Can you imagine making over one million dollars while you were still in your teens? The following kids didn’t just imagine it; they did it. Through entrepreneurial skill, astounding levels of self-motivation and a whole lot of creativity, these twenty five teens managed to make a whole lot of money before most of them had even graduated from high school. Many of them started their businesses before the age 10! Although the majority of them became successful through working on the web, a few of them started more traditional businesses and one even made his money through his poker skills. All of them are an inspiration to those kids out there who want to start making money at a young age.
1. Adam Hildreth. This young man was fourteen when he first launched a popular English social networking site called Dubit Limited. By the age of 19, the site had made him one of the richest teens in the UK with an estimated net worth of over $3.7 million. He continues in the business world today. His latest business, Crisp Thinking, is in the foreward-thinking area of Internet monitoring and online child protection.
2. Ashley Qualls. This well-known young woman took an $8 loan from her mother to purchase the domain name Whateverlife.com and by the time she was 17 she had turned it into a million-dollar business selling MySpace layouts to teenage girls.
3. Cameron Johnson. This young man is not only an entrepreneur but a skilled PR genius who has made numerous appearances on talk shows to promote his own work. He started his first business at the age of 9, made $50,000 selling Beanie Babies during the year when he turned 12 and had earned his first $1,000,000 before he had even graduated from high school. In his early twenties today, he authors books and gives lectures about how to become a teenage millionaire.
4. Catherine and David Cook. These siblings were still in high school when they created MyYearbook, a popular social networking website. The site got over $10 million in advertising sales in 2008. They were lucky to have the help of an older brother in getting started in this venture but it’s been their hard work and entrepreneurial spirit that really earned them this kind of cash.
5. Chris Phillips. Back in 2004 there was a web article about the UK’s richest teens. Most of those teens were celebrities or kids who had gotten money from their parents. However, there were also a few entrepreneurial teens on the list including Chris Philipps who had made nearly £2 million as a teenager operating his own web company.
6. Fraser Doherty. Not every kid starts their business on the web. Fraser Doherty is an example of a young man with a more old-fashioned approach to business. At age 14 he started making and selling homemade jam. Before he was out of his teens, he had managed to launch a business called SuperJam which has an estimated worth of over $2 million based on current sales of $1 million annually. With a good heart he reinvests some of that money into charity work.
7. James Murray Wells. This English entrepreneur was still in college when he saw a great business opportunity. He saw that there was no UK online retailer selling eyeglasses. He used his college loan money to start just such a business and it was successful enough to earn over $1 million during its first year in operation. By last year it was being called a “£4m-turnover recession proof” business.
8. John Magennis. This web designer began working when he was 14. He started out charging just $15 to create a website for a company. Soon he was charing $30,000 per website. Within two years of his work as a web designer he was earning half a million dollars annually.
9. Tyler Dikman. This kid was a computer genius before others took having a home computer for granted. He set up a business helping people buy and use computers. Eventually he founded a computer company called CoolTronics which earned him over $1 million before the age of 17.
10. Farrah Gray. Talk about starting young, this student was 10 when he managed to get together with a group of friends and generate over $12,000 for his young business club. By the age of 12, he had gotten his first $1 million in investment money. Between the ages of 12 and 16 he operated a number of different businesses at least one of which, Farr-Out Foods, generate over $1.5 million in income. He has continued on in business making money hand over fist and also does a variety of public speaking and authoring.
11. Juliette Brindak. By the age of 19 this young woman was worth over $15 million. Of course, it helps that she’d already been in business for nine years at this point! She founded a site called Miss O and Friends when she was 10 and has been doing well for herself ever since. At age 16, she authored a successful book and she continues to serve as an inspiration to female kids interested in business.
12. Michael Furdyk. This kid’s story is like that of many young dot.com success stories. He launched a web business, it did well and he sold it for over $1 million. That put him on the Oprah show. He was 17 at the time.
13. Matt Wegryzn. This young man made his fortune in the business of buying and selling domain names. Some of the individual domains that he’s sold have gone for over six figures each. He was 17 when he got started.
14. Paul Bourque. Have you ever wondered if the business of affiliate marketing is a lucrative one? Look no further than this 19-year-old who is earning over $300,000 per month from his work in this area of the web industry.
15. John and Patrick Collison. These brothers were 17 and 19 when they set up a software business that rapidly grew and sold for millions of dollars. They are among the richest young adults in Ireland.
16. Abbey Fleck. This girl became famous when she invented a product called Makin’Bacon at the tender age of 8. The product cooks bacon in such a way as to reduce the fat content of the food without taking away its flavor. The product was such a success that she now earns over $1 million annually in royalties from the Makin’Bacon business.
17. Richie Stachowski. At the age of 12 this boy invented something called Water Talkies which allows you to communicate under water. This is just a fun water toy but it’s done well among kids. In fact, it’s done so well that it rapidly started earning him over half a million dollars per year.
18. Mike McDonald. This enterprising young man went a different route than most teen millionaires with his talents. He got involved in the world of professional poker playing. Scoff if you want but he’s earned millions from his poker skills. He earned $1.4 million in just one large poker game last year. He was 18 years old.
19. Carl Churchill. This UK web designer has been called the British Bill Gates. He started his business at the age of 12. By 19 he was making a turnover of over one million pounds. He is predicted to be worth over £100 million by 2020.
20. Brett Klasko. This young man was only 14 when he first became a business executive. At 17 he was running a multi-million dollar financial dot-com company. He serves as an inspiration to young business people today.
21. Anand Lal Shimpi. He was just 17 when he created www.anandtech.com and it was already earning over $1.5 million dollar in ad revenue that year. It continues to be a highly successful tech business today. He remains the CEO and Editor-in-Chief of the organization.
22. Jayson Meyer. Building customized computers can be worth a lot of money as this young man knows since his company doing just that was earning over $1.5 million in revenue by the time that he was 17.
23. Ephren Taylor and Michael Stall. These two paired up to launch a business called GoFerretGo which helps teens find employment. The site was quickly valued at over $3 million. Taylor had started into business when he was only 12 making videogames.
24. William Felix. How successful can a lawnmower company be? It can be a million-dollar business if you’re good at which was proven by the success of this seventeen-year-old.
25. Sean Belnick. This kid was 14 when he spent just three days forming a business plan and creating a business called BizChair which sells office furniture and other supplies. In less than half a dozen years, he was earning $50,000,000 per year! The business consistently ranks among the top retail businesses in the world.