How many Millionaires In The World Under 30 Years Of Age? Research done by Capgemini and RBC Wealth Management shows that there are approximately 11.3 million millionaires. This is a new record and a nice increase from just a year ago when it was estimated that there were about 10 million millionaires in the world.
There are many people in this world who are millionaires, but here’s a statistic that will surprise you. Do you know how many millionaires under the age of 30 there are in this world? The answer may shock you…
Kevin David Lehmann
AGE: 18
NET WORTH: $3.3 Billion
SOURCE OF WEALTH: DRUGSTORES
COUNTRY: GERMANY
Lehmann is now the world’s youngest billionaire after he officially inherited his father’s 50% stake in German drugstore chain drogerie markt.
#2 | Wang Zelong
AGE: 24
NET WORTH: $1.5 BILLION
SOURCE OF WEALTH: PIGMENT PRODUCTION
COUNTRY: CHINA
Wang inherited a stake worth more than $1.3 billion in CNNC Hua Yuan Titanium Dioxide Co., which trades on the Shenzhen stock exchange. The company produces titanium dioxide pigment, a white pigment that can be used in coatings, plastics, ink and other materials.
#3 | Alexandra Andresen
AGE: 24
NET WORTH: $1.4 BILLION
SOURCE OF WEALTH: INVESTMENT FIRM
COUNTRY: NORWAY
#4 | Katharina Andresen
AGE: 25
NET WORTH: $1.4 BILLION
SOURCE OF WEALTH: INVESTMENT FIRM
RESIDENCE: NORWAY
The Andresen sisters each inherited 42% of Ferd, a Bærum, Norway-based investment company that reels in about $2 billion in annual revenue. Their father, Johan, still runs the business.
#5 | Austin Russell
AGE: 26
NET WORTH: $2.4 BILLION
SOURCE OF WEALTH: AUTONOMOUS CAR TECH
COUNTRY: UNITED STATES
An optics prodigy, Russell dropped out of Stanford in 2012 after receiving a $100,000 Thiel Fellowship to start Luminar Technologies, which makes sensors and other tech for autonomous vehicles. Its sensors now help self-driving cars of such customers as Volvo and Toyota by bouncing laser beams off nearby objects and vehicles’ surroundings. Luminar went public through a SPAC merger in December. Russell owns about a third of the company.
#6 | Gustav Magnar Witzoe
AGE: 27
NET WORTH: $4.4 BILLION
SOURCE OF WEALTH: FISH FARMING
COUNTRY: NORWAY
Witzoe owns nearly half of SalMar ASA, the Norwegian salmon producer his father founded in 1991. Witzoe’s fortune nearly doubled in the past year thanks to SalMar’s strong market performance. His stake in the firm was gifted by his father in 2013.
#7 | Andy Fang
AGE: 28
NET WORTH: $2 BILLION
SOURCE OF WEALTH: DOORDASH
COUNTRY: UNITED STATES
#8 | Stanley Tang
AGE: 28
NET WORTH: $2 BILLION
SOURCE OF WEALTH: DOORDASH
COUNTRY: UNITED STATES
DoorDash, the food delivery app Fang and Tang cofounded in 2013, became more prevalent (and valuable) than ever during the pandemic as restaurants and customers pivoted to delivery. It went public on the New York Stock Exchange in December. Fang previously served as the company’s chief technology officer, while Tang was the chief product officer
#9 | Sam Bankman-Fried
AGE: 29
NET WORTH: $8.7 BILLION
SOURCE OF WEALTH: CRYPTO TRADING
COUNTRY: UNITED STATES
Bankman-Fried built his massive crypto fortune at an astonishing speed, having launched both trading firm Alameda Research, which manages $2.5 billion in assets, and crypto derivative trading platform FTX. Bankman-Fried embraces a philosophy called Effective Altruism: His goal is to make as much money as he can so that he can give away as much as possible. In 2020, he gave $5 million to a pro-Biden super PAC, making him one of the president’s biggest donors.
#10 | Jonathan Kwok
AGE: 29
NET WORTH: $2.4 BILLION
SOURCE OF WEALTH: REAL ESTATE
COUNTRY/TERRITORY: HONG KONG
Jonathan and his older brother, Geoffrey, 35, each inherited from their late father Walter Kwok (d. 2018) a portion of his stake in Hong Kong property developer Sun Hung Kai Properties. Walter was ousted as chairman of Sun Hung Kai in 2008 as the result of a feud with his brothers Thomas and Raymond Kwok. He then started property developer Empire Group Holdings, which Jonathan and Geoffrey now run.
Alexandra and katharina Andresen ($1.3 billion)
The Andresen sisters, aged 24 and 25 each inherited 42% of Ferd, a Bærum, Norway-based investment company that reels in about $2 billion in annual revenue. Their father, Johan, still runs the business and controls 70% of the votes via a dual-class share structure. The Oslo-based investment company Ferd, has private equity holdings, a real estate portfolio, and participates in the Nordic stock exchange. The sisters are worth $1.3 billion each.
Wang Zelong ($1.5 billion)
Wang Zelong, aged 24, inherited a stake worth more than $1.3 billion in CNNC Hua Yuan Titanium Dioxide Co., a chemical company that trades on the Shenzhen stock exchange. The company produces titanium dioxide pigment, a white pigment that can be used in coatings, plastics, ink, and other materials. He also has stakes in Lomon Billions Group. He is worth $1.5 billion.
Stanley Tang & Andy Fang ($2.2 billion)
DoorDash co-founders Andy Fang and Stanley Tang, aged 28 each own 4.2% of the company with a net worth of $2.2 billion. DoorDash is a technology company that offers on-demand delivery services for grocery and meals through partnerships with restaurants and grocery stores on its app. Door Dash’s last funding round before going public raised $400 million at a $16 billion valuation. The company went public on the New York Stock Exchange at a $72 billion valuation.
Millionaire Statistics
Nearly two-thirds of American millionaires graduated from public universities.
Approximately 62% of the USA’s richest people graduated from state schools or public universities. Only 8% said they went to prestigious private schools. Still, getting a college degree seems vital as 88% of American millionaires had it. In comparison, only 33% of the general US population graduated from college. These millionaire statistics reveal that education significantly increases people’s chances of hitting the $1-million mark.
(Dave Ramsey)
As of February 2021, Jeff Bezos and Elon Musk are the wealthiest Americans.
Amazon’s executive chairman is worth about $189.3 billion, or about $7 billion more than the runner-up, Tesla and SpaceX’s Elon Musk whose net worth is estimated at $182.2 billion. Bill Gates meanwhile ranks third with $123.7 billion. The millionaire demographics show that there was only one woman among the top 10 richest Americans. Alice Walton, Walmart’s heiress, scored the 10th position with her net worth of $65.1 billion.
(Statista)
White and Asian Americans have the highest chances of becoming a millionaire.
US millionaires by race data shows that Hispanics and African Americans, in contrast, have the lowest chances of joining the millionaire club. The latest millionaire statistics for the US show that the chances of Asian Americans with a high school degree to become millionaires are 6%. White, Hispanic, and African Americans with the same degree have chances of respective 5%, 2%, and 1%.
With a Master’s Degree, white Americans have the highest chances of 38% earning $1 million. Asian, Hispanic, and African Americans have chances to become a millionaire of 27%, 11%, and 6%, respectively.
(Financial Samurai)
94% of millionaires spend less than they make.
How much you spend is more important than how much you make. At least when it comes to hitting the $1-million threshold. Besides living on less money than they make, the richest people also spend about $200 on restaurants. Moreover, approximately 93% of people valued at $1 million use coupons when shopping.
(Dave Ramsey)
Only 15% of US millionaires hold senior leadership roles.
About 93% of individuals with a net worth of at least $1 million said they made their fortune by working hard. Having a big salary wasn’t the biggest factor in entering the millionaires club, in their opinion. American millionaire statistics confirm that the top 5 careers for millionaires are engineer, management, attorney, teacher, and accountant. The average amount of time for earning $1 million was 28 years.
(Dave Ramsey)
Most millionaires are married, have one child, and own a home.
Are you interested in the profile of the average millionaire? Let’s see where they stand:
- Married – 76%
- Number of children – 1
- Owns a business – 22%
- Owns a home – 94%
- Has a degree – 42%
- Number of properties – 2.4
- Average real estate portfolio – $919,000
The average age of millionaires in 2020 was 62 years.
(ColdwellBankerLuxury)
Robert Smith is the wealthiest African American in the United States.
While African Americans have fewer millionaires by race, that doesn’t mean that there aren’t successful businessmen and businesswomen among them. The latest Black millionaire statistics place Robert Smith and his $6 billion on top of the list of wealthiest African Americans. He is followed by David Steward ($3.7bn), Oprah Winfrey ($2.7bn), Kanye West ($1.8 billion), and Michael Jordan ($1.6bn).
(USA Today)
Conclusion
Millions of millionaires exist in the United States alone and millions more around the world. You may often wonder what kind of lifestyles these people lead. Here we outline why we believe that fewer than 1% of these individuals could actually be considered wealthy as defined as having accumulated enough capital as to provide enough income for themselves and their family to live without involvement in physical labor.