Meet the world’s youngest billionaire: Livia Voigt

There are more billionaires in 2024 than ever before, but it’s still rare. Being a young billionaire is rarer still – only 10% are under the age of 50. Today, we dive into the exciting life stories of the youngest top wealth accumulators in the world.

Who are they and how did they amass their fortunes so early?

Livia Voigt: A 19-year-old college student

This 19-year-old Brazilian college student isn't your typical teen. She’s the youngest billionaire in the world.

Young billionaire roots

The story of Livia Voigt’s wealth traces back to WEG, an electrical motor producer. But it's not her company; it's her late grandfather's. As a cofounder, he left a mark in the industry, and a fortune to his descendants. Voigt's position as the largest individual shareholder in the company catapults her financial standing to an estimated $1.1 billion.

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Her wealth journey

The Voigt family's journey demonstrates the power of inheritance, generational wealth, and likely shrewd financial planning to maintain the legacy. Will Livia Voigt follow in her grandfather’s footsteps and eventually run WEG? Currently, she is still pursuing her education and does not yet hold an executive role in the WEG company or board. 

In a world where the richest people are often the oldest, Voigt disrupts that norm. Still a teenager, her story offers a compelling glimpse into the lives of the young and super-rich.

Runner-ups: Youngest billionaires

John Collison

John Collison, 33, the co-founder of Stripe, the world-renowned payments company, is one of the youngest self-made billionaires in the world. Born in Ireland, Collison demonstrated his entrepreneurial spirit at a young age when he and his brother Patrick sold their first company in 2007 for $5 million. Several years later, they built Stripe, now valued at $65 billion and used by millions of businesses worldwide, making Collison one of the youngest and most successful entrepreneurs of our time.

Ben Francis

Ben Francis, the founder of Gymshark, the high-performance fitness apparel brand, is another young billionaire who has transformed his passion into a highly successful business. Francis started Gymshark in his parents' garage when he was a 19-year-old college student and pizza delivery guy. 

Evan Spiegel

Evan Spiegel, the co-founder and CEO of Snap Inc., the company behind the popular social media platform Snapchat, is a shining example of a young entrepreneur who challenged the status quo. After dropping out of Stanford to launch Snapchat with his frat brothers, Spiegel became a billionaire by age 25.

Cultivating entrepreneurial spirit in kids

For parents looking to support their children’s entrepreneurial interests, here are practical tips and advice to pave the way for the future leaders of innovation:

Encourage curiosity and creativity

Foster an environment where asking questions and thinking outside the box is celebrated. Provide resources and activities that stimulate creativity. For young kids, it might be things like building sets, art supplies, and science kits. For older kids and teens, gamify their learning with tools like Level Up, where they can mix educational challenges with financial literacy.

Teach resilience through failure

Help your child understand that failure is not the end but a step toward learning and growth. Foster a growth mindset. Share stories of successful people who faced setbacks and how they overcame them, including the youngest billionaire’s tale.

Promote leadership skills

Encourage your child to take on leadership roles, whether in school projects, sports teams, or community service. Leadership skills such as decision-making, team management, and effective communication are crucial for any entrepreneur.

Support their passions

Identify your child’s interests and provide opportunities for them to explore those passions further. Whether it’s coding classes, business camps, or art workshops, nurturing their interests can lead to innovative ideas and ventures.

Balance is key

While nurturing an entrepreneurial spirit is important, ensuring your child has a balanced life is equally crucial. Encourage regular physical activity, social interactions, and downtime, emphasizing the importance of mental health and well-being.

Teach financial literacy

Understanding money management, investing fundamentals, the value of hard work, and the meaning of financial freedom is foundational for any budding entrepreneur. Start with basic budgeting and saving exercises, gradually introducing more complex concepts as they grow.

The story of the world’s youngest billionaires can shed light on the kind of support, guidance, and environment that fosters such remarkable success. By encouraging creativity, resilience, leadership, and balance, parents can play a pivotal role in preparing their kids for the challenges and triumphs of entrepreneurship and financial health.

Visit the Greenlight Learning Center for helpful resources on all things family, finance, and fun.

This blog post is provided "as is" and should not be relied upon as a substitute for professional advice. Some content in this post may have been created using artificial intelligence; however, every blog post is reviewed by at least two human editors.