How many years does it take to become a billionaire? Well, there’s no clear answer for that, as billionaires can be found at different age groups. Some acquire their wealth in very short time whereas others may have to work for it for several decades.
In today’s age, people working in the software and tech industry can acquire billions pretty fast. Another possibility to become rich fast is that you inherit your family business. For a better perspective, here’s a look at some of world’s youngest billionaires in 2021.
Austin Russell – Aged 26, Austin Russell is a self-made billionaire. Austin has special interest in optics. To pursue his interests in the field of optics, Austin had dropped out of Stanford in 2012. He had launched his own venture named Luminar Technologies after he received a Thiel Fellowship worth $100,000. The startup specializes in developing tech and sensors that are used by autonomous vehicles. It has an esteemed client list including names like Toyota and Volvo. Austin’s wealth is estimated to be around 2.4 billion.
Alexandra Andresen and Katharina Andresen – The Andresen sisters got their wealth after their father transferred 42.2% ownership stakes in Ferd AS to both sisters. Based in Norway, Ferd is an investment company. It owns stakes in various companies across industries such as real estate, finance, etc. Ferd also holds private equity and venture capital investments. Alexandra (born 1996) is the younger of the two sisters, making her the third youngest billionaire in the world. Katharina is just a year older. As they own equal stakes, their wealth is the same at around USD 1.4 billion.
Wang Zelong – Aged 24 years, Wang is the youngest billionaire in all of China and Asia. Wang’s wealth can be sourced to his stakes in CNNC Hua Yuan Titanium Dioxide Co. and Lomon Billions Group. Both companies are involved in production of titanium dioxide in China. Titanium dioxide is an industrial product that is widely used for making ink, plastics, and various types of coatings. CNNC is listed on the Shenzhen stock exchange. Wang’s net worth is estimated to be USD 2.3 billion.
Kevin David Lehmann – At just 18 years of age, Kevin David Lehmann is the youngest billionaire in the world. He got his wealth after he inherited around 50% ownership in dm (Dm-drogerie markt). Dm is a leading retail stores chain in Germany, offering products like healthcare items, cosmetics, and household products. Apart from Germany, the company also has stores in several other European countries. The 50% stake in Dm was earlier owned by Kevin David Lehmann’s father. Kevin’s net worth is estimated to be USD 3.6 billion.