A 19-year-old makes Forbes’ 2016 rich list..worlds youngest billionaire
A 19-year-old horse rider from Norway made it onto Forbes’ 2016 billionaire list as the world’s youngest billionaire with a $1.7 billion net worth.
Forbes magazine ranked Alexandra Andresen, a professional dressage competitor, and her sister Katharine, 20, as the 1475 richest people in the world.
Andresen accumulated her personal wealth after her father Johan Andresen transferred his stake in Ferd Holdings, Norway’s largest company, to his daughter in 2007, the Daily Mail reports.
Her family made its fortune in the tobacco industry and her great, great, great grandfather founded Norway’s biggest cigarette producer.
The company sold for $700 million in 2005 and the money was invested in property and hedge funds.
Two years later her father gave 80 percent of his shares in Ferd Holdings to Andersen and her sister.
The sisters made the list for the first this year because they are both over 17 and were required to publish tax returns, making their personal fortunes public.
Despite having more wealth than anyone her age, Andresen appears to be more at home with her horses and rides professionally in Germany, where she lives.
In an interview on her company website she said money alone was not enough to succeed.
She said she feels she has a great responsibility on her shoulders and wants to help develop Ferd.
In addition to Andresen and her sister, Forbes third youngest billionaire is Gustav Magnar Witzoe, 22, is also from Norway.
Following in suit with the Scandinavian culture where family fortunes are often passed down to younger generations earlier so they engage in the family business.
Volatile stock markets, cratering oil prices and a stronger dollar led to a dynamic reshuffling of wealth around the globe and a drop in ten-figure fortunes for the first time since 2009. For our 30th annual guide to the world’s richest, we found 1,810 billionaires, down from a record 1,826 a year ago. Their aggregate net worth was $6.48 trillion, $570 billion less than last year. It was also the first time since 2010 that the average net worth of a billionaire dropped – it is now $3.6 billion, $300 million less than last year.
Behind these figures is a story of huge upheaval, as 221 people fell off the list, while 198 newcomers joined the ranks; another 29 people from 2015 died while 29 who’d previously fallen off climbed back on. Of those who were billionaires both years, 892 are poorer while 501 added to their fortunes.
The reshuffling starts at the top. Only 2 people in the top 20 managed to hold onto their ranks. Bill Gates remains the richest person in the world with a net worth of $75 billion, despite being $4.2 billion poorer than a year ago. He has been No. 1 one for 3 years in a row and topped the list 17 out of 22 years. (In the 30 years FORBES has tracked global wealth, only 5 people have held the title of richest person on planet; 3 of those 5 still rank among the 4 richest in the world including Warren Buffett and Carlos Slim.) Also holding steady is Buffett at No. 3. Zara ’s Amancio Ortega moves up to No. 2 for the first time, displacing Mexico’s Carlos Slim, who slips to No. 4. Slim’s fortune fell $27.1 billion to $50 billion in the past year, as shares of his telecom business América Móvil tumbled.
Facebook’s Mark Zuckerberg had the best year of all billionaires. The 31-year-old added $11.2 billion to his fortune and moved up to No. 6 from 16. He and Amazon’s Jeff Bezos both make their first appearance in the top ten of FORBES’ annual ranking of the world’s wealthiest. Another first: A billionaire from China’s mainland, Wang Jianlin, whose company owns AMC Theaters and soon will own Legendary Pictures, has climbed into the top 20.
most of the usual names..just changing some spots on the ladder though..
“Only 2 people in the top 20 managed to hold onto their ranks.”
and zuckerberg..the darling of the so called progressives made even more money..
“Mark Zuckerberg had the best year of all billionaires. The 31-year-old added $11.2 billion to his fortune and moved up to No. 6 from 16.”
the young female billionaire at the top can thanks millions of smokers for her wealth..