Business magazine Forbes has listed a 19-year-old Brazilian woman as the world’s youngest billionaire in its latest ranking.

Livia Voigt, who has a net worth of $1.1 billion, took this title from an Italian teen, Clemente Del Vecchio, who is just two months older than her.

Livia is the largest individual shareholder of WEG with a 3.1 percent stake and has pulled in millions from dividends. WEG is the world’s largest manufacturer of electrical motors and industrial machinery.

The company, which exports to over 135 countries, was co-founded by Livia’s grandfather, Werner Ricardo Voigt, along with billionaires Eggon Joao da Silva and Geraldo Werninghaus.

According to the company website, “it [WEG] provides global solutions for electric motors, variable frequency drives, soft starters, controls, panels, transformers, and generators."

The 19-year-old Livia, who is still a student at a university in Brazil, currently does not hold a position on the company’s board or its operations, according to Forbes.

However, her elder sister, Dora Voigt de Assis, was also named among the 25 youngest billionaires in the world featured on the Forbes Billionaires List.

The 26-year-old Dora Voigt has a net worth of $1.1 billion with a 3.1 percent stake in WEG, according to Forbes. She has a degree in architecture and also does not hold a position on WEG’s board or its operations.

The recent Forbes Billionaires List for young individuals also featured a number of Indians making waves on the global scene.

Among them are the founders of Zerodha, which is India’s biggest online stock trading and brokerage. Nithin and Nikhil Kamath founded the company back in 2010 and went on to make giant strides in the online stock trading market in India.

Also featured in the list from India are the co-founders of Flipkart, Sachin and Binny Bansal. Flipkart is an e-commerce company which has become India’s favourite online shopping destination.

NB: The net worths were ranked as of March 8, 2024.

With additional files from Forbes

MA/AE