NEW YORK DAILY NEWS
Tuesday, March 1, 2016, 6:18 PM
Alexandra Andresen is the world’s youngest billionaire at 19, after inheriting more than 40% of her father’s company.
She’s the new face of young money.
Meet Alexandra Andresen, the youngest billionaire in the world, valued at $ 1.2 billion just out of high school.
At 19, the Norwegian heiress debuted on the Forbes list of the world’s billionaires on Tuesday as the 1,476th richest person in the world.
At that ranking, she’s tied on the list with her 20-year-old sister, Katharina Andresen.
The billionaire sisters each own 42.2% of their family’s investment company Ferd.
“Their fortune is all inherited, but it is remarkable that the three youngest billionaires on the list are all Norwegian,” Kerry Dolan, the assistant managing editor at Forbes told the Telegraph.
She is valued at $ 1.2 billion, making her the youngest billionaire in the world.
Enlarge alexandraandresen via Instagram
Despite her mass riches, she still buys cars second-hand and lives a low-key lifestyle, she said.
Their father, Johan H. Andersen, gave away 80% of his stakes to his two daughters, launching them onto Forbes’s billionaire list.
Analysts suspect that the inheritance was passed down so early for tax purposes, and to position the children to join the family business.
Her sister, Katharina Andresen (right) also owns 42.2% of Ferd, and is tied with Alexandra on the billionaires list.
“In particular, the family is increasingly considered a team of equal partners where seniority and gender do not count anymore,” Oyvind Bohren, a professor of finance at the Norwegian Business School in Oslo said. “The parents more often consider their children their peers, and they find it more natural that their children participate more seriously at the top.”
Despite being the richest teen in the world, Alexandra lives a low-key lifestyle as a dressage competitor who promotes veganism on her Instagram page.
She said she still saves up all her money and her father insists she buys cars secondhand.
When the world first learned about her wealth, she received 500 new friend requests on Facebook, Alexandra said in 2014.
Alexandra’s family grew their fortunes in the tobacco industry, becoming the leading cigarette maker in Norway for over a century, according to Forbes.
They sold the tobacco company for $ 500 million in 2005.