Their bank accounts are stacked — with family money.
For the first time since 2009, none of those who made Forbes’ list of billionaires under 30 generated their massive wealth on their own.
This year, 18 of the 25 youngest on the World’s Billionaires list inherited their wealth.
The statistic is partly due to past self-made billionaires aging into their 30s, and not getting replaced by others in the same financial situation, the business magazine reported in an article titled “World’s Youngest Billionaires 2024.”
The hefty inheritances are also the start of what the outlet calls “a long-anticipated generational wealth transfer.”
“Trillions are expected to change hands every year as the affluent elderly pass away and leave their fortunes to descendants,” Forbes reported.
The title of youngest billionaire in the world goes to 19-year-old Livia Voigt of Brazil.
The college student, who has a net worth of 1.1 billion, has a minority stake in her late grandfather’s electrical equipment production company WEG.
She was accompanied on the list by her older sister, Dora, 26.
A pair of twentysomething billionaire brothers from Ireland who also made the list, Zahan and Firoz Mistry, are estimated to have a net worth of a staggering $4.9 billion each.
The duo, who are 25 and 27 respectively, are the sons of the late Cyrus Mistry, former chairperson of India’s largest conglomerate, the Tata Group.
Each got a minor stake in the company after their grandfather died in 2022.
In 2022, Clemente Del Vecchio, 19, of Italy, earned a stake in EssilorLuxottica, the Italian-French maker of Ray-Ban, after his dad Leonardo Del Vecchio died.
He now has a net worth of $4.7 billion along with his brothers Leonardo Maria, 28, and Luca, 22.
The German heiress to eyewear company Fielmann AG, Sophie Luise Fielmann, 29, who is worth $2.7 billion, received the fortune that her father, Günther Fielmann, left to her after he died in January.
