It’s official! Kylie Jenner is now the youngest self-made billionaire of all time, having overtaken previous title-holder, Mark Zuckerberg.
And Kylie is not only the youngest self-made billionaire but also the youngest billionaire on Forbes’ ‘young billionaires’ list. She is also the first of the Kardashian-Jenners to reach the 1 billion mark, despite being the youngest of the famous, reality-TV family.
She has amassed her fortune through her makeup company, Kylie Cosmetics, which she founded in 2015 and is now worth an estimated $900million. She owns 100% of the stakes in the company, whose products were initially only sold online but found a home in Utla late last year.
In the weeks following her Ulta launch, Kylie Cosmetics’ revenue climbed 9% to an estimated $360 million, Forbes reports, which made her company worth around $900million. And when you add the fortune earned from other businesses as well as real estate, it makes her a billionaire. At only 21!
“I didn’t expect anything. I did not foresee the future. But [the recognition] feels really good,” she told Forbes. “That’s a nice pat on the back.” Kylie acknowledges that her success is partly due to the previous social media following she had, which made sure she already had a customer base before she even started.
“It’s the power of social media,” the makeup mogul said. “I had such a strong reach before I was able to start anything.” She added that she sees her company going “very far” in the future.
Facebook founder Mark Zuckerberg was only 23 when he earned the youngest self-made billionaire title in 2008, and even though he’s lost it to Jenner, with a fortune of $62.3 billion, Zuckerberg is still the eighth richest person in the world.
Snapchat founder Evan Spiegel, 28, who is pictured below with his wife Miranda Kerr, is also on Forbes’ young billionaires list, with a fortune of $2.1billion. He is also the richest of the young, self-made billionaires.
Out of Forbes’ list this year, Jenner, Spiegel, and John Collison, 28 (who founded the Irish payment company Stripe) are the only self-made billionaires.
Amazon’s Jeff Bezos, (pictured above) however, is still firmly the richest man in the world with an estimated fortune of $131 billion. Forbes also shows that the ten richest people in the world are all men, and seven out of them are from the United States.
Kylie Jenner, however, no longer has the most-liked picture on Instagram as she has been overtaken by the picture of an egg! But I guess you can’t have it all, so congratulations to Kylie!