Alexandra Andresen captivated the world's attention in 2016 when she was named as the planet's youngest billionaire — at the age of just 19.

It's a position she kept for three years straight before being pushed out to second place in March this year by none other than Kylie Jenner, then 21.

Jenner also took out the coveted title of the youngest self-made billionaire ever, thanks to her Kylie Cosmetics empire.

But don't feel too sorry for runner-up Alexandra, now 23, whose 24-year-old sister Katharina Andresen is now in third place on the Forbes list.

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The Norwegian sisters enjoy a staggering fortune of US$1.4 billion (NZ$2.18m) each after they both inherited a 42 per cent slice of their father's wildly successful investment company, Ferd, which means "journey" in Norwegian.

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💥 Photo by @jannemh

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According to Forbes, the company has roots dating back to 1849, when the family took over a tobacco company.

But in 2005, that branch of the business was sold to Skandinavisk Tobakskompagni for around US$500 million due to the family's ethical concerns about the cigarette industry.

Today, Ferd has evolved into a holding company with "diverse interests spanning private equity holdings, real estate, security investments and a hedge fund", Forbes reports.

Its portfolio includes private holdings in companies such as Swix, a Norwegian business producing ski wax, ski poles and sportswear, carton packaging company Elopak and building materials firm Mestergruppen.

Johan Andresen — Alexandra and Katharina's father — is still the chairman of the board, with a 15.2 per cent stake in Ferd.

There is no evidence that either daughter has worked for the company directly, but their wealth comes from their father's decision to hand over more than 80 per cent of the company's ownership to them in 2007.

While the Andresen family are not household names across the globe, they are one of the most well-known dynasties in Norway.

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For years now the Andresen sisters have enjoyed lives of unparalleled wealth and privilege — and their social media accounts reveal they've got the enviable lifestyles to match their billions.

ALEXANDRA ANDRESEN

Born in July 1996, Alexandra Gamlemshaug Andresen is an accomplished, professional equestrian rider who has won many international dressage awards.

She has also modelled for the equestrian clothing company KingsLand and, according to the UK Telegraph, was educated at a British boarding school.

She discovered her passion for equestrian at a young age — a passion shared by her mother Kristin — and began riding horses at just three years of age.

She seems to have no plans to forge a career with Ferd, and Mr Andresen has previously publicly stated he did not wish to force his daughters into the family business.

The 23-year-old got engaged to boyfriend Joachim Tollefsen in October 2017, although it is believed the young couple have not tied the knot yet.

In previous interviews, she revealed she saved most of her money and drove second-hand cars by choice.

In a 2014 interview posted on the Ferd website, she said she felt "a great responsibility" as a result of her inheritance.

"In a way, I think I have not deserved this. At the same time, I want to help develop Ferd and make it even better. Finding a way to give something back I think is difficult," she said.

"(Money) is a necessity but not something I need to use in abundance … My family's resources have given me many opportunities, especially in horseback riding, because it requires a lot of capital, she says.

"There are people who have reached the top of the world without having a rich family. At the same time, it has obviously been a great advantage for me to have a family that supports me in every way.

"I really save all the time, I've always done that. I save when I get weekly wages and cash prizes I win at events or if I get money as a gift for my birthday. It allows me to buy something I really want, like a purse or a pair of shoes, without having to ask mom or dad for money."

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I really want to go back to Cyprus this year☀️🌴

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Her public Instagram account shows her jetsetting lifestyle, with holiday snaps from exotic locations around the world, including India and the US.

KATHARINA ANDRESEN

Born in May 1995, Katharina Gamlemshaug Andresen is studying at Amsterdam University College and is also an intern at Ernst & Young, Business Insider reports.

She doesn't seem to share her sister's love of horseriding but is also a serious traveller, with her own Instagram account littered with photos from locations such as Italy, New York, the Galápagos Islands and Belize.

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First stop 💃🏼🍸

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She also has a strong interest in fashion, archery and skiing.

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〰️〰️⚓️〰️〰️

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But it hasn't always been smooth sailing for the eldest Andresen sister.

In November 2017, she was fined 250,000 kr (NZ$40,000) for drink-driving.

She was also barred from driving for 13 months.