June 17, 2021 | Eul Basa

This German Teenager Is Now The Youngest Billionaire In The World


Becoming a billionaire is easy when you're born into money. Just take Kevin David Lehmann, for example—the 18-year-old teenager from Germany recently became the youngest billionaire in the world after he inherited stakes in the country's leading drugstore chain, dm-drogerie markt, from his father. According to Forbes, Lehmann is now worth $3.3 billion, and he never even had to lift a finger.

“Guenther Lehmann, the 18-year-old billionaire’s father, transferred a stake in German drugstore chain 'drogerie markt' to his son when he was 14," reads Forbes' description of Lehmann in its 35th annual list of billionaires. "It remained under trusteeship until his 18th birthday, which was in September 2020.”

Once he turned of age, Lehmann was able to acquire trusteeship to the firm. He now joins the ranks of other young billionaires who also inherited their fortunes, such as Wang Zelong who takes this year's No. 2 spot with $1.5 billion, and Alexandra Andresen who follows in the No.3 spot with $1.4 billion.

Interestingly enough, neither Lehmann nor his father is actually involved in the company's affairs. In fact, not much is known about the two or their family. Lehmann is not active on social media and also rarely makes any public appearances. Such is a stark difference from the previous holder of the title, Kylie Jenner, who rose to billionaire status primarily through her Kylie Cosmetics entrepreneurship and public dealings. In 2020, Jenner was initially considered "self-made" by Forbes; however, the publication retracted the statement after a technicality proved that her wealth did not entirely result from her sole efforts.

Dm-drogerie markt is an established name in Germany. Founded in 1973, the retailer services over 1.7 million customers across the country with a total of 2,000 stores and 41,000 employees. The company is also deeply rooted in sustainable action and works with several partners on various ecological, social, and cultural campaigns.


READ MORE

If You'd Bought These Stocks, You'd Be Rich Now

Nothing in the stock market is guaranteed. It's a gamble—and even the people that know the most and understand it the best often lose lots of money. But there is also the opportunity to make lots of money if you make the right choices/guesses/get lucky. Like if you'd bought any of the following stocks...
December 11, 2024 Jesse Singer

Simple Things You Can Do To Increase The Value Of Your Home

If you are selling your house, or thinking about selling your house—these are some of the simple (and often for very inexpensive) things you can do to increase the value of your home and help get the highest offers and the most money you can out of it.
December 11, 2024 Jesse Singer

40 Ways To Lower Your Living Expenses In 2025

We've all been feeling the pinch of inflation in 2024—everything has increased, from gasoline to clothing, food, and much more. Looking ahead into 2025, many of you may want to decrease your living expenses without necessarily having to take drastic financial measures or make massive lifestyle changes. Here are 40 ways to lower your living expenses next year.
December 11, 2024 Jack Hawkins

Finance Guru Dave Ramsey's Best Money Advice

Podcaster and financial guru Dave Ramsey went from a millionaire—to broke in his twenties—and then re-gained his financial status in his thirties. Find out how he did it and how it could work for you by adopting some of Dave's best financial advice.
December 11, 2024 Jack Hawkins

25 Smart Ways To Save Money While Travelling

Exploring national or international places won’t cost a fortune with smart strategies. Prior research, creative planning, and soft skills can save a lot more than most people might think!
December 11, 2024 Jane O'Shea

Hacks To Save Money On Groceries Without Sacrificing Quality

Grocery shopping shouldn’t always be expensive. Actions like smart shopping, meal planning, and substitution hacks can change those grocery trips from budget busters into money-saving victories.
December 10, 2024 Jane O'Shea



Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team