This year, there were two paths to making it onto The Forbes 400 before your 40th birthday: Start a successful tech company, or inherit a fortune from your family.
The 14 youngest billionaires on The Forbes 400 are a rarefied group, making up just 3.5% of list. Nine of these 14 folks under 40 are tech entrepreneurs; the rest inherited their fortunes. After two years of expanding ranks in the under-40 set, the number of young billionaires on The Forbes 400 dropped by three this year (more on that below). Half of the group lives in California, and together these young billionaires are worth a combined $113.7 billion.
The youngest member of The Forbes 400 for the second year in a row is 26-year-old Snap Inc. (formerly Snapchat) CEO Evan Spiegel, who is one of just two Forbes 400 members under the age of 30. (The other is his cofounder Bobby Murphy, who is 28.) In May 2016, Snapchat completed a $1.8 billion funding round, valuing the mobile messaging startup at $18 billion. On September 23, Spiegel announced that Snapchat would be rebranding as Snap Inc, to signal its move beyond social media into hardware. The company released a pair of $130 video-recording sunglasses, a hipper version of the unsuccessful Google Glass. Read more