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Youngest billionaires in America

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Stacker compiled data from Forbes to figure out who are the youngest billionaires in America. Ties in age are broken by net worth ranking.  
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America’s oldest billionaire is 101-year-old insurance magnate George Joseph. Of more than 700 American billionaires, the median age is 68. But there are young billionaires, too, with some having net worths ranging from $2.5 billion to $17.2 billion. The newest youngest billionaire is only 25 years old.

Stacker compiled data from Forbes’ Real-Time Billionaires List as of Nov. 23, 2022, to list the youngest billionaires in America. Any ties in age were broken by net worth ranking. Some are heirs to family fortunes and even many of the world’s “self-made” billionaires started off with advantages in life, including startup funds from family. Tech companies like WhatsApp, Snapchat, and Facebook have created many fortunes, although technology isn’t the only way to strike it rich. Others have made their money through hedge funds, retail, and even by creating a burger that relies upon the simplest recipe and ingredients.

A few billionaires came from more humble beginnings. Some immigrated seeking better opportunities in America, while others were born to single parents who struggled to provide for them, and some never went to college or dropped out to pursue the ideas that would make them wealthy. Readers will notice that women are rare on this list, pointing to the continuing discrimination and sexism they face in boardrooms, as well as the broader inequality in access to capital often necessary to turn a good idea into big money.

Curious to see who the youngest billionaire is? Continue reading to find out who made the exclusive and enviable list.

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Jan Koum sitting on a white chair onstage.

Manuel Blondeau – Corbis // Getty Images

#50. Jan Koum

– Age: 46
– Net worth: $13.3 billion (#48 richest in the U.S., #130 richest in the world)
– Source of wealth: WhatsApp

Born in Ukraine, Jan Koum immigrated to the United States with his mother at the age of 16 in search of a better life. Koum, the co-founder and former CEO of WhatsApp, became a billionaire when Facebook purchased the mobile messaging app in 2014 for $19 billion. Ironically, when Koum left Yahoo in 2007, he applied to Facebook and Twitter, both of whom turned him down, which led to him starting WhatsApp.

Justin Ishbia in a suit.

Enchantingbear // Wikimedia Commons

#49. Justin Ishbia

– Age: 45
– Net worth: $2.2 billion (#465 richest in the U.S., #1,321 richest in the world)
– Source of wealth: Private equity

In 1986, Justin Ishbia’s father founded United Wholesale Mortgage, a lender based in Michigan. The younger Ishbia has a 22% stake in the company, which has since gone public and in 2015, became the largest wholesale lender in the U.S. Ishbia also has a private equity firm in Chicago, Shore Capital Partners.

Alejandro Santo Domingo standing at a podium in a black suit.

JP Yim // Getty Images

#48. Alejandro Santo Domingo

– Age: 45
– Net worth: $2.5 billion (#423 richest in the U.S., #1,164 richest in the world)
– Source of wealth: Beer

Alejandro Santo Domingo works at New York investment advisory firm Quadrant Capital Advisors as a senior managing director, but his fortune comes from his family. His father, Julio Mario Santo Domingo, passed down the 15% stake he had in SABMiller, a business division of Anheuser-Busch InBev SA/NV, to his sons and grandchildren. Santo Domingo holds a 1.75% stake in the family beer fortune.

Daniel Sundheim walking outside in a blue jacket and jeans.

Kevin Dietsch // Getty Images

#47. Daniel Sundheim

– Age: 45
– Net worth: $2.9 billion (#374 richest in the U.S., #977 richest in the world)
– Source of wealth: Hedge funds

Daniel Sundheim is the founder and CFO of D1 Capital Partners LP, an investment firm that he started in 2018. Previously, Sundheim worked at Viking Global Investors for 15 years, and he started his career researching private equity investments and executing them at Bear Stearns’ Merchant Banking Group.

A man working on a laptop.

GaudiLab // Shutterstock

#46. Jeff Green

– Age: 45
– Net worth: $3.0 billion (#367 richest in the U.S., #959 richest in the world)
– Source of wealth: Digital advertising

Jeff Green, chairman and CEO of The Trade Desk, attended the University of Southern California where he studied marketing communications. Prior to founding The Trade Desk, Green founded AdECN in 2004. The company, an online advertising exchange, was acquired by Microsoft in 2007.

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Scott and Elena Shleifer dressed in black at a banquet dinner.

Ben Gabbe // Getty Images

#45. Scott Shleifer

– Age: 45
– Net worth: $3.5 billion (#322 richest in the U.S., #806 richest in the world)
– Source of wealth: Private equity

Scott Shleifer is the founder of the private equity unit at Tiger Global Management, where he is also the Managing Director. Some of the investments he has made have been in Chinese companies, including JD.com, the ride-hailing app Didi Chuxing, and the e-commerce company Meituan.

Ryan Smith onstage wearing a black hat and hoodie.

Sportsfile // Getty Images

#44. Ryan Smith

– Age: 44
– Net worth: $1.5 billion (#620 richest in the U.S., #1,908 richest in the world)
– Source of wealth: Cloud computing

Qualtrics was acquired by SAP for $8 billion in cash just days before its scheduled IPO, making its co-founder and CEO Ryan Smith a billionaire. The sale of the cloud-computing company also made fellow co-founders, Jared Smith and Scott Smith—Ryan Smith’s brother and father, respectively—millionaires as well.

Andres Santo Domingo at a podium in a black suit.

JP Yim // Getty Images

#43. Andres Santo Domingo

– Age: 44
– Net worth: $1.6 billion (#588 richest in the U.S., #1,775 richest in the world)
– Source of wealth: Beer

Brother to Alejandro Santo Domingo and son to Julio Mario Santo Domingo, the majority of Andres’ fortune is in Anheuser-Busch InBev, which acquired SABMiller in 2016 for $100 billion. Andres Santo Domingo was educated at Brown University, and while his family fortune comes from the beer industry, he has a passion for music. In 2002, he co-founded record label Kemado Records.

Bom Kim smiling in a suit with a microphone in hand.

M. Von Holden // Getty Images

#42. Bom Kim

– Age: 44
– Net worth: $3.4 billion (#327 richest in the U.S., #826 richest in the world)
– Source of wealth: Online retailing

While Bom Kim was born in South Korea, he was raised in the U.S. and attended Harvard Business school, although he dropped out after only six months. Kim’s company Coupang has been referred to as the South Korean version of Amazon, and it has given the American company a run for its money. Coupang raised $4.6 billion and was valued at $109 billion in its U.S. initial public offering, one of the biggest IPOs in 2021.

Robert Pera, Jesse Williams, Win Butler, Mo'Ne Davis, Spike Lee, Anthony Anderson, Mike Golic and Nick Cannon attend the NBA All-Star Celebrity Game in red basketball uniforms.

Brad Barket // Getty Images

#41. Robert Pera

– Age: 44
– Net worth: $17.2 billion (#40 richest in the U.S., #95 richest in the world)
– Source of wealth: Wireless networking gear

Robert Pera began working at Apple in 2003, and by 2005 he was working full-time at Ubiquiti Networks, a wireless equipment maker that he founded. In 2012, he also became one of the youngest controlling owners in the NBA after purchasing the Memphis Grizzlies.

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Technology graphs on a screen in multiple colors.

Sodel Vladyslav // Shutterstock

#40. John Bicket

– Age: 42
– Net worth: $1.1 billion (#694 richest in the U.S., #2,279 richest in the world)
– Source of wealth: Sensor systems

Currently the co-founder and chief technology officer of Samsara, John Bicket also co-founded Meraki. The company came out of research Bicket did while a Ph.D. student at the Massachusetts Institute of Technology. Cisco acquired Meraki for $1.2 billion in cash, although it is actually Samsara that made Bricket a billionaire.

Kim Kardashian in a tight light blue outfit.

Arturo Holmes/FilmMagic // Getty Images

#39. Kim Kardashian

– Age: 42
– Net worth: $1.8 billion (#527 richest in the U.S., #1,559 richest in the world)
– Source of wealth: Shapewear, cosmetics, reality tv

Kim Kardashian, an entrepreneur and television personality, gained international fame after sharing her personal life on the reality TV series “Keeping Up with the Kardashians.” Her popularity has grown thanks to social media, where Kardashian promotes her many endorsement deals and various business ventures, including Skims, her shapewear company.

Orion Hindawi and another man walking together outside.

Drew Angerer // Getty Images

#38. Orion Hindawi

– Age: 42
– Net worth: $2.0 billion (#492 richest in the U.S., #1,414 richest in the world)
– Source of wealth: Software

Orion Hindawi followed in his father’s footsteps by attending the University of California, Berkeley, although he dropped out. With his father, David, he co-founded Tanium, a cybersecurity firm, in 2007. After a $150 million financing round in October 2020, the company’s valuation was more than $9 billion.

Sean Parker in a black suit speaking at a podium.

Gilbert Carrasquillo // Getty Images

#37. Sean Parker

– Age: 42
– Net worth: $2.8 billion (#387 richest in the U.S., #1,033 richest in the world)
– Source of wealth: Facebook

Sean Parker was highly successful at an early age, co-founding the file-sharing service Napster at age 19, and revolutionizing how people consumed music. At 24, he was Facebook’s founding president. Since these early successes, Parker has built up his net worth over time through a variety of business interests such as Spotify.

A home for sale.

BRENDAN SMIALOWSKI/AFP // Getty Images

#36. Mat Ishbia

– Age: 42
– Net worth: $5.2 billion (#196 richest in the U.S., #498 richest in the world)
– Source of wealth: Mortgage lender

Mat Ishbia, the brother of Justin Ishbia, also made his wealth because of United Wholesale Mortgage. Mat Ishbia is chief executive of the company and in 2021, the wholesale lender reported $2.7 billion in revenue.

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Paul Sciarra in a ball cap on the phone outside.

Drew Angerer // Getty Images

#35. Paul Sciarra

– Age: 41
– Net worth: $1.3 billion (#649 richest in the U.S., #2,065 richest in the world)
– Source of wealth: Pinterest

In 2010, Paul Sciarra co-founded Pinterest, a photo-bookmarking website, with Evan Sharp and Ben Silbermann. Although he left Pinterest two years later, Sciarra held onto about 7% of the company, which made him a billionaire. Currently, he is the executive chairman of Joby, a maker of electric air taxis.

Tope Awotona speaking onstage in front of a red and blue background.

Stephen McCarthy/Sportsfile for Collision // Getty Images

#34. Tope Awotona

– Age: 41
– Net worth: $1.4 billion (#643 richest in the U.S., #2,016 richest in the world)
– Source of wealth: Software

In 2013, Tope Awotona, a Nigerian American entrepreneur, started Calendly, his software for online appointment scheduling. It would not be until the COVID-19 pandemic, however, that Calendly really found success. Awotona’s story is an inspiring one, as he spent the last of his savings on Calendly after his first three startups failed.

Richard Saghian in a black suit.

Steve Granitz/WireImage // Getty Images

#33. Richard Saghian

– Age: 41
– Net worth: $2.1 billion (#486 richest in the U.S., #1,405 richest in the world)
– Source of wealth: Fast fashion

Iranian American Richard Saghian started the fast fashion company Fashion Nova in 2006. Every week, Fashion Nova releases hundreds of new styles of clothing, which are promoted by celebrities and influencers on Instagram. Fashion Nova’s annual sales are now greater than $1 billion.

Tyler and Cameron Winklevoss in front of colorful balloons.

Alli Harvey/Getty Images for Spotify // Getty Images

#32. Tyler Winklevoss

– Age: 41
– Net worth: $2.1 billion (#483 richest in the U.S., #1,400 richest in the world)
– Source of wealth: Cryptocurrency

Tyler Winklevoss, along with his brother Cameron Winklevoss, gained a majority of their wealth through cryptocurrency. After reaching a settlement of $65 million from suing Mark Zuckerberg for having stolen what they claim was their idea for a social media platform that became Facebook, they used the money to invest in the cryptocurrency Bitcoin. In 2012, the Winklevoss twins launched the venture capital firm Winklevoss Capital, and in 2014, they launched Gemini, a cryptocurrency exchange.

Cameron Winklevoss in a white t-shirt onstage.

Joe Raedle // Getty Images

#31. Cameron Winklevoss

– Age: 41
– Net worth: $2.1 billion (#482 richest in the U.S., #1,399 richest in the world)
– Source of wealth: Cryptocurrency

The investments Cameron Winklevoss has made with his brother launched them onto Forbes’ Crypto Rich List in 2018. Gemini is known for being one of the cryptocurrency industry’s most trusted and secure platforms for buying and selling cryptocurrency, although with recent controversies in the industry, the company’s staying power remains to be seen.

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Joe Gebbia in a black sweater with a microphone on stage.

Stuart C. Wilson // Getty Images

#30. Joe Gebbia

– Age: 41
– Net worth: $6.5 billion (#146 richest in the U.S., #369 richest in the world)
– Source of wealth: Airbnb

Joe Gebbia co-founded Airbnb in 2008 with business partners Nathan Blecharczyk and Brian Chesky in Gebbia’s San Francisco apartment. The company now offers more than 6 million active listings worldwide, from apartments to luxury yurts.

Brian Chesky holding a magazine onstage.

Kurt Krieger/Corbis // Getty Images

#29. Brian Chesky

– Age: 41
– Net worth: $7.5 billion (#104 richest in the U.S., #286 richest in the world)
– Source of wealth: Airbnb

Before becoming the co-founder and CEO of lodging rental giant Airbnb, Brian Chesky attended the Rhode Island School of Design. In December 2020, the company’s valuation jumped past $100 billion in its U.S. initial public offering.

Anthony Casalena speaking onstage.

Abbie Parr // Getty Images

#28. Anthony Casalena

– Age: 40
– Net worth: $1.0 billion (#716 richest in the U.S., #2,433 richest in the world)
– Source of wealth: Software

In 2003, Anthony Casalena founded Squarespace, the website builder, when he was still a college student. He is also the CEO of the company and has approximately 30% ownership of Squarespace, which went public in 2021 after many traditional brick-and-mortar retailers moved their operations online during the COVID-19 pandemic.

A phone with the OnlyFans app up sitting on a laptop.

Sheldon Cooper/SOPA Images/LightRocket // Getty Images

#27. Leonid Radvinsky

– Age: 40
– Net worth: $1.1 billion (#708 richest in the U.S., #2,386 richest in the world)
– Source of wealth: E-commerce

After founding the online entertainment company OnlyFans in 2016, Ukraine-born Leonid Radvinsky purchased a stake in the company in 2018. Now, he is the company’s majority owner as well as director. As of September 2022, OnlyFans had paid Radvinsky more than $500 million.

Sanjit Biswas sitting in a black leather chair on stage.

Steve Jennings // Getty Images

#26. Sanjit Biswas

– Age: 40
– Net worth: $1.2 billion (#689 richest in the U.S., #2,267 richest in the world)
– Source of wealth: Sensor systems

Sanjit Biswas holds degrees from Stanford and MIT and is the co-founder of Meraki and Samsara. Biswas is the CEO of San Francisco-based Samsara, which is primarily responsible for making him a billionaire.

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Ben Silbermann in a black leather chair on stage.

Steve Jennings // Getty Images

#25. Ben Silbermann

– Age: 40
– Net worth: $1.5 billion (#593 richest in the U.S., #1,797 richest in the world)
– Source of wealth: Social media

The co-founder and CEO of Pinterest, Ben Silbermann grew up in Iowa and attended Yale. Silbermann worked at Google and tried out several product ideas, including iPhone apps, before hitting it big with Pinterest, a website that allows users to save ideas for future purchases.

Lynsi Snyder in front of an In-N-Out Burger restaurant.

MediaNews Group/Orange County Register // Getty Images

#24. Lynsi Snyder

– Age: 40
– Net worth: $4.2 billion (#258 richest in the U.S., #645 richest in the world)
– Source of wealth: In-N-Out Burger

Lynsi Snyder’s grandparents founded the iconic West Coast fast food joint In-N-Out Burger in 1948. Snyder, the company’s president, became a billionaire on her 35th birthday and was the youngest woman on The Forbes 400 in 2018. The nostalgic draw of the chain comes in part because the recipe for its staple items, burgers and fries, remains almost the same as it did more than 70 years ago.

A pipeline being worked on.

shinobi // Shutterstock

#23. Scott Duncan

– Age: 40
– Net worth: $6.6 billion (#139 richest in the U.S., #353 richest in the world)
– Source of wealth: Pipelines

Scott Duncan is the heir to his family fortune. His father, Dan Duncan, founded the pipeline firm Enterprise Products Partners and left Scott and his three siblings a stake in the company when he died in 2010. The company went public in 1998, and from the time of the IPO until Dec. 31, 2020, the company’s asset base increased from $715 million to more than $64 billion.

Jared Isaacman in a black vest.

PATRICK T. FALLON // Getty Images

#22. Jared Isaacman

– Age: 39
– Net worth: $1.5 billion (#619 richest in the U.S., #1,905 richest in the world)
– Source of wealth: Payment processing

As founder and CEO of Shift4 Payments, Jared Isaacman owns 38% of the company’s shares. The payment processing firm was not Isaacman’s first venture, though. Draken International, a defense firm he founded in 2011, earned him a nine-figure sum when he sold a majority stake in the company in 2019 to Wall Street firm Blackstone.

Drew Houston in a white button down shirt in a chair onstage.

Handout // Getty Images

#21. Drew Houston

– Age: 39
– Net worth: $1.7 billion (#564 richest in the U.S., #1,678 richest in the world)
– Source of wealth: Cloud storage service

Not only is Drew Houston the co-founder and CEO of online backup and storage service Dropbox, but he is also the company’s largest shareholder, with more than 20% ownership. In February 2020, Houston was appointed to Facebook’s board of directors.

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Brian Armstrong speaking onstage.

Steve Jennings // Getty Images

#20. Brian Armstrong

– Age: 39
– Net worth: $1.9 billion (#525 richest in the U.S., #1,553 richest in the world)
– Source of wealth: Cryptocurrency

Brian Armstrong’s cryptocurrency business Coinbase was valued at an estimated $68 billion in March 2021, prior to its direct listing on the NASDAQ. Achieving billionaire status led Armstrong to philanthropy. In December 2018, he signed the Giving Pledge, vowing to donate much of his fortune to philanthropic causes.

Nathan Blecharczyk in front of a pink background.

Mike Windle // Getty Images

#19. Nathan Blecharczyk

– Age: 39
– Net worth: $6.6 billion (#143 richest in the U.S., #360 richest in the world)
– Source of wealth: Airbnb

Nathan Blecharczyk’s sizable fortune is a direct result of co-founding the lodging site Airbnb. Also the company’s chief strategy officer and first engineer, Blecharczyk serves as chairman of Airbnb China. In October 2019, Blecharczyk gifted his alma mater, Boston Latin Academy, $1 million, with a promise to match any other donations to the school up to $1 million.

Kevin Systrom sitting on a pink velvet couch.

Vivien Killilea // Getty Images

#18. Kevin Systrom

– Age: 38
– Net worth: $1.2 billion (#685 richest in the U.S., #2,257 richest in the world)
– Source of wealth: Instagram

Facebook purchased Instagram, the picture-sharing social media app Kevin Systrom co-founded in 2012, for a cool billion in cash and stock. Systrom’s time at Stanford University may have inspired the idea for Instagram, when he built a photo-sharing site for his fraternity brothers.

Dustin Moskovitz in front of a blue Facebook background on stage.

Kimberly White // Getty Images

#17. Dustin Moskovitz

– Age: 38
– Net worth: $6.5 billion (#147 richest in the U.S., #372 richest in the world)
– Source of wealth: Facebook

In 2004, Dustin Moskovitz and Mark Zuckerberg launched Facebook from their dorm room at Harvard. Leaving Facebook in 2008, Moskovitz co-founded the workflow software company Asana, though most of his wealth comes from Facebook. He still holds an estimated 2% stake in the company.

Mark Zuckerberg speaking in front of a blue Facebook background.

BERTRAND GUAY // Getty Images

#16. Mark Zuckerberg

– Age: 38
– Net worth: $40.8 billion (#17 richest in the U.S., #27 richest in the world)
– Source of wealth: Facebook

Mark Zuckerberg is the most well-known and wealthiest of the men who co-founded Facebook. Ranking #7 on Forbes 2020 10 Richest People in the World, Zuckerberg was a 19-year-old sophomore at Harvard when he launched the social media site that would change the world and eventually make him a billionaire at 23.

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LeBron James in a blue and white shirt.

Ethan Miller // Getty Images

#15. LeBron James

– Age: 37
– Net worth: $1.0 billion (#710 richest in the U.S., #2,408 richest in the world)
– Source of wealth: Basketball

LeBron James has made his wealth as a professional basketball player. As a teenager, he was the #1 overall pick by the Cleveland Cavaliers in the 2003 NBA draft and has won multiple titles, Olympic gold medals, and individual awards. James has been just as successful in the boardroom, making deals that give him equity in many rising brands, not to mention lucrative deals with Nike and other big-name companies.

Josh Kushner in sunglasses.

Mario Renzi – Formula 1/Formula 1 // Getty Images

#14. Josh Kushner

– Age: 37
– Net worth: $2.0 billion (#509 richest in the U.S., #1,469 richest in the world)
– Source of wealth: Venture capital

Josh Kushner is a businessman and entrepreneur who co-founded Brazil’s biggest social media company, Vostu, where he is also the CFO. In addition to his work with Vostu, Kushner founded Thrive Capital, where he is the managing partner. Kushner became a billionaire after selling off part of Thrive Capital and other venture investments.

A shopping cart in a Walmart store.

Jonathan Weiss // Shutterstock

#13. Lukas Walton

– Age: 36
– Net worth: $22.8 billion (#28 richest in the U.S., #61 richest in the world)
– Source of wealth: Walmart

Lukas Walton is a member of one of the wealthiest families in America. His grandfather, Sam Walton, founded mega-superstore Walmart. Walton acquired his fortune under tragic circumstances when his father, John Walton, died in a plane crash.

Zach Perret in a black sweater speaking onstage.

Cody Glenn/Sportsfile for Web Summit // Getty Images

#12. Zach Perret

– Age: 35
– Net worth: $1.5 billion (#603 richest in the U.S., #1,850 richest in the world)
– Source of wealth: Fintech

After the passing of the Dodd-Frank Act, which allows consumers to access their banking data, Zach Perret, along with William Hockey, co-founded Plaid. Plaid is a technology that connects money-moving apps with banking data. Since its founding, Plaid’s customers have included Venmo, Robinhood, Coinbase, Microsoft, and Shopify.

Nikil Viswanathan in front of a pink background onstage.

Taylor Hill // Getty Images

#11. Nikil Viswanathan

– Age: 35
– Net worth: $2.1 billion (#476 richest in the U.S., #1,375 richest in the world)
– Source of wealth: Blockchain technology

Nikil Viswanathan is the co-founder of Alchemy, a blockchain development platform where he is also CEO. Before working at Alchemy, Viswanathan was the co-founder and CEO of Down To Lunch, a meet-up app that was popular among college students.

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Bobby Murphy and two other men in suits in front of a yellow backgound onstage.

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#10. Bobby Murphy

– Age: 34
– Net worth: $2.5 billion (#434 richest in the U.S., #1,194 richest in the world)
– Source of wealth: Snapchat

The co-founder and chief technology officer of Snap Inc., Bobby Murphy came up with the idea for the social media app Snapchat with his fraternity brothers Evan Spiegel and Reggie Brown when the trio attended Stanford University. While Murphy’s billions come from Snapchat, he has also invested millions in California real estate.

William Hockey with a microphone.

Cambrian // Wikimedia Commons

#9. William Hockey

– Age: 33
– Net worth: $1.4 billion (#628 richest in the U.S., #1,954 richest in the world)
– Source of wealth: Fintech

Along with Zach Perret, William Hockey co-founded Plaid, where he served as its CTO and president. Hockey is no longer working at Plaid and is now the co-CEO and co-founder of Column, the only nationally chartered bank to enable builders and developers to make new financial products.

A phone showing the Alchemy app in front of a computer screen.

T. Schneider // Shutterstock

#8. Joe Lau

– Age: 33
– Net worth: $2.1 billion (#476 richest in the U.S., #1,375 richest in the world)
– Source of wealth: Blockchain, technology

Along with Nikil Viswanathan, Joe Lau co-founded Alchemy, the software that powers Web3 blockchain-based companies. In February 2022, Alchemy was valued at $10.2 billion. Lau owns an estimated 26% stake in Alchemy.

Devin Finzer speaking onstage.

Rita Franca/NurPhoto // Getty Images

#7. Devin Finzer

– Age: 32
– Net worth: $1.3 billion (#651 richest in the U.S., #2,073 richest in the world)
– Source of wealth: Online marketplace

Devin Finzer is the co-founder of OpenSea, where he is also the CEO. OpenSea is a decentralized marketplace where users can collect, sell, and explore non-fungible tokens.

Evan Spiegel onstage.

Steve Jennings // Getty Images

#6. Evan Spiegel

– Age: 32
– Net worth: $2.7 billion (#395 richest in the U.S., #1,078 richest in the world)
– Source of wealth: Snapchat

The flashier co-founder of Snapchat, Evan Spiegel married supermodel Miranda Kerr in 2017. Spiegel dropped out of Stanford to start Snapchat, although he finally graduated from the university in 2018 with a degree in product design. Both Spiegel and fellow Snapchat co-founder Bobby Murphy own an estimated 18% of the company.

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The OpenSea app on a cellphone in front of a computer screen.

Jens Kalaene/picture alliance // Getty Images

#5. Alex Atallah

– Age: 30
– Net worth: $1.3 billion (#651 richest in the U.S., #2,073 richest in the world)
– Source of wealth: Online marketplace

Along with Devin Finzer, Alex Atallah co-founded OpenSea, where he is also the CTO. In January 2021, the company was valued at $13.3 billion after a funding round.

Palmer Luckey in a Hawaiian shirt onstage.

David Fitzgerald/Sportsfile // Getty Images

#4. Palmer Luckey

– Age: 30
– Net worth: $1.3 billion (#645 richest in the U.S., #2,031 richest in the world)
– Source of wealth: Virtual reality

Palmer Luckey founded Oculus VR, a virtual reality company, back in 2012. He sold this company in 2014 to Facebook, getting $2 billion in stock and cash in return. In 2017, Luckey founded Anduril, a defense startup, which in 2021 had an estimated revenue of $150 million.

A computer screen showing FTX.

Michael M. Santiago // Getty Images

#3. Gary Wang

– Age: 29
– Net worth: $4.2 billion (#257 richest in the U.S., #644 richest in the world)
– Source of wealth: Cryptocurrency exchange

Along with Sam Bankman-Fried, Gary Wang co-founded FTX, a cryptocurrency exchange, where he is also CTO. Bankman-Fried filed for bankruptcy protection for FTX and its operations in the U.S. in late 2022 after FTX collapsed, putting Wang’s future wealth in doubt.

Ryan Breslow onstage in front of a pink background.

Taylor Hill // Getty Images

#2. Ryan Breslow

– Age: 28
– Net worth: $2.0 billion (#504 richest in the U.S., #1,449 richest in the world)
– Source of wealth: E-commerce software

Ryan Breslow is the co-founder of Bolt Financials, where he is its executive chairman. Additionally, he is the co-founder and chairman of Love Health. Breslow has gained a large amount of wealth in a short amount of time because Bolt Financials’ valuation went from $250 million to $11 billion in about three years.

The Scale AI app in front of a computer screen.

T. Schneider // Shutterstock

#1. Alexandr Wang

– Age: 25
– Net worth: $1.0 billion (#727 richest in the U.S., #2,467 richest in the world)
– Source of wealth: Artificial intelligence

Along with Lucy Guo, Alexandr Wang co-founded Scale AI, a data platform for artificial intelligence that provides training data for machine learning teams. Those using Scale AI’s technology include the U.S. military, SAP, Lyft, PayPal, Toyota, and General Motors.

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These 5 charts show the ups and downs of the US stock market over 10 years

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Olive Invest examined historical equities data from S&P Dow Jones, NASDAQ, and others to demonstrate the state of the stock market over the last decade.
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The U.S. stock market is a complicated beast, and with recent events like the COVID-19 pandemic, we’ve seen some volatility in the last few years. Stocks dipped quite a bit during the pandemic but have recovered since.

To get an idea of how the stock market has fared in the last 10 years, watch trends of major market indices—or certain groups of companies’ stocks that give a sample of how the entire market is performing. Perhaps the most well-known market index is the S&P 500, a group of the 500 largest companies on the U.S. stock market.

While the S&P 500 is widely regarded as the best indicator of how the stock market is faring, other market indices can give you a different view based on the type of companies they track. Dow Jones, for instance, follows 30 of the largest companies in the country from various industries. The NASDAQ includes all stocks on the NASDAQ market, largely comprised of tech companies.

By watching the performance of these and other market indices, investors can get a good idea of how the U.S. stock market as a whole has performed over time. Olive Invest examined historical equities data from S&P Dow Jones, NASDAQ, and other data sources to see how the stock market has fared over the last decade.

Chart showing that stock values more than doubled since 2012.

Olive Invest

How stocks have performed over the last decade

This chart shows a significant increase in stock index values from the last decade, despite a brief drop in 2020 during the pandemic. At the start of the COVID-19 pandemic, there was a steep drop-off in index values. However, they bounced back by the end of 2020 into 2021.

Index values have held relatively steady growth across the last 10 years. The NASDAQ, S&P 500, and Dow Jones Industrial Average have all doubled in value since 2012.

A chart showing the Chicago Board Options Exchange volatility index since 2012.

Olive Invest

Tracking volatility

This chart measures the Chicago Board Options Exchange volatility index (VIX index), designed to show how current events and uncertainty affect stock prices. Essentially, the more fluctuation you see here, the more uncertainty investors and the public have about the future, which can significantly impact the market and even help project market crises.

Unsurprisingly, the most significant spike in volatility from the last decade was in March 2020, at the beginning of the COVID-19 pandemic. The last two years have shown a reduction in volatility since this spike, but in general, there is more uncertainty than 10 years prior.

A chart showing the S&P 500 annual return on investment since 2000.

Olive Invest

Rates of return since 2000

The S&P 500’s annual return on investment is a critical indicator of the stock market’s performance. The average return since the S&P 500’s establishment is 11%.

There are a few notable data points here—perhaps the most prominent of which is the Great Recession in 2008. That financial crisis resulted in the most significant drop in the S&P 500 return of the last 20 years. Since the recession, however, the rate of return has been above average almost every year.

Bar chart showing S&P 500 weighting by sector for 2022.

Olive Invest

S&P stocks by sector

The S&P 500 tracks the top 500 U.S. companies on the stock market. Knowing what types of businesses make up the majority of the index is essential to understanding which sectors have the most success.

In 2022, Information Technology made up 26.4% of the S&P 500—an industry high in the last 20 years. Similarly, health care is gaining ground in the previous few years, though it is still short of its historical high.

The financial sector has seen a downturn in the last decade—though this may change with the reclassification of major shares next year.

Chart showing a significant drop in how many publicly traded domestic companies are on the U.S. stock market since 2000.

Olive Invest

Number of publicly traded companies declines

In the last 20 years, there has been a significant drop in how many publicly traded domestic companies are on the U.S. stock market as more companies exit the market and there are fewer IPOs.

The last decade, however, has been far more stable. Experts suggest the change is connected to natural fluctuations and changing dynamics in the market’s major industries. McKinsey attributes a significant portion of the drop-off to acquisitions.

Still, there have been fewer IPOs in the last several years, which can be a disappointment for new investors trying to get in on the ground floor.

This story originally appeared on Olive Invest and was produced and
distributed in partnership with Stacker Studio.

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2023 brings more demand for cloud, web dev, and IT skills for a slew of lucrative tech jobs

Recruitment company Randstad published 2023 lists for Canada’s most in-demand tech jobs and skills.

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Today’s businesses continue embracing digital transformation through automation, cloud systems, and remote work arrangements into 2023. 

Still, skill shortages and employee attrition plague the Canadian workforce. One constant that remains is the demand for highly skilled IT and tech professionals — which just increased by 25% in 2022. 

Recruitment company Randstad recently released roundups of Canada’s most in-demand tech skills and IT and tech jobs for 2023. The good news is prospective workers have ample fields, industries, and salary ranges to consider as they peruse the job market. 

And we’re not just talking about the IT industry. Randstad reminds us that tech professionals are sought after in pretty much every industry, especially banking, administration consulting, employment agencies, and software publishers.

Randstad cites data, security, business system, and quality assurance analysts in their list. These roles require not only technical skills like Microsoft Azure and experience with cloud technology, but also project management skills earned through previous tenures or certifications like the project management professional (PMP) or certified scrummaster (CSM). 

Other in-demand jobs listed include cloud architect and network engineer, positions calling for significant expertise in Java, Python, and cloud technology, on top of other technical and soft skills. 

We also see an increase in average salaries for 2023, jumping from $51,900 to $154,300 in 2022 to $74,000 to $130,600 in 2023. But tech professionals seeking the highest salaries should gravitate toward developer/programmer roles, a position that also made Randstad’s more general best jobs in 2023 list. Notably, the full-stack developer role topped Randstad’s highest-paid jobs list, fetching as high as $130,000.

Randstad also shares a long list of highly sought-after technical skills, from C# and Java to Linux and API. 

While years of professional experience would certainly help today’s prospective candidate, it’s not always a deal breaker. McKinsey reminds us of a curious phenomenon in the tech industry — 44% of tech professionals transitioned from a non-IT role. That’s because companies indeed want qualified candidates with skills, but also seek enthusiastic, hardworking professionals interested in learning and growing with the field’s constant innovations.

Another notable finding was Ranstad’s certification recommendations. These aren’t suitable for beginner tech professionals; rather, they’re a way for an entry-level, associate, or executive professional to easily highlight their prowess on their resumes, like the certified information security manager (CISM) certification. 

Peter Bendor-Samuel, CEO of research firm Everest Group, described the tech demand to Forbes as a result of consistent investment in software-driven operating platforms despite reduced discretionary spending. 

Meaning? 

Companies are cutting out the fluff —  but people who can create and improve technology, security, and cloud computing solutions and systems are certainly not fluff. 

Learn more about Randstad’s 2023 best IT and tech jobs and top skills wanted

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Americans spend $179 on fuel each month—here’s how to spend less

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CoPilot looked into the Consumer Expenditure Surveys to see how much Americans spend on vehicle fuel and suggested ways to lower that expenditure.
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Owning a vehicle comes with a whole host of costs—from insurance and maintenance to parking and tolls. And if the past year has proven anything, it’s that another cost associated with vehicle use—namely fuel—can fluctuate wildly, putting further strain on your bank account for an already costly necessity.

CoPilot looked into the Bureau of Labor Statistics’ Consumer Expenditure Surveys to see how much Americans spend on fuel for their vehicles and used sources from insurance companies, transportation fleet managers, and government agencies to determine some ways to lower that expenditure.

On average, Americans spent $179 per month (or $2,148 annually) on gasoline, other fuels, and motor oils in 2021, accounting for around 3% of overall annual expenses. In terms of finding decisive ways to cut that cost, one front-of-mind idea might be to consider an electric vehicle. EVs are gaining in popularity, the major automakers are investing heavily in an electric future, and the government incentivizes most EV buyers.

While switching to a car with better fuel economy, such as a hybrid or fully electric vehicle, can lead to big reductions in monthly fuel expenses, hybrids and EVs often cost more than their gasoline-only counterparts, and the fuel savings may not offset that difference for a number of years. What’s more, the infrastructure EVs depend on for charging remains in something of a developmental stage, making them a limited alternative to gas-powered vehicles—at least for now.

There are approximately 250 million cars and trucks on U.S. roadways; less than 1% are electric. So for those either not in the market for a new vehicle or simply content to stick with the reliability of gasoline-powered travel, the following list offers a wide range of suggestions, best practices, and easy lifestyle adjustments that can reduce the monthly costs associated with fueling a personal vehicle.

Line chart showing the average monthly spend on gasoline from 2011 to 2021 by income quintile. The higher the income, the higher the average spend.

CoPilot

Wealthy households spend more than twice as much on gasoline

Even as gas prices were at their highest since 2014 (adjusted for inflation), spending on fuel in 2021 increased from 2019 levels by only $54 per year on average. And while the drastic reduction in driving brought on during the height of the COVID-19 pandemic in 2020 had a great impact on fuel spending that year, it does not seem to have extended to significantly changed habits in the following year—driving in 2021 dropped by only 1% when compared with 2019 levels.

Though average spending on fuel in 2021 was high, the lack of an even more dramatic increase due to high gas prices can be attributed mainly to the steady rise in the fuel efficiency of vehicles over the past decade.

Another important consideration raised by this is whether or not the burden of those fuel expenses is felt equally across income levels. Bureau of Labor Statistics data suggests it does not. For those in the lowest income quintile, spending on fuel represented 3.6% of total expenses. The burden decreased for each subsequent income bracket; in the highest quintile, it represented just 2.4% of total costs.

While this disparity might seem minimal when considering the upper limit of the lower quintile’s household earnings is just over $27,000, and the lower limit (or floor) of the highest quintile is $141,000, that 1.2% difference comes starkly into focus.

So while the increase in the fuel economy of newer cars seems to have a relative equalizing force on fuel expenses when taken on average, income disparity implies that those in lower income quintiles do not reap the benefits of those improvements in automotive engineering.

A street car, or a bus-like vehicle for public transit, in downtown Toronto.

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Consider alternative forms of transportation

From their walkability to the accessibility and affordability of public transit, urban areas such as cities offer residents, especially those living in city centers, alternatives to using personal vehicles to get around. This isn’t just beneficial to their health and that of the environment; it also helps people reduce fuel costs.

Overall, those who live in urban areas spent $3,303 less on transportation than those in rural areas in 2021. Fuel expenses accounted for roughly 13% of transportation costs, meaning even those who owned cars in urban areas spent on average $39 less per month on fuel than those in rural settings.

This is not to say, however, that rural or micropolitan areas cannot take advantage of alternative forms of transportation. Small towns across the U.S. have begun to see the value in investing in bike-share programs, using its infrastructure funding to add bike-protected lanes on their streets. This is especially true in smaller college towns, where foot and bike traffic tends to be high.

So whether it’s via bike, scooter, or sneakers, tackling short-distance trips by means other than your vehicle can translate to more cash in your pocket.

A person with their hands on the wheel of a car.

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Keep a close eye on how you’re using your vehicle’s features

The data is clear: Sensible driving makes a meaningful impact on the efficiency of your car.

Frequent braking and acceleration, fast driving, and A/C overuse are a few habits that can increase the overall cost of travel in your vehicle. Using A/C during hot weather can reduce fuel economy by more than 25%, according to the Department of Energy. Parking your car in shade, rolling down your windows at low speeds, and preemptively letting hot air out of the cabin as you begin your journey are a few ways to decrease the impact of heat and make your car more comfortable A/C-free.

The power of a car’s acceleration is something many, if not most, drivers love, and many car buyers put a particular value on speed capability when making their decision. For most vehicles, however, speeding also comes at a cost. For every 5 mph above 50, the cost per gallon of gas increases, depending on your vehicle’s make, model, and year.

Suppose you are driving a 2020 Ford F-150 4WD (incidentally, the bestselling truck in the U.S. since the late 1970s); the difference between going 65 mph and 80 mph is approximately $1 per gallon of gas—meaning what it costs you per 100 miles to hit the highway at 80 is equivalent to the price of an additional gallon of gas or more. Considering the average person drives 13,476 miles per year, keeping to the lower speed (on average) translates into more than $440 in fuel savings.

Coupled with the 15%-30% decrease in fuel economy brought on by frequent braking and acceleration, maintaining steady speeds, accelerating and braking gently, using cruise control, and leaving ample space between your car and the one in front of you can cut your fuel costs while also keeping you safer on the road.

A car's motor receiving an oil change.

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Properly maintain your vehicle

In addition to benefiting its life span, properly maintaining and organizing your vehicle can lead to a small but mighty decrease in monthly fuel expenses.

Keeping your tires inflated to recommended levels, reducing excess weight, and using the recommended grade of motor oil all benefit fuel economy, according to the DOE.

Moreover, and as per basic physics, your car’s fuel use is greatly impacted by aerodynamics; so, while it might seem handy to keep that cargo pod on your roof, or that bicycle rack on your bumper, it can decrease your car’s efficiency by as much as 8% when you’re just tooling around town and as much as 25% on the interstate.

A mobile phone preparing to download the app GasBuddy.

T. Schneider // Shutterstock

Purchase fuel with purpose

An ongoing myth is that premium fuels will make your car more efficient. While they won’t hurt your vehicle’s performance, premium fuel makes no difference for most cars.

There are ways to get more out of your gas purchases through grocery store, gas station, and credit card reward and money-back programs. If you know your habits well enough, you’ll be able to make such programs worthwhile. As per capita gas consumption has hovered in the 350-450 gallon range over the past 20 years, using such programs can translate to big savings.

One of the more effective ways to minimize the price of gas is by using apps and services that, when combined with a little forward planning, allow you to chart out your gas refuels at stations you know will have favorable prices.

Gas prices can fluctuate wildly within a relatively small area. Apps like GasBuddy are built specifically to help you plan around gas price variance and minimize its impact on long trips or high monthly usage. Most navigation tools like Waze or Google Maps also come with built-in gas price features as well.

Bikes available for transportation in a major city.

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Avoid driving altogether

This might seem a rather extreme recommendation, but even if you don’t live near public transit, there are still ways you can reduce the time you spend driving and, therefore, the amount you spend on driving.

Carpooling even a few times a week can lead to many positives, including a decreased carbon footprint and lower fuel expenses. Moreover, carpooling is often supported by corporate incentive programs, so it’s worth looking into at your place of work.

Other options to reduce your reliance on a personal vehicle include riding a bike or e-bike, walking when possible, reducing the number of cars in your household, and coordinating your errands to minimize individual car usage. These alternatives can make a substantive difference not only for your budget but for your health and well-being as well.

Finally, the easiest way to lower your spending on fuel is to spend no money on fuel whatsoever. If you’re able to consider ditching your car entirely, the widespread availability of ride-share and taxi services and car rental agencies can help fill your personal transportation needs when and if they arise.

This story originally appeared on CoPilot and was produced and
distributed in partnership with Stacker Studio.

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