Life is good for Evan Spiegel.Snapchat is reportedly about to receive a $200 million investment from ecommerce giant Alibaba. It's also in the process of raising another round of funding that would place their valuation at $19 billion.And with a net worth of $1.5 billion, the 24-year-old CEO is officially the youngest billionaire in the world, according to Forbes.Spiegel lives a charmed life ' and he knows it."I am a young, white, educated male," he once said at a conference. "I got really, really lucky. And life isn't fair."Spiegel grew up in the Pacific Palisades, a ritzy Los Angeles enclave just east of Malibu. He was the oldest son of two lawyers, though his parents divorced when he was in high school. Source: LA WeeklyThe family had five cars, including three Lexuses and a 1966 Mustang. When Spiegel turned 16 and got his driver's license, he was given a 2006 Cadillac Escalade, which he parked in the gated Southern California Edison parking lot next to his school. Spiegel's father represented Edison during the energy crisis. Source:LA WeeklyAccording to a profile of Spiegel in LA Weekly, the high schooler wanted a more fuel-efficient car since he found himself driving in the city fairly often. In a letter from 2008, Spiegel asked his parents to lease him a BMW 550i, which typically retails for about $75,000. "Cars bring me sheer joy," he wrote. "I would really appreciate you validating me and all of my hard work by leasing the BMW." Source:LA WeeklySee the rest of the story at Business Insider Click here to read full news..