With AAP.
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.
Jenner, 21, the half-sister of reality television stars Kim, Khloe and Kourtney Kardashian, made it on to the annual Forbes list of billionaires after debuting her Kylie Cosmetics online in 2015 with $US29 ($A41) 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.
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 2057th place whether she was self-made or inherited.
Last year, Kylie Cosmetics did an estimated $US360 million in sales, according to Forbes. Jenner, who has a one year-old daughter, owns 100 per cent of the company.
She also makes money from endorsements and appearances on cable TV’s Keeping Up with the Kardashians.
Kylie Cosmetics last year signed a deal with Ulta Beauty to put her products in all of the retailer’s 1163 US stores.
Forbes put 2153 billionaires on its 2019 list, down from 2208 in 2018, and said their total combined net worth was $US8.7 trillion, down from $US9.1 trillion in 2018.
Of course, some people online have taken issue with Jenner being labelled ‘self-made,’ which has started a fierce debate online. Even Dictionary.com weighed in with a definition of what ‘self-made’ actually means.
Top Comments
When a rich girl starts making makeup.
I think they mean she’s the youngest ever person to become a billionaire without inheriting the fortune.
Look I’m not the biggest Kardashian fan but give her credit. She turned all that fame into a massive empire. Kendall could have done it, but didn’t. Any other celeb sibling could have done it, but didn’t. Kylie Cosmetics was actually genius on her part and the way she promotes it works.
Yes, I am sure she came up with all the product and marketing ideas herself - she's a total genius. It's not like there's a team doing that for her or anything, or that she is simply the physical vehicle upon which things are marketed. Credit where credit's due, right?