It’s good to know that there are children who don’t need fame or a talent manager to become a millionaire. There are quite a few teenage millionaires that are worth writing about. These unspoiled teens know the value of hard-earned money which is what every parent wants their kids to learn. Here are people who gained their millions even before graduating high school. It is worth noting that their success has given them great humility which is evident in their desire to creating better communities.
BizChair.com is a website that sells furniture. It was started by Sean Belnick when he was 14 years old. He made an initial investment of $500 and ran the business in his bedroom in 2004. By 2009, he had a 65,000-square foot warehouse and made a $58-million in 2010. BizChair.com’s worth is estimated at $42 million. Now, at 26 years old, he is an active donor of charitable institutions, one of which is the New York organization called Children of Promise.
Fraser Doherty was 14 years old when his grandmother taught him how to make jam. He went into business using his granny’s secret recipes and it was the start of sweet success. SuperJam now sells a million of jars in a year, making $1.2 million of sales in 2011. Fraser Doherty became the iconic Jam Boy and has been featured in many publications around the world. He blogs about his experiences and gives inspirational talks about entrepreneurship. He runs SuperJam Tea Parties which are a gathering of elderly people who live alone. The company also organizes “knitathons” which encourages the public to knit for a good cause.
Farrah Gray is the youngest African-American to be a millionaire in his generation. He started selling body lotion at age 6, getting the courage from his family’s financial challenges. He made his first million at the age of 14 through his company called Farr-Out Foods. In his CNN interview, Farrah said, “According to statistics, I should be in prison or dead by 14.” He also told the story of painting a rock and selling it as a doorstop, a paperweight or bookends. At 24, he is now a motivational speaker and he is the author of the inspirational book Reallionaire. His sense of social responsibility pushed him to put up the Farrah Gray Foundation. This organization provides scholarships to underprivileged kids and promotes entrepreneurship among the young.