Chapter 1

Fara Gray

Nick D'Aloisio, who taught himself to write software programs at the age of 12, stated that he would continue his studies while working at Yahoo's London office. However, it is clear that this British prodigy, who became a teenage millionaire at 17, is undoubtedly one of the hottest topics of the year. According to Nick, he has been interested in computers and software development since he was a child. At 12, he started developing some software programs. By 15, Nick found it cumbersome to click through news articles one by one online, which led him to conceive the idea of designing a program to streamline news. Eventually, Nick successfully developed a program called "Summly" using semantic analysis algorithms. According to Nick's family, he was born in the UK but moved to Australia shortly after birth, returning to Wimbledon, UK, in 2007. He is currently studying at King's College London. When Nick designed the program, he kept his age confidential to attract the attention of investors. He eventually secured venture capital from Chinese billionaire Li Ka-shing.

People are always trying to figure out the connection between accumulating enormous wealth at such a young age and achieving widespread attention in the industry. According to a previous report by Forbes, Yahoo has purchased the automatic news summarization application developed by 17-year-old Nick D'Aloisio. This mobile news reader is called Summly. D'Aloisio developed the software in November of the previous year. Summly can automatically generate a summary of about 100 words from a news article, making it more convenient to present and read on small-screen mobile devices. After its release, Summly not only received praise from Apple but also made it to the list of the best iPhone apps of the year. After the deal with Yahoo, Summly was removed from the Apple App Store, by which time it had been downloaded nearly a million times. Although the specific terms of the deal have not been disclosed, according to the London Evening Standard, Yahoo may have paid D'Aloisio between 20 million and 40 million pounds. The Financial Times reported that Yahoo has spent nearly $30 million to acquire his news application, which will place him among the world's youngest millionaires.

10. Adam D'Aloisio

Born in 1999, 14-year-old Adam D'Aloisio, along with six friends, launched the famous British social networking site Dubit. Dubit became one of the most popular sites in 2004. By 2005, Dubit's net worth exceeded $3.7 million. Adam later founded Clear Thinking, developing software to protect people from online behavior, harassment, and spam. According to the 2011 Sunday Times Rich List, Adam ranks 23rd among the wealthiest young people in the UK. Adam D'Aloisio is estimated to have a net worth of $38 million.

9. Sean Belnick

At just 14, Sean Belnick created bizchair.com, an internet retailer of all types of furniture. Sean Belnick started with an initial investment of $500 and ran the business operations from his bedroom. In 2004, he moved into his first warehouse, and by 2009, he had expanded from an initial 4,000 square feet to over 702,000 square feet of warehouse space. In 2010, bizchair's sales exceeded $58 million. Sean Belnick is reported to have a net worth of $42 million.

8. Fraser Doherty

Fraser Doherty is the CEO of SuperJam. This young Scot, at 14, was taught to make jam by his grandmother. He then started producing and selling jam in the neighborhood. At 16, he left school to focus entirely on SuperJam. In 2007, he began supplying SuperJam to 184 Waitrose stores. Today, Fraser Doherty supplies all major UK stores, with annual sales exceeding $1.2 million. Fraser Doherty is worth $2 million.

7. Cameron Johnson

At just 9 years old, in 1994, Cameron Johnson started making money by selling invitation cards. By 11, he had saved enough money to start his company, earning plenty of cheers and tears. Cameron then worked on several projects, including creating EZ Mail, an email forwarding software, and surfingprice.com, an online advertising company. By 15, he was receiving checks of up to $400,000 per month. Cameron Johnson's current net worth is $3.2 million.

6. Ashley Qualls

Ashley Qualls is the first American entrepreneur to become a millionaire at 17. In 2004, she took an $8 loan from her mother to create a website, whateverlife.com. The site focused on providing HTML tutorials and free MySpace layouts for young people. Ashley Qualls is estimated to have a net worth of $8 million.

5. Chris Phillips

Chris Phillips first reached a net worth of a million at 17, with a website called dot5hosting, which provided hosting services and hosted several e-commerce sites. By 19, this British teenager was making over $10 million a year. Dot5hosting currently has a net worth of $2 million.

4. Juliette Brindak

At just 10 years old, Juliette Brindak launched a website called Miss O, which would later make her a millionaire. The site targets mostly teenage girls, filled with celebrity gossip, games, quizzes, and lots of feature photos. She also launched a Miss O and Friends book. Juliette Brindak now serves as CEO and editor of her website and books, with profits exceeding a million dollars.

3. Catherine and David Cook

At just 15 and 17 years old, respectively, Catherine and David Cook came up with the idea for a social networking site in 2005, which had over 5 million users and nearly dominated Facebook.

The site currently has a net worth of over $20 million, and the combined net worth of the siblings is $10 million.

2. Taylor Dikman

During the early stages of the internet revolution, 15-year-old Taylor Dikman founded Cooltronics in 2000. Cooltronics primarily offered courses on how computer and internet users could get rid of computer viruses and how to upgrade their computer databases. For a time, he was almost a lucky little man, earning dollars from subscriptions and ads.

Taylor Dikman is currently worth $3.7 million.

1. Fara Gray

Fara Gray began selling body lotions at the age of 6. At 13, he founded Farr-Out Foods, which received orders exceeding $1.5 million in its first year, making him a millionaire at 14.

Fara Gray is the youngest millionaire to have an office on Wall Street, with an estimated net worth of $20 million.