A 19-year-old Brazilian student becomes youngest billionaire in the world, with a fortune of $1.1 billion

Forbes’ list of billionaires for 2024 revealed that 19-year-old Brazilian student Livia Voigt is the youngest billionaire in the world.

This year’s list witnessed an increase in young billionaires, as it included 25 billionaires aged 33 years or younger, and their total wealth was estimated at about $110 billion.

Voigt earned the title of “the youngest billionaire in the world” after she removed Italian Clemente Del Vecchio, the heir to Essilor Luxottica, who is only two months older than her, but the latter is richer than her, with a fortune of about $4.7 billion, according to CNN.

Fugate is one of the largest shareholders in WAG Industries, the largest manufacturer of electric motors in Latin America.

Livia Voigt has a net worth of about $1.1 billion, and she, along with her older sister Dora Voigt, is among the seven new faces on the list of the youngest billionaires for the year 2024.

Livia does not hold a seat on the board of directors or any executive position at WAG, and she is currently studying at university.

WAG Industries is a public joint stock company, with factories in more than ten countries, and has achieved revenues of about $6 billion in 2022.

The company was co-founded by her grandfather, Werner Ricardo Voigt, with the late billionaires Egon João da Silva and Geraldo Werninghaus.

Many young heirs have recently joined the ranks of billionaires, and the Irish brothers Mistry, aged 25 and 27, inherited a large fortune from Tata Sons. A group of companies based in the Indian city of Mumbai, after the death of their father in 2022, and their net worth is about $4.9 billion.