Kylie Jenner, 21, Named World's Youngest Self-Made Billionaire by Forbes: It Feels 'Really Good'
After a landmark year for her Kylie Cosmetics business, Kylie Jenner is being touted as the world's youngest self-made billionaire
The 21-year-old Kylie Cosmetics mogul was estimated to surpass Facebook’s Mark Zuckerberg as the youngest self-made billionaire ever in July 2018, and now, that’s reportedly become her reality.
Jenner, who got her start as a preteen starring on her family’s hit reality series Keeping Up with the Kardashians, was named the world’s youngest billionaire by Forbes in the magazine’s annual Billionaires 2019 ranking. “I didn’t expect anything. I did not foresee the future,” Jenner told Forbes. “But [the recognition] feels really good. That’s a nice pat on the back.”
Driven by Kylie Cosmetics’ expansion into Ulta last year, the company’s revenue climbed 9% last year to an estimated $360 million, with the overall valuation of the brand estimated at $900 million, which Forbes calls a “conservative” report. Jenner owns 100% of Kylie Cosmetics, which first launched in 2015 with three Lip Kits.
But Jenner’s billion dollar empire also stems from her other earnings like an array of product endorsements (like sponsored posts for Fit Tea Wraps, waist trainer company Waist Gang Society and more), her KUWTK paycheck, the Kendall + Kylie clothing line and her Adidas partnership.
Overall, the businesswoman credits her booming success to the internet (she has over 128 million Instagram followers alone). “It’s the power of social media,” Jenner said. “I had such a strong reach before I was able to start anything.”
After hearing the news of Jenner’s exciting accomplishment, the star’s older sister Kendall Jenner congratulated her on Twitter. “HOLY MOLYYYYYYY,” the supermodel wrote alongside three trophy emojis.
Besides being named one of America’s richest self-made women as she graced the cover of Forbes‘ ranking of the most successful female businesswomen, Jenner was also ranked as one of the top five wealthiest celebrities for 2018 by Forbes.
According to the outlet, she tied for fifth place with Jay-Z, who is also estimated to have a $900 million net worth. Leading the rest of the list in the top four spots was George Lucas ($5.4 billion), Steven Spielberg ($3.7 billion), Oprah ($2.8 billion) and Michael Jordan ($1.7 billion).
Though many have been left wondering if the term “self-made” could apply to someone from a wealthy family like the Kardashians, Jenner set the record straight, revealing that her parents, Kris and Caitlyn Jenner, “cut her off at the age of 15.”
“I had such a huge platform, I had so many followers already and I had so many people watching me,” Jenner told PAPER, adding that “the self-made thing is true.”
“My parents told me I needed to make my own money, it’s time to learn how to save and spend your own money, stuff like that,” she said. “What I’m trying to say is I did have a platform, but none of my money is inherited.”
However, Jenner doesn’t feel like anything has changed since becoming a billionaire. “I don’t define myself by how much I have,” she told PAPER. “I honestly don’t wake up even thinking about it.”