Family fortune

World’s youngest billionaire is a 19-year-old from Norway

Alexandra Andresen (@alexandraandresen/Instagram)

According to Forbes magazine, the world’s youngest billionaire is Alexandra Andresen, a Norwegian teenager and professional dressage rider. Valued at $1.2 billion, she is the world’s 1,476th richest person, out of a total of 1,810 billionaires on the magazine’s list. Both she and her sister Katharina, a 20-year old college student (and second youngest on the list) inherited large stakes in their family’s investment company, Ferd. The family made their fortune as Norway’s largest producer of cigarettes, but decided to sell that business in 2005 for ethical reasons and turned their company into a holding company, investing in property, private equity and hedge funds. While her older sister works for the family firm in Oslo, Alexandra lives in Germany, where she is a promising horseback rider, winning medals in dressage competitions all over Europe. Despite her remarkable wealth, the 19-year-old billionaire insists she is very cautious with her money and even drives a second-hand car: “I actually save all the time, I have always done,” she told Ferd’s corporate magazine last year.“I save when I get my weekly allowance, and I save the cash prizes I win in competitions or if I get money as a gift for my birthday. It means I can buy myself things I really want, like a bag or a pair of shoes, without having to ask mum or dad for money.”

Read the full story at Forbes and The Telegraph.

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