A 19-year-old Norwegian horse rider, Alexandra Andresen, has been named by Forbes magazine as the world’s youngest billionaire after amassing a $1.2billion fortune.
Andresen inherited her stake in her family’s investment company, Ferd Holding, worth $1.2 billion today when her father, Johan H. Andresen transferred 80% of his shares to his daughters in 2007.
Her sister Katharina, 20, a college student is the second youngest billionaire. The family company was started as a tobacco company in 1849 by Andresen’s great-great-great-grandfather, though family members invested wisely and the tobacco side of the business was sold off for $500million in 2005. It is said to be Norway’s biggest cigarette producer.
It is the first time the teenager and her sister Katharina, have appeared on the list and they are ranked as the 1,475th richest people in the world.
But despite her incredible personal wealth, Miss Andresen appears to be more at home with her horses and lives in Germany where she rides professionally.
The teenage billionaire is an award-winning competitor in international dressage competitions and is currently in training for the 2020 Olympics in Tokyo. She has won several accolades on her horse Belamour at the European Junior Riders Championships.
The 2016 FORBES Billionaires List records that 66 members are under the age of 40, more than triple the number four years ago and a seven-fold increase since 2010.
Only 20% of the billionaires under 40 are female. Twelve of these 14 female billionaires inherited their fortunes in Europe, and just one of them (Elizabeth Holmes, 32) built her own fortune. Elizabeth Holmes founded her blood-testing company Theranos at the age of 19.
Lukas Walton, is ranked the second richest under 40, he inherited his $10.4 billion fortune from his father, John Walton. Lukas Walton joins the wealth rankings for the first time this year after previously sealed court documents revealed that he received a third of his father’s Walmart fortune.
The third youngest billionaire is Gustav Magnar Witzoe, 22, another Norwegian.
Majority of these youthful billionaires have created their own fortunes through innovation and imagination with a hefty dose of some good luck.
Of the 36 who made their own way, more than three-quarters got rich in the tech sector, including 25 billionaires whose fortunes come from unicorn startups valued at more than $1 billion.
The youngest of these self-made tech mavens is 25-year-old Snapchat co-founder Evan Spiegel, who first appeared on the Billionaires List last year with a net worth of $1.5 billion.
His co-founder and Stanford friend, 27-year-old Bobby Murphy is the next youngest self-made billionaire with a net worth of $1.8 billion.
Facebook founder and CEO, Mark Zuckerberg who was the world’s youngest billionaire when he debuted on the list in March 2008 at the age of 23 with a net worth of $1.5 billion is also the sixth richest person on the planet with a net worth of $44.6 billion.
Again, Microsoft founder, Bill Gates topped the list of the world’s richest billionaires for the 17th time in 22 years.
Though the 60-year-old Microsoft head is $4.2billion poorer than 2015, his net worth of $75billion has put him in the top spot on Forbes’ World Billionaires list for the third year in a row.
In second place was Zara owner Amancio Ortego, while business magnate Warren Buffet came in third.
In fourth was Mexico’s Carlos Slim Helu, who was once named top of the list.
Others who made the top ten include Amazon’s Jeff Bezos at fifth on the list, Mark Zuckerberg of Facebook at sixth, Oracle’s Larry Ellison at seventh, Michael Bloomberg at eighth, and tied for ninth are David and Charles Koch.