Kylie Jenner, the world’s most famous young billionaire on top of every Forbes list, might be inspirationally on the minds of every Instagrammer or makeup enthusiast under the age of 21. And other young billionaires, like Austin Russell, Alexandra and Katrina Andreasen, or Gustav Witzoe, could be just as popular and aspirational in some circles as Jeff Bezos or Rupert Murdoch. However, a billion dollars is a high number, one that’s thrown around more than a football on Thanksgiving. It’s almost impossible to achieve, even with a lifetime of work. What’s much more attainable is earning a million dollars — which even those under 21 can achieve.
There is an unseen world of young entrepreneurs that haven’t hit the inconceivable profits of Elon Musk, but whose wealth far surpasses the average American salary of $31,000. With ages and vocations ranging from entertainers to entrepreneurs, you might not know about these young millionaires, but you should.
Who is the youngest millionaire in the world?
The first gaggle of young millionaires that may have been out of the public’s immediate awareness is the ones that didn’t necessarily found a company or start a movement to gain their wealth. These are the children who come from family wealth.
The most obvious children worth mentioning are those in the billionaire category. Prince George of the Royal Family, Phoebe Gates of the Gates family, and Blue Ivy Carter of the Beyoncé family are all estimated to be worth more than $3 billion, as their wealth is also the wealth of their parents. Moulay Hassan, the Crown Prince of Morocco, follows close behind at an estimated $2 billion net worth.
But as mentioned, a billion is far different than a million, and to name the youngest children who might inherit a million dollars is a far more difficult feat. These rich kids could range anywhere from Dannielynn Birkhead, the stunning 13-year-old daughter of bombshell Anna Nicole Smith (worth around $10 million) to the children of Ladders readers. Being a millionaire in this day and age is so common, oddly enough, it’s difficult to tell who the youngest millionaire beneficiary might be.
That being said, if one isn’t counting the young heirs and heiresses of Hollywood and Silicon Valley, there are children and teens alike that have made a few million on their own merit.
RankRed reports that the youngest working millionaire as of 2021 is Mia Talerico of Santa Barbara, California. This young starlet brought home the bacon with the millions she made off of the Disney series “Good Luck Charlie, as Charlie Duncan, the youngest in the Charlie family;” when she started on the show, she was just one year old.
Though no longer on the series, Talerico, now at the ripe old age of twelve, is still an actress for TV and film. With a net worth of around $1.5 million, Talerico can be found on TikTok, Instagram, or on the web series Mani, continuing to be richer than many of us will be in a lifetime.
Who is the youngest self-made millionaire?
As for the more entrepreneurial-minded young millionaires, these kids range from gamers to YouTubers, lawn care business owners and IT firms. Leading the pack is 15-year-old Alina Morse, founder of Zollipops. Morse founded the company on her own when she was just 9, and was on the cover of Entrepreneur Magazine in 2018, at an age when most of us would be getting our braces on — just 13 years old.
Morse has successfully cornered the market of erythritol candies focused on dental health, and her headquarters outside of Detroit A feature on Today.com indicates that Zollipops, as of 2019, had over $6 million in profits, and were sold in more than 7,000 stores both online and in-person. While she’s still in school and competitively dancing, her father, her manager and a former Deloitte consultant handle company business when his daughter is busy.
The slightly older of the two youngest self-made millionaires is Akshay Ruparelia, who reportedly had a net worth of $12 million at just 19 years old. An entrepreneur from Hemmel Hampstead, UK, the now-22-year-old Ruparelia launched his online real estate firm Doorsteps.co.uk in 2016.
According to Money Inc, Doorsteps “allowed new homeowners to buy with the lowest amount of commission possible” with various payment plans. Ruparelia states that he simply saw a “huge gap in the market,” and after working with property consultants out of a huge office as he was preparing for his college entrance exams, he launched Doorsteps.
If this seems like a Barbara Corcoran-like story, that’s because, in some ways, it is. RankRed adds that the agency works by hiring “freelance property consultants on a contractual basis depending on the number of properties they have in hand. This eliminates the need for traditional agents and significantly reduces their operational costs.”
As of now, Doorsteps.co.uk is currently the 10th largest real estate agency in the UK, worth over $20 million. Ruparelia is still actively running Doorsteps, and with rave reviews and sky-high profits, more millions are definitely in his future.