42% of all billionaires under 30 are in the US
- Published: 23rd June 2022, 18:15
The world’s youngest billionaires are shaping the future of investing and entrepreneurship. These stars are getting younger and younger, being under 30 years. The young moguls have already built up a fortune worth billions, making them some of the world’s richest people.
There are 12 billionaires under the age of 30 on Forbes’ 2022 list of the World’s Billionaires – with the youngest being just 19 years old. Their net worths were calculated using stock prices and currency exchange rates from March 11, 2022. According to a MoneyTransfers analysis, the U.S accounts for 42% of the global billionaires under 30 years.
MoneyTransfers CEO Jonathan Merry says, “The five young billionaires in the US have a combined wealth of $11.8B. They are one of a kind, with unique stories to tell about their path to becoming the youngest billionaires in history.”
The young self-made billionaires
The youngest billionaires in the US are making their mark on the financial world, and they’re not afraid to admit that they’re just getting started. From investing in startups to creating their own companies, these young self-made billionaires are setting the stage for a new generation of investors and entrepreneurs.
Gary Wang (28) is worth $5.9B and made it onto this year’s list thanks to his cryptocurrency tech company FTX, which he co-founded with fellow billionaire Sam Bankman-Fried (net worth $20.5B) in 2019. Gary is the richest among the world’s twelve billionaires under 30.
Ryan Breslow, who has a net worth of $2.0B, is a Stanford dropout. He founded the payment-software company Bolt in 2014 when he was a college sophomore. This is the first time the 27-year-old Miami native has been named among under 30 billionaires.
Moreover, there’s Austin Russell, whose wealth stands at $1.6B. He dropped out of Stanford in 2012 after getting a $100,000 fellowship from PayPal magnate Peter Thiel to pursue his startup Luminar.
Finally, there’s Stanley Tang (28), who has $1.2B, and Andy Fang (29), whose net worth is $1.1B. The pair graduated from the University of Stanford in 2014 and founded DoorDash in 2013.
US billionaires in 2050
According to the U.S. Census Bureau, there were 102 million people in the United States in 1916. At that time, John D. Rockefeller was the only billionaire in America. As of 2020, there are 331 million Americans, and analysts report that 724 billionaires live here today. That’s one billion for every 457,200 residents.
With the number of billionaires in America increasing at its current rate, it is estimated that there will be over 4,800 billionaires by 2050. That works out to one billionaire for every 91,000 people of the projected 439 million total U.S. population.