Thursday, March 28, 2024

Top 6 non-famous millionaires who made their wealth as teenagers

Say what you will about the entitled group young millionaires in Hollywood or music, but there are a few things you can’t help but admire young millionares who achieve similar success the old-fashioned way: through hard work. Most of them aren’t famous, weren’t born into money or privilege, and didn’t have endorsement deals lined up around the block. What they did have, though, was an idea, and a determination to see it become a reality.Here is a look at the top 6 non-famous millionaires who made their wealth as teenagers :

1. John Koon: Fashion Financier

John

John Koon is the quintessential American entrepreneur. Opening the first-ever auto parts businesses in New York City, he began making millions in profit at the age of 16 with Extreme Performance Motorsports, a company that became one of the main suppliers for MTV’s hit reality show Pimp My Ride. Not wanting to limit himself to the auto circuit, he decided to give fashion a try and soon launched a clothing company alongside rapper Young Jeezy. Koon earned himself an astounding $40 million in the process and is reportedly on the fast track to becoming a billionaire.

His expansion include the first-ever Asian streetwear couture, a company that specializes in Japanese denim, rare indigo dyes, and cutting-edge secret wash formulas for clothing.

2. Tyler Dikman: Technology Tycoon

tylerTyler Dikman started out earning money like most other kids, by mowing lawns, running lemonade stands, and babysitting. He even did magic shows for birthday parties, charging around $25 for a 30-minute presentation. At age 10, he got his first computer, a Gateway, which he proceeded to take apart and study from the inside out. As he learned more about computers, he began repairing them for his teachers in the eighth grade, which led him to the revelation that he could charge others for repairs on their rigs. It wasn’t long before he was charging $15 per hour.

He ended up landing a babysitting job some time later for the Vice President of Merrill Lynch, Malcolm Taaffe. He was offered an internship by Taaffe, which led to a full-time job around two weeks later. Tyler was put in charge of computer acquisition, setup, training, and troubleshooting. At age 15, he started Cooltronics, a business that repaired computers, as a hobby. By hiring a few friends as employees and working long hours, he nurtured it into a one-stop company that sells, delivers, and sets up PCs for customers.

3. Adam Horwitz: Mobile Monopolizer

adamHaving a goal to create a million-dollar company by the age of 21, Adam Horwitz began launching various start-up websites at 15. He created several that flopped before finally hitting on his first successful venture with Mobile Monopoly, an app that teaches users how to turn a buck with mobile market leads. Sales of the app earned him a six-figure profit, which he used to fund his next idea, YepText, a text advertising service for businesses.

4. Nick D’Aloisio: Smartphone Smackaroos

nicknickNick D’Aloisio set the Internet wires abuzz when it was announced that a smartphone app he created in his spare time had been bought by Yahoo at the purchase price of a whopping $30 million. The Wimbledon school student taught himself how to code at the age of 12—a skill that paid off when he finally created the news app that grabbed Yahoo’s attention. Nicks invested the money he earned from the sale and made millions out of it.

5. Sean Belnick: Chair Change

seanSean Belnick was intrigued at the idea of selling things online—so much so that, at the age of 14, he designed his own website to serve that very purpose. Having a startup budget of only $500 for advertising funds and $100 for web hosting fees, he began selling small items like Pokemon cards to get himself familiar with the process. Before long, he’d switched to selling office furniture on his new site, Bizchair.com—a move that ended up earning him an estimated $24 million by the age of 20.

He now has over 75 employees who work for him, and is setting his sights on the $50 million mark.

6. David and Catherine Cook: Yearbook Yen

David and Catherine CookBrother and sister duo David and Catherine Cook became teen millionaires by creating an online version of the traditional high school yearbook with MyYearbook.com. After moving to Skillman, New Jersey when she was 14, Catherine says she and her brother began flipping through the local yearbook to see if they recognized any of the students at their new school.

Impressed by the idea, their brother Geoff invested $250,000 in start-up money to his younger siblings, who then launched the site. Pitching it as the “Myspace for high school,” they succeeded in getting an estimated 950,000 members to join within the first year alone. Since then, their site has grown into a business with a net worth of somewhere around $100 million, with older brother Geoff working as CEO. The siblings are now looking at options for moving their brand into the global market.

Connect With Us

320,549FansLike
14,108FollowersFollow
8,436FollowersFollow
1,880SubscribersSubscribe

Latest Stories

Related Stories