Youngest Billionaires In The World 2024 - Forbes India (2024)

The world of billionaires showcases a fascinating dichotomy. Most of the youngest billionaires inherit wealth from their families. In contrast, most older crowd have 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 May 7, 2024 like so:

What do we know about the youngest billionaires in the world? Here’s a closer look:

Livia Voigt

• Source of wealth: WEG
• Residence: Florianópolis, Brazil
• Citizenship: Brazil

Livia Voigt is one of the largest individual shareholders of WEG—the largest manufacturer of electrical motors in Latin America. Her grandfather, Werner Ricardo Voigt, co-founded the company along with late billionaires Eggon Joao da Silva and Geraldo Werninghaus. WEG is a publicly traded multinational with factories in over ten countries. Its revenue is estimated to be around $6 billion in 2022. Though the biggest shareholder, she still attends university and holds no executive position.

Clemente Del Vecchio

• Source of wealth: EssilorLuxottica, Delfin
• Residence: Milan, Italy
• Citizenship: Italy

Clemente is in second place on 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. Though he has inherited this fortune, he has a keen interest in science and technology and desires to attend college and pursue a career in these fields.

Kim Jung-youn

• Source of wealth: NXC, Nexon
• Residence: Jeju, South Korea
• Citizenship: South Korea

Kim Jung-youn and her older sister, Jung-min, hold approximately 18 percent of NXC, the largest online gaming company Nexon shareholder. 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 54 in February 2022. Neither 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 of around $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 managed the family's Pfannkuch grocery chain, invested in dm. Guenther transferred 50 percent of his ownership in dm to Kevin David in 2017. Neither Kevin David nor his father has actively participated in dm's operational activities and is known for maintaining a private image.

Luca Del Vecchio

• Source of wealth: EssilorLuxoticca, Delfin
• 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. Unlike his brother Clemente, Luca is the chief strategy officer and actively engages in the company's affairs.

Kim Jung-min

• Source of wealth: NXC, Nexon
• Residence: Jeju, South Korea
• Citizenship: South Korea

Jung-youn’s sister, Jung-min, is fourth among the world's ten youngest billionaires. 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.

Remi Dassault

• Source of wealth: Dassault Aerospace and Software
• Residence: Paris, France
• Citizenship: France

Remi’s great-grandfather founded Dassault Aviation, a French aerospace company known initially for making propellers during World War I. His father, Olivier Dassault, who died in a helicopter crash in 2021, was an influential politician in France’s National Assembly. The Dassault family owns several vineyards, a private aeronautic company, and daily news publisher Le Figaro.

Zahan Mistry

• Source of wealth: Shapoorji Pallonji Group
• Residence: Mumbai, India
• Citizenship: Ireland

Zahan Mistry is the son of Cyrus Mistry, the former chairman of Tata Sons. He inherited an 18.4 percent stake in Tata Sons after his father’s demise in 2022 through a car crash. Zahan Mistry is actively involved in the family’s construction empire and owns a 25 percent stake in Shapoorji Pallonji Group. As part of its debt reduction strategy, the group intends to list Afcons Infrastructure, a privately held construction and engineering company, for an eye-watering $850 million.

Dora Voigt de Assis

• Source of wealth: WEG
• Residence: Florianópolis, Brazil
• Citizenship: Brazil

Dora Voigt d Assis is the older sister of Livia Voigt de Assis, the youngest billionaire on this list. She is also one of the largest individual shareholders of WEG, the largest manufacturer of electrical motors in Latin America. Dora graduated from an architecture college in 2020. Like her sister, she doesn’t hold any executive position at WEG.

Firoz Mistry

• Source of wealth: Shapoorji Pallonji Group
• Residence: Mumbai, India
• Citizenship: Ireland

Firoz Mistry is Zahan Mistry's elder brother. He also inherited part of his family’s 18.4 percent stake in Tata Sons after their father, Cyrus Mistry, died in 2022. Firoz pursued his education at the University of Warwick. He has sharp entrepreneurial and business acuity and strategic foresight. His portfolio includes 25 percent stakes in Shapoorji Pallonji Group.