It’s true that money doesn’t make the world go round. During the pandemic, people saw that there’s nothing that money can do when you’re locked down in your home or if you can’t go to any retail store. That may be the fact, but it’s still nice to have all that moolah in your bank account.
There are a lot of billionaires in the world: in fact, there are 2,095. While you’d think that these people would go about setting their affairs in advance with a lawyer who knows estate planning, there may have other ideas. One factor that might make them forego this important task for a while is age; some of these billionaires, believe it or not, are young professionals who managed to make it and more at an early age.
Curious to find out who these people are? Read on and see. Who knows, you might even take an idea or two from how they managed to get their first billion.
Source: Cosmetics business
Net Worth: $1 Billion
There might be a lot that can be said about Kylie Jenner, but being poor is not one of them.
To be fair, Jenner’s family — with older sisters like Kim and Khloe — has no choice but to be thrust to greatness. There’s a lot of money to have, and there are many sponsors waiting to be given a chance. Another fair idea is how she might have money even before she set out to make her own.
Nevertheless, she’s a celebrity and a make-up mogul at the same time. She’s also a self-made billionaire, selling off a 51% stake in Kylie Cosmetics to beauty conglomerate Coty Inc. to the tune of $600 million.
(Alexandra &) Katharina Andresen
Source: Investment firm
Net Worth: $1.1 Billion
These sisters managed to make some more money out of their 42% stake in the family-owned investment company, Ferd. To be sure, their father Johan is still at the top of the company, with 70% voting rights through a dual-class share structure.
Katharina’s spent most of her money on a dream life of superyacht escapades, champagne-fueled getaways, as well as living the life most can only live through their dreams and aspirations. She does split that time with being a student and working on the family-owned firm, taking part mostly in the company’s philanthropist arm as a way to give back to the community.
Gustave Magnar Witzoe
Source: Fish farming
Net Worth: $2.3 Billion
Gustav Witzoe owns almost half of Salmar ASA, which is famous for its salmon produce. This was a gift to him in 2013 by the older Witzoe, his father, who managed the company in 1991. Salmar has been famous for fish farming in Norway, creating ways to refine the product and ship out quality cuts.
With his charming looks, the heir to the Salmar ASA fortune finds time in dabbling in other pursuits, like modeling. He isn’t a stranger to diversifying his portfolio, though. He’s made ample use of his money to develop more sources of income, like tech investments and stakes in real estate.
Source: Auto parts
Net Worth: $1 Billion
Lisa Draexlmaier is the owner of Fritz Draexlmaier Holding GmbH, a local auto parts company.
The Draxlmaier Group has operated globally with its headquarters situated in Vilsbiburg. Lisa s responsible for honoring deals with companies such as Audi, BMW, Cadillac, Maserati, and Mercedes-Benz, to name a few.
It has also managed to diversify into other sectors and niches. It is also a manufacturer of electronic components, consoles, door, and instrument panels, as well as exclusive interiors for flagship models of other vehicles.
Source: Payment software
Net Worth: $3.2 Billion
The Irish-born Collison is co-founder and CEO of Stripe, which is an online payment solution for e-commerce and Internet businesses.
He founded the company with his brother, Patrick, and is a self-made billionaire. He also co-founded another company, Shuppa, with his brother. It was later merged with Auctomatic, funded by Y Combinator, and was moved to Silicon Valley.
In 2019, Stripe, under his leadership, further managed to raise $250 million during a funding round. This has a valuation of $35 billion. The brothers found their inspiration for the company while at college in Cambridge at MIT. Their first payment also came during a vacation in South America.
There are a lot of self-made billionaires in the world. These people’s feats are no small events, but they managed to create them through perseverance and a genuine focus and vision. Perhaps, you too could aspire to create your own story, just as these young billionaires did.