This German Teenager Is Now The Youngest Billionaire In The World
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
So, you're 70 and your 401(k) still looks like a ghost town? Turns out, you're part of a surprisingly crowded club that nobody talks about at dinner parties. Life has this annoying habit of eating up every dollar you planned to save, especially when inflation’s on a rampage. But don't count yourself out just yet. There’s still time—and plenty of smart, doable ways to get started.
Once-valuable treasures can lose their shine as trends fade. There are so many "vintage" items that now serve as relics. Check out how once-prized collectibles became surprisingly worthless, and let us know if you agree.
This month, Amazon was served a major safety citation after federal investigators found multiple of its warehouses operating under unsafe work conditions.
Whether it’s pure nostalgia, obsession, or just plain curiosity, these bizarre items prove that, at the right auction, anything can become a treasure.
Renting out your basement on Airbnb to tackle credit card debt might seem like a practical solution. But keeping it a secret from your spouse is never a good idea. It's their home too. Before panic sets in, step back and evaluate your motives, the risks, and the road ahead. There are thoughtful ways to resolve this honestly and constructively—without blowing up your relationship.
A perfect smile doesn't have to be expensive. Find out how to get affordable dental implants near you with these simple tips.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
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