From a makeup magnate to a software founder
Youth, beauty and especially talent! The world's ten youngest billionaires of 2020 are missing none of those. Some of them were well-born, others worked hard or came up with brilliant business ideas. Will they be able to maintain their position, or will the ranking change again this year?
1. Kylie Jenner: 22 billion CZK (age 23)
For the second year in a row, the youngest billionaire is Kylie Jenner. The 23-year-old beauty has been in the public eye since she was a child, thanks to the family reality show "Keeping Up With The Kardashians". However, she built up her astronomical assets by founding the cosmetics brand Kylie Cosmetics in 2014. The value of this company was around 26 million CZK until 2019, but then Jenner agreed to sell a 51% majority stake to the cosmetic conglomerate Coty Inc. for 13.2 billion CZK.
2. and 3. the Andresen sisters: each 33 billion CZK (ages 24 and 26)
Norwegian sisters Alexandra (24) and Katharina (26) Andresen were well-born. The young sisters became billionaires very soon, both inheriting 42% of the family investment company Ferd.
Alexandra first appeared on the list of billionaires at the age of 18. Forbes declared her "the youngest billionaire in the world" at the time, but the title has since been taken over by Kylie Jenner with her fast-growing cosmetic empire.
While Jenner loves to show off her collection of luxury cars, the Andresen sisters live a little more modestly. In 2016, Katharina stated that she and her sister had been taught by their parents, since they were little, to avoid wasting money on luxury cars.
4. Gustav Magnar Witzøe: 83.6 billion CZK (age 28)
With a bit of an exaggeration, we could say that Norway seems to be full of young billionaires, because 28-year-old Gustav Magnar Witzøe also comes from this country. Witzøe owns almost half of SalMar ASA, one of the largest salmon producers in the world. In 2013, he received his share as a gift from his father, who had founded the company in 1991. SalMar led to the industrialization of fish farming in Norway, and thanks to the perfect cut, it was able to obtain a much larger margin.
Elder Witzøe continues to run the company, while Gustav Magnar is trying to push his investment into real estate and technology startups.
5. Elisabeth Furtwängler: 28.6 billion CZK (age 29)
Elisabeth Furtwängler and her brother Jacob acquired a nearly 76% stake in the family-owned media company Hubert Burda Media, based in Germany. Both now serve as members of the board of directors.
6. Jonathan Kwok: 48.4 billion CZK (29 years)
Jonathan Kwok inherited in 2018, together with his older brother Geoffrey, a share in Sun Hung Kai Properties, the largest developer in Hong Kong, after his late father Walter. The brothers inherited Walter's direct stake in SHKP and are the recipients of one-third of the five large family trusts owned by their grandmother.
7. John Collison: 70.4 billion CZK (age 30)
John Collison, a native of Ireland, is the co-founder and president of Stripe, a company that allows entrepreneurs to receive payments online. He and his brother came up with Stripe while studying at Cambridge College.
Since the company was founded in 2010, its value has been constantly increasing. In September 2019, it received funding in the amount of 5.5 billion CZK and was valued at an incredible 770 billion CZK.
8. Evan Spiegel: 259 billion CZK (age 30)
The seventh youngest billionaire in the world is the American Evan Spiegel, who became a billionaire at the age of 25. In 2011, he created the Snapchat app with his Stanford University classmate Bobby Murphy. The application for sending photos and videos is used by about 230 million users every day. Spiegel is also one of the youngest CEOs of a publicly-traded company in the world.
9. Pedro de Godoy Bueno: 74.8 billion CZK (age 30)
Pedro de Godoy Bueno is the youngest Brazilian billionaire. His late father, Edson de Godoy Bueno, was the richest Brazilian billionaire in health care. Edson died of a heart attack in 2017 at the age of 73, leaving most of his possessions to his children, Pedro and Camille. Pedro is the CEO of the laboratory company Diagnosticos da America SA.
10. Lisa Dräxlmaier: 46.2 billion CZK (age 30)
Lisa and her father Fritz are both CEOs of Fritz Dräxlmaier Holdings GmbH, the holding company controlling the automotive parts supplier of the same name. The company's customers include names such as Audi, BMW, Maserati or Tesla.