Determining the age of the youngest female billionaire requires looking at the latest data on the world’s wealthiest women. While billionaires’ fortunes fluctuate daily with changes in stock prices, bond yields, and other market forces, publications like the Forbes Billionaires List provide a snapshot of billionaire demographics every year.
Who are the Youngest Billionaires?
In 2022, the youngest billionaire on the Forbes Billionaires List was Gary Wang, co-founder of cryptocurrency exchange FTX. At just 29 years old, his net worth was estimated at $9.5 billion. However, Gary Wang is male.
The youngest female billionaire was Alexandra Andresen of Norway, who inherited her fortune from her father Johan Andresen, the owner of investment company Ferd. Alexandra Andresen first appeared on the Forbes Billionaires List in 2007 at age 19 with a net worth of $1.4 billion. In 2022, at age 25, her net worth was estimated at $1.3 billion.
Here is a table of the five youngest billionaires in 2022 according to the Forbes Billionaires List:
| Name | Age | Gender | Net Worth | Source of Wealth |
|---|---|---|---|---|
| Gary Wang | 29 | Male | $9.5 billion | Cryptocurrency exchange FTX |
| Gustav Magnar Witzoe | 29 | Male | $5.1 billion | Inherited stake in fish farming company SalMar ASA |
| Alexandra Andresen | 25 | Female | $1.3 billion | Inherited stake in investment company Ferd |
| Katharina Andresen | 26 | Female | $1.3 billion | Inherited stake in investment company Ferd |
| Wang Zhen | 25 | Female | $1.3 billion | Inherited pharmaceutical company Shanghai Pharma |
As you can see, the youngest self-made female billionaire is considerably older than her male counterparts at the top of the billionaires list.
The Youngest Self-Made Female Billionaire
The youngest self-made female billionaire is Whitney Wolfe Herd, co-founder and CEO of the female-focused dating app Bumble.
Wolfe Herd was born in 1989 in Salt Lake City, Utah. She co-founded the dating app Tinder during her early 20s, but left the company and filed a sexual harassment lawsuit against fellow co-founders in 2014. The lawsuit was settled out of court.
In 2014, at age 25, Wolfe Herd founded Bumble along with Russian billionaire Andrey Andreev. Bumble was created as a female-focused dating app where women make the first move. The app has expanded to add networking (Bumble Bizz) and friendship (Bumble BFF) verticals.
When Bumble held its IPO in February 2021, Wolfe Herd’s net worth shot up to over $1 billion. At age 31, she became the youngest female self-made billionaire.
For comparison, the youngest male self-made billionaire is Mark Zuckerberg, who crossed the billion dollar threshold at age 23 as Facebook went public in 2012.
The Net Worth of Whitney Wolfe Herd
As of October 2022, Forbes estimates Whitney Wolfe Herd’s net worth at $850 million. Here’s a rundown of her net worth and how she accumulated her fortune:
- About $125 million in cash and investments
- $720 million in her 11% stake in Bumble
- Wolfe Herd has salary and stock options from Bumble that continue to accumulate
- She owned over 39 million Bumble shares after the IPO, but has sold some periodically
- Bumble stock has ranged from $30 to $60 per share since going public
Wolfe Herd’s net worth briefly topped $1 billion in 2021 after Bumble’s IPO before falling back below the 10-figure mark. But at just 33 years old, she remains the youngest self-made woman to ever reach billionaire status.
Bumble’s Revenue and Profits
Bumble has managed to grow steadily since launching in 2014. Here’s a snapshot of Bumble’s revenue and profits over the past four years:
| Fiscal Year | Revenue | Net Profit |
|---|---|---|
| 2018 | $163 million | $23 million |
| 2019 | $275 million | $56 million |
| 2020 | $366 million | $32 million |
| 2021 | $547 million | $69 million |
Bumble is still losing money overall, but has managed to turn a net profit in recent years. The dating app market remains competitive with giants like Match Group, which owns Tinder along with other dating apps.
How Does Bumble Make Money?
Bumble has several revenue streams:
- Subscription fees – Users pay for premium features like seeing who already likes them.
- In-app purchases – Users can pay for “SuperSwipes” to show extra interest or boost their profile.
- Advertising – Brands pay to promote products in the Bumble app.
The vast majority of Bumble’s revenue comes from user subscriptions and purchases. This revenue is key to funding Bumble’s global growth. The app is available in over 150 countries.
Could Other Young Women Join Her in the Future?
Whitney Wolfe Herd is not likely to remain the youngest self-made female billionaire forever. There are a number of young women leading startups and high growth companies who could potentially reach billionaire status.
Some potential candidates include:
- Sara Blakely – Founder of Spanx shapewear at age 27, current net worth over $1 billion
- Elizabeth Holmes – Founded now defunct Theranos blood testing startup at age 19
- Rihanna – Net worth estimated at $1.4 billion due to Fenty fashion and beauty brands
There are also young female executives running large private companies like Reese Witherspoon’s media startup Hello Sunshine. Going public or selling to larger companies are potential paths to fortunes over $1 billion.
It’s also possible the next youngest self-made female billionaire could come from an unexpected source like cryptocurrency or some other emerging technology.
Key Takeaways
To summarize the key points:
- The youngest billionaire overall is male – Gary Wang at age 29 as of 2022
- The youngest female billionaire is Alexandra Andresen who inherited a fortune at age 19
- Whitney Wolfe Herd is the youngest self-made female billionaire at age 31
- Wolfe Herd founded female-focused dating app Bumble
- Her net worth briefly exceeded $1 billion but is currently estimated at $850 million
At just 33 years old, Whitney Wolfe Herd’s rise to billionaire status as founder of dating app Bumble was record-breaking. But she’s unlikely to remain the sole member of this exclusive club forever. Other ambitious young women founder and executives are likely to join her in the future.
Conclusion
In a world where most billionaires are older men, Whitney Wolfe Herd stands out as the youngest self-made female billionaire. Her rapid ascent shows that women can achieve huge success in tech and entrepreneurship when given the opportunity. While Wolfe Herd had the perfect timing and drive, her path to the three comma club demonstrates that the glass ceiling is crackable.