Yahoo Finance Here’s How Forbes’ 15 Youngest Billionaires Made Their Fortunes
The newest class of young billionaires consists of business owners from a variety of industries — from activewear to gaming to eyeglasses. Hailing from Austria, South Korea and more, these Gen Zers and millennials have secured their spot on Forbes’ coveted World’s Billionaires List.
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Here are the 15 youngest billionaires of 2023, ranked in order from oldest to youngest.
Mark Mateschitz
Age: 30
Net worth: $34.7 billion
Country of origin: Austria
Source of wealth: 49% stake in Red Bull
Mark Mateschitz, son of the late Dietrich Mateschitz, became a 49% owner of Red Bull, GmBH following his father’s passing in 2022. Co-founded by his father, the company is known for its production of a range of energy drinks under the Red Bull name.
Ben Francis
Age: 30
Net worth: $1.2 billion
Country of origin: United Kingdom
Source of wealth: Gymshark fitness clothing
Originally from the United Kingdom, Ben Francis began the Gymshark fitness empire in his parents’ garage. While Francis first started out selling fitness supplements, Gymshark has evolved into a fitness and lifestyle brand that has expanded to fitness gear and accessories.
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Michal Strnad
Age: 30
Net worth: $2 billion
Country of origin: Czech Republic
Source of wealth: Defense contracting
Heir to the Czechoslovak Group, which was founded by his father Jaroslav Strnad, Michal Strnad’s wealth comes from defense contracting. Czechoslovak Group (CSG) owns shares in over 100 automotive, railway and defense sector companies in the Czech Republic and Slovakia. Strnad is 100% owner and CEO of CSG and has overseen all business operations since 2018.
Palmer Luckey
Age: 30
Net worth: $1.7 billion
Country of origin: United States
Source of wealth: Virtual reality technology
Palmer Luckey, originally from California, began experimenting with VR technology at the age of 16. He is the creator of the Oculus, a prominent VR device that contributed to the revival and current popularity of the virtual reality industry. Luckey sold his Oculus VR technology to Facebook for $2 billion in 2014.
Gustav Magnar Witzoe
Age: 29
Net worth: $2.7 billion
Country of origin: Norway
Source of wealth: Fish farming
At the age of 19, Gustav Magnar Witzoe was given a 47% stake in SalMar ASA, a salmon farming company founded by his father. Witzoe is a globe-trotting socialite, primarily posting about his travels on social media. Before inheriting the company, Witzoe worked on a salmon farm for two years to familiarize himself with the trade.
Ryan Breslow
Age: 28
Net worth: $1.1 billion
Country of origin: United States
Source of wealth: E-commerce software
Ryan Breslow’s inspiration struck him like a bolt of lightning — he realized that there was not a widespread implementation of one-click checkout technology. This led to the creation of Bolt, his first e-commerce company, formed in his Stanford dorm room, where he had still been living after dropping out of college. Today, Breslow has founded multiple technology companies. He also created The Movement, a dance nonprofit that provides free dance classes in Miami, New York and Los Angeles.
Leonardo Maria Del Vecchio
Age: 27
Net worth: $3.5 billion
Country of origin: Italy
Source of wealth: Eyewear
Leonardo Maria Del Vecchio is one of the six children of Leonardo Del Vecchio, founder of the brand Luxottica, the largest producer of eyeglasses in the world. Leonardo Maria is the head of Italian retail for Luxottica and an heir to the Luxottica fortune. Luxottica is known for eyeglass brands like Costa, Ray-Ban and Oakley.
Katharina Andresen
Age: 27
Net worth: $1.5 billion
Country of origin: Norway
Source of wealth: Investments
The oldest daughter of Johan H. Andresen, Jr., Katharina Andresen was given a 42.2% stake in her family’s company, Ferd AS. Ferd is a Norwegian holding company, holding partial ownership in many Norwegian finance and real estate companies. Her father Johan still runs the company and has 70% of the votes at Ferd, while Katharina and her younger sister Alexandra hold an equal amount of shares.
Wang Zelong
Age: 26
Net worth: $1.4 billion
Country of origin: China
Source of wealth: Chemicals
The youngest billionaire in Asia, Wang Zelong hails from Jiaozuo, a mid-sized city in central China. Zelong inherited a stake of $1.4 billion in CNNC Hua Yuan Titanium Dioxide Company, which specializes in the distribution of titanium dioxide. Not much is known about Zelong, as he keeps a low profile and is inactive on social media.
Alexandra Andresen
Age: 26
Net worth: $1.5 billion
Country of origin: Norway
Source of wealth: Investments
Sister of Katharina Andresen and heir to the Ferd fortune, Alexandra Andresen acquired a 42.2% stake in the Norwegian investment company. In her personal life, Alexandra is a horse- and animal-lover and a three-time junior Norwegian dressage champion.
Luca Del Vecchio
Age: 21
Net worth: $3.5 billion
Country of origin: Italy
Source of wealth: Eyewear
Luca Del Vecchio is one of Leonardo Del Vecchio’s sons from his third and final marriage to former head of investor relations Sabina Grossi. Luca Del Vecchio’s wealth primarily comes from the inheritance of a 12.5% stake in Delfin, a Luxembourg-based holding company owned by his father, passed on after Leonardo Del Vecchio’s death in 2022.
Kim Jung-min
Age: 21
Net worth: $1.7 billion
Country of origin: South Korea
Source of wealth: Online gaming
Kim Jung-min is the eldest daughter of Kim Jung-ju, founder of Nexon, the largest gaming company in Korea. Known for titles such as KartRider and MapleStory, Nexon is one of the most popular gaming companies in Asia. Following Jung-ju’s death in 2022, Jung-min inherited a 30.78% stake in NXC, Nexon’s holding company. Her father was known as a philanthropist and was a large supporter of next-generation youth. He was the third-richest man in South Korea at the time of his death.
Kevin David Lehmann
Age: 20
Net worth: $2.3 billion
Country of origin: Germany
Source of wealth: Drugstores
Kevin David Lehmann is the son of Guenther Lehmann and a 50% stake owner of dm-drogerie market (stylized as dm), Germany’s leading drugstore chain. Kevin David Lehmann has had 50% ownership since 2017, transferred by his father when Kevin David was 14. Kevin David Lehmann is not involved operationally in dm.
Kim Jung-youn
Age: 19
Net worth: $1.7 billion
Country of origin: South Korea
Source of wealth: Online gaming
Younger sister of Kim Jung-min, Kim Jung-youn is the second-youngest billionaire on this list at 19 years old. Like her sister Jung-min, Jung-youn inherited a 30.78% stake in NXC after the passing of her father, Kim Jung-ju, in 2022.
Clemente Del Vecchio
Age: 18
Net worth: $3.5 billion
Country of origin: Italy
Source of wealth: Eyewear
The youngest child of the late Leonardo Del Vecchio, at 18 years old, Clemente Del Vecchio is the youngest billionaire on this list. Clemente is the youngest son of Leonardo Del Vecchio and his third wife Sabina Grossi. He inherited a 12.5% stake in his father’s holding company, Delfin, after his death.
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This article originally appeared on GOBankingRates.com: Here’s How Forbes’ 15 Youngest Billionaires Made Their Fortunes
