Kylie Jenner Reportedly Becomes the Youngest Billionaire Ever

Actor Michael Rapaport attends the Heavyweight Championship of The World 'Wilder vs. Fury' Premiere at Staples Center

Actor Michael Rapaport attends the Heavyweight Championship of The World 'Wilder vs. Fury' Premiere at Staples Center

Kylie Jenner has been named the youngest self-made billionaire of all time by Forbes magazine, thanks to the booming cosmetics company she founded three years ago.

Becoming a billionaire at 21 means she snatched the crown from Facebook's Mark Zuckerberg, who previously earned that title when he was 23 years old.

The entrepreneur owns 100% of Kylie Cosmetics, the three-year-old beauty business that did an estimated $360 million in sales past year, and most of her sales are done online. But (the recognition) feels really good.

Forbes estimated that Jenner's Kylie Cosmetics is worth at least $900 million, and she owns it all.

Of course, this distinction seems dubious to many people - including the folks at Dictionary.com - because the term "self-made" doesn't square with Jenner's status as a member of one of a famously wealthy and visible family. But then in 2018, Jenner signed a distribution deal with beauty retailer Ulta, with her products hitting the shelves over the holiday season.




She also credited her success to her massive social media following as she is also among the 10 most popular personality on Instagram with 126 million followers.

Kylie owns her entire company, which she started in 2015, and employs just seven full-time and five part-time employees, while manufacturing and packaging is outsourced to Seed Beauty and her mom and manager Kris Jenner helps run the brand's finances and PR.

It's also estimated her business racked in about US$360m in sales just past year.

Evan Spiegel, the founder of the social media platform Snapchat, also made the list as he is worth KSh 200 billion (2.1billion dollars) at the age of 28. "I don't define myself by how much I have", she told PAPER.

She has since reversed course, however, and now says that the reason her family is no longer together is because of Thompson.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.