As we approach the halfway point of 2024, it’s safe to say that we’re living through an eventful year. Some lucky entrepreneurs are having an exceptionally good year, as a staggering number of billionaires have been created in just the last six months. Let’s take a look at some of the world’s newest billionaires and how they’ve built their fortunes.
1. Jason Robins (DraftKings)
Jason Robins is the founder and CEO of the sportsbook DraftKings. Since launching in 2012, DraftKings has become one of the biggest names in daily fantasy sports and sports betting. As of this year, Jason Robins’ personal net worth is estimated at $1.2 billion. While DraftKings’ revenue has been steadily increasing since the business started, the rise in Robins’ net worth is due to the massive rally in DraftKings stock over the past 9 months.
Since its launch in 2019 at a price of around $10, the stock price has now risen to over $50. There were many factors involved in this rally, but one of the most crucial elements has been the legalization of sports betting in the United States. As more and more states allow this new industry, DraftKings is gaining more and more customers.
If we refer to OddsChecker’s DraftKings sportsbook review, we can see that the bookmaker is highly rated and recommended. It is no wonder that investors wanted to get their hands on some of its shares after the company went public in 2019. However, in the fourth quarter of 2024 so far, DraftKings stock has seen a huge surge, and this is one of the main factors for owner Jason Robins’ newfound wealth.
2. Brian Armstrong (Coinbase)
Over the past year, cryptocurrency and blockchain technology has been in the news constantly. This exciting new sector has received both praise and criticism, as well as plenty of interested investors. As the CEO and founder of Coinbase, a US-based cryptocurrency exchange platform, Brian Armstrong has been reaping the benefits of this media craze. As of this year, his net worth is estimated at $16 billion.
Coinbase also had an IPO this year, launching its first stock in early May. When the stock debuted at nearly $300, Armstrong generated a fortune for himself overnight. With the future of cryptocurrencies looking promising, Armstrong is sure to continue building his personal wealth.
3. Kim Kardashian (KKW Beauty, KKW Fragrance, Skims)
Last April, Forbes magazine reported that Kim Kardashian was officially a billionaire. Unlike other entrepreneurs on this list, Kim owes her success to numerous sources of income. She owns several companies, including makeup and shapewear lines, and has gradually built her businesses and fortune over time.
Kim relies heavily on social media and a direct-to-customer approach when it comes to selling her makeup line. In 2018, KKW Beauty was generating over $100 million a year. While her net worth is sky-high right now, it’s certainly not in the bank. Kim’s money is invested in numerous places, from real estate to stocks, and across her many ventures.
4. Tony Xu (DoorDash)
Tony Xu is the co-creator and CEO of the popular food delivery platform DoorDash. The past year has been exceptionally beneficial for this industry, as record numbers of new users have been recorded. More than 400,000 restaurants in the US and Canada are said to have partnered with the platform.
Xu and his partners decided to strike while the iron was hot and launched their company’s IPO in December amid a storm of media attention. As one of the hottest stocks to watch, the stock launched at $175. As a result, Xu and his two partners are all billionaires, and while the price has now settled at $145, the future prospects are bright.
5. Whitney Wolfe Herd (Bumble)
Wolf Herd is the creator of Bumble, the popular dating app that puts women in control. After learning about the industry and gaining experience during her time working with Tinder, Wolfe Herd realized that there could be a more female-focused alternative. Since then, Bumble has been a huge success. The company went public last February. After this exceptional launch, Wolfe Herd has become another billionaire overnight.
6. Kate Wang (RLX Technology)
As of January of this year, Kate Wang is one of the richest self-made women in the world. She is the current CEO and creator of RLX, a vaping company that has become one of the biggest names in the industry. Today, her net worth is estimated to be around $2.9 billion.
Wang is no stranger to tech startups. Before starting RLX in 2018, she was a major part of Uber China, where she spearheaded the effort to spread the service in Hangzhou. After testing local e-cigarette options, she felt she could make a product that was much better. Fast forward to this year and the company is generating nearly $4 billion annually in revenue. It was time to take the company public and in January, RLX launched its IPO with stock prices debuting at $30.
7. Sam Bankman-Fried (FTX Exchange, Alameda)
Coinbase’s Brian Armstrong is far from the only cryptocurrency billionaire to be created this year. Sam Bankman-Fried, 29, is the founder of cryptocurrency exchange FTX and cryptocurrency trading firm Alameda. While his billionaire status has been confirmed, the exact amount fluctuates as he keeps a huge amount of his net worth tied up in FTT, the native token used on the FTX exchange.
Over the past 9 months, the entire cryptocurrency market has grown massively. As a result, the FTT token has also increased in value, making Bankman-Fried a billionaire in the process. FTX processes $15 billion in transactions daily and Alameda manages $32 billion worth of Bitcoin, other cryptocurrencies, and derivatives.
8. Kevin David Lehmann (Dm-Drogerie Markt)
Kevin David Lehmann is one of the youngest billionaires in the world today. He turned 18 this year and inherited 50% of Germany’s largest pharmacy chain, Dm-Drogerie Markt. His estimated net worth currently stands at a staggering $3.3 billion. In 1974, Kevin’s father, Guenther Lehmann, invested in the fledgling pharmacy chain. In Germany, there are now almost 2,000 stores and the company employs over 40,000 people. However, Guenther Lehmann is said to have not been involved in the company beyond investing and Kevin is expected to be a silent partner as well.
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