Youngest millionaire - non-inherited

The youngest person ever to accumulate a million dollars was the American child film actor Jackie Coogan (1914-84) born in Los Angeles, California, USA.  In 1923-24 he was earning $22,000 (£11,936) per week and retained approximately 60% of his films' profits. At the age of 13, he was a millionaire in his own right. 

£11936 in the year 1923 has the same purchase power as £428,478.78 in the year 2002. 

$22,000 in the year 1923 has the same purchase power as $232,035.73 in the year 2002.

 

A child of show-business parents, he appeared in silent films from an early age. By the time he was discovered by Charlie Chaplin , he was just four years old.  After the incredible success of The Kid (1921), Jackie Coogan was launched into child stardom where he remained until 1931. "The Kid" made 17 silent films between 1917 and 1928. In later years he is remembered for his role as Uncle Fester in the1960s television series The Addams Family.

Despite Coogan's millionaire status, his parents squandered his money and under California Law, at the time, he had no rights to the money he made as a child. Jackie filed suit for the approximately $4 million and in 1939, was awarded only $126,000. The ensuing legal case (1938) led ultimately to the Child Actors Bill, also known as the "Coogan Act", to protect the earnings of child actors.

$222,081.37 in the year 2000 has the same "purchase power" as $22000 in the year 1923.