Annually, Forbes, a renowned American business magazine, rates the world’s current billionaires and adds new ones to its list based on net worth.
The 25 youngest individuals on Forbes’ 2024 World’s Billionaires list have a combined net worth of $110 billion.
Nevertheless, some of them are homegrown, including well-known businesses like Oculus VR, Snapchat, and Gymshark.
Now, let’s get to know six of these bright young people who have become self-made millionaires.
Evan Spiegel — Snap Inc
French-American businessman Evan Spiegel, 33, serves as CEO of Snap Inc., the organization that created the well-known social media program Snapchat.
After leaving Stanford University, he co-founded Snapchat with his fraternity brothers Bobby Murphy and Reggie Brown in 2011, and by the time he was 25 years old, he had amassed a multibillion fortune.
With a net worth of $3.1 billion, Spiegel and Murphy, 35, jointly hold about 25% of the publicly traded Snap Inc., which brought in $4.6 billion in sales last year.
John Collison — Stripe
When John Collision, 33, and his brother Patrick, 35, founded Auctomatic with the brothers Harj and Kulveer Taggar, they sold the eBay management software company for $5 million in 2007. At the time, John was still a high school student.
Following his enrollment and subsequent withdrawal from Harvard, John co-founded Stripe with his brother. Stripe is a payment software that has attracted investors such as Fidelity and Ireland’s national development fund.
At age 26, he became the youngest self-made billionaire in the world in 2016 after a $9.2 billion fundraising round. His net worth as of right now is $7.2 billion.
Ben Francis — Gymshark
British businessman Ben Francis, 31, is the CEO of Gymshark, a sportswear company he co-founded in his parents’ garage in 2012 with his friend Lewis Morgan.
Francis still controls 70% of Gymshark after Morgan sold his share to private equity company General Atlantic in 2020, bringing his net worth to $1.3 billion.
Andy Fang and Stanley Tang — DoorDash
The combined net worth of 31-year-old Hong Kong tech entrepreneur Stanley Tang and 31-year-old American internet entrepreneur Andy Fang is $1.2 billion.
While living together in Stanford dorms, Fang and Tang collaborated with Tony Xu, a 39-year-old MBA student, to start DoorDash in 2013 after observing the lack of convenient meal delivery choices in the neighborhood.
2020 had its public release.
Currently, Tang is in charge of DoorDash Labs, the company’s robotics and automation division, while Fang oversees DoorDash’s “LaunchPad” engineering team.
Palmer Luckey — Oculus VR
American internet entrepreneur Palmer Luckey, 31, is a self-taught software engineer who founded Oculus VR, the company that brought him his first billion dollars.
After making a virtual reality headgear at the age of sixteen, he sold it to Facebook in 2014 for a $2 billion sum.
The $2.3 billion-rich Luckey created Anduril, a defense technology business that has been supplying drones to Ukraine, in 2017. In December 2022, Anduril was valued at $8.5 billion in a fundraising deal.
I am a dedicated student currently in my seventh semester, pursuing a degree in International Relations. Alongside my academic pursuits, I am actively engaged in the professional field as a content writer at the Rangeinn website.