When we hear about the richest children in the world, we instantly think of kids who are born into rich families. The first people that come to mind are the royal babies of Prince William and Kate Middleton, the Jolie-Pitt children, or Bill Gates’ kids. But did you know that there are also self-made millionaires who are under the age of 20?
That’s right. There are kids and teenagers who are already earning their own millions. As of April 2018, these are six of the richest self-made millionaires, based on their net worth, who are under 20 years old.
Ryan ToysReview, 7
Estimated Net Worth: $11 million
Some of the richest YouTubers arePewDiePie, Smosh, and Jake and Logan Paul. But the youngest and one of the most profitable YouTubers is a seven-year-old! With 13 million subscribers at the time of writing, Ryan ToysReview is a family-run YouTube channel that features a kid named Ryan who unboxes and reviews various kids’ toys. As his YouTube bio claims, “Toys Review for kids by a kid!” And that’s probably why he became internationally famous – honest toy reviews by an actual kid.
Jaden Smith, 19
Estimated Net Worth: $8 million
If your parents are superstars, you don’t have to work at all and still be rich. But like Will Smith and Jada Pinkett Smith, their son Jaden is a passionate artist who won’t let his talents go to waste. His movies, including The Pursuit of Happyness and The Karate Kid, have largely contributed to his worth, but Jaden is also a rapper, singer, and songwriter. He also owns a clothing brand and is a partner in a spring water company.
Rico Rodriguez, 19
Estimated Net Worth: $7 million
Best known for his role as Manny in the family sitcom Modern Family, Rico earns $20,000 per episode of the show. He and his Modern Family castmates won the Outstanding Performance by an Ensemble in a Comedy Series award at the Screen Actors Guild Awards for four years in a row (2010-2013). Aside from being an actor, he also wrote a book, Reel Life Lessons… So Far published in 2012.
Willow Smith, 17
Estimated Net Worth: $4 million
Also on this list is Jaden’s sister, Willow. Remember the hit song Whip My Hair and the little girl in the video? Yup, that’s her and she’s 17 now. Her debut single sold about 1.31 million copies, earning $1.7 million in October 2010. Although best known as an R&B singer, Willow started as an actress and has starred in I Am Legend’and in Madagascar 2: Escape to Africa. She remains active in the music industry and is an ambassador for a project that supports kids in Africa who were orphaned by AIDS.
Ben Pasternak, 18
Estimated Net Worth: $4 million
At 14, he created his first app, Impossible Rush. Who knew that an app born out of boredom in his high school class would change his life? And due to the success of Impossible Rush in the iOS App Store, he created a follow-up, Impossible Dial, which also became a success. Then at 15, Ben was the youngest person to receive venture capital in technology for his third app, Flogg. In 2016, Ben co-founded another app, Monkey, which was sold to HOLLA Ltd. in 2017.
Jackie Evancho, 17
Estimated Net Worth: $2.5 million
Since 2009 (at age nine!), Jackie has released an EP that reached platinum status and seven albums. Before she finished 2nd place in America’s Got Talent fifth season in 2010, she has alreadygained attention from all over the world via her independent releases and viral videos of her performance as a classical crossover singer. Her platinum-selling O Holy Night EP made her the best-selling debut artist of 2010.
If these kids did it, you can do it, too! All it takes is patience and determination. As cliché as it sounds, but being patient and determined can get you anywhere you dream to be, that’s for sure. Maybe you’re not an entertainer or a tech prodigy, but there are many other ways to become financially successful. Let these kids serve as an inspiration for you to become more resourceful and smarter with your choices in life.
Even if you’re past 20, it’s not too late! There is no required age for becoming successful. The first step to wealth is arming yourself with smart money management skills. Get started with the help of insightful blogs and success stories. Even entertainment materials, including movies, graphic novels, and comicstackle real-life scenarios thatcan help you get a better grasp of how to get your finances in order.