5 Youngest Billionaires in the World Ranked
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Entrepreneurs - August 29, 2023

5 Youngest Billionaires in the World Ranked

A group of young individuals have taken the billionaire scene by storm, changing the narrative. Forbes said the average billionaire today is 65 years old, but these rising stars have cracked the code to unimaginable wealth, thanks to their genius ideas and, in some cases, fortunate family legacies. 

Imagine becoming a billionaire before most people even finish college,  proving that age is no barrier to making a fortune. This year, several young people joined the latest list of the young billionaires in the World as published by Forbes. This article will list some young people who have amassed great wealth, thus, joining the billionaire club.

Clemente Del Vecchio, 18

18-year-old Italian, Clemente Del Vecchio, making headlines as the youngest billionaire of the year. He’s inherited a whopping $3.5 billion from his late dad’s eyewear company, Luxottica. This comes with owning brands like Armani Exchange, Burberry, Dolce & Gabbana, and Prada Eyewear.

His father, Leonardo Del Vecchio, passed away in 2022, and Clemente inherited a 12.5% stake in the family’s legacy and EssilorLuxottica, the eyewear powerhouse behind iconic brands such as Ray-Ban and Oakley. Clemente owns parts of companies like Generali, Mediobanca, and UniCredit, and property developer Covivio.

Kim Jung-youn, 19

Teenage tycoon, Kim Jung-youn has a staggering US$1.7 billion making her one of the youngest billionaires in the world. The 19-year-old billionaire alongside her sister Jung-min, holds a solid 31% ownership in NXC, the major stakeholder of online gaming giant Nexon. This substantial share was inherited from their late father, Nexon founder Kim Jung-ju, who passed away at 54 in February 2022. Despite their substantial influence, both sisters maintain a low profile and have no known involvement in Nexon’s operations.

Kevin David Lehmann, 20

At just 20 years old, German heir Kevin David Lehmann boasts a staggering $2.3 billion net worth. He got his wealth through a hefty 50% ownership of dm-drogerie markt, Germany’s retail giant, generating over $14 billion in annual revenue. Interestingly, neither Kevin nor his father plays an active role in dm’s operations.

The dm saga began in 1973 when Goetz Werner opened the first store in Karlsruhe, Germany. Today, with a whopping 3,700 outlets, dm stands tall. In 1974, Kevin’s father, Guenther, invested while managing the family’s Pfannkuch grocery chain. In a strategic move, Guenther discreetly passed on his 50% dm stake to his son, Kevin David in 2017. Both remain detached from dm’s operational side, leaving the world curious about these modern fortune shapers.

Kim Jung-min, 21

Kim Jung-min, at 21 years old, commands a remarkable $1.7 billion fortune. Following the passing of her father, Kim Jung-ju, in February 2022, she and her sister, Kim Jung-youn, inherited a substantial portion of their family’s assets. These South Korean siblings have also claimed an impressive 15% stake each in Nexon, the gaming powerhouse known for hits like MapleStory and Winds.

Their financial saga takes shape with each sister holding an impactful 31% ownership in NXC, the primary force behind Nexon’s online gaming empire. Their father’s legacy, as Nexon’s founder in 1994, resonates even after his demise at 54. Despite their significant shares, neither Kim Jung-min nor her sister play active roles in Nexon’s operations. 

Luca Del Vecchio, 21  

Luca Del Vecchio holds an astounding net worth of $3.5 billion. The son of Luxottica’s late chairman, Leonardo Del Vecchio, and Sabrina Grossi, Luca inherited a substantial fortune after his father’s passing in 2022. Little is known about this Italian Gen Z figure, with no online photos to be found. At 21 years old, his role within the company, which owns iconic brands like Ray-Ban and Oakley, remains uncertain.

Among Leonardo Del Vecchio’s six children, Luca’s story stands out. He, along with his stepmother and siblings, inherited a 12.5% stake in the Luxembourg-based holding company, Delfin, which also holds shares in Generali, Mediobanca, UniCredit, and Covivio, a real estate developer. As one of two children born to Leonardo and Sabina Grossi, Luxottica’s former head of investor relations, Luca Del Vecchio’s life embodies both family heritage and substantial wealth.

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