The world is experiencing an unbelievable thing which is the young billionaire rising talent due to the hyper-connectivity and technology revolution. It was a rare concept in the past decade to find someone in the list of self-made billionaires and millionaires of rich people around the world at a young age. However, the technology startup revolution has been dominated by US tech entrepreneurship around the world. WealthX data shows that as compared to the billionaires in any other business area, tech billionaires are making more worth. There are 143 tech billionaires around the world as shown in the data with an estimated value of $6 billion each. The average worth of $3 billion is owned by the billionaire other than tech ones. Why there is so much difference between the two categories? Peter Thiel has given the answer in his bestseller “Zero To One” who is a legendary investor and founder of PayPal. As compared to other business sectors, the tech industry has an advantage due to the easy scaling and growth of technology-related products and services. These products also demand a low cost for operation and have more margin for profit. Forbes 2019 list of richest people of the world shows that there are 71 individuals below the age of 40 who are self-made billionaires. 30 out of 71 belong to the tech industry, 7 are owning a business in real estate while 7 have made progress in the field of the fashion industry. This article covers Top 5 Young Technology Billionaires.
The CEO and co-founder of Spotify, which is an online music streaming site are Daniel Ek which he co-founded in 2006 with Martin Lorentzon. There are more than 140 million paid subscribers of Spotify. He is a billionaire from Sweden having a net worth of $5 billion and the estimated value of Spotify is $60 billion. Can anyone think about making a $100 billion business while renting three air mattresses to fulfill their basic needs? The same is the case with the founders of a company named Airbnb. The current CEO and co-founder of the company are 39 years Brian Chesky, the company is a peer-to-peer house renting business that functions like Uber. The company was started in 2007 by Joe Gebbia and Brian while in the next year Nathan Blecharczyk joined the business. Y combinator provided them initial funding and they made their business a success. Read more at 15 Youngest Tech Billionaires.