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City Index Reveals The Top 10 Youngest UK Billionaires Of 2023
22 Dec 2023
City Index, a global spread betting, FX and CFD Trading provider, reveals the top 10 youngest UK billionaires in 2023. The study reveals 12 out of the 13 of UK’s top 10 youngest billionaires are male, with just Denise Coates making it as the only female on the top 10 list.
In a recent study by City Index, analysts predict a continuous decline in the net worth of the world's wealthiest individuals, standing at $12.2 trillion, down from $12.7 trillion in March 2022.
The average age of billionaires is decreasing, plummeting by 11 years since 2014, from 58 to 47. City Index delves into Forbes data, spotlighting the youngest billionaires worldwide, revealing intriguing insights into their industries, wealth, and demographics.
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Top 10 Youngest UK Billionaires: Key Findings
According to the study, Ben Francis, 31, and CEO of Gymshark, emerges as the UK's youngest billionaire, boasting a net worth of £1.02 billion. His fitness clothing brand Gymshark, founded in 2012, has seen remarkable success, with Forbes estimating Francis' 70% stake at $1.2 billion.
The study also highlights the top 10 youngest UK billionaires include a diverse range of sectors, with hedge fund manager Michael Platt leading in net worth at £12.6 billion. Notably, Denise Coates is the sole female on the list, ranking 294th on Forbes' billionaire index, with a net worth of £6.2 billion.
According to the study, female billionaires in the UK are, on average, 66.5 years old, compared to 68 for males, with an average net worth of £4.24 billion—27.5% more than their male counterparts.
Top 10 Youngest UK Billionaires: Individual Spotlights
Amongst the top 3 youngest UK billionaires are Ben Francis, Nik Storonsky, and Alexander Genko. Ben Francis, the visionary behind Gymshark, embarked on his entrepreneurial journey at Aston University. The company's breakthrough came through Francis' strategic use of social media, with his 70% stake now valued at £1.02 billion.
Revolut founder Nikolay Storonsky, at 39, is the second youngest male billionaire in the UK, boasting a net worth of £2.6 billion. Revolut, the fintech startup launched in 2015, has achieved monumental success, estimated to be worth £26 billion.
Denise Coates, aged 55, is the only female in the top 10, with a net worth of £6.2 billion. As the founder of Bet365, one of the world's largest online gambling companies, Coates' success in the industry is reflected in her ranking at 294th on Forbes' billionaire index.
The other young billionaires in the list are Saket Burman, Andrey Andreev, Will Adderley, Christopher Rokos, John Coates, Michael Platt, Denise Coates, Alex Beard, Simon Nixon, and Christopher Hohn.
