The Blubber

None of Forbes’ billionaires under 30 are self-made for first time in 15 years
4/12/2024

For the first time since 2009, none of Forbes "World’s Youngest Billionaires" under 30 are self-made this year. The billionaires under 30 all inherited their wealth, which Forbes reported is due to the self-made ones aging into their 30s and the start of the "great wealth transfer."

The annual list named a few people who built their own wealth, but they top the age of 30. They include Snap co-founder and CEO Evan Spiegel (33), Gymshark co-founder and CEO Ben Francis (31) and Oculus VR founder Palmer Luckey (31).

Among the younger billionaires are brother heirs Zahan and Firoz Mistry, who are estimated to hold net worths of $4.9 billion each. The pair, ages 25 and 27, respectively, are the sons of late Cyrus Mistry, former chairperson of the Mumbai-based conglomerate Tata Group. The brothers received a minor stake in the company after their father died in 2022, three months after the death of grandfather Pallonji Mistry.

"These inheritances illustrate the beginning of a long-anticipated generational wealth transfer among aging populations around the world," Forbes wrote.

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