Wednesday, 2 March 2016

Norway Horse Rider Becomes World’s Youngest Billionaire

A horse rider from Norway has become the world's youngest billionaire after amassing a $1.2billion fortune at the age of just 19. Forbes magazine has named Alexandra Andresen, a professional dressage competitor, on their list of people from around the world worth at least one billion dollars. 

It is the first time the teenager and her sister Katharina, aged 20, have appeared on the list and they are ranked as the 1,475th richest people in the world.

Miss Andresen accumulated her personal fortune after her father Johan F. Andresen transferred his stake in Norway's biggest company, Ferd Holdings, to his daughters in 2007.

Her family had made a fortune in the tobacco industry and her great, great, great grandfather founded Norway's biggest cigarette producer.

The company was sold for $500million in 2005 and the money then invested in property and hedge funds.

Two years later her father gave 80 per cent of his shares in the company Ferd Holdings to Miss Andresen and her sister.

The sisters made the list this year for the first time as they both now are above 17 and are required to publish their tax returns, meaning their personal fortunes were made public.

But despite her incredible personal wealth, Miss Andresen appears to be more at home with her horses and lives in Germany where she rides professionally.

She has won several accolades on her horse Belamour at the European Junior Riders Championships.

Topping the Forbes list is Microsoft founder Bill Gates with a personal fortune of $75billion. He is followed by Zara owner Amancio Ortego and then business magnate Warren Buffet.

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