Fastest To A Billion: Billionaires who amassed their wealth the fastest
If you earned $1 every minute for 24 hours a day, it would still take you more than 1,902 years to become a billionaire. However, it’s important to note that there are many billionaires who made their fortunes in just a few years. CEOWORLD magazine recently conducted a study to rank billionaires based on how quickly they amassed their wealth. The study considered factors such as the number of years since the company’s founding that led to its first billion, the age at which they became billionaires, and their current net worth. According to the study, Changpeng Zhao, the co-founder of Binance, achieved the fastest wealth accumulation, earning his first billion in just seven months. His current net worth stands at $33 billion.
Jay Walker secured the second spot as one of the fastest billionaires, achieving his first billion in just a year. As the founder of Priceline.com, he reached this milestone in 2000. However, he is no longer on the list, making him the only person in the ranking to drop out. Gary Winnick takes the third spot, achieving billionaire status in 1.5 years. In 1997, Winnick founded Global Crossing, and the company’s earliest revenue totaled $160 million, the lowest among the companies whose founders became billionaires on this list. Winnick was 51 when he became a billionaire, making him the oldest person on this list.
Eric Lefkofsky is ranked fourth, taking two and a half years to become a billionaire with Groupon. Since 2011, his net worth has increased to $3.9 billion. Unlike most billionaires on this list, Lefkofsky has a background in the legal field and holds a Doctor of Law degree from the University of Michigan Law School. Evan Spiegel is ranked fifth among the billionaires who became rich the fastest. As the creator of Snapchat, Spiegel earned his first billion in just three years. Over the next decade, he doubled his fortune to have a net worth of $3.5 billion. Spiegel is also one of the youngest billionaires on the list, having earned his fortune at the age of 24.
Most of the billionaires on this list have something in common — they created a product or service that resonated with users. Establishing a business that finds mass appeal, like Facebook, Amazon, or Snapchat, can be a great way to increase your net worth quickly.
Billionaires who amassed their wealth the fastest
| Rank | Name | Company | Time | Net worth (US$billion) |
|---|---|---|---|---|
| 1 | Changpeng Zhao | Binance | 7 months | 33 |
| 2 | Jay Walker | Priceline.com | 1 year | n/a |
| 3 | Gary Winnick | Global Crossing | 1.5 years | n/a |
| 4 | Eric Lefkofsky | Groupon | 2.5 years | 3.9 |
| 5 | Evan Spiegel | Snapchat | 3 years | 3.5 |
| 6 | Bobby Murphy | Snapchat | 3 years | 3.3 |
| 7 | Cheng Wei | Didi Chuxing | 3 years | 1.2 |
| 8 | Pierre Omidyar | eBay | 3 years | 6.4 |
| 9 | Jeff Bezos | Amazon | 4 years | 194.5 |
| 10 | Mark Zuckerberg | 4 years | 163.8 | |
| 11 | Colin Huang | Pinduoduo | 4 years | 52.8 |
| 12 | Jan Koum | 4 years | 15.9 | |
| 13 | Mark Cuban | Sold Broadcast.com | 4 years | 5.4 |
| 14 | Li Weiwei (Li Yifei) | Technology Investments | 4 years | 1.3 |
| 15 | Jerry Yang | Yahoo | 4 years | 2.6 |
| 16 | David Filo | Yahoo | 4 years | 3.5 |
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