How the world's 5 youngest billionaires spend their time and money

gustav magner witzoe
  • Not that unlike their older peers, the world's youngest billionaires spend their fortune on things such as luxury cars, travel, and shoes.
  • Norway is home to three of the world's five youngest billionaires - Gustav Magnar Witzøe, Katharina Andresen, and Alexandra Andresen.
  • Only one of the world's five youngest billionaires is self-made, according to Forbes.
  • Visit Business Insider's homepage for more stories.

For many people in their 20s, life is a constant balancing act of paying off student debt and finding the funds to be independent while still having fun.

That's not the case for Kylie Jenner and other members of the world's youngest ultrawealthy elite. We have taken a look at the lives of the world's five youngest billionaires as determined by Forbes' 2020 Billionaires List - all 28 years old and under - to see how they spend their days and their practically unlimited funds.Advertisement

From zooming Ferraris to international dressage competitions, scroll down to meet the world's five youngest billionaires (presented by age in ascending order) and see how they spend their fortunes.

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At 22, Kylie Jenner is the youngest billionaire in the world.

At 22, Kylie Jenner is the youngest billionaire in the world.

Source: Forbes

She has a net worth of $1 billion thanks, largely, to the success of her makeup company, Kylie Cosmetics.

She has a net worth of $1 billion thanks, largely, to the success of her makeup company, Kylie Cosmetics.

Source: Forbes

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The company was valued at $1.2 billion in November after Jenner sold a majority stake in her makeup brand to CoverGirl's parent company, Coty Inc., for $600 million.

The company was valued at $1.2 billion in November after Jenner sold a majority stake in her makeup brand to CoverGirl's parent company, Coty Inc., for $600 million.

Source: Business Insider

She shares her life with her 169 million Instagram followers and reportedly charges $1 million per sponsored post.

She shares her life with her 169 million Instagram followers and reportedly charges $1 million per sponsored post.

Source: Business Insider

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Jenner rose to fame on her family's reality-TV show, "Keeping Up With The Kardashians." She was 9 years old when the first episode was filmed.

Jenner rose to fame on her family's reality-TV show, "Keeping Up With The Kardashians." She was 9 years old when the first episode was filmed.

Source: The Hollywood Reporter

Jenner launched her first makeup product, the Kylie Lip Kit, in 2015.

Jenner launched her first makeup product, the Kylie Lip Kit, in 2015.

Source: Forbes

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Jenner owns multiple luxury cars, which are most likely worth millions collectively.

Jenner owns multiple luxury cars, which are most likely worth millions collectively.

Source: Business Insider

Jenner stores her cars in her 1.4-acre Hidden Hills, California, compound, which she purchased in 2016 for $12 million.

Jenner stores her cars in her 1.4-acre Hidden Hills, California, compound, which she purchased in 2016 for $12 million.

Source: Variety, Trulia

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Jenner shares the mansion with her 2-year-old daughter Stormi Webster.

Jenner shares the mansion with her 2-year-old daughter Stormi Webster.

Source: Insider

The world's second- and third-youngest billionaires are the sisters Alexandra, right, and Katharina Andresen.

The world's second- and third-youngest billionaires are the sisters Alexandra, right, and Katharina Andresen.

Source: Forbes

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Alexandra and Katharina each have a net worth of $1.1 billion.

Alexandra and Katharina each have a net worth of $1.1 billion.

Source: Forbes

They each own 42.2% of the Oslo, Norway-based investment company Ferd, which their father, Johan H. Andresen, founded.

They each own 42.2% of the Oslo, Norway-based investment company Ferd, which their father, Johan H. Andresen, founded.

Source: Money

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Alexandra, 23, is a keen horse rider and has at least four horses.

Alexandra, 23, is a keen horse rider and has at least four horses.

Source: Instagram

She rides competitively and is sponsored by the equestrian brands Kingsland and Samshield.

She rides competitively and is sponsored by the equestrian brands Kingsland and Samshield.

Source: Instagram

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She makes sure her "boys" are kept in the best shape with plenty of veterinary and grooming appointments.

She makes sure her "boys" are kept in the best shape with plenty of veterinary and grooming appointments.

Source: Instagram

She was a part of Norway's dressage team ...

She was a part of Norway's dressage team ...

Source: Instagram

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... and like many 23-year-olds, she appears to enjoy getting glammed up and going out with friends.

... and like many 23-year-olds, she appears to enjoy getting glammed up and going out with friends.

Source: Instagram

But it's not all ponies and sky-high martinis. If her Instagram feed is any indication, Alexandra also loves the outdoors, hiking, camping, and fishing.

But it's not all ponies and sky-high martinis. If her Instagram feed is any indication, Alexandra also loves the outdoors, hiking, camping, and fishing.

Source: Instagram

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Alexandra is a self-proclaimed jet-setter. In a photo dated December 2016, she's pictured in Mumbai, India.

Alexandra is a self-proclaimed jet-setter. In a photo dated December 2016, she's pictured in Mumbai, India.

Source: Instagram

Alexandra and Katharina, her 24-year-old sister, have five dogs between them, including a purebred boxer and a bulldog.

Alexandra and Katharina, her 24-year-old sister, have five dogs between them, including a purebred boxer and a bulldog.

Source: Instagram

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Before Alexandra moved to Florida in 2018, both sisters lived at home with their father and mother, pictured here with Katharina.

Before Alexandra moved to Florida in 2018, both sisters lived at home with their father and mother, pictured here with Katharina.

Source: Money

When their father transferred most of his funds to his daughters in 2005, the money was split equally between Alexandra and Katharina (pictured here).

When their father transferred most of his funds to his daughters in 2005, the money was split equally between Alexandra and Katharina (pictured here).

Source: Money

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Katharina is also a horse-riding fan, but less so than her younger sister.

Katharina is also a horse-riding fan, but less so than her younger sister.

Source: Instagram

Katharina enjoys staying up-to-date with the latest fashion trends, and favors a Louis Vuitton bag. This one's value is estimated at $1,900.

Katharina enjoys staying up-to-date with the latest fashion trends, and favors a Louis Vuitton bag. This one's value is estimated at $1,900.

Source: Louis Vuitton

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Another from her collection, this holiday-ready Louis Vuitton duffel, is valued at $1,870.

Another from her collection, this holiday-ready Louis Vuitton duffel, is valued at $1,870.

Source: Louis Vuitton

Katharina is a self-proclaimed "shoe-aholic." These limited-edition Louboutin pumps have an estimated value of $640.

Katharina is a self-proclaimed "shoe-aholic." These limited-edition Louboutin pumps have an estimated value of $640.

Source: Christian Louboutin

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These pearl-encrusted, heeled Gucci loafers — also from her collection — will cost you $990.

These pearl-encrusted, heeled Gucci loafers — also from her collection — will cost you $990.

Source: Gucci

The older Andresen sister is also a fan of Rolex watches.

The older Andresen sister is also a fan of Rolex watches.

Source: Money

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But her pride and joy is her bulldog, Tycho.

But her pride and joy is her bulldog, Tycho.

Source: Instagram

Just behind the Andresen sisters is Gustav Magnar Witzøe, who is also among Norway's superrich and is the fourth-youngest billionaire in the world.

Just behind the Andresen sisters is Gustav Magnar Witzøe, who is also among Norway's superrich and is the fourth-youngest billionaire in the world.

Source: Forbes

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This 26-year-old is worth $2.3 billion and owns 47% of the Norwegian salmon producer SalMar, which was gifted to him in 2013 by his dad, Gustav Witzøe, pictured here. He's the wealthiest billionaire on this list.

This 26-year-old is worth $2.3 billion and owns 47% of the Norwegian salmon producer SalMar, which was gifted to him in 2013 by his dad, Gustav Witzøe, pictured here. He's the wealthiest billionaire on this list.

Source: Forbes

Gustav (also known as Gus) is into fashion — especially shoes. He often features in the front row of various Norwegian fashion shows.

Gustav (also known as Gus) is into fashion — especially shoes. He often features in the front row of various Norwegian fashion shows.

Source: Instagram

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He's a model with Next Models Worldwide.

He's a model with Next Models Worldwide.

Source: Instagram

And judging by his Instagram feed, he likes to travel. Here he is in Padangtegal, Indonesia, in April 2017.

And judging by his Instagram feed, he likes to travel. Here he is in Padangtegal, Indonesia, in April 2017.

Source: Instagram

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Witzøe has at least one full sleeve of tattoos.

Witzøe has at least one full sleeve of tattoos.

Source: Instagram

And, judging by social media posts, he enjoys active hobbies like golfing, skiing, and Jet Skiing.

And, judging by social media posts, he enjoys active hobbies like golfing, skiing, and Jet Skiing.

Source: Instagram

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Like the Andresen sisters, Witzøe also has a pet dog: His blue Staffordshire bull terrier features heavily on his Instagram.

Like the Andresen sisters, Witzøe also has a pet dog: His blue Staffordshire bull terrier features heavily on his Instagram.

Source: Instagram

German heiress Elisabeth Furtwaengler, 28, is the world's fifth-youngest billionaire.

German heiress Elisabeth Furtwaengler, 28, is the world's fifth-youngest billionaire.

Source: Forbes

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Furtwaengler's father, magazine publisher Hubert Burda, gave both her and her elder brother Jacob 25% stakes in the family company, which publishes the German editions of Elle and Harper's Bazaar.

Furtwaengler's father, magazine publisher Hubert Burda, gave both her and her elder brother Jacob 25% stakes in the family company, which publishes the German editions of Elle and Harper's Bazaar.

Source: Forbes

Professionally, Furtwaengler divides her time between serving on Burda Media's board and her career as a singer-songwriter.

Professionally, Furtwaengler divides her time between serving on Burda Media's board and her career as a singer-songwriter.

Source: Forbes

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Under the stage name Lisa Fou, Furtwängler has performed at music festivals in Munich and released covers of songs on YouTube ...

Under the stage name Lisa Fou, Furtwängler has performed at music festivals in Munich and released covers of songs on YouTube ...

Source: Forbes

... including this one of her rapping "Godzilla" by Eminem.

... including this one of her rapping "Godzilla" by Eminem.

Source: Youtube

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