All billionaires under 30 have inherited their wealth, research finds

All of the world’s billionaires younger than 30 inherited their wealth, the first wave of “the great wealth transfer” in which more than 1,000 wealthy people are expected to pass on more than $5.2tn (£4.1tn) to their heirs over the next two decades.

There are already more billionaires than ever before (2,781), and the number is expected to soar in the coming years as an elderly generation of super-rich people prepare to give their fortunes to their children.

Research by Forbes magazine found there were 15 billionaires aged 30 or under but that none had created their own wealth, instead benefitting from huge inheritances.

Among them are Ireland’s Firoz Mistry, 27, and his brother Zahan, 25, who each have an estimated $4.9bn from their stakes in Tata Sons, the parent company of the Indian conglomerate Tate Group, which owns car brands including Jaguar Land Rover. They inherited their 4.6% stakes in the company in 2022 after the death of their father, Cyrus Mistry, who died less than three months after their grandfather Pallonji.

Three children of Leonardo Del Vecchio, the founder of the luxury sunglasses company Luxottica, became billionaires after his death in 2022. Leonardo Maria, 28, Luca, 22, and Clemente Del Vecchio, 19, each inherited a 12.5% stake in the family’s Luxembourg-based holding company Delfin, which owns nearly a third of EssilorLuxottica, the company behind Ray-Ban and Oakley. The siblings has a fortune estimated to be worth $4.7bn each.

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