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Sebastian Martinez

He's only 7, but he's already CEO of his own company and a philanthropist.

Sebastian Martinez's passion for collecting bright and zany socks turned into a business when his mother suggested he design his own. The result was a company called Are You Kidding which Sebastian started at age 5.

In 2014, Sebastian made $15,000 selling his specialty socks with the help of his director of sales and big brother Brandon Martinez.

Since January revenue has continued to grow. "We have been able to already reach the $15,000 that we made last year and are on track to double and hopefully triple our sales this year," Rachel Martinez, the president of the company and Sebastian's mother, told CNBC.

Are You Kidding teamed up with organizations like the American Cancer Society and the Live Like Bella Foundation last year to raise more than $3,000 for cancer awareness. In April, the company partnered with The Hue Studio and donated 25 percent of all proceeds from its "Eye See You" sock sales to Discovery Arts, a charitable organization that brings art programs to children with serious illnesses.

Source: Are You Kidding?