Update: Forbes just released it’s annual list of the world’s richest people and not only did Kylie Jenner make the list for the first time, but she’s also the youngest self-made billionaire—ever. This can be credited mostly to her wildly successful makeup brand, Kylie Cosmetics. At 21, she is now worth $1 billion.
This story was originally published on July 11, 2018.
Forbes ‘ annual list of America’s richest self-made women has several familiar names as well as a few surprises — namely of the Kardashian-Jenner kind.
With a net worth of $4.9 billion, ABC Supply (the largest roofing distributor in the U.S.) cofounder and chairman Diane Hendricks tops the list for another year, followed by Little Caesars cofounder Marian Ilitch, worth $4.3 billion. Computer programmer and Epic Systems CEO Judy Faulkner comes in third (with a net worth of $3.5 billion), followed by Meg Whitman ($3.3 billion).
Oprah Winfrey, who is sixth on the list (with a net worth of $3.1 billion), has benefited from her investment in Weight Watchers: She netted a cool $110 million in May after selling two million company shares.
But some of the names we know best on the list are the newcomers, more than half of whom earned their wealth from cosmetics, "thanks to soaring beauty sales among Gen Z." Among those entrepreneurs is Anastasia of Beverly Hills founder Anastasia Soare (worth $1 billion), Kylie Jenner (worth $900 million), Huda Kattan of Huda Beauty (worth $550 million), and KKW Beauty founder Kim Kardashian West (worth $350 million).
Kylie, who started Kylie Cosmetics less than three years ago and owns 100% of the company, is the youngest entrepreneur on the list at only 20 years old. While she isn’t part of the billionaire club just yet, Forbes says "another year of growth will make her the youngest self-made billionaire ever, male or female, trumping Mark Zuckerberg, who became a billionaire at age 23." That’s a hell of a lot of Lip Kits, endorsements (Puma, PacSun), and E! reruns.
In an interview with the magazine, which made her its August cover star, Kylie attributes a lot of her success to social media, "an amazing platform" that has given her "such easy access to my fans and my customers."
"Maybe one day [I’ll] pass this on to Stormi, if she’s into it," she said.
Check out Forbes ‘ full list here.
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Source: Refinery29 – Judith Ohikuare