Perenna Kei, the world’s youngest billionaire

Forbes recently released its list of the world’s youngest billionaires of 2014. And, believe it or not, the number one spot isn’t claimed by a white guy working for Facebook or Google, but rather by a 24-year-old named Perenna Kei.

The Hong Kong native is a newcomer to the list, displacing former Facebook co-founder Dustin Moskovitz to become just one of four people under the age of 30 on the list, which names 31 billionaires under 40.

Kei, who holds a bachelor’s degree in economics and finance from the University of London, comes by her wealth by overseeing an 85 percent stake in Logan Property Holdings, a real estate agent headquartered in the mainland city of Shenzhen, according to the South China Morning Post, which she owns with her father, Chairman and CEO, Ji Haipeng.

Kei, whose name in Putonghua is Ji Peili, holds liquid assets of at least $6.5 million, according to Wealth-X and lives in Tsim  Sha Tsui.

Perenna Kei (left) and her father Ji Haipeng. Photo credit: That’s Online

Infamy follows fame

Although it may seem that being a savvy businesswoman led Kei to wealth, other reports say otherwise. The real power lies in her inheritance, says the International Business Times, with the company using her Hong Kong status and name to minimize taxes. The problem here is that this allows the company to avoid having to reveal secretive offshore companies owned by her family, which is illegal.

Here’s more:

Speaking to the South China Morning Post (SCMP), an anonymous Hong Kong analyst said: “I don’t think she built this business. She’s a de facto nominee for her father.”

The prospectus states Kei, who acquired a Hong Kong ID card in 2012, is also reportedly a citizen of St Kitts and Nevis, offshore havens in the Caribbean. She owns a number of companies registered in offshore havens, including the Cayman Islands and the British Virgin Islands. Her father is a Chinese national.

Read more here.

Kei isn’t the only woman of color on the list, nor is she even the richest woman in China. Seated at number nine is Yang Huiyan, 32, the richest woman in China with a net worth of $6.9 billion. Huiyan is vice chairman of real estate developer Country Garden.

Other billionaires on the list include Facebook co-founder and CEO Mark Zuckerberg, Dropbox co-founder and CEO Drew Houston and Napster founder Sean Parker.

Check out the full list here

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