Facts About Youngest Billionaires In The World
Facts About Youngest Billionaires In The World. Photo KnowInsiders
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The youngest billionaires on the planet haven’t even been alive for three decades, but that hasn’t stopped them from amassing three-comma fortunes. Twelve people under the age of 30 made Forbes’ 2022 list of the World’s Billionaires, including four Stanford dropouts, two food delivery magnates and a cryptocurrency whiz. Together, this rarefied group is worth $25.8 billion and represents less than half a percent of the 2,668 billionaires Forbes found this year.

Let’s take a look at some facts about the youngest billionaires in the world today.

Who is the youngest billionaire in the world?

That is an 18-year-old girl, Kim Jung-youn. She is the daughter of the late South Korean billionaire Kim Jung-ju, the founder of online game giant Nexon.

Kim Jung-youn has just become the world's youngest billionaire after inheriting a stake from her father. . Kim Jung-ju passed away at the age of 54 in February this year.

Facts About Youngest Billionaires In The World
Photo NDH

Jung-youn and his sister Jung-min each inherited a 30.78% stake in NXC, a company owned by their late father. Meanwhile, NXC holds the largest stake in Nexon, with nearly 48%. Thus, the total shares of the two sisters in NXC and Nexon are worth $2.5 billion each. After deducting inheritance tax (Korea has the highest inheritance tax in the world), Forbes calculates each inheritor more than $1.5 billion.

Did her mother receive an inheritance?

Kim’s mother, Yoo Jung-hyun, 53, was a billionaire before her husband’s death. She inherited a stake of 4.57 per cent after his passing. She helped her husband found Nexon in 1994 and is still the largest shareholder in NXC as she holds a 34 per cent stake. Yoo found a place among the 50 Richest in Korea this year with a net worth of $3 billion.

What do we know about Jung-ju and his company?

Facts About Youngest Billionaires In The World
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Little is known about Jung-ju as he avoided the media. His company, Nexon, has its headquarters in Tokyo. NXC was founded in Jeju, which is a South Korean resort island. Jung-ju withdrew from the daily management of his company in 2006 to focus on other investments and philanthropic activities. He was on the 15 Heroes of Philanthropy list released by Forbes Asia last year because of his generosity to children’s hospitals.

Who was the previous youngest billionaire?

Jung-youn dethroned Kevin David Lehmann of Germany, the previous youngest billionaire. Kevin turned 20 this month and became a billionaire through his father, Guenther Lehmann, who made his son a billionaire at 18. This was through a stake transfer in the German drugstore chain Drogerie Markt to Kevin when he was 14. His father put the stake in trusteeship until his son turned 18 in 2020.

READ MORE: Top 10 Most Handsome Billionaires In The World 2022/2023

Alexandr Wang is the youngest self-made billionaire in the world

Facts About Youngest Billionaires In The World
Photo Forbes

If Kim Jung-youn and Kevin David Lehmann both became billionaires thanks to their inheritance, Alexandr Wang (born in 1997) was recognized by Forbes as the youngest self-made billionaire in the world.

In 2016, Wang left the Massachusetts Institute of Technology (MIT) at the age of 19 despite not graduating to found the software startup Scale AI.

Three years later, the company's artificial intelligence solution has been applied in about 300 businesses, including big names in self-driving cars such as Alphabet's Waymo, General Motors' Cruise or Uber Technologies. Last year, Scale raised $325 million in its latest funding round, bringing the company's valuation to $7.3 billion. Wang's 15% stake is worth about $1 billion.

Wang’s childhood

Alexandr Wang grew up in the shadow of New Mexico’s Los Alamos National Lab, the top-secret site where the United States developed its first atomic bomb during World War II. His parents were physicists who worked on the weapons’ projects for the military. Now he does too: Wang’s six-year-old San Francisco-based company, Scale AI, has already inked three contracts worth up to $110 million, contingent on the government’s needs, to help America’s Air Force and Army employ artificial intelligence (AI). Pretty impressive for a 25-year-old.

While he’s not a partier like his cofounder, Wang actively uses social media to promote his public image. Like most young men, he uses Twitter to share his views on the new Spider-Man movie with his 20,000 followers, and has a blog in which he writes about the secrets of his success and offers advice for future entrepreneurs. Some of his blog posts say that an optimistic attitude is fundamental for achieving objectives, and the simplest formula for success is to hire employees who care about the company and its goals. It seems to have worked for Wang: Scale Al raised US$325 million in its latest round of funding, and is currently valued at more than US$7 billion.

China's youngest billionaire keeps a private life

Facts About Youngest Billionaires In The World
Photo Toutiao

According to Forbes, 26-year-old Wang Zelong, with a fortune of $1.4 billion, is currently the youngest billionaire in China. Wang Zelong lives a very private life, does not use social networks and does not appear on media.

Even though he is one of the richest millennials in Asia, Wang has kept a very private life, much like some fellow billionaires. There is very little information known about him. He keeps a very minimal digital footprint, not even having an official social media account nor an online profile for his professional endeavours.

Wang Zelong made Forbes' billionaire list last year when he owned more than $1.3 billion worth of shares in CNNC Hua Yuan Titanium Dioxide - a chemical company listed on the Shenzhen Stock Exchange. In addition, Wang also has a stake in the chemical manufacturing company Lomon Billions Group.

Where does he come from?

Wang’s profile on Forbes mentions that he hails from the city of Jiaozuo in the province of Henan, China. For comparison, the Chinese capital of Beijing is 16 times larger than Jiaozuo, while Shanghai’s population is more than 20 times greater than theirs. It is remarkable how China’s youngest billionaire comes from a relatively lesser-known part of the country.

Gary Wang is the richest billionaire in the world under the age of 30

Gary Wang is the co-founder and CTO of crypto exchange FTX. A graduate of MIT. Wang worked at Google before shaking hands with Sam Bankman-Fried to launch FTX in 2019. The 29-year-old is now worth $4.6 billion, according to Forbes.

Facts About Youngest Billionaires In The World
Photo Tech in Asia
What is the salary of Gary Wang?

As the Chairman of the Board and Chief Executive Officer of China Customer Relations Centers Inc, the total compensation of Gary Wang at China Customer Relations Centers Inc is $107,880. There are no executives at China Customer Relations Centers Inc getting paid more.

12 billionaires under 30 years old in the 2022 World’s Billionaires list

12.Andy Fang

Age: 29

Net worth: $1.1 billion

Source of wealth: DoorDash

Country: United States

11.Stanley Tang

Age: 29

Net worth: $1.2 billion

Source of wealth: DoorDash

Country: United States

10.Gustav Magnar Witzoe

Age: 28

Net worth: $4.5 billion

Source of wealth: Fish farming

Country: Norway

9.Gary Wang

Age: 28

Net worth: $5.9 billion

Source of wealth: Cryptocurrency

Country: United States

8.Ryan Breslow

Age: 27

Net worth: $2.0 billion

Source of wealth: E-commerce

Country: United States

7.Austin Russell

Age: 27

Net worth: $1.6 billion

Source of wealth: Autonomous car tech

Country: United States

6.Katharina Andresen

Age: 26

Net worth: $1.3 billion

Source of wealth: Investment firm

Country: Norway

5.Henrique Dubugras

Age: 26

Net Worth: $1.5 billion

Source of Wealth: Fintech

Country: Brazil

4.Wang Zelong

Age: 25

Net Worth: $1.5 billion

Source of Wealth: Pigment production

Country: China

3.Pedro Franceschi

Age: 25

Net Worth: $1.5 billion

Source of Wealth: Fintech

Country: Brazil

2.Alexandra Andresen

Age: 25

Net worth: $1.3 billion

Source of wealth: Investment firm

Country: Norway

1.Kevin David Lehmann

Age: 19

Net Worth: $2.4 billion

Source of Wealth: Drugstores

Country: Germany

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