21-year-old Kylie Jenner dethrones Mark Zuckerberg as youngest self-made billionaire of all time
The reality TV star has managed to amass a personal net worth of $1 billion through her wildly successful range of cosmetics
Kylie Jenner may be undergoing troubles with regards to BFF Jordyn Woods, but the youngest member of the Kardashian-Jenner clan has finally something to celebrate about! The 21-year-old has been declared the youngest self-made billionaire of all time, dethroning Facebook founder Mark Zuckerberg from the spot.
The 'Kylie Cosmetics' founder was given the prestigious title on Tuesday by Forbes as it unveiled its annual billionaires' list. Not only is Kylie the youngest self-made billionaire, but she is also the youngest billionaire on Forbes' 'Young Billionaires' list.
The reality TV star has managed to amass a personal net worth of $1billion through her wildly successful range of cosmetics, overtaking Zuckerberg, who was 23 years old when he made his first billion.
"I didn’t expect anything. I did not foresee the future. But [the recognition] feels really good. That’s a nice pat on the back," she told Forbes.
The 'Life of Kylie' star previously told Forbes that she had initially invested in her cosmetics with the money she had acquired through modeling gigs in 2015.
She paid an outside company to produce 15,000 of her revered lip kits that morphed into a cosmetic line, eventually taking the world by storm.
"I said, 'I'm ready to put up my own money. I don't want to do it with anyone else, Before I even refreshed the page, everything was sold out," she said. The magazine further reported that Kylie has sold more than $630 million worth of makeup from her brand since its launch and was worth more than $800 million within less than three years of its inception.
As for the immense success, Kylie credits it all to her enormous social media following which helped to ensure her customer base before she made her first product."'It’s the power of social media. I had such a strong reach before I was able to start anything," she said, adding that she sees the company going "very far".
However, call Kris Jenner the party-pooper, for she has said in the past that they were definitely not ruling out selling the company in the future, if the need ever arose. "It’s always something that we’re willing to explore," she said.
Meanwhile, Amazon mogul Jeff Bezos remains the richest man in the world, with an estimated fortune of $131 billion. But he too will likely be dethroned from the prestigious spot, once his divorce to his wife MacKenzie is finalized.