Vanisha Mittal Bhatia (Carl De Souza/AFP/Getty Images)

Vanisha Mittal Bhatia, daughter of Indian-born, London-based steel magnate Lakshmi Mittal, tops a list of heiresses compiled by Forbes of women under 40 ranked according to their father’s or mother’s most recent net worth. Vanisha is active in her father’s industrial empire, holding a seat on Mittal Steel’s board. Dad, whose net worth is estimated at $51 billion, threw his daughter what is believed to be the most expensive wedding in history, a $60 million, week-long extravaganza in 2005 for some 1,000 guests in Paris, including a performance by pop star Kylie Minogue.

Josie Ho Chiu Yi is another heiress on the list. Daughter of one of Hong Kong’s richest men Stanley Ho ($7 billion), she is known to fans of her indie rock music as [1] Josie Ho. Two of the top heiresses, Georgina Bloomberg, daughter of New York City Mayor Michael Bloomberg ($11.5 billion), and Paige Johnson, daughter of Black Entertainment Television founders Robert and Sheila Johnson ($1 billion) will be competing against each other for a spot on the Olympic equestrian team.

Read “[2] The 20 Most Intriguing Billionaire Heiresses” and view [3] the slideshow for more details about the heiresses.