Having accumulated an estimated $1 billion by age 21, her entry states, Jenner is “the youngest self-made billionaire.
In mid-November, Kylie Jenner marked a milestone moment with a visit to a strip mall. For the past three years, her Kylie Cosmetics had only sold its makeup online and briefly in pop up shops. But after signing an exclusive distribution deal with Ulta, the beauty retailer, Kylie Cosmetics was rolling its $29 lip kits—a matte liquid lipstick and matching lip liner—into Ulta’s 1.000-plus stores. And Jenner showed up to the Richmond Avenue Ulta in Houston to greet customers, sign autographs on lip kits and, of course, pose for selfies with her fans.
Kylie Jenner has become the world’s youngest self-made billionaire, according to Forbes billionaires’ list.
The youngest Kardashian family member is making her fortune from her best-selling cosmetics business. The 21-year-old founded and owns Kylie Cosmetics, the three-year-old beauty business that generated an estimated $360m in sales last year.
She reached the milestone earlier than Facebook founder Mark Zuckerberg who became a billionaire aged 23.
“I didn’t expect anything. I did not foresee the future. “But [the recognition] feels really good. That’s a nice pat on the back,” Kylie told Forbes.
The magazine released on the 5th of March its annual ranking of the planet’s richest people for 2019, announcing that Jenner not only made the billionaires’ list for the first time but is the world’s youngest billionaire as well as the “youngest self-made billionaire of all time.”
The youngest of the famous Kardashian-Jenner family ranked at number 2,057 on the list of 2.153.
Forbes credited Jenner’s billionaire status to the success of her makeup company, Kylie Cosmetics, which she founded in 2015 with the sale of the wildly popular lip kits — a set which included liquid lipsticks and matching lip liner.
Jenner, whose net worth is $1 billion, expanded the line to include a range of cosmetics such as blush, highlighter, concealers, and eyeshadow palettes. She also launched makeup collaborations with her sisters Khloe Kardashian and Kim Kardashian West, whose net worth is $350 million, according to a 2018 ranking by Forbes.
Thanks to earnings made from being in the public eye for more than a decade and the creation of her own cosmetics company, KKW Beauty, Kim Kardashian West is the second-richest person among the Kardashian-Jenner clan.
In 2018, Kylie Cosmetics raked in an estimated $360 million, according to Forbes. The company is said to be worth at least $900 million, with Jenner owning 100 percent stake.
Joining the makeup mogul on Forbes’ youngest billionaire list for 2019 is Alexandra Andersen and her sister Katharina, who own a Norwegian holding company, and Snapchat creator Evan Spiegel.
Photo source: vox.com