For the first time in over a decade, none of the individuals on Forbes’ list of billionaires under 30 have earned their massive wealth through their own efforts. According to the latest report, 18 out of the 25 youngest billionaires inherited their fortunes, marking a significant shift in the source of wealth among the younger generation.
Leading the pack is 19-year-old Livia Voigt from Brazil, who holds a minority stake in her late grandfather’s company, WEG, with a net worth of $1.1 billion. Alongside her is her older sister, Dora, aged 26, both making their mark on the list of the world’s wealthiest young individuals.
The trend of inherited wealth is not limited to the Voigt sisters, as evidenced by the inclusion of the Mistry brothers from Ireland. Zahan and Firoz Mistry, aged 25 and 27 respectively, are estimated to be worth a staggering $4.9 billion each, inheriting their wealth from their late father, Cyrus Mistry.
Similarly, the Del Vecchio brothers from Italy, Clemente, Leonardo Maria, and Luca, have also inherited substantial wealth following the passing of their father, Leonardo Del Vecchio. With net worths ranging from $4.7 billion to $4.9 billion, the brothers have secured their positions among the world’s youngest billionaires.
The rise of inherited wealth among the younger generation is seen as the beginning of a long-anticipated generational wealth transfer, with trillions expected to change hands as affluent individuals pass away and leave their fortunes to their descendants. This shift in wealth dynamics highlights the changing landscape of billionaire wealth and the impact of generational wealth on the global economy.