Australia home to young billionaires in the world: Study

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The pandemic has caused a surge in the top percent’s wealth due to factors ranging from competitors’ businesses being shut down, to vaccine investments paying off.

Interested in those who have potentially profited from the pandemic, money.co.uk analysed Forbes’ Real Time Billionaires list for all billionaires under the age of 40, breaking them down by continent, average billionaire net worth per country, and average age of billionaires per country, a press release said.

The Results:

Interestingly, they found that the average wealth of billionaires under 40 is $6.1 billion.

Spanning five of the seven continents, only 18 countries are home to billionaires under the age of 40—and according to Forbes there are currently 89 billionaires under 40 in the world.

By Continent:

Continent Current number of billionaires under 40
North America 32
Europe 26
Asia 23
Australia 5
South America 3
Africa 0

 

By Country:

Country Number of billionaires under 40 Average age of billionaires under 40 (years) Total net wealth of young billionaires (USD)
USA  30 36 $291.1 B
China  16 36 $94.6 B
Germany  7 32 $13.8 B
Russia  5 36 $37.3 B
Australia  5 34 $17.8 B
Norway  4 29 $9.2 B
Hong Kong  4 35 $8.5 B
Brazil  3 37 $20.5 B
Denmark  3 35 $10.9 B
Ireland  2 32 $19.0 B
Sweden  2 37 $6.0 B
Canada  2 36 $5.6 B
Finland  1 34 $1.5 B
India  1 38 $1.3 B
Turkey  1 37 $1.3 B
South Korea  1 39 $1.2 B
Estonia  1 39 $1.1 B
Ukraine  1 38 $1.1 B

 

Money.co.uk can reveal that the United States is home to the most billionaires under the age of 40, with 30 in total. The average age of the USA’s young billionaires is 36 years, and their total wealth is $291.1 billion.

The country with the second-most young billionaires is China, with a total of 16 billionaires under 40. Young Chinese billionaires are also aged 36, on average, and have a combined wealth of $94.6 billion.

Germany ranks third, with a total of seven billionaires; these seven have an average age of 32, and a wealth of $13.8 billion.

Russia and Australia are home to five billionaires, respectively, under the age of 40, whilst Hong Kong and Norway are each home to four. Interestingly, Norway is home to the youngest billionaires, with their average age being just 29.

Brazil and Denmark follow, with three billionaires each. Ireland, Sweden and Canada are all home to two billionaires.

Finishing off this data are the countries with only one billionaire under the age of 40—Finland, India, Turkey, South Korea, Estonia and Ukraine.

Methodology:
  1. Money.co.uk analysed Forbes’ Real Time Billionaires tracker to find a list of the wealthiest individuals around the globe.
  2. They then collected all listed billionaires and excluded those aged 40 or above, in order to determine the number of ‘young’ billionaires.
  3. These ‘young’ billionaires were then further narrowed down by nationality in order to determine the countries producing the highest number of young billionaires. Data was also sorted by continent.
  4. To find their average age and wealth of billionaires under 40, money.co.uk totalled the figures for age and net worth and divided them by the number of billionaires analysed.
  5. All data was collected on the 29th of November 2021 and is correct as of then but subject to change.

*For the purposes of continental data, Russia is classified as Europe and Turkey is classified as Asia as per the United Nations classifications.


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