reading this blog post.

Please share your feedback and criticism on the same. Thank you for reading.

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Shahnawaz is a passionate and professional Content writer. He loves to read, write, draw and share his knowledge in different niches like Technology, Cryptocurrency, Travel,Social Media, Social Media Marketing, and Healthcare.

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