In a notable shift in the world of wealth and inheritance, Forbes’ World’s Youngest Billionaires 2024 list reveals a striking trend: the era of self-made billionaires under 30 is giving way to a new generation of inherited wealth. For the first time in 15 years, no self-made billionaires under the age of 30 are featured, underscoring the “great wealth transfer” that is reshaping the landscape of youthful affluence. This new generation, often referred to as the “nepo babies,” is making headlines with their vast fortunes, largely inherited rather than earned. From the heir to Red Bull’s empire to the young Brazilian university student with a stake in a major electrical company, these individuals are setting new benchmarks in wealth and influence. Here’s a look at the top eight youngest billionaires and how they’ve amassed their impressive fortunes.
Mark Mateschitz: The Red Bull Heir
Mark Mateschitz, aged 31, tops the list with a staggering net worth of US$39.6 billion. As the son of Red Bull co-founder Dietrich Mateschitz, he inherited a 49% stake in the company after his father’s death. With Red Bull’s significant revenue and global reach, Mark’s fortune is among the highest for young billionaires.
John Collison: From Self-Made to Wealth Transfer
At 33, John Collison remains one of the wealthiest young entrepreneurs, with a net worth of US$7.2 billion. Co-founder of Stripe, Collison was once the world’s youngest self-made billionaire in 2016. His continued success reflects a blend of entrepreneurial achievement and inherited wealth dynamics.
Firoz and Zahan Mistry: Inherited Wealth in India
Brothers Firoz and Zahan Mistry, aged 27 and 25 respectively, each hold a net worth of US$5.1 billion. Their wealth comes from their stakes in the Tata conglomerate and Shapoorji Pallonji Group, inherited after the recent deaths of their father and grandfather, who was Tata’s largest individual shareholder.
Clemente and Luca Del Vecchio: Eyewear Industry Giants
Clemente and Luca Del Vecchio, aged 19 and 22, are each worth US$4.9 billion. They inherited a 12.5% stake in EssilorLuxottica from their father, Leonardo Del Vecchio. The company, known for its Ray-Ban brand, is a major player in the eyewear industry, contributing significantly to their wealth.
Michal Strnad: Ammunition Tycoon
At 31, Michal Strnad has a net worth of US$4.5 billion. He inherited Czechoslovak Group (CSG) from his father in 2018. CSG is one of Europe’s largest ammunition producers and also specializes in weapons, military vehicles, and radars.
Gustav Magnar Witzøe: Norwegian Heiress to a Fish Farming Fortune
Gustav Magnar Witzøe, aged 30, holds a net worth of US$4.2 billion. He was given nearly half of the family’s fish farming company, SalMar, by his father at age 19 to avoid a large inheritance tax. Today, Witzøe invests in tech start-ups and properties, maintaining a high profile in both business and social events.
Livia Voigt: The Youngest Billionaire
At just 19 years old, Brazilian Livia Voigt is the youngest billionaire on the list. Still pursuing her university studies, Voigt’s wealth of approximately US$1.1 billion stems from her minority stake in the electrical equipment company WEG, which was co-founded by her late grandfather.
