Good Evening
Good Evening

Kylie Jenner, 21, is the youngest self-made billionaire, says Forbes

Cosmetics mogul and reality-TV star Kylie Jenner attends

Cosmetics mogul and reality-TV star Kylie Jenner attends the 61st Annual Grammy Awards on Feb. 10, 2019, in Los Angeles. Credit: AFP/Getty Images / VALERIE MACON

At just 21 years old, cosmetics mogul Kylie Jenner has become the youngest self-made billionaire, according to a new list compiled by Forbes magazine.

In its ranking of more than 500 billionaires worldwide released Tuesday, Forbes said Kylie Cosmetics — which Jenner owns solely — has an estimated net worth of at least $900 million. The reality-TV star is worth another estimated $100 million from her company's previous earnings, the magazine said. She additionally earns money through endorsements, modeling and other endeavors.

The previous record-holder, Facebook co-founder Mark Zuckerberg, was 23 when he reached this milestone.

"I didn't expect anything. I did not foresee the future," Jenner told the magazine. "But [the recognition] feels really good. That's a nice pat on the back." She attributes her success in part to "the power of social media," saying that with her more than 175 million social-media followers, "I had such a strong reach before I was able to start anything."

Jenner nonetheless does not rank in the top 500 on the list, which is headed by Amazon founder Jeff Bezos ($131 billion) and Microsoft co-founder Bill Gates ($96.5 billion).

In July 2018, Jenner appeared at No. 3 on Forbes' annual compilation of the world's 100 highest-paid sports and entertainment celebrities, with $166.5 million — a significant leap from her debut the previous year at No 59 with $41 million. Also in July 2018, the magazine gave Jenner an estimate net worth of $900 million in its list of the richest self-made women, on which she reached No 27.

Anchored by her $29 Lip Kit — pairings of lip liner and liquid lipstick — Jenner's cosmetics line had grossed an estimated $630 million between its founding in February 2016 and Forbes' published assessment last July. (Jenner's original company, Kylie Lip Kits, had been founded by the "Keeping Up With the Kardashians" star on November 2015). Forbes on Tuesday said that by the end of 2018, Kylie Cosmetics had notched a 9 percent revenue increase over the previous year to earn an estimated $360 million.

More Entertainment