Livia Voigt, from Brazil, is the youngest billionaire in the world. Despite being only 19 years old and still studying, she owns minority shares in WEG, an electrical equipment manufacturing company founded by her late grandfather, which has generated approximately US$1.1 billion in income. Every year, trillions of dollars are predicted to change hands as wealthy individuals enter old age and pass on their wealth to their descendants.

The presence of this heritage regeneration marks the beginning of the long-awaited transfer of wealth between the aging population worldwide. According to the US Central Bank or Federal Reserve (Fed), the Baby Boomers generation and their parents (those born in 1964 or earlier) possess $95.9 trillion out of $147.1 trillion in household wealth in the US.

Age: 19 years Nationality: Brazil Wealth Source: Industrial Machinery Net Worth: US$1.1 Billion Pedro de Godoy Bueno is the youngest billionaire in the world, born in Brazil. He owns shares in the industrial machinery company WEG and is currently pursuing a degree in psychology at the university.

Age: 19 years Nationality: Italy Source of Wealth: Eyewear Net Worth: US$4.7 Billion Clemente Del Vecchio is the fourth heir of the eyewear wealth. He holds shares in Delfin, a company that owns shares in EssilorLuxottica and other major companies.

Age: 20 years Nationality: South Korea Source of Wealth: Online Games Net Worth: US$1.4 Billion Kim Jung-youn and his brother own shares in the game developer Nexon, which has generated significant wealth for them through dividends and share ownership.

Age: 21 years Nationality: German Source of Wealth: Drugstore Net Worth: US$3.3 Billion Kevin David Lehmann inherited shares in a leading drugstore brand in Germany from his father. Although not involved operationally, his ownership of shares has made him a young billionaire.

Age: 22 years Nationality: South Korea Wealth Source: Online Games Net Worth: US$1.4 Billion Kim Jung-min is a shareholder in Nexon, a leading South Korea-Japan online game publisher founded by his father.

Age: 22 years Nationality: Italian Wealth Source: Glasses Net Worth: US$4.7 Billion Luca Del Vecchio is the sibling of Clemente Del Vecchio and holds shares in the same company, Delfin.

Age: 22 years Nationality: French Source of Wealth: Inheritance Net Worth: US$2.5 Billion Remi Dassault inherited his wealth from his father, who died in a helicopter accident. His wealth comes from shares in software companies and aircraft companies.

Age: 25 years Nationality: Irish Wealth Source: Diversified Net Worth: US$4.9 Billion Zahan Mistry holds shares in the Tata conglomerate and the Shapoorji Pallonji Group construction company.

Age: 31 years Nationality: United States Source of Wealth: DoorDash Net Worth: US$1.2 Billion Stanley Tang is one of the founders of DoorDash, a successful food delivery company in the United States.

Age: 31 years Nationality: United States Source of Wealth: Virtual Reality, Defense Technology Net Worth: US$2.3 Billion Palmer Luckey is the founder of Oculus VR and Anduril, two successful companies in the field of virtual reality and defense technology.