19-year-old Brazilian student who is now the world's youngest billionaire thanks to her stake in WEG, Latin America's largest electrical motor manufacturer.
World’s youngest billionaire: Livia Voigt who is a 19-year-old student from Brazil has become the world’s youngest billionaire, according to the 2024 Forbes Billionaires List. This year’s list features several young heirs, with the 25 youngest billionaires all aged 33 or younger, and together they hold a combined wealth of $110 billion. Voigt now holds the top spot as the youngest among them, surpassing Clement Del Vecchio, heir to the EssilorLuxottica fortune, who is just two months older than her.
Who is Livia Voigt?
Livia Voigt’s fortune comes from her significant shareholding in WEG, Latin America’s largest manufacturer of electrical motors. WEG was co-founded by her grandfather, Werner Ricardo Voigt, along with the late billionaires Eggon Joao da Silva and Geraldo Werninghaus. Although Livia is one of the largest individual shareholders in the company, she currently does not hold a seat on the board or an executive role at WEG. She is still a student, attending university in Brazil.
Livia Voigt’s current net worth is estimated at $1.1 billion. She is not the only member of her family to join the billionaire ranks. Her older sister, Dora Voigt de Assis, who is 26 years old, also made it onto the 2024 Forbes Billionaires List. Dora earned her architecture degree in 2020. The Voigt sisters are part of a new wave of young billionaires who have inherited their wealth from successful family businesses.
WEG, the company tied to the Voigt family’s fortune, is a global corporation with factories in over 10 countries. In 2022, WEG generated approximately $6 billion in revenue, solidifying its place as a leading player in the industry.
In addition to Livia Voigt, other young billionaires have recently emerged. For example, the Mistry brothers from Ireland, aged 25 and 27, inherited a large fortune from Tata Sons, a Mumbai-based conglomerate, after their father passed away in 2022. Both brothers now have an estimated net worth of $4.9 billion each.
The rise of young billionaires like Livia Voigt and the Mistry brothers highlights the ongoing trend of wealth being passed down through generations, especially in industries that have seen sustained growth and success.
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