British Gymshark founder, 31, among Forbes' youngest billionaires in the world rich list with whopping $1.3billion fortune

Gymshark founder Ben Francis, who dropped out of university to build a sportswear empire, is the only British entrepreneur to make Forbes’ youngest billionaires rich list after amassing a whopping $1.3billion fortune.

The 31-year-old, who was awarded an MBE by Prince William last May, is one of 25 young billionaires to make the list who are worth a staggering $110 billion when combined together.

This year, the 25 youngest people on the Forbes’ World’s Billionaires list are all 33 or younger. Most have had a lot of assistance on the way – but a few are self-made, including Francis.

Other self-made billionaires on the list include 33-year-old Snapchat founder Evan Spiegel ($3.1billion) and 31-year-old Oculus VR tycoon Palmer Luckey ($2.3billion).

In the early 2010s, the Gymshark boss was juggling lectures at Aston University, working at Pizza Hut and lifting weights at the gym – but it was his hunger for fitness that he craved the most.

Francis, now 31, pictured in Gymshark gym gear with his model wife Robin Callant. The pair welcomed twin sons into their lives on December 24 2022

Francis posted this picture of himself to Instagram with the caption: ‘From the sewing machine to 10 Downing Street’

Francis dropped out of university in 2012 to focus on his business full time, while initially continuing to deliver pizzas around Birmingham to pay the bills.

Top six youngest billionaires 

1. Evan Spiegel (33) – Snap Inc – $3.1billion

2. John Collison (33) – Stripe – $7.2billion

3. Shunsaku Sagami (33) – M&A Brokerage – $1.9billion

4. Jonathan Kwok (32) – Real Estate – $2.4billion

5. Mark Mateschitz (31) – Red Bull – $39.6billion

6. Ben Francis (31) – Gymshark – $1.3billion

Source: Forbes

Alongside his friend Lewis Morgan, Gymshark used to sell supplements which they bought in bulk for a small profit. But when they moved into sewing and screen printing gym clothing, their sportswear brand took off.

Morgan sold his £125million stake in the company to private equity firm General Atlantic in 2020, but Francis still owns 70 per cent of the popular brand and remains as CEO.

Francis told a podcast in November that he ‘never thinks’ about being one of the youngest billionaires in the world. He said: ‘I don’t see it as a measure of success. and I think it’s all on paper. I think people assume that there’s some bank balance with my name on somewhere that has billions which is just completely untrue.’

Gymshark, headquartered in Solihull, the West Midlands, is worn by some of the world’s biggest celebrities and influencers from Rita Ora to Nicole Scherzinger.

The brand – which now sells in 230 countries – has had a couple of hiccups along the way, including when it was accused of ‘virtue-signalling’ in 2020 after it used pictures of a model with her love handles on show.

‘Fat-phobic’ followers claimed influencer Nelly London, from Brighton, ‘had no business’ promoting the brand’s fitness wear and claimed they would boycott the ‘woke warriors’ over the range.

However, the entrepreneur has gone from strength to strength in his life, living a life of luxury as a self-made billionaire.

Francis has gone from a 19-year-old balancing making gym clothes in his parents’ garage to becoming the UK’s youngest billionaire

Robin pictured on the beach in Dubai, UAE, in front of the Burj Al Arab

The brand is loved by celebs including the likes of Nicole Scherzinger

Francis, who was awarded the EY UK Entrepreneur of the Year Award in 2020, married Robin Gallant, from Canada, in September 2021.

READ MORE: Gymshark tycoon, 30, who dropped out of university to make gym leggings is named UK’s youngest billionaire after being named on Forbes list with $1.2bn net worth – as photos reveal his VERY glamorous lifestyle  

The pair welcomed twin sons on December 24 last year after announcing publicly that Robin was pregnant three months prior.

They initially met after Francis asked her to promote his brand on her social media. Since then, she moved from her home in Canada to live in the UK with him.

Across both their social media pages they can be seen enjoying lavish holidays abroad in places such as Dubai and Australia.

Francis said much of the secret to his success has come from using social media influencers with large followings to wear the brand and spread the word online.

The young father has gained such popularity that he was even invited to join the then Prime Minister Theresa May’s Small Business, Scale-Ups and Entrepreneurs Business Council at 10 Downing Street.

He has also since been awarded an honorary Doctorate of Business Administration from Aston University, which he dropped out of in 2012.

Francis and Robin attend a premiere for the hit series TV show Peaky Blinders

The Gymshark founder receiving his honorary Doctorate of Business Administration from Aston University in May 2023

Francis’ co-founder Morgan previously opened up about how he stepped back from the sportswear empire.

Working on Gymshark while living at his parents house, Morgan had a job as a potwash and a retail assistant in Burton while studying, which he describes as ‘four years of mayhem’.

Despite his soaring success as a businessman, Morgan said that he’s most proud to step back and look after the people he loves most.

Speaking to the Mirror Online he revealed: ‘I just wanted to step back and look after the people I love most. You get to a point where money isn’t everything. I just wanted to enjoy my life.’

‘It’s incredible. I am very proud to be in the position I am. When we first started we never thought we would be where we are but every year we knew we were bigger and bigger.’

Discussing how he started the business, Morgan explained that his friendship group dwindled quickly at University, as he went to ‘make money on the side doing whatever’ while most people went to ‘go out and drink’.

The business markets itself using fitness influencers, who have large social media followings

Gymshark sends free products to social media influencers around the world

The brand is known for his muscle-enhancing gym wear which is promoted extensively through its own Instagram channel

Fans of the fashion brand post photographs of themselves wearing the gear on Instagram

The Gymshark founder posts on his instagram the brand’s new shipping containers

Ben switches the Gymshark clothes for a suit in what looks to be a business meeting

While working as a delivery driver for Pizza Hut, Francis dropped out of university to focus on his brand full time and in 2020 it was valued at over £1billion.

Before that, his grandmother taught him how to sew and he set up a workshop in his parents’ garage in Birmingham, complete with a sewing machine and screen printer.

He managed to make around 10 pieces a day, but had to work around his degree and part-time job.

During the pandemic it was revealed that Francis donated £180,000 to Birmingham’s women’s and children’s hospital where his mother works.

He also opened a pop-up store in Covent Garden, rebranding itself Homeshark.

The firm did not place any of its staff on the government’s furlough scheme.

Francis said: ‘We are going to weather the storm… we don’t want to put any unnecessary pressure on the government.’

He handed over the business to sportswear expert Steve Hewitt, who has had senior jobs at Reebok and Adidas and is now Gymshark’s CEO, but is still a majority stakeholder.

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