World's five youngest moguls control $12.3 billion fortune; Who are they?

In an era where youthfulness and innovation are highly prized, a new breed of business tycoons has emerged globally. These individuals, barely into their 20s, have harnessed their entrepreneurial acumen, cutting-edge ideas, and support systems to amass a staggering fortune.

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Particularly, data acquired by Finbold indicates that as of Q3 2023, the world’s five youngest billionaires collectively control a staggering $12.3 billion in wealth as of September 21. At 22, Italy’s Luca Del Vecchio, a prominent figure in the eyeglasses industry, with links to the Luxottica Group leads the pack with a fortune valued at $3.9 billion. He owns eyewear brands like Armani Exchange, Burberry and Dolce. His brother, Clemente Del Vecchio, also active in the same industry, has amassed a wealth of $3.9 billion at the age of 19.

In third place is Germany’s Kevin David Lehmann, aged 21, who has made a mark in the drugstore industry, boasting a net worth of $2.5 billion. Lehman acquired his fortune through a stake in Germany’s leading drugstore chain, DM (Drogerie Markt).

Elsewhere, South Korea’s Kim Jung-youn, at 19 years old, secures the fourth position with an impressive fortune of $1 billion. Occupying the fifth spot is Kim Jung-min, aged 21, who shares a valuation of $1 billion with her compatriot. These South Korean siblings have accrued their wealth through their stake in the online gaming giant Nexon (NXC), founded by their late father, Kim Jung-Ju.

How the young billionaires are making money