It is common knowledge that there are some entrepreneurs who make a lot of money in a short space of time but the best part is that some achieve this fest even as young teens. In fact, some of them become millionaires before they attain the legal age for drinking.
The is no specified age where one can become a millionaire and many of these teenagers today spend their time building skills to help themselves succeed. Some get involved in the stock market while some actually set up their own companies and below are 20 persons who became millionaires before the age of 20
George “Gstar” Abbott
At the age of 16, George had just $600 and ventured into the collection of garbage. He set up personal collection accounts and convinced clients to pick up their waste with his trucks via legal contracts. He also delved into scrap metal recycling and also logistics.George Gstar got involved in the exportation of pharmaceutical medicines abroad to Russia and also The Soviet Union. He is estimated to have had a net worth of about $28 million at the age of 20.
At the age of 15, Adam set a goal to become a millionaire before he turned 21. He developed Mobile Monopoly which teaches people to be mobile marketers. His income today amounts to six figures.
At the age of 16, Koon began the first auto parts firm in New York called Extreme Performance Motorsports. MTV entered into a deal with him that would see him provide products to be used for shows. He also partnered with Young Jerzy in creating a fashion line. Koon is worth about $40 million and there are predictions that he could be a billionaire in the nearest future.
Johnson had a thing for greeting cards before he clocked 11 and his creation of these cards raked in thousands of dollars and helped him set up his own business. He set up an investment strategy called SurfingPrizes.com and the services earn him about $350k every 30 days. In high school, Johnson had a net worth of about $1 million.
David & Catherine Cook
The siblings created MyYearbook.com which is popular in the world of social media. $250k was invested in their idea by their brother and their site has a net worth of around $100 million.
She is 18 years of age and is already working on setting up a third business. Her big earnings began with MyWEBoo built to assist teens in reputation management. She also has a T-shirt firm and set up a business to facilitate marketing to teen.
The tech guru founded Dot5Hosting by the age of 17 which offered Web hosting services. This made him his first million. By the time he clocked 18, he was already taking in $10 million annually.
He turned a body lotion gig, which began when he was 6, into a full-fledged business at age 13. He also owns Farr-Out Food with orders of about $1.5 million by age 14.
At just age 19, Wong oversaw the strategy for business development at Digg. Since then, he has also headed Kiip and raked in about $15million for it via a campaign for Kiip’s capital investment.
Bieber first started out on YouTube and has delved into apparel, fragrance, and more while capitalizing on his status as an A-lister to prove himself a great entrepreneur.
Madison actually earned about $1 million before she even learned to drive. She is a symbol of entrepreneurship. At 15, she created Fish Flops which basically sold flip-flops for teens. She has now delved into other apparel.
Elise partnered with her grannie since she was a kid in making candies. By the time she was 11, she took up a job at a commercial chocolatier. She soon set up the Chocolate Farm and was ranked high by EY and has also received some other accolades.
Athena comes from a popular lineage and is one of the richest millionaire heiresses today. Athena happens to be Aristotle Onassis last surviving descendant, whose wife was Jacqueline Kennedy Onassis.
Scott & Stacey Ferreira
While in college and high school respectively, the siblings created MySocialCloud.com which already has $1 million secured in investment. Their father once worked at IBM and also at Google
At the age of 13, Dominic began to import scooters all the way from the United States. He sold them locally and by the age of 15, he had already become a millionaire. His partnership with is also worth about$10 million.
At 15, Gary was already running his own nightclub. Note that in the UK, drinking ages are not as high as in the United States. At 17, he had already become involved in the management of property and was worth about $20 million by the time he clocked 18.
Micheal is the founder of TakingITGlobal and did this at the age of 17. Today, he invests his time in the expansion of his business in 200+ countries. Michaelis now a public speaker, a well-known consultant, and also gets hosted on talk shows.
Fleck invented Makin’ Bacon and also designed the maiden microwave technology for cooking bacon. The best part is that she did this at the age of 8. Now infomercial circuit’s favorite, she has featured on a lot of talk shows.
Mike had a thing for gambling and delved into online poker when he was just 15 years of age. Pressured by his parents to take up a job, Mike wanted to do something different. He became a millionaire in his teens and is worth over $5 million.
Carl began web design at the age of 12. Today, Carl has a net worth of about $10 million but his first million was made at the age of 19. He is referred to as the Bill Gates of Britain and is a philanthropist.