Youthful Billionaires: Exploring the Multibillion-Dollar Legacies of the Mistries and Del Vecchios

The world’s five wealthiest individuals under the age of 30, hailing from two prominent families, boast a collective net worth approaching $24 billion in the current year.

The Mistries, based in Ireland, comprise Zahan and Firoz Mistry, aged 25 and 27, with individual net worths of $4.9 billion each. Primarily inheriting their wealth from their late father, Cyrus, who tragically passed away in a car accident in 2022, the siblings each hold an 18.4% stake in Tata Sons, the Indian conglomerate controlling Tata Group. Tata Group boasts diverse interests in sectors such as automotive, power, and steel and is the owner of the luxury car brand Jaguar Land Rover.

Meanwhile, in Italy, the Del Vecchio family’s three brothers—Clemente, Luca, and Leonardo Maria, aged 19, 22, and 28—each possess a net worth of $4.7 billion. Sons of the late Leonardo Del Vecchio, former chairman of EssilorLuxottica, the world’s largest eyeglasses firm, they also hold shares in entities like insurer Generali, banks Mediobanca and UniCredit, and real estate developer Covivio. Clemente notably clinched the title of the world’s youngest billionaire at just 18 years old.

World’s Billionaire List for 2024 features a total of 14 individuals under the age of 30, collectively amassing a net worth of nearly $41 billion. Interestingly, all billionaires in this age bracket have inherited their wealth, marking the onset of what experts term “the great wealth transfer.” This phenomenon predicts a transfer of over $5.2 trillion from affluent individuals to their heirs over the next two decades, as reported by the Guardian.

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