The five youngest billionaires in the world inherited their wealth from their late fathers. Two among them belong from Italy and South Korea each.
November 22, 2023 / 07:35 PM IST
Most of the youngest billionaires in the world inherited wealth from their families, Forbes noted. (Image credit: Unsplash)
A fascinating dichotomy in the world of billionaires is that while the oldest have earned theirwealth from scratch, the youngest mostly inherited it. There are of course exceptions with a handful of self-made young billionaires whose journeys have been characterised by determination, resilience, and the ability to seize opportunities.
AsForbesrecently updated its list of the world's youngest billionaires, here's a list of who is in the top five and their sources of income:
1.)Clemente Del Vecchio
Topping the list of Forbes's top ten youngest billionaires in the world is Clemente Del Vecchio -- son of late Italian billionaire Leonardo Del Vecchio who owned Ray-Ban. After his death in 2022, Clemente Del Vecchio inherited the wealth and became the world's youngest billionaire at 18.
The teenage alsoacquired 12.5 percent ownership in the Luxembourg-based holding company Delfin whose portfolio includes EssilorLuxottica holdings, shares in insurer Generali, banks like Mediobanca and UniCredit, and real estate developer Convivio.
2.)Kim Jung-younSouth Korea's Kim Jung-youn, 19, and her21-year-old sister, Jung-min, hold approximately 31 percent of NXC -- the largest shareholder in the online gaming company Nexon.
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Asignificantportion of their stakes has been passed down through their late father and billionaire, Kim Jung-ju, who founded Nexon in 1994 and died in February 2022. He was 54. Neither of the siblings has been actively engaged in Nexon's daily operations, and they maintain a low public profile.
3.)Kevin David Lehmann
Germany's Kevin David Lehmann owns a 50 percent ownership stake in the country's drugstore chain, dm (drogerie markt), with an annual revenue exceeding $14 billion, Forbes reported.
The chain's origins can be traced back to 1973 when Goetz Werner established its first dm store in Germany's Karlsruhe and now the company has stores inover 3,700 locations.
In 1974, Kevin David Lehmann's father, Guenther, who was managing the family's Pfannkuch grocery chain, invested in dm and in 2017, transferred his 50 percent ownership in dm to Kevin David. Neither Kevin David nor his father has actively participated in dm's operational activities, and stay away from the public glare.
4.)Kim Jung-min
Jung-youn’s older sister, Jung-min, comes in fourth in Forbes's list of the top ten youngest billionaires in the world. Together, both the South Korean sisters hold approximately 31 percent of NXC, making it the largest shareholder in the renowned online gaming giant Nexon. The sisters maintain a private profile.
5.)Luca Del Vecchio
Twenty-two-year-oldLuca Del Vecchio is among the six children of the late Leonardo Del Vecchio who made his fortune from eyeglasses.
Following the Ray-Ban owner's death,Luca, like his younger brother, Clemente, inherited a 12.5 percent stake in the Luxembourg-based holding company Delfin whose extensive portfolio encompasses EssilorLuxottica holdings, shares in insurer Generali, banks such as Mediobanca and UniCredit, and the real estate developer Covivio.Luca is not known to have a role at the eyewear company.
Read more:Billionaire Joy Alukkas is now India's 'richest jeweller'. His net worth is...
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Tags: #Billionaire #Forbes #Ray-Ban
first published: Nov 22, 2023 07:32 pm
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