These past few years, the terns has been shifting from office jobs to entrepreneurship. From working at a job to creating one yourself, because let’s face it, the job market has been on the decline for quite some time. Competition is so high that getting a job through job searches is very difficult. Hence people, especially the younger generation, has started turning towards alternative income sources. Who says you need a lifetime to make a fortune? Here at SEM, we believe anyone can get rich. And listed below are some teenagers who prove us right. With their talent and their proactive minds, they have made possible the impossible. So read on, for the top 10 richest teen entrepreneurs in the world in 2012, and be inspired!
1. Jon Koon – $80 Million
The Chinese-American youngster was only 16 when he started business. Initially, he started purchasing car parts from international supply chains, and teamed up with a mechanic to give a new whole new finish to cars, including visual as well as performance customizations. He then moved on to fashion and styling, and his company, Tykoon Brand Holdings owns many brands across the globe, and is estimated to be worth $80 Million.
2. Ritik Malhotra
Ritik Malhotra is a brilliant youngster who started learning programming at a mere age of 8! He started a comics website when he was 12. He also started a gaming website an year later and then a web forum, which attracted 6.5 Million visitors! He then ran a web hosting company that multiplied his investment more than 600 times! He is also the co-founder of the Silicon Valley Prep academy that educates students in areas such as math, computer sciences, communication skills etc. Although his full wealth is currently un-disclosed, the revenues from this academy are said to reach as high as $45,000 in one year alone!
3. Sean Belnick – $58 million
Sean Belnick started a small furniture business when he was only 14. Back then, the concept of ‘online-businesses’ was relatively new. So he started a website BizChair.com, where he sold office chairs initially. His business gradually expanded, and now, it is a full scale furniture dealer. His company, Belnick, is estimated to be worth around $58 Million.
4. Ray Land
Ray land is a coordinator and travel planner. He started planning small trips when he was 14, and at age 17, he bought a coach to provide for the travel needs of passengers. His company, Fabulous Coach, now owns more than a 100 coaches, limousines and other vehicles operating across Northern America.
5. Brian Wong
Brian Wong was 19 when he started a mobile rewards network. He had the inspiration during his travels. Now, he has partnered with over 40 companies, offering rewards for more than 400 games. Just imagining setting a new record in doodle jump and getting a $10 McDonald’s gift card in return! He has raised more than $15.4 Million to date.
6. Jack Uesugi
Jack has a t-shirt printing business, a1000x, that takes the work of local artists that would otherwise go un-noticed, and prints it into t-shirts. The company grosses more than $5,000 per month.
7. Cory Levy
Cory Levy is the creator of the social media app One, an app that allows individuals to list all the things they love to a personal profile, and that then connects those individuals to others in the nearby area who share some of those interests. He also founded the NextGen Conference, an event that brings top-tier investors and young thinkers like Cory together to create a world-class network of innovative minds.
8. Sujay Tyle
Effected by a poor eyesight, Sujay Tyle and his brother embarked on a mission to reduce blindness and other eyesight problems among multitudes of people. They offer cheap treatment in under-developed areas of India where such treatment is not available. They have been able to restore sight for more than 10,000 people to date.
9 & 10. Catherine and David Cook
With an initial investment of $250,000, the brother and sister started a website myYearBook, a social network aimed at the students’ realm. The site company has since been sold for $100 Million to the Quepasa company, and renamed to MeetMe.