Many of them inherited their fortunes from their wealthy parents, although others made their own way as entrepreneurs. Together, this exclusive group represents just 0.6% of the world's 2,640 billionaires, reported Forbes.
Among the 15, only four are self-made entrepreneurs, including figures like the founders of Gymshark and Oculus.
The rest of the 15 individuals inherited their fortunes from their wealthy parents, including most of the younger people on the list.
Here are the richest young people ranked by age according to Forbes, and what they did to make their billions.
Ben Francis - $1.2 billion
Ben Francis, 30, has a net worth of $1.2 billion and unlike most of the people on the list, he can proudly claim to have made his fortune all on his own.
The U.K. citizen founded the activewear brand Gymshark in 2012 at the age of 19 while he was working at Pizza Hut. He sewed the first Gymshark pieces together in his parents' garage and used guerilla marketing to build his brand. Since then the business has exploded, making Francis a young billionaire.
Palmer Luckey - $1.7 billion
Palmer Luckey is another self-made 30-year-old billionaire on Forbes’ list with a net worth of $1.7 billion.
The U.S. citizen founded the VR headset maker Oculus, which he sold to Facebook for $2 billion in 2014, and then went on to build his own successful defence tech business, Anduril.
Anduril, which aims to build drones and surveillance products for the U.S. Department of Defense, raised $1.48 billion at an $8.48 billion valuation in December.
Mark Mateschitz - $34.7 billion
The richest young billionaire on the list is Austrian RedBull heir Mark Mateschitz, 30, who inherited a fortune worth an estimated $34.7 billion from his father, Dietrich Mateschitz.
Not only is Mateschitz the richest on this specific list, but he is the richest of all 150 newcomers to the 2023 billionaires list, according to Forbes. The other 14 young billionaires have a combined net worth of $29.3 billion.
Dietrich Mateschitz died in October 2022 and Mark was his only son.
Michal Strnad - $2 billion
Czech billionaire Michal Strnad, 30, inherited his father's defence business, Czechoslovak Group, in 2018. CSG is one of the biggest suppliers of ammunition, ground equipment and artillery for the Ukrainian army, Reuters reports.
Gustav Magnar Witzoe - $2.7 billion
Gustav Magnar Witzoe is a 29-year-old Norwegian citizen who owns almost half of SalMar, one of the world's largest fish farming companies, which he inherited from his father, Gustav Witzoe.
His net worth is $2.7 billion, according to Forbes.
Ryan Breslow - $1.1 billion
Ryan Breslow, 28, dropped out of Stanford University and went on to become the founder of three startups: Bolt, Eco and Love.
The U.S. citizen’s net worth is $1.1 billion.
Leonardo Maria Del Vecchio - $3.5 billion
Leonardo Maria Del Vecchio, 27, is worth $3.5 billion, and it’s all thanks to his father, Leonardo Del Vecchio, Italy’s former second richest person, who left behind a fat inheritance for his family when he died in June 2022.
That fortune is rooted in EssilorLuxottica, a major producer of glasses including Ray-Bans. Leonardo shares the fortune with his mom and several half-siblings, some of whom you'll find later on this list.
Katharina Andresen - $1.5 billion
Katharina Andresen, a 27-year-old citizen of Norway, comes from a wealthy family that owned Ferd, an investment company run by her father. She has a $1.5 billion net worth, just because of the family she was born into.
She has a sister, Alexandra, who shares Ferd with her and also cracked this list.
Wang Zelong - $1.4 billion
China's Wang Zelong, 26, is worth $1.4 billion according to Forbes. He inherited much of his wealth according to the South China Morning Post, and he holds stakes in many chemical companies including CNNC Hua Yuan Titanium Dioxide Co.
Alexandra Andresen - $1.5 billion
Norway's 26-year-old Alexandra Andresen has a $1.5 billion net worth, just like her older sister who’s also on the list, Katharina Andresen because of their family-run investment company, Ferd.
Luca Del Vecchio - $3.5 billion
Luca Del Vecchio is the older son of Leonardo Del Vecchio and Sabrina Grossi, former board member and former head of investor relations of the luxury eyewear brand EssilorLuxottica.
At the young age of 21 years old, Vecchio already has a net worth of $3.5 billion, matching his brother Leonardo who is also on this list.
Kim Jung-min - $1.7 billion
Kim Jung-min inherited a third of her family’s assets when her father, Kim Jung-ju, died in February of 2022, leaving her with a net worth of $1.7 billion at the age of 21, Forbes reports. Her family is known for owning Nexon, an online gaming company in South Korea.
Kevin David Lehmann - $2.3 billion
Kevin David Lehmann was only 14 years old when he inherited 50% of the popular German drugstore chain dm (drogerie Markt) from his father, according to Forbes. He only got access to it at 18, propelling him into the list of billionaires. He is now 20 years old and has a net worth of $2.3 billion, although he is no longer the world's youngest billionaire.
Kim Jung-youn - $1.7 billion
Kim Jung-youn, 19, is the younger sister of Kim Jung-min and another heir to the Nexon fortune in Korea. She has a net worth of $1.7 billion because of their family inherence.
Clemente Del Vecchio - $3.5 billion
The youngest person on the list is Clemente Del Vecchio, 18, the younger brother of Luca and Leonardo Maria Del Vecchio, who are also on the list. Clemente also has a $3.5-billion net worth thanks to his EssilorLuxottica inheritance.
It's important to note that while these young billionaires have accumulated a great deal of wealth, the list changes every year and fluctuates every day based on market changes.
Still, if there's one lesson to learn about becoming a young billionaire, it obviously helps to be born into it!
