Billionaires
From entrepreneurs to heiresses, there are nine global billionaires under the age of 30. Their cumulative fortune stands at $22.4 billion. Here’s a look at the world’s youngest billionaires. Net worths are as of August 10, 2021. Kevin David Lehmann Age: 18 Net worth: $3.6 billion Source of wealth: Drugstores Country: Germany
Austin Russell
The world’s only teen billionaire controls 50% of German drugstore chain dm (drogerie markt). The company was established in 1973 by Goetz Werner and the following year Lehmann’s father Guenther, then running his family’s Pfannkuch grocery chain, bought a 50% stake. Guenther transferred ownership of his dm stake to Lehmann when he was 14, but it remained under a trusteeship until his 18th birthday, which fell in September 2020. Neither father nor son have been operationally involved in dm. In Europe, the chain has over 3,700 locations and recorded $13.6 billion in sales in the 2019-2020 financial year.
Wang Zelong Age: 25 Net worth: $2.9 billion Source of wealth: Chemicals Country: China
BY JAMILA GANDHI; MICHAEL PRINCE FOR FORBES
LEADERBOARD
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World’s Billionaires Under 30
Zelong inherited stakes in CNNC Hua Yuan Titanium Dioxide and Lomon Billions Group. The companies develop titanium dioxide pigment in China, which can be used in ink, plastics, coatings, and other materials. F O R B E S M I D D L E E A S T.C O M
SEPTEMBER 2021
