The world’s youngest billionaires, boasting a combined wealth of $110 billion (approximately Rs 9 lakh crore), are all 33 years old or younger according to the Forbes Billionaires List for 2024. This list, however, reveals a compelling trend – many of these fortunes are not self-made but rather inherited, highlighting the significant role of family legacy in wealth accumulation.
Two prominent examples of this trend are the Mistry brothers, Firoz and Zahan. The brothers, with a combined net worth of $9.8 billion (more than Rs 81,631 crore), inherited their wealth from their father, Cyrus Mistry, the former chairman of Tata Sons. Cyrus Mistry tragically passed away in a vehicle accident in 2022, leaving his sons, Zahan (25) and Firoz (27), as inheritors of a substantial portion of the family’s wealth.
While they reside in Mumbai, the Mistry brothers are Irish citizens. Their inclusion on the Forbes list stems from their inheritance of a stake in the family’s 18.4% interest in Tata Sons. After spending over eighteen months working in various aspects of the family business, Firoz and Zahan Mistry assumed executive roles within the organization in December 2022.
Firoz Mistry graduated from the University of Warwick, while Zahan Mistry completed his education at Yale University. The foundation for the family’s legacy was laid by their grandfather, Pallonji Mistry. Their uncle, Shapoor Mistry, serves as the chairman of the family’s building conglomerate, the Shapoorji Pallonji Group, headquartered in Mumbai.
It’s worth noting that Livia Voigt of Brazil is the youngest billionaire in the world, as per Forbes’ latest World’s Billionaires list. Voigt owns a small stake in WEG, an electrical equipment manufacturer. The 19-year-old’s estimated net worth stands at $1.1 billion. This case showcases a different path to wealth accumulation compared to the Mistry brothers, highlighting the diverse ways individuals achieve billionaire status at such a young age.
