Kylie Jenner Named Youngest Self-Made Billionaire
Forbes named Kylie Jenner, 21, the youngest self-made billionaire ever on Tuesday.
Forbes estimated Jenner’s makeup company Kylie Cosmetics is worth $900 million, and if you add in the cash that Jenner has already pulled from her business, the total worth is $1 billion. This makes her the youngest billionaire ever passing Mark Zuckerberg, who hit $1 billion at age 23 after founding Facebook in 2004.
The reality star and entrepreneur was able to hit the $1-billion mark due to her partnership with Ulta. Before you could find the famous lip kits in person at Ulta, the only way to purchase Jenner’s products was through her online store or at her occasional pop-up shops. (RELATED: Travis Scott Drops An Insane Amount Of Money For Girlfriend Kylie Jenner’s Valentines)
Jenner claims she had no idea the cosmetics line would be so successful. “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.”
Jenner credits her success to her popularity on social media. She reaches roughly 175 million users across her social media platforms and she used those platforms to market her products. Jenner uses Snapchat and Instagram stories, Facebook and Twitter to release news about new product launches.
“It’s the power of social media,” Jenner said. “I had such a strong reach before I was able to start anything.”