Today's 'Baby' Billionaires Didn't Exactly Earn Their Wealth

For the first time, none of the 30-and-under set on 'Forbes' list of youngest billionaires is self-made
By Jenn Gidman,  Newser Staff
Posted Apr 4, 2024 7:07 AM CDT
Today's 'Baby' Billionaires Didn't Exactly Earn Their Wealth
Stock photo.   (Getty Images/Marharyta Marko)

There are nearly 2,800 billionaires in the world, as of last count, and 15 of them are 30 or under—and, for the first time, everyone from that younger set has inherited their wealth. It's part of the advent of what Forbes calls the "great wealth transfer," with trillions expected to be passed down from the filthy-rich elderly to their younger heirs. Citing numbers from Cerulli Associates, the Guardian notes that about $70 trillion is expected to be handed off over the next two decades to the next generation.

That transfer will make millennials "the richest generation in history," according to research by real estate agent Knight Frank. The youngest person in this latest inheritance-flush group is 19-year-old college student Livia Voigt of Brazil, who's worth around $1.1 billion due to her minority stake in electrical equipment manufacturer WEG, co-founded by her late grandfather. Dora Voigt de Assis, Livia's 26-year-old sister, also makes the list with a $1.1 billion net worth.

There are some younger self-made billionaires that are among the 25 youngest billionaires on Forbes' list, though they're all above the age of 30. About 60% of these baby billionaires are from Europe, with the super-rich heirs also hailing from Brazil, Hong Kong, and South Korea. As for regular old billionaires, Bernard Arnault and his family once more reign in the top spot on Forbes' list, with a net worth of $233 billion. X owner Elon Musk is second, with $195 billion to his name, followed by Amazon founder Jeff Bezos with $194 billion. (More billionaires stories.)

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