Kylie Jenner on Tuesday was named the youngest self-made billionaire of all time by Forbes magazine, thanks to the booming cosmetics company she founded three years ago.
Jenner, 21, the half-sister of reality television stars Kim, Khloe and Kourtney Kardashian, made it onto the annual Forbes list of billionaires after debuting her Kylie Cosmetics online in 2015 with $29 lip kits containing matching lipstick and lip liner.
Forbes said she was both the world's youngest billionaire and also the youngest self-made billionaire ever.
On their billionaires list, Forbes distinguishes between those who inherited much of their wealth and those who made their fortunes on their own. Kylie would be in 2,057th place whether she was self-made or inherited.
Last year, Kylie Cosmetics did an estimated $360 million in sales, according to Forbes. Jenner, who has a one year-old daughter, owns 100 percent of the company.
She also makes money from endorsements and appearances on cable TV's "Keeping Up with the Kardashians," and was ranked at number 2,057 on the Forbes 2019 list.
Kylie Cosmetics last year signed a deal with Ulta Beauty Inc to put her products in all of the retailer's 1,163 U.S.
Forbes put 2,153 billionaires on its 2019 list, down from 2,208 in 2018, and said their total combined net worth was $8.7 trillion, down from $9.1 trillion in 2018.
The richest person in the world remained Amazon.com Inc Chief Executive Officer Jeff Bezos, whose net worth increased to $131 billion from $112 billion in 2018, according to Forbes.
Microsoft Corp co-founder Bill Gates remained in the No. 2 position with an estimated fortune of $96.5 billion, up from $90 billion last year.
Facebook founder and CEO Mark Zuckerberg dropped three places to No. 8, as his fortune fell by $8.7 billion to $62.3 billion.
(Source: Reuters March 05, 2019)
Kylie Kristen Jenner
Kylie Kristen Jenner (born August 10, 1997) is an American reality television personality, model, entrepreneur, socialite, and social media personality. She has starred in the E! reality television series Keeping Up with the Kardashians since 2007 and is the founder and owner of cosmetic company Kylie Cosmetics.
At age 14 in 2012, she collaborated with the clothing brand PacSun, along with her sister Kendall, and created a line of clothing, "Kendall & Kylie". In 2015, Jenner launched her own cosmetics line called Kylie Lip Kits, which was renamed to Kylie Cosmetics the following year. She also released a mobile app that reached number one on the iTunes App Store.
In 2014 and 2015, Time magazine listed the Jenner sisters on their list of the most influential teens in the world, citing their considerable influence among youth on social media. As of 2018, with over 122 million followers, she is one of the top 10 most followed people on Instagram. In 2017, Jenner was placed on the Forbes Celebrity 100 list, making her the youngest person to be featured on the list. Jenner starred on her own spin-off series, Life of Kylie, which premiered on E! on August 6, 2017.
According to Forbes magazine, as of March 2019 her net worth was US$1 billion, making her, at age 21, the youngest self-made billionaire ever. In November 2018, New York Post credited her for being the most influential celebrity in the fashion industry.