The Youngest Billionaire Is No Longer Kylie Jenner - It's an 18-Year-Old From Germany
As of October 2020, Jenner's net worth was listed at $700 million.
An 18-year-old from Germany has displaced model and television personality Kylie Jenner as this year's youngest billionaire, Forbes reports. Jenner, 23, was the youngest billionaire on last year's list, but did not make the cut this year. In 2019, she was controversially named the youngest self-made billionaire in 2019 following the success of Jenner's brand Kylie Cosmetics, but as of October 2020, Forbes listed her net worth at $700 million.
Little is known about Kevin David Lehmann, who inherited his father's 50% stake in German drugstore chain dm-drogerie markt. According to Forbes, the stake's value comes out to about $3.3 billion. The second-youngest billionaire is 24-year-old Chinese national Wang Zelong, who inherited a $1.5 billion stake in pigment production business CNNC Hua Yuan Titanium Dioxide Co.
In fact, among those who were listed as billionaires and are in their 20s, just four were self-made. They include 26-year-old Austin Russell (a Stanford dropout who founded laser lidar startup Luminar technologies) and the 28-year-old DoorDash founders Stanley Tang and Andy Fang. Sam Bankman-Fried, 29, rounds out the exclusive list, making his $8.7 billion fortune as the founder of trading firm Alameda Research and crypto derivative trading platform FTX.
Justin Chan is a news writer at Entrepreneur.com. Previously, he was a trending news editor at Verizon Media, where he covered entrepreneurship, lifestyle, pop culture, and tech. He was also an assistant web editor at Architectural Record, where he wrote on architecture, travel, and design. Chan has additionally written for Forbes, Reader's Digest, Time Out New York, HuffPost, Complex, and Mic. He is a 2013 graduate of Columbia Journalism School, where he studied magazine journalism. Follow him on Twitter at @jchan1109.