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10 Youngest Billionaires and the Ideas Behind Their Businesses

The world’s economic fabric is continuously being redefined by the emergence of young billionaires, each bringing unique ideas and innovations to the forefront. This article explores the journeys and the entrepreneurial ideas of the top ten youngest billionaires as of November 8, 2023, providing insights into how these individuals have amassed their considerable wealth.

1. Clemente Del Vecchio: Revolutionising Eyewear

Clemente Del Vecchio, at 19, is not just the youngest billionaire but a symbol of inherited entrepreneurship. Hailing from Milan, Italy, his wealth, valued at $3.8 billion, stems primarily from the eyeglasses industry. He inherited a 12.5% stake in Delfin, a holding company with interests in EssilorLuxottica, banks like Mediobanca and UniCredit, and real estate developer Convivio. His story underscores the legacy of family businesses and the expansive potential of the eyewear industry.

2. Kim Jung-youn: The Online Gaming Sensation

Matching Clemente in age, South Korea’s Kim Jung-youn represents the booming sector of online gaming. Her wealth, amounting to $1.2 billion, comes from a 31% stake in NXC, the largest shareholder in Nexon. The digital realm of gaming has proven to be a fertile ground for young billionaires, showcasing how technology and entertainment can merge to create significant wealth.

3. Kevin David Lehmann: Mastering the Retail Market

At 21, Germany’s Kevin David Lehmann has made a name for himself in the retail industry. His $2.4 billion fortune is tied to a 50% stake in the drugstore chain dm, which boasts over 3,700 locations. Lehmann’s wealth story is a classic example of how traditional retail, especially in essential commodities like pharmaceuticals, remains a lucrative avenue for young billionaires.

4. Luca Del Vecchio: Diversifying the Family Legacy

22-year-old Luca Del Vecchio, another heir to the Del Vecchio family in Italy, has a net worth of $3.8 billion. His wealth, like his brother Clemente’s, comes from a 12.5% stake in Delfin, with investments spanning eyeglasses, banking, and real estate. Luca’s journey highlights the power of diversified investments in sustaining and growing family-derived wealth.

5. Alexandra Andresen: The Investment Innovator

Norwegian heiress Alexandra Andresen, aged 27, is a prime example of strategic wealth generation through investments. Her $1.5 billion fortune is through a 42% ownership in Ferd, a family-owned investment firm. This demonstrates the significant role of investments in hedge funds, stock exchanges, and private equity in shaping the fortunes of the youngest billionaires.

6. Leonardo Maria Del Vecchio: The Active Heir

28-year-old Leonardo Maria Del Vecchio, another member of the Italian Del Vecchio family, has carved his niche with a net worth of $3.8 billion. His active role in EssilorLuxottica and as CEO of Salmoiraghi & Viganò distinguishes him among his siblings. His story is an inspiration, showing how active involvement in family businesses can amplify the ideas and wealth of young billionaires.

7. Katharina Andresen: Nurturing the Family Fortune

Like her sister Alexandra, Katharina Andresen from Norway, also 28, showcases the importance of nurturing family wealth. With a net worth of $1.5 billion from her stake in Ferd, her story reinforces the idea that managing and growing family investments can lead to substantial success for young billionaires.

8. Ryan Breslow: The Self-Made Trailblazer

At 29, American Ryan Breslow stands out as a self-made billionaire with a net worth of $1.1 billion. His journey with the e-commerce software company Bolt and the wellness startup Love highlights the entrepreneurial spirit that drives young billionaires. His ideas and innovations in the e-commerce sector exemplify the potential of technology-driven businesses.

9. Gustav Magnar Witzoe: Leading in Aquaculture

30-year-old Norwegian Gustav Magnar Witzoe, with a net worth of $3.2 billion, is a key figure in the fish farming industry. His stake in Salmar ASA, a gift from his father, illustrates the potential of sustainable industries like aquaculture in creating wealth. His diversification into real estate and technology startups is a strategic move that many young billionaires are emulating.

In conclusion, these top ten youngest billionaires exemplify how diverse ideas, ranging from online gaming and retail to investments and sustainable industries, are shaping the future of wealth creation. Their stories highlight that whether it’s through inheriting family businesses or pioneering new ventures, young billionaires are redefining the economic landscape with innovation and strategic thinking. They serve as a beacon, proving that age is no barrier to achieving extraordinary success in the world of business.

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