A report released by Forbes this week listed all the billionaires in the world.
In total, there are 2,688 billionaires globally, 785 of them living in the United States. California is home to more billionaires than any other state, with 186 billionaires living in the golden state.
But of all these billionaires, only one can lay claim to being the youngest. So let's take a look at the youngest billionaire in Los Angeles.
The youngest billionaire in Los Angeles
25-year-old Pedro Franceschi is the youngest billionaire in Los Angeles and, in fact, the second youngest billionaire in the world. He has a current net worth of $1.5 billion.
Franceschi is the co-Founder and co-CEO of Brex, a company reimagining financial systems for fast-growing businesses.
When he was 11, Franceschi became famous in his home country of Brazil for hacking the iPhone’s software to get the Siri to understand Portuguese. That feat landed him a speaking gig at a Tedx conference and a software engineer job at a startup while still in high school.
In 2012, when he was a high school senior in Brazil, he engaged in a Twitter argument with Henrique Dubugras. The two connected and launched a payments startup called Pagar.me one year later. Just two years later, the duo sold their business for "tens of millions" to Stone, one of the largest payments companies in Brazil.
After the sale, the two went to Stanford to study, but both dropped out after just eight months to start a new business- Brex.
Brex launched in San Francisco but soon moved to Los Angeles as Francesci and Duburgras wanted to live in a city with warmer weather.
This year, thanks to a new round of investment funding in January, Brex was valued at $12.3 billion. This made the two co-founders billionaires.
It also made Pedro Franceschi the youngest billionaire in Los Angele and the entire United States.
It's been a meteoric rise to fortune for Franceschi and one that looks like it will continue.
Readers, what do you think of Franceschi's story?
Please leave your comments below.
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