Meet the youngest billionaires in the 2021 Forbes400 list:
swings and stunning rise since the early days of the Covid-19 pandemic have made many millennials avid investors, and nobody has benefited more from their obsession with meme stocks and cryptomania than a few of their young peers.
The youngest person on the newly released Forbes 400 list of richest Americans, 29-year-old Sam Bankman-Fried, has amassed an astonishing $22.5 billion fortune thanks to the rapid growth of FTX, the cryptocurrency exchange he founded two years ago in Hong Kong, and his own crypto investments. Aiming to be a poster boy for “effective altruism,” Bankman-Fried is intent on making as much money as possible so he can give away as much as possible where it’s most needed.
Save for Mark Zuckerberg, no one has ever gotten this rich this young. About half of his fortune is tied up in FTX’s FTT tokens, which help users make trades and get discounts on the exchange. FTX caters to sophisticated derivatives traders looking to buy assets like bitcoin options and allows users to trade tokens pegged to traditional stocks. It was valued by private investors at $18 billion in July.
Rival exchange Coinbase Global’s millennial cofounders Brian Armstrong and Fred Ehrsam debut on The Forbes 400 list this year as well, after Coinbase went public in a direct listing in April. Popular investing app Robinhood Markets’ July IPO made 37-year-old cofounder Baiju Bhatt also a newcomer to the ranks, barely making the $2.9 billion cutoff.
In all, 15 members of The Forbes 400 are under 40, up from 12 last year, with six of them appearing on the list for the first time. Airbnb’s Brian Chesky and Joe Gebbia both turned 40 in August, aging out of the youngest group, and embattled Nikola founder Trevor Milton dropped off the list this year. Zuckerberg is the wealthiest person in this group by a wide margin, with a $134.
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15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
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15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »
15 Under 40: The Youngest Billionaires On The 2021 Forbes 400Meme stocks and cryptomania have helped a few new millennials debut on the list, including the richest person ever under 30 besides Mark Zuckerberg.
Read more »