In 2024, Forbes published its list of the world’s youngest billionaires, featuring a total of 2,781 individuals from various countries. This year’s list has seen an increase of 141 billionaires compared to last year, highlighting the ever-expanding wealth landscape. Among the prominent names included are iconic figures like Elon Musk, Jeff Bezos, Mukesh Ambani, and Gautam Adani. Notably, there are 10 billionaires on this list who are under the age of 35. This group comprises two types of billionaires: those who have earned their wealth through personal effort and innovation, and those who have inherited their fortunes from previous generations. Let’s take a closer look at four young billionaires who have found success through their family legacies.
Young Billionaires from Wealthy Legacies
John Collison
John Collison, aged 33, hails from Ireland and made his mark in the tech industry by co-founding Stripe, an online payment processing company, alongside his brother in 2010. As of now, his estimated net worth stands at approximately $7.4 billion. John’s journey highlights the intersection of technology and innovation that has become vital in the modern economy.
Mark Mateschitz
Mark Mateschitz is another prominent name in the list of young billionaires. He is the son of Dietrich Mateschitz, the co-founder of Red Bull. After his father’s passing in 2022, Mark inherited a 49% stake in the company, resulting in a staggering net worth of $39.6 billion (approximately ₹3.32 lakh crore). Mark’s position reflects the legacy of entrepreneurship and brand building that has defined Red Bull’s immense global success.
Firoz Mistry and Jehan Mistry
The Mistry brothers, Firoz and Jehan, are notable heirs of the late Cyrus Mistry, the former chairman of the Tata Group. Both have attained Irish citizenship but maintain strong ties to India, where their family business operations continue. Their net worth is approximately $5.1 billion each, a fortune inherited following their father’s untimely demise. The Mistry family’s connection to one of India’s largest conglomerates emphasizes the blend of legacy and modern business practices.
How These Billionaires Spend Their Wealth
Your next question might be: how do these billionaires manage and utilize their vast fortunes? While a significant portion of their wealth comes from inheritance, they tend to be prudent in their spending. Mark Mateschitz, for example, has a passion for racing cars alongside his entrepreneurial endeavors. Many of these young billionaires prefer to reinvest their wealth back into their businesses or pursue their interests, maintaining a strategic approach to wealth management.
Key Takeaways
| Name | Age | Net Worth | Source of Wealth |
|---|---|---|---|
| John Collison | 33 | $7.4 billion | Co-founder of Stripe |
| Mark Mateschitz | Early 30s | $39.6 billion | Inherited stake in Red Bull |
| Firoz Mistry | Mid 30s | $5.1 billion | Inheritance from Tata Group |
| Jehan Mistry | Mid 30s | $5.1 billion | Inheritance from Tata Group |
These young billionaires illustrate the diverse paths to wealth—from innovation in technology to managing significant family businesses. Their stories serve as a reminder of the continuing influence of legacy in shaping today’s entrepreneurial landscape.
