News hotlines: 08111813019, 08025868561
Email: email@example.com, firstname.lastname@example.org
There are 12 billionaires under the age of 30 on Forbes’ 2022 list of the World’s Billionaires. According to a MoneyTransfers analysis, the U.S accounts for 42% of these 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 about their path to becoming the youngest billionaires in history.”
The young self-made billionaires
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 in 2019. He is the richest among the world’s twelve billionaires under the age of 30.
Ryan Breslow (27), 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. Then there’s Austin Russell, whose wealth stands at $1.6B. He dropped out of Stanford in 2012 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.
Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.