Historic Shift: Forbes’ Under-30 Billionaires Are All Inheritors for First Time in 15 Years

The wealth of Forbes’ youngest billionaires isn’t self-made—it’s inherited.

For the first time since 2009, none of those listed in Forbes’ billionaire under 30 category amassed their wealth independently. Among the 25 youngest billionaires on the World’s Billionaires list, 18 inherited their fortunes.

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This shift is attributed to aging self-made billionaires moving into their 30s without being replaced by new ones in similar financial standings, according to Forbes’ article titled “World’s Youngest Billionaires 2024.”

These substantial inheritances mark the onset of what Forbes describes as “a long-anticipated generational wealth transfer.”

As affluent elders pass away, trillions are expected to change hands annually, leaving behind fortunes for their descendants, as reported by Forbes.

WEG

Claiming the title of the youngest billionaire globally is 19-year-old Livia Voigt from Brazil. Despite being a college student, Voigt boasts a net worth of 1.1 billion. She holds a minority stake in her late grandfather’s company, WEG, a prominent manufacturer of electrical motors in Latin America. WEG was co-founded by her grandfather, Werner Ricardo Voigt, along with late billionaires Eggon Joao da Silva and Geraldo Werninghaus.

Accompanying her on the list is her older sister, Dora, aged 26.

Tata Group

Next on the list are Zahan and Firoz Mistry, brothers from Ireland, each boasting a staggering net worth of $4.9 billion. Aged 25 and 27, respectively, they are the sons of the late Cyrus Mistry, former chairperson of India’s Tata Group conglomerate.

In 2022, they inherited minor stakes in Tata Group following their grandfather’s passing. Firoz, the elder sibling, pursued education at the University of Warwick, while Zahan attended Yale University. Nevertheless, their portfolio extends beyond Tata Sons, with a 25% stake each in the renowned Shapoorji Pallonji Group, actively involved in its umbrella company Afcons Infrastructure.

EssilorLuxottica

At just 19 years old, Clemente Del Vecchio is captivating the world’s attention as one of the youngest billionaires to grace Forbes’ esteemed list. His father, the renowned Italian billionaire Leonardo Del Vecchio, once helmed EssilorLuxottica, the world’s largest eyeglasses company. Tragically, the billionaire passed away at the age of 87 in June 2022, leaving behind a substantial fortune estimated at $25.5 billion.

In the wake of Leonardo’s passing, his fortune underwent a significant transition, dividing among his wife and six children. Clemente came into possession of a 12.5% stake in his father’s holding company, Delfin, headquartered in Luxembourg. This acquisition has propelled his estimated net worth to a staggering $4 billion.

Fielmann AG

Sophie Luise Fielmann, a German heiress, has emerged as a noteworthy figure in the realm of wealth, boasting a staggering net worth of $2.7 billion. Her father, Günther Klaus Fielmann, the visionary entrepreneur behind Fielmann AG, a prominent eyewear company, bequeathed the majority of his fortune to his offspring upon his demise. Despite Sophie’s lack of direct involvement in the family business, she retains ownership of approximately one-third of its shares, solidifying her status as a billionaire at the age of 29.