The Youngest Billionaire In The World Is A Teenager

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DM - drogerie markt
Pedestrians pass by a DM Drogerie Store on January 8, 2018 in Berlin, Germany. According to government statisticians, nominal revenue grew compared to the previous year and growing online sales have enabled German retailers to achieve record growth in 2017.

The youngest billionaire in the world right now is German heir Kevin David Lehmann, who is just 18 years old.

The teenager is worth a staggering $3.3 billion after inheriting stakes in German drugstore chain drogerie markt from his father, Guenther Lehmann, according to Forbes' 35th annual billionaires list.

His father transferred his 50% stake to Lehmann when he was 14, but it remained under trusteeship until he turned 18 in September last year, the outlet said.

Guenther and his family are not actively involved with the operations of drogerie markt, and little is known about the Lehmann family, Forbes noted.

Drogerie markt, founded in 1973 by Goetz Werner, is Germany’s leading drugstore chain. The company employs more than 41,000 across more than 2,000 branches throughout the country, according to its website

Guenther invested in drogerie markt in 1974 when he was still running his family's Pfannkuch grocery chain. Werner opened the first shop in Karlsruhe, Germany, in 1973.

The drugstore chain currently rakes in more than $12 billion in annual revenue, Forbes reported.

Lehmann has "no discernible presence" on social media, Insider noted. This is a sharp contrast to his predecessor, Kylie Jenner, who was named the youngest self-made billionaire by Forbes in 2019 at the age of 21.

After Jenner was removed from Forbes' list, the youngest self-made billionaire is now 26-year-old Austin Russell, who dropped out of Stanford in 2012 to found Luminar Technologies. The laser lidar (or light, detection and ranging) startup makes sensors and other tech for autonomous vehicles and has customers in companies such as Volvo and Toyota. He is currently worth $2.4 billion after Luminar went public in December 2020.

According to Forbes, the second youngest billionaire in the world is 24-year-old Wang Zelong of China. He is worth an estimated $1.5 billion after inheriting a stake worth more than $1.3 billion in CNNC Hua Yuan Titanium Dioxide Co., a company that produces titanium dioxide pigment. The white pigment can be used in coatings, plastics, ink and other materials.

Third and fourth on Forbes' list are Norwegian siblings Alexandra and Katharina Andresen, aged 24 and 25, respectively, who are each worth $1.4 billion. They each inherited from their father 42% of Ferd, a Norway-based investment company that brings in annual revenue of about $2 billion.


DM - drogerie markt germany
General view of the dm Store at Kurfürstendamm on June 10, 2020 in Berlin, Germany.
Photo: Jeremy Moeller/Getty Images

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