00:00Building a fortune usually takes years, even a lifetime,
00:04but the numbers speak for themselves.
00:06Nearly three quarters of the world's billionaires
00:08are between the ages of 50 and 79.
00:11Just 12% are under 50.
00:14The rarest of all are those who manage
00:15to achieve billionaire status by the age of 30.
00:19This year, there are just 21 of those flush youngsters
00:22on the Forbes world's billionaires list.
00:24Unsurprisingly, all but two of them inherited their wealth.
00:28That goes for the world's youngest billionaire,
00:30Johannes von Baumbach, age 19,
00:32who is heir to Germany's Boehringer Ingelheim,
00:35the world's largest privately owned pharmaceutical company.
00:39He and his three siblings, ages 23, 25, and 27,
00:43are each worth an estimated $5.4 billion,
00:46thanks to a stake in the drug maker.
00:49The vast majority of billionaire youths,
00:5115 of them, are from Europe.
00:53Germany has the most on the continent, followed by Italy.
00:57And outside of Europe, there are two sibling pairs
01:00in South Korea and Brazil,
01:02who respectively inherited fortunes
01:03in online gaming and industrial machinery.
01:06There are only two self-made billionaires on the list.
01:09One is Australia's Ed Craven, age 29,
01:12who co-founded Stake.com,
01:15thought to be the world's biggest
01:16crypto-backed online casino,
01:18with $4.7 billion in revenue in 2024.
01:22The other is the United States' Alexander Wang, age 28,
01:27who co-founded the AI data annotation unicorn, Scale.ai,
01:31and who recently became a billionaire for the second time.
01:34Back in 2021, a $7.3 billion valuation of the company
01:39gave Wang his first go at a three-comma fortune,
01:42but he dropped off the Forbes list in 2023,
01:45amid a swath of plummeting private tech valuations.
01:49Now, thanks to a May funding round
01:51that valued Scale.ai at $13.8 billion,
01:55the company and Wang are back.
01:58♪♪♪
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