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.