Cover Story Sneak Peek: Hollywood's Richest Teens

Cover Story Sneak Peek: Hollywood's Richest Teens
Chris Ratcliffe/Bloomberg News/Landov; Matt Sayles/AP

updated 07/11/2007 at 12:00 PM EDT

originally published 07/12/2007 04:00PM

As Lindsay Lohan, Mary-Kate and Ashley Olsen and other young stars become adults, a new generation of kids is striking it rich in Hollywood.

This week's PEOPLE offers a look inside the lives of the newest mini-moguls, who aim to be both wealthy – and wise. Some highlights:

Daniel Radcliffe, 17
Already the U.K.'s richest teen, he will be paid a reported $50 million for the next two Harry Potter films. He recently dropped $17,000 on a custom-made Savoir mattress, but says, "People seem to expect me to splash out on a classic-car collection, but I've never been into cars or anything like that."

Hayden Panettiere, 17
Forbes estimates the Heroes star, whose debut album drops in 2008, earns $2 million a year. A Neutrogena spokesmodel, she knows her face is her fortune: "I get facials all the time."

Rihanna, 19
The Barbados-bred singer, whose latest CD, Good Girl Gone Bad, sold more than 200,000 copies its first two weeks out, says she's a savvy spender: "I don't like to waste money. I buy things that I'm going to get my money's worth out of, things I'm going to use a lot. I like to splurge on makeup and shoes – Louboutins! My mom loves bags. I bought her a Fendi."

Hilary Duff, 19
As CEO of her own lifestyle company, she earns about $12 million a year, according to Forbes. Still, she says, "I definitely don't just buy what I want." Case in point: She thought about buying a Porsche Cayenne Turbo for nearly $100,000, but her business manager said, "You're a terrible driver. You don't need that kind of power."

For more photos and a look at the lives of young stars including Romeo, Miley Cyrus, Dakota Fanning and Emma Roberts, pick up the new issue of PEOPLE. Plus, find out: Which siblings are the next Olsen twins? Who's the richest teen royal? Who's richer, High School Musical's Zac or Vanessa? and more

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