As we are nearing the midway point of 2023, it’s safe to say we are having quite an eventful year. Some lucky entrepreneurs are having an exceptionally good year, as there has been an astounding number of billionaires minted in just the last six months. Let’s take a look at some of the world’s newest billionaires and how they have generated their fortunes.
1. Jason Robins (DraftKings)
Jason Robins is the founder and CEO of the DraftKings sportsbook. 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 an estimated $1.2 billion. While DraftKings revenue has been steadily increasing since the business began, Robins’ increase in net worth is due to the massive DraftKings stock rally over the last 9 months.
Since launching in 2019 at around $10, the stock price has now climbed 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 across the US. As more and more states allow this new industry, DraftKings is steadily gaining more customers.
If we refer to OddsChecker’s DraftKings sportsbook review, we can see that the sportsbook is highly rated and recommended. It’s no surprise that investors wanted to get their hands on some of their shares after the company went public in 2019. However, in the 4th quarter of 2023 until now, DraftKings’ stock has been on a major tear, and this is one of the biggest factors in owner Jason Robins’ newfound wealth.
2. Brian Armstrong (Coinbase)
Over the last year, cryptocurrency and blockchain technology has been in the news constantly. This exciting new sector has drawn both praise and criticism, as well as many interested investors. As the CEO and founder of Coinbase, a US-based cryptocurrency exchange, Brian Armstrong has been reaping the benefits of this media craze. As of this year, his net worth is estimated to be $16 billion.
Coinbase also had an IPO this year, launching its first stock in early May. As the shares debuted at almost $300, Armstrong generated a fortune for himself overnight. With the future of cryptocurrency looking promising, Armstrong is sure to continue building his personal wealth.
3. Kim Kardashian (KKW Beauty, KKW Fragrance, Skims)
This past April, Forbes magazine reported that Kim Kardashian was officially a billionaire. Unlike other entrepreneurs on this list, Kim owes her success to numerous revenue streams. 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. By 2018, KKW Beauty was generating over $100 million a year. While her net worth is sky-high at this point, it’s certainly not sitting around in the bank. Kim’s money is invested in numerous places, from real estate to stocks, and her many companies.
4. Tony Xu (DoorDash)
Tony Xu is the co-creator and CEO of the popular DoorDash food delivery platform. The last year has been exceptionally beneficial for this industry as record numbers of new users have signed up. It’s been said that over 400,000 restaurants across the US and Canada have partnered with the platform.
Xu and his partners decided to strike while the iron was hot and launch their company’s IPO in December amidst a storm of media attention. As one of the hottest stocks to watch, the shares launched at $175. Xu and his two partners are all billionaires as a result and although the price has now settled at $145, the future outlook is promising.
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, Wolf Herd understood that there could be an alternative that was more women-focused. Bumble has since been a huge success. The IPO for this company was this past February. After the exceptional launch, Wolfe Herd is yet another overnight billionaire.
6. Kate Wang (RLX Technology)
As of January 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 emerging technology companies. Before starting RLX in 2018, she was a big part of Uber China where she headed the effort to spread the service in Hangzhou. After trying the 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 almost $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)
Brian Armstrong of Coinbase is far from the only crypto billionaire that was created this year. The 29-year-old Sam Bankman-Fried is the founder of the FTX cryptocurrency exchange and the Alameda cryptocurrency trading firm. While his billionaire status has been confirmed, the exact amount fluctuates as he keeps an enormous amount of his net worth tied up in FTT, the native token used on the FTX exchange.
Over the last 9 months, the entire cryptocurrency market has grown massively. As a result, the FTT token climbed in value as well, making Bankman-Fried a billionaire in the process. FTX processes $15 billion in trades daily, and Alameda manages $32 billion in 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. This year, he turned 18 and inherited 50% of Germany’s largest drugstore chain, Dm-Drogerie Markt. His estimated net worth currently sits at a staggering $3.3 billion. In 1974, Kevin’s father Guenther Lehmann invested in the new drugstore chain. Across Germany, there are now nearly 2000 stores and the company employs more than 40,000 people. However, it’s been said that Guenther Lehmann has not been involved with the company other than investing and Kevin is expected to be a silent partner as well.