Meet 5 of the world’s youngest billionaires
The Forbes List, of five of the world's youngest billionaires, honors big names including stars of showbiz and fashion, like none other than Rihanna, among a few others who have made equally jaw-dropping contributions in retail. 19-year-old Kevin has earned the spotlight as the youngest of them all.
Kevin David Lehmann (19)
Net worth: $2.5B
Kevin David Lehmann, a 19-year-old German citizen, owns 50% of dm (drogerie markt), a leading German drugstore chain earning over $12 billion annual revenue.
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Goetz Werner opened his first shop in Karlsruhe, Germany, in 1973. By now, dm has around 3,700 locations.
Kevin's father, Guenther, made an investment in dm later in 1974.
In 2017, he received ownership of 50% of his father's stake in the company.
Neither father nor son runs the operations of dm personally.
Though his ownership was transferred to him when he was 14, due to the legal rules of adulthood in property ownership, he became the youngest billionaire in the world after he turned 18 in 2021. He has retained that position this year as well.
In 2021, Kevin's net worth was 3.3 billion. This year, it has dropped slightly to 250 billion.
Kevin turned 18 in September 2020, and in April 2021, he officially became the world's youngest billionaire.
Rihanna (34)
Net Worth: $1.7B
Robyn Rihanna Fenty NH aka Rihanna, has been stealing hearts since the release of "Umbrella". What some might not know is that 34-year-old RiRi, who comes from a small town in Barbados, is now a billionaire. That's right, owing it all to the success of her brand new cosmetics line Fenty Beauty.
In 2020, her company that she co-owns with French luxury retailer LVMH has earned $550 million in revenue.
Majority of her fortune is earned through the company.
In February 2021, she raised money at a $1 billion valuation through her 30% stake in the Savage x Fenty lingerie line.
She has been named in the Forbes Lists for '30 Under 30 - Hall of Fame (2022)' and 'Power Women (2021)'
Rihanna is one of the rare self-made individuals – in her music and cosmetics career – to have been honored by the Forbes Lists.
Fun fact: the billionaire dropped out of high school when she was 16.
Throughout her music career, she has broken multiple Guinness World records: "most consecutive years of UK no1 singles," "female artists with most US no1 singles in a year," and "most digital no1 singles in the US".
Lukas Walton (35)
Networth: $16.8B
Lukas Walton, the grandson of Walmart founder Sam Walton, inherited his fortune when his father, John Walton, died in a 2005 plane crash.
The longtime environmental philanthropist, owns stakes in Walmart, First Solar and Arvest Bank. He was a recipient of one-third of his father's estate.
Lukas has earned his Bachelor of Arts/Science from Colorado College and reportedly does not work for Walmart.
Walton, a 35-year-old man from Jackson, Wyoming, US, has made generous donations of about $149 million to his family's foundation.
Tom Persson (37)
Networth: $1.5B
Tom Persson, a third generation Swedish retail billionaire, has made his fortune from H&M, a global retailer renowned for its affordability and style.
The chain, founded in 1947 by his grandfather, Erling Persson, made his father, brother, sister Charlotte Söderström, and aunt Lottie Tham billionaires.
He currently resides in Stockholm and works in movie production.
Sachin Bansal (40)
Networth: $1.3B
Sachin Bansal founded Flipkart as an online seller of books in the year 2007, teaming up with his friend Binny Bansal, who is also a billionaire.
The duo invested $6,000 of their combined savings and began operations straight from their own homes.
Walmart bought a 77% stake in Flipkart for $16 billion, in 2018.
Bansal ended up selling his minority stake for $1 billion.
From Bangalore, India, Bansal studied Bachelor of Science in Engineering from the Indian Institute of Technology.
