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10 teenage millionaires and their success stories

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Financial security is important to everyone: adults, kids, and teens alike. However, some people go above and beyond to reach millionaire status. A millionaire is someone who has a net worth of at least $1 million. A teenage millionaire is someone who achieves that level of wealth before they turn 20.

So, how do you become rich as a teenager? We don’t have the magic formula — but let’s look at 10 of the youngest self made millionaires and their stories. Because who better to learn from than the people who already made it happen?

Let’s dive in!

10 teenage millionaires

If you’ve ever wondered how to get rich as a teenager… you’re not alone! And although it’s rare, it is possible.

Everyone’s story is different. Likewise, these 10 young millionaires all achieved success slightly differently — making each of them a great example!

1. Mikaila Ulmer

Social entrepreneur Mikaila Ulmer started making lemonade at four years old using her great-grandmother’s recipe. Several years later, her parents encouraged her to enter a few local business competitions… and her lemonade company was born!

After being stung by bees as a child and learning about their importance in nature, Mikaila decided to make saving the bees a central part of her business. That’s why it’s named Me & The Bees!

She was featured on Shark Tank and landed an $11 million deal with Whole Foods. Now, she has an estimated net worth of $1 to $5 million. You can find her lemonade at select Whole Foods, The Fresh Market, and H-E-B locations — and you can buy her book, Bee Fearless, online!

2. Donald Dougher

You won’t find many people with as much social media success as Donald Dougher, AKA Donlad, on YouTube. He’s gained an impressive 584K subscribers by making attention-grabbing prank videos and vlogs. His estimated net worth? Around $1 million.

So, how does he make money, exactly? By partnering with brands to make sponsored content and from YouTube itself. YouTube pays creators in a few ways, but the most common is through the YouTube Partner Program. Once accepted, creators are paid for ad views. TDLR; More video views = more ad views = more $.

3. Bella Ramsey

Bella Ramsey — a breakout star from Game Of Thrones and The Last Of Us — made their name acting. They come from Nottingham, England, and began performing at 4 years old.

After years of performing arts classes, Bella scored their first job on Game Of Thrones at age 13. Since then, they’ve continued to grow their fame — and, therefore, wealth — as an actor. They currently have an estimated net worth of $2 million. We’ll definitely continue seeing Bella on our screens!

4. McKenna Grace

McKenna Grace is another self-made millionaire you may recognize. She’s an actress who has been a star since her early childhood. She is from Grapevine, Texas, and was born to two parents in the medical field.

She always knew she wanted to be an actress, and started working toward that dream at age 5! In 2013, she got her first break on Disney Channel; the rest is history. Now, at 17, she has an estimated net worth of $2 million. Proof that persistence, even from a very young age, pays off!

5. Alina Morse

This young entrepreneur has made their fortune in a sweet way. That’s right: candy!

Alina Morse is the CEO of Zolli Candy. As a child, Alina’s father wouldn’t let her have candy because it could damage her teeth. So what did Alina do? Got to work developing sugar-free candy in the fourth grade.

Today, her company is worth $6 million, and she has an estimated net worth of $2 million. And dentists actually endorse her candy company!

6. Charli D'Amelio

Charli rose to popularity on TikTok as a dancer and social media personality. If you’re not one of her 151 million followers on TikTok, you’ve likely heard of her Hulu series, The D'Amelio Show.

She has made a whopping $17.5 million from brand deals, her TV show, and her clothing brand, Social Tourist. As of 2023, her estimated net worth is $20 million. Many millionaires, regardless of age, have multiple income streams. Charli is no exception!

7. Cory Nieves

Cory began selling cookies at a young age to contribute to his family’s finances and help his mom afford a car. After his mother’s encouragement to continue selling his cookies to save for college — Mr. Cory’s Cookies was born! In partnership with his mom, Cory continues to grow his cookie company while attending Penn State University. His estimated net worth is $1 million.

Over the years, Mr. Cory’s Cookies has collaborated with brands including Macy’s, Aetna, Whole Foods, Pottery Barn, and more! They also make substantial donations to nonprofits.

8. Moziah “Mo” Bridges

Mo Bridges started his business by doing what many entrepreneurs do. Filling a gap in the market. The gap for Mo was a lack of bowties he loved, which also suited his style. So, with the help of his grandma, he learned to make bowties at age 9 — and so began Mo’s Bows.

Mo’s Bows has been featured on Shark Tank, Good Morning America, O: The Oprah Magazine, and many more outlets. He currently has an estimated net worth of $2 million. Talk about an impressive resume for a teen!

9. Evan Moana

In today’s digital age, you can start a successful business from home with your smartphone. That’s exactly what Evan of EvanTubeHD has done! EvanTubeHD is a successful YouTube channel — with over 7 million subscribers — that publishes toy reviews and entertaining challenge videos.

Evan started small, only publishing one video a month. When he had his first viral hit, he and his dad began to take the venture more seriously. Now, his estimated net worth is approximately $1.5 million.

What does Evan do with all of his earnings from advertisers? He puts it in savings and investment accounts. That’s what we call a win!

10. Pierce Woodward

Pierce Woodward’s story started by posting photos on Instagram. His following started to grow, and his career took off once he started posting on TikTok.

Pierce has always been financially minded and aimed to save $100,000 before turning 18. So, he decided to use his following to pursue that goal. He started making rings out of vintage spoons and selling them — eventually forming an accessories brand, Brand Pierre. As of 17 years old, Pierce was reportedly making $100,000 per month from TikTok and his company. His estimated net worth is $1.4 million.

4 tips for aspiring teenage millionaires

There’s no “right” way to pursue millionaire status. As you can tell from the stories above, everyone has a different path to success.

However, if you’re interested in becoming financially independent at a young age, here are a few strategies to consider.

1. Pursue your passions

Whether you plan to start a business or work for someone else — becoming successful is hard work. You’re more likely to stick with it — and feel fulfilled — if you’re pursuing something that interests you.

Take Mikaila Ulmer of Me & The Bees — she loved running lemonade stands. She turned that passion into a thriving business and became one of the youngest millionaires out there.

Greenlight tip: There are many ways to make money as a teen. Consider working as a tutor, coach, or dog walker.

2. Be willing to commit and pivot

All of the teenage millionaires we reviewed are committed to their work. Whether they run a social media channel, act, or create products — they all seem dedicated to what they do.

What’s just as important as commitment? Being able to change. Several of these founders discussed needing funding, being rejected from Shark Tank, or simply changing their strategy over time. Pivoting to more successful strategies as you learn helps your wealth grow.

3. Don’t be afraid to ask for help

What’s something nearly all 10 of these teenage millionaires have in common? Help. Most, if not all, of them had help and support from family members. Most successful people and entrepreneurs need support — especially when starting out.

Need some help running your booth at the farmer’s market? Have a friend who’s great at graphic design? Don’t be afraid to ask friends and family to step in from time to time.

4. Learn basic financial literacy skills, including investing

The most important step to becoming a teenage millionaire is learning how to handle your money. If you understand finances and how to invest, you can grow your wealth faster and protect your funds.

Greenlight Tip: Download Greenlight’s investing app for kids and teens. Not sure how to invest? Don’t worry. The app comes with educational tools, tips, and easy-to-understand videos.

Financial success is within reach

Regardless of age, financial independence, success, and wealth are all possible. So discover your passions, commit your time, and learn to manage your money well.

Greenlight is here to support you along the way. Want to get started? Play Greenlight’s Level Up Financial Literacy Game to learn all the finance basics you need to know.