Of the 2,208 billionaires Forbes list of the world’s richest, 63 members are under the age of 40. This youthful cohort has grown in size since March 2017, when just 56 of the billionaires were under 40.
According to Forbes, more than half are self-made entrepreneurs; where 26 minted a fortune in the tech industry. Several have scored 10-figure-fortunes from messaging apps and e-commerce, while others built companies in the sharing economy and from drones. All of the self-made billionaires under 40 are men with 16 of the female billionaires under 40 having inherited their fortunes.
The richest billionaire under the age of 40 is, by far, Mark Zuckerberg, worth $71 billion. With goals of fixing Facebook in 2018 to become more friends and family oriented, the 33-year-old also had his second daughter, named August, in August 2017.
The second richest young billionaire is Yang Huiyan, heiress to a real estate empire headquartered in mainland China. At 36 years old, she is worth $21.9 billion. Yang owns 57% of real estate developer Country Garden Holdings, a stake that was transferred to her by her father Yeung Kwok Keung in 2007. Country Garden Holdings had a 145% surge in its stock in the last year, lifting Yang’s fortune by $12.9 billion. Yang also chairs Bright Scholar Education Holdings, which operates international and bilingual K-12 schools in China.
However, for the third year in a row, the youngest billionaires in the world are Norwegian heiresses Alexandra and Katharina Andresen, who are 21 and 22 years old, respectively. Katharina Andresen was pulled over in April 2017 in her Audi Q3 near a ski resort with a blood alcohol content that was three times the legal limit. The courts fined Andresen $32,000 and suspended her license for 13 months. The sisters’ father, Johan H. Andersen, transferred ownership of their family’s investment company, Ferd, to them in 2007. The sisters each have a $1.4 billion dollar fortune.
While the youngest self-made billionaire is John Collison of Stripe, age 27. He cofounded the payments startup with older brother Patrick Collison, who at 29 is also one of the youngest billionaires. Stripe’s most recent fundraising round in November 2016 valued the company at $9.2 billion; the brothers are each worth $1 billion. John Collison is just a few months younger than Snap cofounder and CEO Evan Spiegel. With a net worth of $4.1 billion, Spiegel spent the last year leading a redesign of the Snapchat app.
Pavel Durov, 33, founded Vkontakte, Russia’s second largest social media network, in 2007 when he was 22. Today, Vkontakte boasts more than 400 million users. He sold a 12% stake in the company for an estimated $300 million in 2015, when he left for Dubai after refusing to cooperate with Russian secret services and provide encrypted data of Vkontakte users. Most of his fortune lies in his majority ownership of Telegram Messenger, an encrypted messaging app with over 100 million users worldwide.
After turning 35 years old in May 2017, Lynsi Snyder inherited the final portion of her family’s burger empire, leading to her debut on the World’s Billionaires List with a net worth of $1.2 billion. The heiress to the West Coast-based In-N-Out burger chain, inherited pieces of the chain over the past decade as part of a complex trust structure laid out by her grandparents, Harry and Esther Snyder, who founded the popular burger chain in 1948.
In all, the 63 youngest billionaires in the world are worth a collective $265 billion, up from $208 billion last year.