Adam Bowen

Adam Bowen and his cofounder James Monsees became billionaires when investors valued their e-cigarette company Juul Labs at $38 billion in late 2018.In December 2018, tobacco giant Altria invested $12.8 billion for a 35% stake in Juul.Each cofounder owns an estimated 1.75% of Juul and has netted an additional estimated $500 million from sales of their shares over time.The cofounders, who were both smokers, met at Stanford University's design school and launched cigarette alternative Ploom in 2017. Juul makes up more than 70% of the U.S. e-cigarette market and reportedly had at least $1 billion in 2018 revenues.